Material handling vehicles are used in virtually every industry to transfer cargo, stock and pallets. According to the recent market surveys, the global market for Material handling equipment is projected to reach US$190.3 billion by 2025. This is due to the industry-wide focus on improving production and operational efficiency as well as worker health and safety.
The forklift (aka lift truck) is one of the most widely used Material handling vehicles. Although forklifts traditionally have been fueled by gasoline, propane gas or diesel fuel, the industry is switching more to electric forklifts. According to shipments reported by the Industrial Truck Association (ITA’s) 2018 data, electric and internal combustion truck sales grew annually at a rate of 2.8% and 2.7% (Source: ITA), respectively. Overall, the electric forklifts accounted for nearly two-thirds (64%) of the market.
Electric forklifts provide many benefits, such as:
- Cost savings – realized through reduced fuel costs, lower life cycle costs and lower maintenance costs
- Environmentally friendly – realized through elimination of combustion and fumes
- Efficiency – realized through increased productivity of the drivers due to less down time, quieter operation and increased comfort and safety
The following calculator will allow you to determine the true-life cycle costs and environmental benefit of electrics versus their internal combustion counterpart, with the ability to tailor to a specific customer.
Forklift (Lift Truck) Comparison with Capital Costs