This report provides a detailed analysis of the Chinese industrial forklift truck market, updating the study last published by Off-Highway Research in November 2023. The findings are based on in-depth interviews conducted with key manufacturers and dealers in the industry during the first three quarters of 2025.

Industrial forklift trucks are vehicles used for lifting and moving heavy loads. They are typically powered by either internal combustion engines or batteries. The former are referred to as IC trucks, while the latter are known as electric trucks. IC trucks can use diesel, gasoline or liquefied petroleum gas (LPG) as fuel, with diesel being the most common. Electric trucks are powered by lead-acid batteries, lithium-ion batteries or fuel cells. In a bid to save fuel and reduce emissions, hybrid counterbalanced forklift trucks that use both a diesel engine and a battery have recently been developed.

According to the World Industrial Trucks Statistics Institute, industrial forklift trucks are divided into seven classes. Class I forklifts are ride-on trucks with electric motors and usually counterbalanced, Class II forklifts are ride-on trucks with electric motors for use in narrow aisles or warehouse picking functions, Class III forklifts are automated walk behind pallet lift trucks with electric motors, Class IV forklifts are vehicles with internal combustion engines equipped with cushion tyres and counterbalanced, Class V forklifts are vehicles with internal combustion engines equipped with pneumatic tyres and often counterbalanced, Class VI forklifts are defined as tow tractors, and Class VII forklifts are telescopic rough terrain material handlers.

This report only covers electric counterbalanced trucks (Class I), electric warehouse trucks (Class II) and internal combustion counterbalanced trucks (Classes IV and V). The other three types fall outside the scope of this study.