Cushion Tire Forklifts Market Size, Share, Opportunities, And Trends By Tire Type (Marking, Non-Marking), By Capacity (Up To 1000Kg, 1000Kg – 5000Kg, Above 5000Kg), By Application (Warehouses, Manufacturing Units, Logistics Centers), And By Geography - Forecasts From 2023 To 2028

The cushion tire forklifts market is projected to show steady growth during the forecast period.

A cushion tire forklift is a type of industrial forklift that is equipped with cushioned solid rubber tires rather than pneumatic tires. It is intended for indoor use on smooth, flat surfaces. Cushion tire forklifts are well known for their small size and tight turning radius, making them ideal for use in narrow aisles. They are commonly used in warehouses, distribution centers, and manufacturing plants with flat and even floors. The establishment of new warehouses and logistic centers aided the growth of the cushion tire forklift market.

Market Drivers

• New warehouse establishments accelerated the cushion tire forklift market growth.

A newly established warehouse requires equipment for performing tasks such as loading and unloading goods, arranging inventory, and transporting materials within the facility. Cushion tire forklifts have several advantages in this situation, their small size and flexibility make them ideal for navigating narrow aisles and crowded spaces found in warehouses. Therefore, the establishment of new warehouses increased the demand for cushion tire forklifts. For instance, in March 2023, Mahindra Logistics and Ascendas-Firstspace announced the launch of a one million square feet warehouse park in Talegaon, Pune, Maharashtra.

• The establishment of logistic centres surged the growth of the cushion tire forklift market.

The rise of e-commerce and the growing popularity of online shopping resulted in the establishment of larger and more specialized logistic centres. Cushion tire forklifts are ideal for navigating tight spaces and narrow aisles. This allows for smooth operations in these logistic centers which increased the adoption of cushion tire forklifts in newly established logistic centers. Moreover, in December 2023, Axcelis Technologies, Inc. announced the opening of its new Axcelis Logistics Center at 105 Sam Fonzo Drive in Beverly, Massachusetts. The new Axcelis Logistics Center is a cutting-edge facility that helps Axcelis maximize its logistics and warehouse operations.

• Technology advancement in cushion tire forklifts bolsters the growth of the cushion tire forklift market.

Cushion tire forklift technology advancements have revolutionized the material handling industry. These forklifts have advanced features and capabilities that improve performance and efficiency. There are significant advancements such as the integration of electronic controls and sensors. These allow for more precise operation and increased safety due to which the cushion tire forklift market grows rapidly. Therefore, Hyster-Yale Group, Inc. offers S30-40A, with a 3,000–4,000 lb capacity range and a heavy-duty, EPA-certified Yanmar 2.2L LPG engine. It comes with 5 advanced sensors steer angle sensor, mast height sensor, tilt angle sensor, load sensor, and speed sensor.

Asia Pacific is expected to grow significantly.

Asia Pacific is expected to account for a significant share of the cushion tire forklifts market due to the establishment of new warehouses and logistic centres in the region. For instance, in December 2023, Manitou Group opened a new spare parts logistics centre in Greater Noida, India. This new facility supports the group's ambitious plans to expand its production and distribution activities in this region over the next few years. Additionally, in November 2022, DB Schenker opened a 54,000-meter square Pinghu logistics center in China. DB Schenker expanded its presence in China with this new highly efficient, two-story ramp and AS-RS automated warehouse. In December 2021, AWL India opened India's largest warehouse dedicated entirely to fashion apparel brands in Nagpur. The warehouse is India's largest fashion apparel warehouse, and its operations are powered by high-tech devices and machinery.

Market Restraints

• Poor outdoor traction will restrain the growth of the cushion tire forklift market.

Cushion tire forklifts are primarily intended to be operated indoors or on smooth outdoor surfaces. This makes them unsuitable for use in outdoor applications such as manufacturing sites or rough terrains. This may limit the adoption of cushion tire forklifts which may affect the industry growth.

Market Developments

• June 2021- Yale Materials Handling Corporation announced the release of its new ERC050-060VGL series, a 5,000 to 6,000-pound capacity cushion tire lift truck intended to bring the advantages of factory-integrated lithium-ion power to warehouse operations, such as improved productivity, ergonomics, and zero emissions.
• January 2020- Mitsubishi Logisnext Americas, the exclusive manufacturer and provider of UniCarriers Forklifts, announced the official release of the CF100-CF155 Series, 4-wheel internal combustion heavy-duty cushion tire forklifts.

Company Products

• Core IC Cushion Forklift- Toyota's Core IC Cushion Forklift is one of the most widely used forklifts in North America. It is powerful enough to lift up to 6,500 pounds while navigating 12-foot aisles. It consists of a Toyota 4Y Engine and a System of Active Stability (SAS). Toyota’s Core IC Cushions are widely used in warehousing and distribution applications, the auto industry, general manufacturing plants, and retail storefronts due to their extreme versatility.
• IC Cushion FGC15N- The Mitsubishi Forklift Trucks FGC15N is designed to perform shift after shift. It offers a basic capacity of 3,000 lbs with a maximum fork height of 131 and a chassis width of 38.2 (in). It contains gross weight of 6,070 lbs. For added security, it offers three solid points of contact when entering and exiting the forklift. The seat has an expanded grab bar, a low anti-slip entry step, and a steel hip restraint.
• GTC-40- GTC-40 is a cushion tire forklift offered by Taylor Machine Works, Inc. It features with 130" maximum fork height 2-stage mast with an 83.3-inch lowered height and its hydraulic cushioning valve facilitates silent staging and reduces shock and vibration. GTC-40 offers a single-speed powershift transmission and powertrain protection system for the engine and transmission.
• XF Series LPG Cushion Tire Forklift- Hangcha Group's XF Series LPG Cushion Tire Forklift is designed to meet the needs of warehouses, distribution centers, and manufacturing facilities. This forklift features a lifting capacity of 3,000-6,500 lbs. This forklift also includes the most recent Hangcha advancements such as LED lighting, a load-sensing hydraulic system, a low-emission engine, noise and vibration control, and a new control system.

Segmentation

• By Tire Type
  • Marking
  • Non-Marking
• By Capacity
  • Up to 1000Kg
  • 1000Kg – 5000Kg
  • Above 5000Kg
• By Application
  • Warehouses
  • Manufacturing Units
  • Logistics Centers
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Indonesia
    • Others