The companies operating in Indian forklift market is busy doing forklift SALES, which in turn invites other players into growing forklift rental business: Bonafide Research

“Rental forklift Market has shown an impressive growth rate in the last few years. New Entrant and Other Players are more curious and moving smartly with buy and lease strategy while top players of the Forklift industry are focussing on direct sales. The scenario of the Rental Forklift Market is changing quickly and top players will lose the opportunity in upcoming years.
In a price-sensitive nation like India, the rental forklift market gaining huge potential in warehousing and manufacturing industries. The rental forklift market is highly unorganized and top players have lesser pie in this business. New entrants and other players are taking advantage of the growing rental forklift market with buy and lease strategy. In India, the Majority of clients is are dealing with short terms projects and growing warehouses. In the upcoming years, the Rental forklift market will constitute more than 25% of the demand/ deployment. The shift towards hiring and leasing of equipment have somewhat in various sectors like Logistics, Auto ancillary retails, etc. This arrangement saves them from huge capital investment day by day operations and maintenance issues.
According to Bonafide Research, in the last few months after GST implementation has found a sea change in the Warehouse industry by eliminated the need of having a warehouse in each state to avoid CST, in this manner encouraging players to set up fewer, larger, and more sophisticated warehouses. This impact has increased the size of warehouses by getting bigger and need a smarter solution for moving goods faster. Warehouses have taken up ventures on automation and searching for speculation for better development inside warehouses. New entrant like LEAP INDIA, a supply chain solution company has the plan to venture into the forklift renting business by ordering 100 forklifts from Toyota MHE. The company will be investing about ? 15 crores for buying the forklifts and lease it to corporate for use in their warehouses.
This growing rental category of forklift will change the market scenario in the upcoming years. Top players have an additional opportunity to make a strategy to gain momentum in the Rental forklift industry. Otherwise, outside players will enjoy the pie of the rental forklift market and organized players will not be able to entertain the rental forklift business in the future.
Organized companies offer forklifts on rent includes: – KION India private limited (Voltas), Action Construction Equipment Limited (ACE). Just engineering limited, Toyota material handling India Private Limited. McNeill Engineering Limited, Maini Material movement private limited. MHE Next engineering Private Limited, Godrej & Boyce Mfg. co, Ltd