The global forklift trucks market is expected to witness significant growth, with a projected increase of USD 26.88 billion between 2025 and 2029, representing a Compound Annual Growth Rate (CAGR) of 7.7%. This growth is primarily attributed to the adoption of fuel cell-powered forklift trucks, driven by the need for enhanced operational efficiency and compliance with carbon emission regulations. Key market players such as Toyota and KION GROUP are at the forefront of introducing fuel cell-powered models that offer various advantages, including reduced downtime, longer fuel cell life, faster refueling times, and consistent performance. The trend towards hydrogen-powered forklift trucks is gaining momentum due to their improved performance, lower maintenance requirements, and environmental benefits. Hydrogen, sourced from natural gas, offers a cost-effective alternative to traditional fuels like diesel and LPG. Industries across various sectors, including construction, e-commerce, power generation, and mining, are actively adopting fuel cell technology in material handling equipment. However, the market faces challenges related to the shortage of skilled forklift operators, which impacts operational efficiency and profitability. Despite certification mandates by regulatory bodies like OSHA in the US, finding proficient operators remains a persistent challenge, leading to higher labor costs and operational delays. Additionally, advancements in AI and robotics are transforming the industry landscape, influencing forklift demand and pushing for the adoption of electric vehicles over internal combustion engine trucks. Overall, the forklift trucks market is undergoing significant changes driven by technological innovations, environmental concerns, and the need for efficiency. The shift towards fuel cell-powered forklift trucks represents a positive step towards sustainability and performance improvement in the material handling industry.