Indonesia Forklift Rental Market Size, Share, and COVID-19 Impact Analysis, By Power Source (Electric, ICE, and Hybrid), By Truck Class (Class I, Class II, Class III, Class IV, and Class V), and Indonesia Forklift Rental Market Insights, Industry Trend, Forecasts to 2035

Indonesia Forklift Rental Market Size Insights Forecasts to 2035

• The Indonesia Forklift Rental Market Size Was Estimated at USD 101.5 Million in 2024
• The Market Size is Expected to Grow at a CAGR of Around 7.51% from 2025 to 2035
• The Indonesia Forklift Rental Market Size is Expected to Reach USD 225.2 Million by 2035

According to a Research Report Published by Spherical Insights & Consulting, The Indonesia Forklift Rental Market Size is anticipated to Reach USD 225.2 Million by 2035, Growing at a CAGR of 7.51% from 2025 to 2035. The forklift rental market in Indonesia is driven by the 3PL outsourcing and e-commerce warehousing expansion, while government infrastructure projects drive construction equipment leasing. Demand for electric forklifts is rising, spurred by PLN green-energy incentives, and Pelindo port automation increases container-handling rentals

Market Overview

The Indonesia forklift rental market refers to the business ecosystem in Indonesia where companies provide forklift equipment on a rental basis to other businesses for material handling, logistics, warehousing, construction, manufacturing, and related operations. The market is used by businesses to access forklifts without purchasing. Companies in warehousing, logistics, manufacturing, and construction rent forklifts for loading and unloading goods, moving materials, stacking inventory, and handling heavy loads. The market is driven by 3PL outsourcing & e-commerce warehousing expansion, govt. infrastructure push fuels construction equipment leasing, electronic forklifts surge to align with PLN green-power incentives.

Key opportunities in the Indonesian forklift rental market include e-commerce & warehousing growth, infrastructure & construction projects, cost-effective alternatives to ownership, technological upgrades & modern equipment, and spasonal & project-based demand. In August 2025, Indonesia's Ministry of Industry urged companies to utilize Domestic Component Level (TKDN) incentives, including import duty exemptions on machinery under Regulation No. 176/PMK.011/2009. Lower costs for locally made forklifts can boost the Indonesian forklift rental market, supporting fleet expansion and warehouse operations nationwide.

Report Coverage

This research report categorizes the market for the Indonesia forklift rental market based on various segments and regions, and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Indonesia forklift rental market. Recent market developments and competitive strategies, such as expansion, product launch, development, partnership, merger, and acquisition, have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Indonesia forklift rental market.

Driving Factors

The forklift rental market in Indonesia is driven by the 3PL outsourcing and e-commerce warehousing expansion, while government infrastructure projects drive construction equipment leasing. Demand for electric forklifts is rising, spurred by PLN green-energy incentives, and Pelindo port automation increases container-handling rentals. ISO 45001 compliance boosts the need for professional, certified rental fleets, while pay-per-use, telematics-enabled contracts gain popularity. Additionally, rising industrial park development, warehouse modernization, and seasonal logistics surges further support flexible forklift rental solutions nationwide.

Restraining Factors

The forklift rental market in Indonesia is mostly constrained by the volatile rupiah, which is increasing the cost of imported replacement parts and equipment, while a fragmented after-sales network outside Java extends operational downtime. Growing adoption of AGVs is lowering demand for traditional forklifts, and unregulated informal rental providers are putting downward pressure on rental prices.

Market Segmentation

The Indonesia forklift rental market share is classified into power source and truck class.

• The ICE segment accounted for the largest revenue market share in 2024 and is expected to grow at a significant CAGR during the forecast period. 

The Indonesia forklift rental market is segmented by power source into electric, ICE, and hybrid. Among these, the ICE segment accounted for the largest revenue market share in 2024 and is expected to grow at a significant CAGR during the forecast period. This is due to its superior performance in heavy-duty, outdoor, and rugged industrial applications, which are common in the region's expanding construction, mining, and manufacturing sectors. thanks to their reliable, high-capacity performance over long multi-shift operations. While electric models gain popularity, ICE forklifts are preferred for continuous use and their resilience in harsh environments where charging infrastructure may be limited.

The class III segment dominated the share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period. 

The Indonesia forklift rental market is segmented by truck class into class I, class II, class III, class IV, and class V. Among these, the class III segment dominated the share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period. This is due to the rising adoption of electric forklifts and automation in modern warehouses, which reflects Indonesia’s logistics sector shift toward technology-driven, high-precision operations, where electric counterbalance and reach trucks are increasingly favoured over conventional internal combustion models. Its suitability for e-commerce, 3PL, and manufacturing warehouses, combined with the rising adoption of automation and electric fleets, drives strong demand and market leadership.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Indonesia forklift rental market, along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborate analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Toyota Material Handling Indonesia
• PT UMW Equipment and Engineering
• PT United Tractors
• PT Berca Mandiri Perkasa
• PT. Max Rent Indonesia
• PT. Sarana Mitra Luas Tbk (SML Forklift)
• PT. Satria Piranti Perkasa
• Traktor Nusantara
• Deliveree Logistics
• Indotara Persada
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments:

• In May 2025, Traktor Nusantara launched a new Toyota 1.5-ton electric forklift for the Indonesian market at Forklift Indonesia 2025 in Jakarta. The company also showcased a Toyota 1.8-ton hydrogen fuel cell forklift, highlighting advanced, environmentally friendly material-handling technology for selected industrial sectors.

• In March 2025, PT. Sarana Mitra Luas Tbk (SML Forklift) inaugurated its largest workshop in Cikarang, West Java, designed to accommodate thousands of forklifts. The expansion supports rising demand from key clients including Sinarmas Group and HELI, strengthening SMIL’s rental capacity and accelerating its long-term shift toward electric forklift fleet growth.

Market Segment

This study forecasts revenue at the Indonesia, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the Indonesia forklift rental market based on the below-mentioned segments:

Indonesia Forklift Rental Market, By Power Source

• Electric
• ICE
• Hybrid

Indonesia Forklift Rental Market, By Truck Class

• Class I
• Class II
• Class III
• Class IV
• Class V