Forklifts are essential equipment for businesses involved in warehousing, manufacturing, logistics, and construction in India. They help move heavy materials quickly and safely, reduce dependence on manual labour, and improve overall productivity. With increasing demand for faster operations, choosing the right forklift and financing it wisely has become important for business success. While planning your investment, you can also check your industrial equipment finance eligibility early to make informed decisions.
What is a forklift?
A forklift is a powered industrial vehicle used to lift, carry, and stack heavy goods over short distances. It is mainly used to handle palletised goods, raw materials, and finished products. Forklifts are designed to work efficiently in limited spaces like warehouses and help reduce workplace accidents.
10 major types of forklifts
- Counterbalance forklift – The most commonly used forklift in India, suitable for warehouses and factories. It balances the load with a weight at the rear and is easy to operate.
- Reach truck – Designed for narrow aisles, these forklifts can reach higher shelves, making them ideal for large warehouses with vertical storage.
- Pallet jack – Used for moving pallets over short distances. It is cost-effective and suitable for small warehouses and retail stores.
- Rough terrain forklift – Built with strong tyres and a powerful engine, it is used at construction sites and outdoor locations with uneven surfaces.
- Telehandler – A versatile forklift with a telescopic arm, commonly used in agriculture, construction, and infrastructure projects.
- Side loader – Ideal for handling long and bulky materials like pipes, wooden planks, and steel bars in narrow spaces.
- Industrial forklift – Designed for heavy-duty work, these forklifts can lift extremely heavy loads in factories and ports.
- Warehouse forklift – Specially designed for indoor use, these forklifts help in stacking and retrieving goods efficiently.
- Walkie stacker – A compact and easy-to-use forklift suitable for small warehouses with limited space.
- Order picker – Allows operators to pick individual items from high shelves, commonly used in e-commerce warehouses.
Classifications of forklifts
- By power source:
Electric forklifts are used indoors as they produce no emissions, while diesel and LPG forklifts are preferred for outdoor and heavy-duty work. - By usage type:
Forklifts are designed for specific uses such as warehousing, manufacturing, construction, or agriculture. - By load capacity:
Light-duty forklifts handle small loads, while heavy-duty forklifts are used for lifting large and heavy materials. - By working environment:
Indoor forklifts focus on manoeuvrability, while outdoor forklifts are built for rough conditions.
Key specifications to consider before purchasing forklifts
- Load capacity:
Businesses should choose a forklift that can safely lift their heaviest load. - Lift height:
The forklift must match the height of storage racks or shelves. - Fuel type:
Electric forklifts reduce running costs, while fuel-based forklifts are better for continuous use. - Tyres:
Solid tyres are suitable for smooth floors, while pneumatic tyres work better outdoors. - Maintenance and service:
Easy availability of service centres and spare parts reduces downtime.
Forklift price range in India
Forklift prices vary based on specifications and usage.
| Forklift type | Price range (Approx.) |
|---|---|
| Electric forklift | Rs. 6 lakh – Rs. 15 lakh |
| Diesel forklift | Rs. 7 lakh – Rs. 20 lakh |
| LPG forklift | Rs. 6.5 lakh – Rs. 18 lakh |
| Reach truck | Rs. 10 lakh – Rs. 25 lakh |
| Rough terrain forklift | Rs. 12 lakh – Rs. 30 lakh |
How to choose the right forklift for your business
- Understand operational needs:
Analyse daily material movement and load size. - Check space availability:
Narrow aisles may require compact or reach trucks. - Consider long-term use:
Select a forklift that supports future expansion. - Evaluate costs:
Compare fuel, maintenance, and repair expenses. - Ensure after-sales support:
Reliable service ensures uninterrupted operations.
Financial solutions for forklift acquisition
Forklifts involve high capital investment. Businesses can reduce this burden by opting for a Machinery Loan, which allows them to purchase forklifts through affordable EMIs. Larger enterprises can choose Industrial Equipment Finance to acquire advanced forklifts while maintaining cash flow.
How to finance forklift for business
- Machinery Loan:
Ideal for small and medium businesses to finance forklifts with flexible tenures. - Industrial Equipment Finance:
Suitable for large-scale industrial operations needing heavy-duty forklifts. - Repayment planning:
Choose EMIs that match monthly cash flow. - Eligibility check:
Ensure documents and financial records are in place before applying.
Conclusion
Forklifts help businesses handle materials efficiently and safely. Selecting the right forklift type and financing option ensures smooth operations and steady growth. Businesses can also consider a business loan, compare the business loan interest rate, and check repayment options using a business loan eligibility calculator to manage expenses effectively, while you can also check your pre-approved industrial equipment finance offer to streamline the purchase process.
