When it comes to electrification, forklifts are both ahead of the car market and behind it, and they are likely to stay that way for the near future. They are ahead of passenger cars in that battery-powered forklifts already make up a significant share of the market. Ideal for indoor operations, they're a necessity for certain environments, such as food-distribution centers. According to the Industrial Truck Association, electric forklifts' market share has been rising over the past five years. Before 2007, electric forklifts captured about 52 to 56% of annual sales. Since 2008, the share has risen to between 59 and 65%.
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