Industry Analysis & Industry Trends
The Forklift Manufacturing industry relies on demand from the construction, manufacturing and freight-handling industries. Consequently, forklift manufacturers suffered during the recession, but are expected to experience continued revenue growth in the next five years as these downstream industries recover. Profit margins have also improved considerably due to growing demand, falling steel purchase costs and significant automation of production. Additionally, the international landscape has contributed to industry growth; however, imports from China, Japan and other cost-efficient manufacturers have also increased competition in the domestic market.... purchase to read more
Industry Report - Industry Products Chapter
Forklifts and industrial trucks primarily provide the capability of engaging, lifting, repositioning, carrying and depositing various types of loads. As their purpose and usefulness remain similar across product segments, their share of revenue is also evenly spread.
The following segmentation is based off the Industrial Truck Association's (ITA) historical data for US shipments. ITA classifies forklifts and industrial trucks from Class 1 to Class 7 according to their engine type, work environment, operator position and equipment characteristics. Classes 6 and 7 are excluded from ITA data, as their specialized, heavy-duty nature limits their impact on the industry. The sale of relevant parts and attachments is included within each segment... purchase to read more