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Forklift Manufacturing in the US Industry Data and Analysis
Over the past five years, the forklift manufacturing industry has been shaped significantly by technological advancements, primarily in automation. This trend has enabled manufacturers to combat rising costs effectively by streamlining processes and reducing reliance on manual labor, thereby maintaining stable profit margin. Despite increasing costs in raw materials and fluctuations in demand, manufacturers have utilized automation to control wage expenses, which has played a crucial role in stabilizing profitability. At the end of 2025, the industry is experiencing a modest revenue growth rate of 0.2%, leading to an overall revenue of $14.1 billion. Over this period, the industry has achieved a CAGR of 3.8%, reflecting the resilience and adaptability of manufacturers amid market challenges.
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What's included in this industry analysis
IBISWorld's research coverage on the Forklift Manufacturing industry in the United States includes market sizing, forecasting, data and analysis from 2015-2030. The most recent publication was released October 2025.
About this industry
What's this industry report about?
The Forklift Manufacturing industry in the United States operates under the NAICS industry code OD4919. Forklift manufacturers specialize in designing, producing and selling forklifts, industrial trucks for lifting, transporting and stacking materials. These manufacturers supply forklifts to various industries, including construction, warehousing, manufacturing, logistics and distribution. They can also specialize in producing and selling parts and attachments for forklifts. Related terms covered in the Forklift Manufacturing industry in the United States include lift truck, narrow-aisling capabilities and load engagement.
What's included in this industry?
Products and services covered in Forklift Manufacturing industry in the United States include Internal combustion engine work trucks, Motorized hand-guided work trucks and Bulk powered material moving equipment.
What companies are included in this industry?
Companies covered in the Forklift Manufacturing industry in the United States include Hyster-Yale Materials Handling, Inc., Crown Equipment Corporation and Kion Group AG.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Forklift Manufacturing industry in the United States.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed product and service segmentation, analysis of major markets and international trade data for the for the Forklift Manufacturing industry in the United States.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Forklift Manufacturing industry in the United States.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Forklift Manufacturing industry in the United States. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Forklift Manufacturing industry in the United States. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Forklift Manufacturing industry in the United States. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Forklift Manufacturing industry in the United States. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Forklift Manufacturing industry in the United States.
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Frequently Asked Questions
What is the market size of the Forklift Manufacturing industry in the United States in 2026?
The market size of the Forklift Manufacturing industry in the United States is $14.1bn in 2026.
How many businesses are there in the Forklift Manufacturing industry in the United States in 2025?
There are 309 businesses in the Forklift Manufacturing industry in the United States, which has declined at a CAGR of 0.9 % between 2020 and 2025.
How may import tariffs affect the Forklift Manufacturing industry in the United States?
The Forklift Manufacturing industry in the United States is likely to be significantly impacted by import tariffs with imports accounting for a high share of industry revenue.
How may export tariffs affect the Forklift Manufacturing industry in the United States?
The Forklift Manufacturing industry in the United States is likely to be significantly impacted by export tariffs with exports accounting for a high share of industry revenue.
Has the Forklift Manufacturing industry in the United States grown or declined over the past 5 years?
The market size of the Forklift Manufacturing industry in the United States has been growing at a CAGR of 3.8 % between 2020 and 2025.
What is the forecast growth of the Forklift Manufacturing industry in the United States over the next 5 years?
Over the next five years, the Forklift Manufacturing industry in the United States is expected to grow.
What are the biggest companies in the Forklift Manufacturing industry in the United States?
The biggest companies operating in the Forklift Manufacturing industry in the United States are Hyster-Yale Materials Handling, Inc., Crown Equipment Corporation and Kion Group AG
What does the Forklift Manufacturing industry in the United States include?
Manufacturing electric operator-riding work trucks and Manufacturing motorized hand-guided work trucks are part of the Forklift Manufacturing industry in the United States.
Which companies have the highest market share in the Forklift Manufacturing industry in the United States?
The company holding the most market share in the Forklift Manufacturing industry in the United States is Hyster-Yale Materials Handling, Inc..
How competitive is the Forklift Manufacturing industry in the United States?
The level of competition is moderate and steady in the Forklift Manufacturing industry in the United States.
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