The Forklift and Conveyor Manufacturing industry is a mature industry with clearly defined markets and widely accepted product lines that have few substitutes. A variety of downstream industries drive demand for this industry's diverse set of product lines. This industry has experienced inconsistent revenue growth over the five-year period, despite increasing per unit sales figures that have grown steadily with the continuing US economic recovery. Recovery in the freight and manufacturing sectors has led to a rebound in downstream demand and is expected to drive revenue growth as production increases. Beyond 2016, industry performance will strengthen as key domestic and foreign downstream markets grow in line with falling unemployment, renewed consumer spending and increased business investment. Demand for heavy infrastructure construction is expected to surpass previous levels within the next five years, along with demand for manufacturing and freight.
Operators in this industry manufacture equipment used to lift or move materials. Major products include forklifts; industrial tractors and trucks; escalators and elevators; conveyors; overhead hoists, winches, cranes and monorail systems; and related parts, attachments and equipment. This industry excludes operators that manufacture construction-type tractors and cranes; these companies are included in the Construction Machinery Manufacturing industry (IBISWorld report 33312).
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.