Forklift & Conveyor Manufacturing in the US
The Forklift and Conveyor Manufacturing industry is mature, 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. The industry has experienced moderately volatile revenue growth over the past five years. Strong construction figures have boosted revenue sporadically during the period, but revenue is expected to decline overall. The ebb and flow of construction markets added to volatility over the five years. However, the main culprit of recent declines has been low commodity prices. Over the five years to 2023, industry performance will strengthen as key domestic and foreign downstream markets grow in line with strong unemployment figures, continued consumer spending and increased business investment.
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.
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