Despite growing demand across construction, manufacturing and freight-handling industries, revenue for the Forklift Manufacturing industry is expected to decline over the five years to 2017 as a result of low commodity prices. Forklift manufacturers have been able to capitalize on falling steel prices to boost profit margins. In addition, operators have engaged in significant production automation, enabling them to contain wage costs. Recovering construction and manufacturing markets abroad have increased demand for high-quality forklifts; however, a rapidly increasing trade-weighted index has led to a decrease in exports. Moving forward, IBISWorld expects the industry to benefit from growing demand for forklifts domestically and abroad. Over the five years to 2022, industry revenue is forecast to grow.
Companies in this industry primarily manufacture forklifts, which are also known as industrial trucks. Forklifts include truck-type and hand-type pallet movers, skid jacks and portable stackers. Forklifts can load material and transport it over short distances and are used heavily in the construction, manufacturing and freight logistics sectors. This industry’s operations also include the manufacture and sale of parts and attachments for forklifts.
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.