Companiesandmarkets.com

Forklift market hitting a record high in terms of sales

Press Release   •   Oct 24, 2012 16:26 BST

The global forklift market has been experiencing a strong recovery in the European and American markets, and combined with the steady growth of the Asian market in 2011, the global forklift industry hit another record high, with order quantity and sales volume attaining a Year-on-Year rise of 22.67% and 27.15% respectively.

On the American continent, orders leapt 24.1% from 181,060 units in 2010 to 224,773 units in 2011. In Europe, orders grew 23.6% from 267,436 units to 330,616 units. In Asia, orders swelled 20.4% from 315,449 units to 379, 969 units. Total worldwide orders were 974,582 units in 2011, compared to 794,452 units the year before.

A forklift truck is a powered industrial truck used to lift and transport materials. The modern forklift was developed in the 1920s by various companies including the transmission manufacturing company Clark and the hoist company Yale & Towne Manufacturing. The forklift has since become an indispensable piece of equipment in manufacturing and warehousing operations.

China is playing an increasingly prominent role in the global forklift market. Since it became the world's first largest forklift sales market in 2009, China has been ranking No. 1 in sales volume of forklift which has constituted around a quarter of the global total.

In recent years, the rising demand from logistics and warehousing has boomed the Chinese forklift market. The total sales volume of forklifts broke 200,000 units in 2010 and 300,000 units (313,847) in 2011, reaching a historic high.

Anhui Forklift Truck Group and Zhejiang Hangcha firmly dominate nearly half of China's forklift market. In 2011, Anhui Forklift Truck Group maintained No. 1 position with sales volume of 70,840 forklifts, followed by Zhejiang Hangcha, with its forklift sales volume accounting for 21.76%.

For more information on the global forklift market, see the latest research: Global Forklift Market

Follow us on Twitter @CandMResearch

Companiesandmarkets.com issues news updates and report summaries covering all major industries and sectors. The service provides additional client monitoring and timely alerts to breaking industry and sector news leading the day's business headlines. News articles, written by our staff, contain additional analyst insight, providing value added insight for our readers. News updates and real-time alerts on newly-released market reports are also available from our Facebook page, Twitter feed @CandMResearch and RSS links. We also welcome inquiries from business journalists and the news media.