Global and China Forklift Industry Report, 2020-2026
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May 2020
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In 2019, a total of 1,493,271 forklifts were sold worldwide, up 0.25% year on year, including 647,229 ones or 43.3% sold in Asia.
As the largest producer and seller of forklifts around the globe, China-made forklift sales reached 608,341 units in 2019 of which 455,516 units or 74.9% were distributed at home. China’s forklift sales would expectedly drop to 573,172 units as a result of the COVID-19 pandemic in 2020, but it will recover during 2021-2026 and climb to 743,924 units in 2026.
Nowadays, internal combustion forklifts sell best in China and the sales of such kind reported 309,704 units in 2019, accounting for 20.9% of forklift sales, whilst electric forklifts enjoyed a faster sales growth rate than internal combustion type, with the sales CAGR of 21.2% in China between 2010-2019. It is expected that electric forklift sales will keep a growth rate of 7% or so from 2021 to 2026 alongside the ever stricter environmental requirements.
What’s more, lithium battery forklift sales boomed and soared by 185.5% on an annualized basis to 74,737 units (44,264 ones sold domestically and 30,473 ones exported) in China in 2019, as a percentage of electric forklifts from 9.31% in 2018 to 25.03% in 2019.
Chinese forklift industry characterizes fairly high concentration, as is revealed from the rankings by fork sales in 2019 when Anhui Heli and Hangcha Group had the combined sales of 291,816 forklifts, a 48% share of the total and an increase of 4.6 percentage points from a year earlier. As the customers’ growing acceptance of famous brands, China’s forklift market will be concentrated further.
It is worth mentioning that the industrial vehicle market will be expanding in the wake of economic restructuring in China, and medium- and high-end internal combustion forklifts, electric and new energy forklifts as well as mobile internet technologies will find wider application. At the same time, the aftermarket value-added services like operating lease, financial leasing, accessories and remanufacturing will spring up. It is conceivable that the enterprises that are competent enough for innovation-oriented advanced manufacturing, value-added activities and international operations will embrace sustainability in future.
Highlights of this report:
Global forklift industry (orders and sales volume, key markets and competitive landscape);
Chinese forklift industry (market size, import & export, competition pattern and development tendencies);
Forklift market segments in China (status quo, sales volume, competition);
Chinese forklift aftermarket (forklift rental, used forklifts, forklift parts);
9 foreign and 31 Chinese forklift manufacturers (operation, forklift business, development strategy, etc.)
1 Overview of Forklift
1.1 Definition
1.2 Classification
1.3 Composition
1.4 Upstream and Downstream
2 Global Forklift Industry
2.1 Status Quo
2.1.1 Orders
2.1.2 Sales Volume
2.2 Major Countries/Region
2.2.1 North America
2.2.2 Japan
2.3 Major Global Forklift Companies
3 Chinese Forklift Market
3.1 Overview
3.2 Market Size
3.2.1 Sales Volume
3.2.2 Distribution
3.3 Import & Export
3.3.1 Import
3.3.2 Export
3.4 Product Competition
3.5 Enterprise Competition
3.5.1 Industry Concentration
3.5.2 Competitive Landscape
3.6 Development Trend
4 Chinese Forklift Market Segments
4.1 Internal Combustion Forklift
4.1.1 Status Quo
4.1.2 Key Manufacturers
4.2 Electric Forklift
4.2.1 Status Quo
4.2.2 Main Products
4.2.3 Key Manufacturers
4.3 New Energy Forklift
4.3.1 Overview
4.3.2 Lithium-battery Forklift
4.4 Alternative Fuel Forklift
4.5 AGV Forklift
5 Chinese Forklift Aftermarket
5.1 Status Quo
5.2 Forklift Rental
5.3 Used Forklift
5.4 Forklift Parts
6 Major Global Forklift Companies
6.1 Toyota Industries Corp
6.1.1 Profile
6.1.2 Operation
6.1.3 Revenue Structure
6.1.4 Forklift Business
6.1.5 Forklift Business in China
6.1.6 Forklift Business Planning
6.2 Kion Group
6.2.1 Profile
6.2.2 Operation
6.2.3 Revenue Structure
6.2.4 Forklift Business
6.2.5 Forklift Business in China
6.2.6 Development Strategy
6.3 Jungheinrich Group
6.3.1 Profile
6.3.2 Operation
6.3.3 Revenue Structure
6.3.4 Forklift Business
6.3.5 Forklift Business in China
6.4 Crown Equipment Corp.
6.4.1 Profile
6.4.2 Operation
6.4.3 Forklift Business in China
6.5 Mitsubishi Logisnext Co., Ltd.
6.5.1 Profile
6.5.2 Operation
6.5.3 Revenue Structure
6.5.4 Forklift Business
6.5.5 Forklift Business in China
6.6 Hyster-Yale Materials Handling, Inc
6.6.1 Profile
6.6.2 Operation
6.6.3 Revenue Structure
6.6.4 Forklift Business
6.6.5 Forklift Business in China
6.7 Komatsu Ltd.
6.7.1 Profile
6.7.2 Operation
6.7.3 Revenue Structure
6.7.4 Forklift Business
6.8 CLARK Material Handling International
6.8.1 Profile
6.8.2 Operation
6.8.3 Forklift Business
6.8.4 Forklift Business in China
6.9 Doosan Industrial Vehicle
6.9.1 Profile
6.9.2 Operation
6.9.3 Forklift Business in China
7 Major Forklift Companies in China
7.1 Anhui HeLi Co., Ltd
7.1.1 Profile
7.1.2 Operation
7.1.3 Revenue Structure
7.1.4 Gross Margin
7.1.5 R&D
7.1.6 Output & Sales
7.1.7 Development Strategy
7.2 Hangcha Group Co., Ltd
7.2.1 Profile
7.2.2 Operation
7.2.3 Revenue Structure
7.2.4 Gross Margin
7.2.5 R&D
7.2.6 Key Projects
7.2.7 Output & Sales
7.2.8 Development Strategy
7.3 Anhui VMAX Heavy Industry Co., Ltd.
7.3.1 Profile
7.3.2 Operation
7.3.3 Revenue Structure
7.3.4 Gross Margin
7.3.5 Major Customers
7.3.6 R&D Investment
7.4 Lonking (Shanghai) Forklift Co., Ltd.
7.4.1 Profile
7.4.2 Operation
7.4.3 Sales
7.5 Xiamen XGMA Machinery Co., Ltd.
7.5.1 Profile
7.5.2 Operation
7.5.3 Forklift Business
7.6 Noblelift Intelligent Equipment Co., Ltd.
7.6.1 Profile
7.6.2 Operation
7.6.3 Revenue Structure
7.6.4 Forklift Business
7.6.5 Development Strategy
7.7 Guangxi LiuGong Machinery Co., Ltd
7.7.1 Profile
7.7.2 Operation
7.7.3 Revenue Structure
7.7.4 Forklift Business
7.8 Tailift Machinery & Equipment (Qingdao) Co., Ltd.
7.8.1 Profile
7.8.2 Forklift Business
7.8.3 R&D
7.9 Hyster-Yale Maximal Forklift (Zhejiang) Co., Ltd
7.9.1 Profile
7.9.2 Operation
7.9.3 R&D
7.10 EP Equipment Co., Ltd.
7.10.1 Profile
7.10.2 Operation
7.10.3 R&D
7.11 Anhui Jianghuai-Yinlian Heavy-Duty Construction Machine Co., Ltd.
7.11.1 Profile
7.11.2 Operation
7.11.3 R&D
7.12 Ningbo Ruyi Joint Stock Co., Ltd.
7.12.1 Profile
7.12.2 Operation
7.12.3 R&D
7.13 Zhejiang Goodsense Forklift Co., Ltd.
7.13.1 Profile
7.13.2 Operation
7.14 Anhui ZOOMLION Industrial Vehicle Co. Ltd
7.14.1 Profile
7.14.2 Operation
7.14.3 R&D
7.15 Dalian Forklift Co., Ltd.
7.15.1 Profile
7.15.2 Operation
7.15.3 R&D
7.16 BYD Forklift (Shaoguan) Co., Ltd
7.16.1 Profile
7.16.2 Operation
7.16.3 R&D
7.16.4 Collaborations
7.17 Shandong Volin Heavy Industry Machinery Co., Ltd.
7.17.1 Profile
7.17.2 Operation
7.17.3 R&D
7.18 Anhui TEU Forklift Co., Ltd.
7.18.1 Profile
7.18.2 Operation
7.19 Qingdao Modern Hailin Heavy Industry Co., Ltd.
7.19.1 Profile
7.19.2 Operation
7.20 Zhejiang Jialift Warehouse Equipment Co., Ltd.
7.20.1 Profile
7.20.2 Operation
7.20.3 Revenue Structure
7.20.4 Major Customers
7.21 Others
7.21.1 Hangzhou Global Friend Precision Machinery Co., Ltd.
7.21.2 Jiangsu Jingjiang Forklift Truck Co., Ltd.
7.21.3 Vita-Wheel Holdings Ltd.
7.21.4 Shandong Leiming Heavy Industry Co., Ltd.
7.21.5 Hefei Banyitong Science & Technology Development Co., Ltd.
7.21.6 Zhejiang UN Forklift Co., Ltd.
7.21.7 Suzhou Pioneer Material Handling Equipment & Technology Co., Ltd.
7.21.8 Zhejiang Huahe Forklift Co., Ltd.
7.21.9 YTO (Luoyang) Transportation Machinery CO., Ltd.
7.21.10 Shandong WeCan Technology Co., Ltd.
7.21.11 Wuxi KIPOR Machinery Co., Ltd.
Characteristics of All Sorts of Forklifts
Composite Price Index of Steel in China, 2017-2018
Distribution of Forklift Downstream Sectors, 2018
Global Forklift Orders and YoY Growth, 2010-2020
Global Forklift Orders (by Region), 2014-2019
Global Forklift Sales Volume and YoY Growth, 2010-2020
Global Forklift Sales Volume (by Region), 2013-2020
Forklift Sales Volume in North America, 2015-2019
Forklift Sales Volume (by Product) in the United States, 2015-2019
Forklift Output (by Product) in Japan, 2009-2020
Domestic Sales Volume of Forklifts (by Product) in Japan, 2009-2020
Export Volume of Forklifts (by Product) in Japan, 2009-2020
Top 20 Forklift Companies Worldwide, 2018
China’s Forklift Sales Volume as a Percentage of Global Total, 2008-2020
Forklift Sales Volume and YoY Growth in China, 2010-2020
Forklift Sales Volume and YoY Growth in China, 2020-2026E
China's Domestic Sales Volume of Forklifts as a Percentage of Total Sales Volume, 2009-2020
Forklift Sales Structure in China by Product, 2010-2019
Import Volume of Forklifts in China, 2009-2019
Import Volume of Forklifts (by Product) in China, 2009-2019
Average Import Prices of Forklift in China by Product, 2009-2019
Forklift Imports in China by Region, 2019
Export Volume of Forklifts in China, 2009-2019
Export Volume of Forklifts (by Product) in China, 2009-2019
Average Export Prices of Forklift in China by Product, 2009-2019
Export Destinations of China-made Forklifts, 2019
Structure of Forklift Sales Volume in China by Product, 2010-2019
Structure of Forklift Sales Volume in China by Product, 2019-2026E
Concentration of China Forklift Industry, 2019
Top25 Forklift Manufacturers (by Revenue) in China, 2019
China-based Subsidiaries of Major Foreign Forklift Manufacturers, 2018
Forklift Sales Volume of Major Chinese Manufacturers, 2017-2019
Internal Combustion Forklift Sales Volume in China, 2010-2020
Internal Combustion Forklift Sales Volume in China, 2019-2026E
Internal Combustion Forklift Sales Volume in China by Fuel Type, 2014-2019
Major Internal Combustion Counterbalanced Ride-on Forklift Manufacturers in China
Electric Forklift Sales in China, 2010-2020
Electric Forklift Sales in China, 2019-2026E
Key Manufacturers of Batteries for Electric Forklift in China
Battery Suppliers for Major Overseas Forklift Manufacturers
Electric Counterbalance Ride-on Forklift Sales Volume in China, 2010-2019
Electric Warehouse Forklift Sales in China, 2010-2019
Major Electric Forklift Manufacturers in China
R&D of New Energy Forklifts of Major Companies at Home and Abroad
Performance Comparison between Lithium Battery Forklift and Storage Battery Forklift
Cost Comparison of Lithium Battery Forklift, Storage Battery Forklift and Internal Combustion Forklift
Sales Volume of Lithium-Battery Forklift in China, 2017-2026E
AGV Forklift Sales in China, 2017-2019
Intelligent Forklift Manufacturing and R&D Companies in China
Forklift Ownership in China, 2012-2026E
Forklift Rental Companies and Brands in China
Top 10 Forklift Rental Enterprises Worldwide, 2018
Folangsi’s Revenue from Forklift Rental Business, 2016-2018
Forklift Rental in China, 2013-2026E
Revenue and Net Income of Toyota, FY2014-FY2019
Revenue Breakdown of Toyota (by Business), FY2014-FY2019
Revenue of Toyota by Product, FY2017-FY2019
Revenue of Toyota by Product, FY2017-FY2019
Materials Handling Equipment Sales Volume of Toyota, FY2010-FY2019
Materials Handling Equipment Sales Volume of Toyota (by Region), FY2010-FY2018
Toyota Material Handling Group Brand Worldwide
Factory Distribution of TMHG
BT Brand Production Bases
BT Brand Product Range
Forklifts of RAYMOND
Key Forklift Companies of Toyota in China
Equity Structure of Kion Group
KION Group History
Business Segments of Kion Group
Key Financials of Kion Group, 2011-2019
Revenue Breakdown of Kion Group (by Business), 2016-2019
Revenue Breakdown of Kion Group (by Product Category), 2018-2019
Revenue Breakdown of Kion Group (by Region), 2018-2019
Forklift Business Layout of Kion Group
Industrial Vehicle & Service Revenue of Kion Group by Product Category, 2018-2019
Industrial Vehicle & Service Revenue of Kion Group by Region, 2017-2019
China-based Companies of Kion Group
Marketing Network of Linde (China) Forklift Truck in China
Marketing Network of KION Baoli (Jiangsu) Forklift Worldwide
KION 2027 Strategy
Intralogistics 4.0 of KION Group
Global Network of Jungheinrich Group
Orders, Sales and Net Income of Jungheinrich Group, 2011-2019
Primary Business of Jungheinrich Group
Revenue Breakdown of Jungheinrich Group (by Business), 2018-2019
Revenue Breakdown of Jungheinrich Group (by Region), 2010-2019
Jungheinrich Group’s Plants Worldwide, 2018
Orders and Forklift Output of Jungheinrich Group, 2012-2019
Presence of Jungheinrich Group in China
Production Scale of Jungheinrich Qingpu Factory
Operation of Jungeinrich Heli Industrial Truck Rental (China) Co., Ltd., 2018-2019
Global Operations of Crown Equipment, 2019
Revenue of Crown Equipment, 2010-2018
Revenue and Net Income of Mitsubishi Logisnext Forklift, FY2011-FY2019
Revenue Breakdown of Mitsubishi Logisnext Forklift by Region, FY2014-FY2019
Advantages of Mitsubishi Logisnext Forklift’s Products
Production Bases of Mitsubishi Logisnext Forklift
Logisnext - Service Assistant System (L-SAS)
Logistics Vehicle Support (LVS) System of Mitsubishi Logisnext
Logisnext AGV and AGF Orders
Sales Volume of Mitsubishi Logisnext, FY2016-FY2019
China-based Companies of Mitsubishi Logisnext Forklift
Hyster-Yale’s Global Footprint
Revenue and Net Income of Hyster-Yale, 2011-2019
Revenue Breakdown of Hyster-Yale (by Product/Region), 2013-2019
Forklift Series of Hyster-Yale
Forklift Production and Sales Bases of Hyster-Yale, 2019
Major Forklift Customers of Hyster-Yale
Forklift Shipments of Hyster-Yale, 2011-2019
Forklift Shipments of Hyster-Yale by Region, 2017-2019
Main Products of Komatsu
Net Sales and Net Income of Komatsu, FY2011-FY2019
Revenue Breakdown of Komatsu (by Business), FY2015-FY2019
Revenue Breakdown of Komatsu (by Region), FY2014-FY2018
Main Manufacturing Bases and Modes of Komatsu’s Construction and Mining Equipment Business
Revenue Structure of Komatsu’s Construction, Mining and Utility Equipment Business by Region, FY2017-FY2019
Overseas Production Ratio of Komatsu’s Construction and Mining Equipment
Major Forklifts of Komatsu
Sales of CLARK, 2011-2018
Major Forklifts of CLARK
Global Footprint of CLARK
Major Forklifts of CMHCN
CLARK’s Sales Network in China
Global Operations of Doosan Industrial Vehicle, 2018
Revenue of Doosan Industrial Vehicle, 2011-2018
Main Forklift Products of Anhui HeLi
Revenue and Net Income of Anhui HeLi, 2013-2019
Assets and Net Income of Anhui HeLi’s Key Subsidiaries, 2019
Operating Revenue Breakdown of Anhui HeLi (by Product), 2013-2019
Operating Revenue Structure of Anhui HeLi (by Product), 2013-2017
Operating Revenue Breakdown of Anhui HeLi (by Region), 2013-2019
Operating Revenue Structure of Anhui HeLi (by Region), 2013-2019
Gross Margin of Anhui HeLi, 2010-2019
Gross Margin (by Product) of Anhui HeLi, 2010-2019
R&D Costs and % of Total Revenue of Anhui HeLi, 2013-2019
Output, Sales and Inventory of Anhui HeLi’s Main Products, 2014-2019
Marketing and Service Network of Hangcha Group
Revenue and Net Income of Hangcha Group, 2013-2020
Operating Revenue of Hangcha Group by Product, 2013-2019
Operating Revenue of Hangcha Group by Region, 2013-2019
Operating Revenue Structure of Hangcha Group by Region, 2013-2019
Gross Margin of Hangcha Group’s Primary Business, 2013-2019
R&D Expenses and % of Total Revenue of Hangcha Group, 2013-2019
Hangcha Group’s Projects with Funds from IPO, 2018
Output, Sales and Sales/Output Ratio of Hangcha Group, 2013-2019
Revenue and Net Income of Anhui VMAX Heavy Industry, 2014-2019
Operating Revenue of Anhui VMAX Heavy Industry by Product, 2014-2019
Operating Revenue of Anhui VMAX Heavy Industry by Region, 2014-2019
Gross Margin of Anhui VMAX Heavy Industry, 2014-2019
Major Overseas Customers of Anhui VMAX Heavy Industry
Anhui VMAX Heavy Industry’s Revenue from Top5 Clients and % of Total Revenue, 2017-2018
R&D Costs and % of Total Revenue of Anhui VMAX Heavy Industry, 2014-2019
Revenue of Lonking (Shanghai) Forklift, 2014-2019
Forklift Sales of Lonking (Shanghai) Forklift, 2010-2018
Global Presence of Xiamen XGMA Machinery
Revenue and Net Income of Xiamen XGMA Machinery, 2014-2020
Revenue Breakdown of Xiamen XGMA Machinery, 2016-2019
Forklift Sales of Xiamen XGMA Machinery, 2010-2018
Revenue and Net Income of Noblelift, 2013-2020
Operating Revenue of Noblelift (by Product), 2012-2019
Product Output and Sales Volume of Noblelift, 2015-2019
Operating Revenue of Noblelift (by Region), 2012-2019
Main Forklift Products of Shanghai Noblelift Intelligent Technology
Revenue and Net Income of Guangxi LiuGong Machinery, 2012-2020
Revenue and Gross Margin of Guangxi LiuGong Machinery by Business, 2016-2019
Operating Revenue of Guangxi LiuGong Machinery by Region, 2012-2019
Main Forklift Models of Guangxi LiuGong Machinery
Production Bases of Guangxi LiuGong Machinery
Development History of Guangxi LiuGong Machinery’s Forklift Business
Forklift Sales of Guangxi LiuGong Machinery, 2011-2018
Major Customers of Tailift Machinery & Equipment (Qingdao)
Production Distribution of Tailift Machinery & Equipment (Qingdao)
Customers of Hyster-Yale Maximal Forklift (Zhejiang)
Development History of Zhejiang Maximal Forklift
Sales of Zhejiang Maximal Forklift, 2010-2018
Development History of EP Equipment
Capacity of EP Equipment
Equity Structure of Anhui Jianghuai-Yinlian Heavy-Duty Construction Machine
Forklift Sales of Anhui Jianghuai-Yinlian Heavy-Duty Construction Machine, 2010-2018
Feature of Lithium-Battery Forklift "Xilin Xiaoli"of Ningbo Ruyi
Major Customers of Zhejiang Goodsense Forklift
Equity Structure of Anhui Zoomlion Industrial Vehicle
Forklift Sales Network of Anhui Zoomlion Industrial Vehicle
Main Forklift Products of Anhui Zoomlion Industrial Vehicle
Main Forklift Products of Dalian Forklift
Forklift Sales of Dalian Forklift, 2010-2018
Global Presences of BYD Forklift
Sales Volume of Forklift of BYD, 2016-2020E
Global Network of Anhui TEU Forklift
Revenue and Net Income of Zhejiang Jialift Warehouse Equipment, 2014-2019
Operating Revenue of Zhejiang Jialift Warehouse Equipment by Product, 2014-2019
Operating Revenue of Zhejiang Jialift Warehouse Equipment by Region, 2014-2019
Zhejiang Jialift Warehouse Equipment’s Revenue from Top5 Customers and % of Total Revenue, 2016-2018
Sales Network of Hefei Banyitong Science & Technology Development
Global Sales Network of Zhejiang UN Forklift
Global Sales Network of Zhejiang Huahe Forklift
Revenue and Net Income of YTO (Luoyang) Transportation Machinery, 2014-2017
Global Network of Shandong WeCan Technology
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