Forklift Manufacturing in the US Industry Market Research Report from IBISWorld Has Been Updated

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Recovering construction and manufacturing markets abroad have increased demand for high-quality forklifts. For these reasons, industry research firm IBISWorld has updated a report on the Forklift Manufacturing industry in its growing industry report collection.

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Manufacturers have capitalized on growing demand and falling steel costs to boost margins

The Forklift Manufacturing industry primarily manufactures forklifts, also known as industrial trucks, which are small to medium-sized material-handling vehicles used to lift and carry heavy loads from one location to another. Forklifts are used primarily by construction, manufacturing and freight-handling industries. Consequently, demand from these industries underpins revenue growth for forklift manufacturers. IBISWorld expects improved demand across these markets to spur revenue growth for the Forklift Manufacturing industry in the five years to 2014.

Profit margins have also improved considerably over the period. According to IBISWorld Industry Analyst Amal Ahmad, “Forklift manufacturers have been able to capitalize on growing demand and falling steel purchase costs to boost margins; they have also engaged in significant automation of production, enabling them to contain wage costs.” Finally, consolidation has also helped contain costs and boost operator margins. The number of participants in this industry has declined slowly but steadily through 2014, despite growing demand for, and production of, forklifts. This indicates that fewer companies are generating a greater share of sales and consolidating their presence in the industry. Toyota remains the industry's biggest player, manufacturing about one in every four forklifts sold in the United States in 2014.

The international landscape has also contributed to industry growth over the last five years. Recovering construction and manufacturing markets abroad have increased demand for high-quality forklifts. Export markets include Canada and nearby emerging markets such as Mexico and Brazil. “Still, imports of forklifts from China, Japan and other cost-efficient manufacturers have also increased over the period,” says Ahmad. This has heightened competition in the domestic market, inducing operators to continue innovating cost-efficient production and distribution solutions. Going forward, IBISWorld expects the industry to continue to benefit from growing demand for forklifts at home and abroad.

For more information, visit IBISWorld’s Forklift Manufacturing in the US industry report page.

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IBISWorld industry Report Key Topics

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.

Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
Globalization & Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
Major Companies
Operating Conditions
Capital Intensity
Key Statistics
Industry Data
Annual Change
Key Ratios

About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.

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Gavin Smith
IBISWorld
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