The market contributes more than $25 billion annually to the U.S. GDP, and for every direct job in the industry, an additional 2.5 jobs are supported elsewhere in the economy.
WASHINGTON (PRWEB) March 05, 2019
Forklift truck sales in the North America market continue their unprecedented increase. 2018 marked the fourth consecutive year of historic growth, with over a quarter million units sold and a 2.8 percent increase from 2017.
“All five truck classes exhibited growth in 2018, representing diverse demand across product lines,” said Scott Johnson, chairman of the board of directors for the Industrial Truck Association and vice president of marketing and sales for CLARK Material Handling Company.
Year-end forklift truck sales of 260,180 included electric rider trucks (Class 1 and Class 2 combined), motorized hand trucks (Class 3) and internal combustion powered trucks (Class 4 and Class 5 combined). Electric and internal combustion truck sales grew at similar rates, showing annual increases of 2.8 percent and 2.7 percent, respectively. Overall, electric products accounted for approximately 64 percent of last year’s market.
“Industrial truck sales continue to play an integral role in keeping the U.S. economy moving,” said Johnson. “The market contributes more than $25 billion annually to the U.S. GDP, and for every direct job in the industry, an additional 2.5 jobs are supported elsewhere in the economy.”
Canada and Mexico remain the two largest export countries for U.S. forklift manufacturers. “Passage of the United States Mexico Canada Trade Agreement will play a critical role in maintaining the health of our industry,” said Brian Feehan, president of the ITA. “A successful conclusion to USMCA will provide the long-term policy framework manufacturers and consumers need to ensure the North American market remains one of the strongest for our industry.” USMCA is formerly known as NAFTA, the North American Free Trade Agreement.
About ITA: For more than 65 years, the Industrial Truck Association has been the leading organization of industrial truck manufacturers and suppliers of component parts and accessories that conduct business in the United States, Canada and Mexico. Based in Washington, D.C., ITA maintains an influential voice in international standards development for the industry. The organization also advances engineering practices to promote safe products, disseminates statistical marketplace information, and provides industry forums for learning and networking. Visit http://www.indtrk.org.