Nov 24, 2021 Warehousing Ireland Uncategorized Comments Off on Forklift market rebound causes gap between order intakes and shipments
Updated research from global market intelligence firm Interact Analysis shows that, despite some current difficulties with shipping finished products, there is a very positive long-term projection for the forklift market.
The pandemic caused order intake in the first quarter of 2020 to drop almost 70% year-on-year, but the second quarter saw a huge rebound in the market, particularly in Asia. The knock-on effect of this was supply-chain blockages which resulted in a growing gap between order intakes and shipments, with shipment growth in 2021 growing only half as fast as orders (see Fig. 1).
The long-term outlook for the forklift market nevertheless remains positive, and will be driven by three key trends: e-commerce, electrification, and digitalization. Forklift growth in e-commerce markets is driven by an ever-growing need to improve competitive efficiency via mechanization and automation. Meanwhile, an unprecedented drive from government and industry to reduce carbon emissions is turbocharging the electrification of commercial vehicles of all types. Forklifts are particularly easy to electrify due to their low weights and limited range requirements, and electrification of forklifts – already a widespread trend – will therefore continue to accelerate. Finally, advances in digitalization will drive the market for autonomous forklifts in the medium-term.
From a regional perspective, China’s forklift shipment rate surpassed Europe for the first time in 2020, accounting for 38.7% of the global total. The only other region to report growth in that year was South America, with the rest of the world experiencing a contraction of ~8%. However, during 2021, all areas will rebound with a rate of at least 10% apart from Japan which is set for 2% decline.
Maya Xiao, Senior Analyst at interact Analysis, says: “Toyota, along with China’s Anhui Heli and Hangcha groups, held the top three 2020 market shares in shipment terms at 17.1%, 14.2%, and 13.3% respectively. Heli and Hangcha achieved the status of top three suppliers in 2020 for the first time, as a result of robust performance in their domestic Chinese market relative to the rest of the world. In contrast to this, while Toyota maintained its status as global #1 supplier in 2020, their market share fell by 0.9%. As the rest of the world rebounds from COVID-19 and as supply chains gradually loosen, we can expect further significant changes in the relative market positions of forklift suppliers.”
About the Report:
The 2nd edition of the well-respected Interact Analysis market report on the global forklift industry looks at Class 1-5 forklifts mainly in manufacturing and logistics environments with a focus on electrification.
About Interact Analysis
With over 200 years of combined experience, Interact Analysis is the market intelligence authority for global supply chain automation. Our research covers the entire automation value chain – from the technology used to automate factory production, through inventory storage and distribution channels, to the transportation of the finished goods. The world’s leading companies trust us to surface robust insights and opportunities for technology-driven growth.
Sep 30, 2023 Comments Off on Movu Robotics: Bringing easier automation to the world’s warehouses
Sep 30, 2023 Comments Off on Dimerco: Dedicated followers of fashion supply chain on complex projects
Sep 30, 2023 Comments Off on Garbe Industrial Real Estate leases property at the Westfalenhütte industrial site
Sep 13, 2020 Comments Off on Hyster Europe expands its range of electric counterbalance lift trucks
Jul 12, 2020 Comments Off on How to safely buy a used ATEX forklift
Apr 26, 2020 Comments Off on Fully-electric aircraft pushback tractor undergoing trials at major international airport
Sep 09, 2023 Comments Off on UKWA Warehouse Roadshow 2023 heads to Belfast: 27 September
Next stop for the UK Warehousing Association (UKWA) Warehouse Roadshow 2023 will be Northern Ireland. Following a successful regional event in Newport, Wales earlier this year, businesses...Nov 05, 2022 Comments Off on Beaverswood has hazards and restricted area marking safely taped
Quick and effective highlighting of hazards and restricted areas in industrial premises and offices is provided by yellow/black self-adhesive marking tape, now available from workplace...Nov 22, 2020 Comments Off on Axial Properties Ltd fined €80,000 following serious incident in Clonee warehouse