To no one’s surprise, forklift sales in the North American market (U.S. and Canada) dropped by 5.1% in 2020, largely due to the impact of the COVID- 19 pandemic. But with the economy now in resurgence, so too is the forklift industry rebounding, with first quarter sales being characterizedas “healthy” by the Industrial Truck Association (ITA).
“The forklift industry performed well throughout the
pandemic thanks to the essential nature of our products and
the dedicated associates in our industry,” reports Jay Gusler,
chairman of the ITA and executive vice president operations
for Mitsubishi Logisnext Americas Group.
According to ITA, the North American market for forklifts in
2020 forklift reached 230,134, which includes 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). Class 2 and Class 3 trucks saw a small increase from 2019
at 2.0% and 1.1%, respectively. The remaining classes declined,with Class 5 seeing the largest decrease at 19.7%.
As is our annual tradition, MH&L again presents our ranking of the 10 largest global manufacturers of forklifts, rankedby revenue. These suppliers provide some of the leading material handling technologies and vehicles used worldwide bycompanies to manage their warehouses and distribution centers, and many of them are at the forefront of developing andpromoting the latest in forklift safety technologies. All financial figures are stated in U.S. dollars, basedon the relevant exchange rate as of December 31, 2020. The information was providedby the companies, unless otherwise noted.
1. TOYOTA INDUSTRIES
Toyota Industries Corp., based in Kariya,Aichi, Japan, manufactures forklifts sold underthe Toyota and Raymond brands, as well asautomobiles (primarily the RAV4), automotiveair conditioning equipment, electronic partsand textile machinery. The company’s revenuessolely from the material handling/forklift market in 2020 were $13.88 billion, which whenfactoring in the exchange rate was said to be “onpar” with 2019 results, according to Toyota. Thecompany remains comfortably in the lead as theworld’s biggest forklift manufacturer.
THE TOP 10 FORKLIFTMANUFACTURERS OF
RADUCOMES | DREAMS TIME
Made in the USA
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Toyota High-Capacity Core IC Pneumaticforklift.
MH&L looks at the 10 largestglobal manufacturersof lift trucks, ranked by sales.
By Dave Blanchard