Forklift Manufacturing in the US - Industry Market Research Report

Forklift Manufacturing in the US - Industry Market Research Report

  • May 2020 •
  • 34 pages •
  • Report ID: 5103862 •
  • Format: PDF
Lift up: Construction and manufacturing activity will keep revenue on an upward trend

Abstract

Forklift Manufacturing
Despite growing demand across construction, manufacturing and freight-handling industries, revenue for the Forklift Manufacturing industry is expected to decline over the five years to 2018 due to rising competition from forklift operators. Despite increased input costs and wage expenditures, industry profit margins have risen during the period. Profit margins have grown as major industry operators vertically integrate to reduce operating expenses. Merger and acquisition activity has contributed to a decline in the number of industry operators but has also yielded an increase in industry employment. Over the five years to 2023, growing construction and manufacturing markets abroad and forecasted depreciation in the value of the US dollar will increase demand for high-quality forklifts produced in the United States. Over the next five years, industry revenue is forecast to grow marginally. This will lead to an increase in exports’ share of revenue over the five years to 2023. Additionally, a slightly decreasing share of domestic demand will be fulfilled by imports, as domestic goods better compete with imports.

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.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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