Albany, NY -- (SBWIRE) -- 10/19/2016 -- Europe witnessed a fastest growth among global regional forklift market in 2015 with a sales volume increase of 6.12% to 359,096. Encumbered by depressed Brazil demand, the sales growth in America was less than 2%, even though sales in the United States increased by 6.25%. As for Asia, since China accounts for over 60% of Asia's forklift market, the shrinking in China forklift market affected the overall performance of Asia's forklift market in 2015.
From the financial crisis to 2011, China's forklift market experienced high growth. The market formed a three years increasing cycle since 2009. In 2015 it adjusted back to the developing level of 2013. The sales volume of forklift in China reached 236,976, which decreased 12% compared with the figure in 2014, and still being the largest forklift market in the world.
In 2015, China's domestic forklift market was slightly fluctuant due to the transformation of 'Phase II Diesel Engine Discharge Standard ' to 'Phase III'. Manufacturers speed up to clean up the inventories. Export experienced slight increase in 2015.It is important to realize that the export growth of domestic brands has obviously slowed down and foreign brands achieved significant increase in export in recent years.
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From the perspective of market structure, lifting tonnage of 3.0 to 5.0 accounts for over 80% of the total sales of internal combustion counterbalanced forklifts in China in 2015, while 1.2 to 2.0 lifting tonnage took majority of electric counterbalanced forklift sales. Storage logistics, electric/manufacturing and automobile still being the largest three downstream markets of forklift in 2015. Among which, storage logistics consumed 17.07% of total forklifts in China. Rental market still active though it only contributed less than 3% of total sales. Electric forklift rental market is mainly dominated by foreign brands, domestic brands have to compete in internal combustion forklift market. In 2018, forklift rental will take 7% of the total stock of forklifts in China.
In the short term, the proportion of China's electric forklift will steadily grow to 40% in 2020, which still has a gap compared with developed countries and regions. With the economic structural adjustment goes deeper, the situation of homogeneous and low price competition in China will gradually improve. The market will continue to subdivide, which contains opportunities for differentiated products and high-end products. After market services, including forklift rental, used forklift and fleet management will become additive profitable business for manufacturers and dealers.
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Table of Content
1. Overview of Forklift
1.2 Upstream & Downstream
1.3 Operating Environment and Regulation of Forklifts
2. Status Quo of Global Forklift Industry
2.1.1 Order Intake
2.1.2 Sales Volume
2.1.3 Regional Markets
2.2 Forklift Development in Major Countries
2.2.1 United States
2.3 Key Global Forklift Manufacturers
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