World Ranking 2023/2024 - Industrial Trucks
Toyota Material Handling tops the list with a sales volume of 17.022 million euros and a market share of 29.04%. Its forklift brands such as Toyota, BT, and Raymond have a wide global presence and are the preferred choice for numerous enterprises due to their outstanding product quality and advanced technology.
The company has a complete range of electric forklift products, with lithium battery technology as the core, integrating an intelligent energy management system and precise control technology, ensuring long-term and efficient operation and significantly enhancing warehousing and logistics efficiency. For example, the Toyota 8-Series electric forklift optimizes the motor control and hydraulic system, enabling precise operations, energy conservation, and noise reduction. The Raymond series is a leading player in the narrow-aisle warehousing forklift field, capable of achieving high-density storage and rapid access, adapting to complex warehousing layouts, demonstrating Toyota's profound expertise in electric forklift technology innovation and application expansion.
www.toyotamaterialhandling-international.com
The Kion Group ranks second, with an annual sales volume of 8.480 million euros and a market share of 14.47%. Through the synergy of multiple brands such as Linde and Still, it comprehensively covers the high-end and economy forklift markets and various niche segments. It has achieved fruitful results in supply chain optimization and service network expansion, constructing an efficient global parts supply system and professional after-sales network to ensure high equipment availability and low maintenance costs.
The group continuously increases its R & D investment, focusing on the integration of new energy and autonomous driving technologies, and developing intelligent forklift systems that enable automatic vehicle navigation, intelligent cargo identification, and transportation, thus enhancing the automation and intelligence level of logistics and consolidating its competitive edge in the European and global markets.
www.kiongroup.com
Jungheinrich ranks third, with a sales volume of 5.546 million euros and a market share of 9.46%. On the occasion of its 70th anniversary, it strategically acquired the Storage Solutions Group in the United States and Magazino in Germany, accelerating technological and business expansion. Its forklift products feature advanced energy recovery technology and an efficient battery management system, extending battery life and reducing energy consumption.
The electric warehousing forklifts emphasize ergonomic design, providing comfortable operation, excellent vision, and high precision. The company independently develops automated warehousing solutions, covering automatic guided vehicles (AGV), stackers, and the integration of warehousing management software, offering customers one-stop intelligent logistics solutions and leading the trend of industry automation transformation.
www.jungheinrich.com
Crown Equipment ranks fourth, with a sales volume of 4.790 million euros and a market share of 8.17%. Headquartered in the United States, its production, sales, and service network spans 84 countries worldwide, customizing products and services precisely according to local needs. Its forklift design perfectly combines aesthetics and functionality, winning numerous international design awards. In its core product series, the electric counterbalanced forklift adopts new motor and electronic control technologies, delivering powerful and stable performance.
The Reach forklift features an innovative mast design and an optimized hydraulic system, improving lifting and lowering speeds and positioning accuracy. Additionally, the company has unique advantages in developing automation and fleet management systems, optimizing the operation of forklift fleets through remote monitoring and intelligent scheduling, enhancing overall logistics efficiency and asset utilization, and serving global customers with high-quality, high-performance, and intelligent products.
www.crown.com
Mitsubishi Logisnext ranks fifth, with a sales volume of 4.617 million euros and a market share of 7.88%. As a renowned Japanese enterprise, it has steadily expanded in the global forklift market, with its sales volume increasing for three consecutive years in 2023/2024. Its products are renowned for their technical reliability and innovative adaptability. Under its umbrella, brands such as Mitsubishi, Nichiyu, and TCM cover various types of forklifts and material handling equipment. The forklift power systems are highly efficient and energy-saving, employing advanced engine technologies and energy conversion devices.
The control systems integrate electronic control and hydraulic technology, enabling precise operation and load adaptation. The company attaches great importance to the application of environmental protection technologies, researching and developing low-emission and zero-emission forklifts to meet the global green logistics needs, and has gained a good reputation and market share in the Asian, European, and American markets through continuous innovation and high-quality product services.
www.logisnext.com
Hyster-Yale Materials Handling ranks sixth, with a sales volume of 3.625 million euros and a market share of 6.18%. Its brands, including Hyster and Yale, have a long history and profound heritage. In 2023, the company achieved record highs in forklift sales and revenue, performing strongly in the American market with a significant proportion of sales. It continuously increases its R & D investment and has made remarkable achievements in forklift power technology innovation.
The new engine technology enhances power output and fuel efficiency. The company offers a rich variety of attachments for material handling equipment, developing specialized attachments compatible with multiple brand forklifts, expanding application scenarios. Actively embracing the electrification trend, it accelerates the research and development and promotion of electric forklifts, optimizes battery technology and charging facility support, improves overall equipment performance and market competitiveness, and reshapes its industry position.
www.hyster-yale.com
Anhui Heli ranks seventh, with a sales volume of 2.281 million euros and a market share of 3.89%. As a leading forklift enterprise in China, it capitalizes on the scale advantages of the domestic market and the synergy of industrial clusters to continuously expand the international market. Its product quality aligns with international first-class standards, and its R & D efforts focus on cutting-edge fields such as new energy and intelligent driving.
The company has a rich product line of electric forklifts, incorporating advanced lithium battery technology and intelligent control systems to enhance operation endurance and efficiency. Through a dealer network spanning over 80 countries and overseas R & D and production base, it delves into local market needs, optimizes product design and service models, steadily increasing its brand's international influence and market share, and providing high-performance-price-ratio material handling solutions for global customers, demonstrating the strength of "Chinese Intelligent Manufacturing."
www.helichina.net
Hangcha Group ranks eighth, with a sales volume of 2.092 million euros and a market share of 3.57%. In 2023, both its sales and profit reached new highs, advancing simultaneously in the domestic and international markets. The company maintains continuous growth in R & D investment and has achieved outstanding results in electric forklift technology innovation. It has developed high-efficiency drive motors and intelligent charging technologies, improving vehicle performance and usability.
Actively promoting the intelligent upgrade of products, it incorporates functions such as automatic obstacle avoidance and intelligent warehousing docking, realizing automated forklift operations. Accelerating its global layout, it has established new branches in Brazil and Mexico, expanding into emerging markets, and enhancing its global brand awareness and reputation through high-quality products and localized services, injecting strong impetus into the development of global industrial logistics.
www.hc-forklift.com
Kalmar, a core enterprise under the Cargotec Group, ranks ninth, with a sales volume of 2.050 million euros and a market share of 3.50%. Specializing in the research and development and manufacturing of cargo handling equipment for ports and logistics centers, its products include heavy-duty equipment such as container forklifts, reach stackers, and stackers. The company has significant technical advantages, with its equipment featuring strong lifting capacity, wide operating range, and high stability.
It adopts advanced hydraulic and electronic control technologies to achieve precise operation and efficient work. Actively engaged in the electrification transformation, it develops electric port equipment to reduce costs, increase efficiency, and protect the environment. Kalmar leads in the global port equipment market share, providing crucial equipment support for the efficient operation of global port logistics with its professional technology and rich industry experience.
www.cargotec.com
Doosan Bobcat ranks tenth, with a sales volume of 1.232 million euros and a market share of 2.10%. The enterprise has expanded into the forklift field with its expertise in compact construction machinery manufacturing, achieving diversified business synergy. Its forklift products integrate the essence of construction machinery technology, featuring a solid structure, reliable performance, and strong adaptability to heavy loads and harsh working conditions. The power system is robust and stable, offering multiple power options such as fuel and electricity.
The company emphasizes the development of product versatility, with some forklifts configurable with various attachments to achieve compound functions such as shoveling, excavation, and hoisting, expanding the application boundaries. With a mature global brand layout, it has won customer recognition in the European, American, and Asian markets through differentiated product strategies and a comprehensive service system, witnessing a steady growth in market share and injecting innovative vitality and competitive momentum into the material handling market.
www.doosanbobcat.com
Founded in 1917, Clark Material Handling Company was the first company in the world to manufacture forklifts and has a long history of experience in the material handling field.Clark Europe GmbH is headquartered in Duisburg, Germany and serves the EMEA region with over 180 sales partners in 60 countries. with more than 180 sales partners in 60 countries.
Clark Material Handling's net sales for 2023 increased from KRW 1.17 trillion (2022) to KRW 1.36 trillion in the reporting year, with a corresponding increase from €862 million (2022) to €963 million. In principle, the family-owned company does not disclose profit and loss information.
www.clarkmheu.com
Hyundai Material Handling had the highest sales increase among the 30 companies worldwide, amounting to almost 90% (in euro terms). After 434 million euros in 2022 or 58.8 billion won in the previous year, the South Korean company achieved total sales of 1.16 billion won or 818 million euros in 2023. As a result, Hyundai Material Handling moved from 15th to 12th place in the global rankings. According to the company, this sales development is mainly due to the order backlog for 2021 and 2022. It remains to be seen how the company will develop next.
www.hyundai-mh.eu
Compared to the previous year, EP Equipment's turnover increased from RMB 5 billion to RMB 5.9 billion, i.e. from €708 million to €773 million, placing the company in 13th position. The company began producing industrial trucks in China in 2007, entered the US market in 2009 with the acquisition of the manufacturer Big Joe, and further expanded into Europe in 2011 with the opening of a subsidiary in Belgium. 2013 saw total sales of around 10,000 units, and 2019 sales are already ten times that of the previous year.
www.ep-equipment.com
The Merlo Group is a leading mechanical engineering company founded in 1964 in Cuneo, Italy, which produces a wide range of machinery such as telescopic forklift trucks, concrete mixers, waste compactors, tractors, etc.
The Merlo Group's sales increased by €595 million (2021) and €677 million (2022) to €734.6 million in the current year.Following sales increases of €595.0 million (2021) and €677.0 million (2022), the Merlo Group reached a new high of €734.6 million in the current year.The number of employees at the Merlo Group rose to 1,682 from 1,606 in the previous year. Of these, 1,212 work in the on-site conveyor industry, compared with 1,103 last year.
www.merlo.com
For years, Komatsu has been reporting aggregate figures for the group, which has the largest sales in the construction machinery segment, but not in the sense of the definition of industrial trucks. Compared to the previous year, the total number of employees in the Komatsu Group increased from 64,343 to 65,738.
www.komatsu.com
Chinese industrial vehicle manufacturer Lonking Forklift is equivalent to 16th place with net sales of CNY 3.65 billion in 2023, compared to CNY 3.35 billion last year, and EUR 477 million after EUR 473 million in 2022. The share of industrial trucks in Group sales rose from around 30% (2022) to 34%. The total number of employees in the reporting year fell from 7,762 (2022) to 7,204.
www.lonkinggroup.com
Founded in Ireland in 1998, Combilift Ltd.'s product portfolio includes multi-directional side loaders and reach trucks, narrow aisle forklifts, hand-push walk-behind stackers, straddle carriers for the transportation of containers and oversized loads, and container loaders.
After €392 million (2022/23), the company's sales increased by 21% to €475 million.Combilift's sales increased to 9,640 units from 8,170 units last year.Combilift is the global market leader in the field of long goods transportation. In the new financial year, the company aims to increase sales for the first time to more than €500 million.
www.combilift.com
In 2020, it reorganized with seven strategic investors and established a more flexible business model. The product portfolio includes electric forklifts, internal combustion engine forklifts, warehouse vehicles, tractors, AGVs and front cranes.
LiuGong Forklift's sales increased from RMB 3.19 billion to RMB 3.45 billion, while euro sales decreased from €451 million to €450 million due to exchange rate effects. Annual production capacity is said to be 40,000 units.
www.lgforklift.cn
According to its own information, Noblelift is the world's largest manufacturer of hand pallet trucks and a leading manufacturer of industrial trucks in China in all categories except Class 4/5 (internal combustion engine).
In 2023, sales increase from about RMB 2.12 billion (2022) to RMB 2.97 billion, which translates into an increase from €300 million (2022) to €388 million, or about 30 percent in euro terms.
www.noblelift.com
The Manitou Group is one of the global market leaders in all-terrain material handling machinery, with a portfolio that includes internal combustion and electric forklifts, rigid and swivel telescopic reachers, all-terrain forklifts, high and low lift trucks and aerial work platforms. Consolidated sales grew from €2.36 billion to €2.90 billion, with the Industrial Trucks division contributing €244 million with 8,125 units sold.
www.manitou-group.com
Hubtex is a leading international manufacturer of customized industrial trucks. The company develops and manufactures equipment for long, bulky and heavy loads. In addition to new equipment, Hubtex also offers refurbished used trucks.
Hubtex Maschinenbau GmbH & Co. KG increased its net sales of industrial trucks from €95 million (2022) to €104 million in the year under review. The number of units sold in the reporting year was 800 (2022: 850).The Hubtex Group's net sales increased to €147 million from €142 million in the previous year.
www.hubtex.de
Godrej & Boyce is considered the largest industrial truck manufacturer in India and the only Indian company represented in the world rankings. The product range includes electric and diesel forklifts, attachments, warehouse equipment such as reach trucks, as well as high and low pallet trucks, tractors, side loaders and empty container handling, and likewise sells used equipment, as does Hubtex.
Godrej & Boyce Manufacturing achieved year-on-year growth in material handling revenues, with sales increasing from €84 million to €94 million, or 12% in euro terms. 4,969 units were produced.
www.godrej.com
The first lithium-ion models were developed during the year under review. Extended loaders with capacities from 3 to 50 tons were further developed, e.g. with higher decks, larger cabs and greater reach. The Safe Load Assist system, which was completed after seven years of development, was used for the first time in the EGX series with diesel and electric drive and a load capacity of 5 to 8 tons.
Baumann's net sales increased from € 66 million (2022) to € 70.83 million. orders for the 2022/23 season totaled € 60.87 million.
www.baumann-sideloaders.com
Founded in 1981, Paletrans began as a manufacturer of industrial trailers for internal transportation and grew mainly through the production of hand pallet trucks.
Paletrans Equipamentos achieved record sales in its Material Handling Equipment division, amounting to approximately €56 million. The turnover of parent company Grupo Paletrans increased from €77 million to €82 million. In terms of sales volume, the company reports that by 2023 there will be around 43,000 hand pallet trucks and 2,130 electric machines.
www.paletrans.com.br
In total, Flexi Narrow Aisle has delivered more than 13,500 of these trucks to more than 70 countries around the world, with spare parts and service coverage through a global sales network in more than 65 countries, and is the only British company to make the world ranking.
At €33.54m or €38.57m for the year under review, Narrow Aisle manufactures articulated forklift trucks under the Flexi and Artix brands. These are space-saving solutions in warehouses, eliminating the need for counterbalanced or reach trucks. Technically, the forklift trucks feature up to 230° of flex angle and independent digital power steering without backlash.
www.flexi.co.uk
Pramac Industrial's range of forklift trucks includes manual pallet trucks, weigh pallet trucks, manual or electric scissor pallet trucks, electric pallet trucks and walk-behind stackers in manual, electric and semi-automatic versions.
In the year under review, net sales of PR Industrial, which owns the Pramac brand, fell from €441 million (2022) to €350 million. In the Industrial Trucks business area, sales fell from €50 million (2022) to €38 million.
www.pramac.com
Stoecklin's consolidated sales fell from €133 million to €126 million. In the Industrial Trucks segment, rounded sales remained at approximately €30.7 million. While the share of standard industrial trucks declines in 2023, specialized equipment (ATEX, INOX) and automation solutions such as AGVs and AMRs compensate for this.
www.stoecklin.com
Genkinger develops and produces customized industrial trucks for production and transport logistics in almost all industries, as well as state-of-the-art automation solutions.
In 2023, Genkinger's total sales will reach a record €24.68 million, compared to €23 million previously (2022). The industrial conveyor industry contributed €23.4 million, the highest figure in Swabian's more than 100-year history, and overall Genkinger made a net profit of €1.07 million.
www.genkinger.de
Founded in 1993, the family-owned Dimos entered the world ranking for the first time with sales of €16.73 million in 2023. The company specializes in small-volume production, with its core product being electric multi-directional side loaders with lithium-ion technology, and it also produces unmanned transport systems, such as those for coil transportation.
The company sells its products through more than 40 distributors around the world. dimos also has great opportunities for further sales growth in the new financial year: order intake in 2023 is close to 20 million euros.
www.dimos-maschinenbau.de
The subsidiary of Hermann Röhrs GmbH specializes in agricultural machinery, now in its fourth generation, and Magaziner specializes in man-up narrow aisle forklifts with a lifting height of up to 19 meters and vertical pickers with a stand height of more than 15 meters.
Magaziner Lager- und Fördertechnik GmbH reports sales of €16 million for the reporting year 2023, up from €14 million in 2022, an increase of about 14 percent.
www.magaziner.de
