Who is the largest manufacturer of forklifts?

Ever wondered which company leads the global forklift market and keeps customers happy? The fight among top forklift brands is intense. Many well-known names are competing to be the biggest forklift maker.

Today’s big players, like Toyota Industries Corp., KION Group, and Jungheinrich Group, all have strong claims. But is there one brand that stands out as the best? Let’s look at the numbers and find out who’s leading the way. We’ll see which brands are making a splash and what makes them special in this competitive field.

Key Takeaways

• Toyota Industries Corp. topped revenue charts in 2021 with $15.54 billion USD.
• Established brands such as Crown Equipment Corporation and Mitsubishi Logisnext Co. Ltd. also feature prominently.
• Many top forklift brands demonstrate a direct correlation between their revenue and market satisfaction.
• Alternative drive technologies and sustainability efforts are key differentiators among leading manufacturers.

Overview of Major Forklift Manufacturers

The forklift industry is led by many giants known for innovation and quality. Toyota is the largest, having made over 700,000 forklifts since 1955. Clark Material Handling invented the first hydraulic forklift truck in 1920.

Hoist makes 100% American forklifts, with capacities from 7 to 57 tons. Caterpillar’s forklift division in Houston, Texas, is a big player in the U.S. Crown Equipment Corporation is the 5th largest, making 85% of its components in-house.

Vallée is a top forklift maker in Canada, known for its 4×4 forklifts. Nissan Forklift produced over 600,000 forklifts from 1957 to 2007. The Raymond Corporation offers 11 categories of electric lift trucks under Toyota Industries Corp. since 2000.

Flexi makes electric forklifts for very narrow aisles, with six models. Liftking specializes in lift trucks for rugged terrains.

Combilift is the world’s largest manufacturer of multidirectional forklifts. Kalmar, a Cargotec subsidiary, offers heavy-duty forklift solutions. Moffett introduced the first truck-mounted forklift in 1986, focusing on all-wheel drive models.

Jungheinrich has a product line over 600 forklifts, with a strong dealer network in North America. Svetruck is known for heavy-lift forklifts, especially for log handling. Balkancar has produced over 1.5 million forklifts since 1952.

Companies like EP Equipment, Doosan Bobcat, and Hyundai Material Handling are growing their market share. They reflect the demand and revenue growth in the industry. These companies highlight the diversity and importance of forklifts in global supply chains and industrial efficiency.

Who is the largest manufacturer of forklifts?

Toyota Industries Corporation (TICO) is the clear leader in forklift manufacturing. In fiscal 2022, they made $16.85 billion, a 6% jump from the year before. This shows their strong hold in the market.

• Mitsubishi Logisnext: $4.63 billion revenue with 112,000 units sold in 2022.
• Hyster-Yale: $3.54 billion revenue with approximately 100,800 units sold.
• Anhui Forklift Truck Group: $2.25 billion revenue with 260,846 units sold.
• Hangcha Group: $2.06 billion revenue.
• Doosan Bobcat: $1.68 billion revenue.
• Clark Material Handling: $908 million revenue.

This data shows the fierce competition among forklift makers. Yet, Toyota Industries Corporation (TICO) is clearly the top in the world.

The Rising Stars in the Forklift Industry

In the forklift world, new brands and companies are making big moves.

Crown also has a high ranking in Days Receivables and Annual Turnover. This shows it’s doing well in the market.

Crown Equipment is not just competing with big names like Kion Group AG and Hyster-Yale Materials Handling, Inc. It also makes forklifts and conveyor systems. This lets Crown reach different customers and adapt to various markets.

Other companies like Toyota Material Handling USA Inc. and Cargotec Corp Oyj are also changing the forklift industry. They use a detailed method to analyze the market size. This shows how thorough the analysis is.

Electric forklifts are getting a lot of attention. There are different batteries like lithium-ion and lead-acid. The industry is moving towards being more green and advanced.

Conclusion

The forklift industry is always changing and very competitive. It has many top producers who are leaders in making and improving forklifts. Toyota is a standout, known for making fuel-efficient and safe forklifts. They have been the biggest for over 10 years, with $19.98 billion in sales in 2020.

Caterpillar makes forklifts for both tough outdoor and indoor jobs. Linde Material Handling is famous for its fuel-saving hydrostatic drive systems. Komatsu offers a wide range of forklifts, from electric to diesel, for all kinds of lifting.

Mitsubishi Forklift Trucks is known for its strong forklifts at good prices. Their electric models are easy to use and need little upkeep. Brands like Jungheinrich, Clark, and Hyster also play big roles in the industry.

Jungheinrich is great for electric forklifts that are good for the environment and charge fast. Clark has been making reliable forklifts for 100 years. Hyster focuses on safety with features like automatic load sensing and protection systems.

In summary, these top forklift makers keep improving and meeting customer needs. They focus on making forklifts efficient, safe, and durable. These companies are shaping the future of the industry with their dedication to quality.