Global and China Forklift Industry Report, 2018-2023 December 2018 STUDY GOAL AND OBJECTIVES METHODOLOGY This report provides the industry executives with strategically signifisignificantcant Both primary and secondary research methodologies were used competitor information, analysis, insight and projection on the in preparing this study. Initially, a comprehensive and exhaustive competitive pattern and key companies in the industry, crucial to the search of the literature on this industry was conducted. These development and implementation of effective business, marketing and sources included related books and journals, trade literature, R&D programs. marketing literature, other product/promotional literature, annual reports, security analyst reports, and other publications. REPORT OBJECTIVES Subsequently, telephone interviews or email correspondence TtblihTo establish a compre hiftlhensive, factual, annua lldtddtlly updated and cost- was conducted with marketing executives etc. Other sources effective information base on market size, competition patterns, included related magazines, academics, and consulting market segments, goals and strategies of the leading players in the companies. market, reviews and forecasts. To assist potential market entrants in evaluating prospective INFORMATION SOURCES acquisition and joint venture candidates. The primary information sources include Company Reports, To complement the organizations’ internal competitor information and National Bureau of Statistics of China etc. gathering efforts with strategic analysis, data interpretation and insight. To suggest for concerned investors in line with the current development of this industry as well as the development tendency . To help company to succeed in a competitive market, and Copyright 2012 ResearchInChina understand the size and growth rate of any opportunity. Room 801, B1, Changyuan Tiandi Building, No. 18, Suzhou Street, Haidian District, Beijing, China 100080 Phone: +86 10 82600828 ● Fax: +86 10 82601570 ● www.researchinchina.com ● [email protected] Abstract In 2017, global forklift sales reached a record high of 1.334 million units with a year-on-year increase of 15.7%; wherein, China's sales rose 34.2% year on year to 497,000 units, still ranking first worldwide. In 2018, the Chinese market maintained rapid growth, with the fork sales outnumbering 500,000 units in the first ten months of 2018 and expectedly approaching 600,000 units throughout the year. In the future, the Chinese forklift market will still have huge growth potentials and forkliforkliftft sales in 2023 will double that in 2018. Electric forklifts, particularly electric warehouse forklifts, saw the highest growth rates in 2017 and 2018, namely 48.4% and 49.8% respectively (Jan-Oct). This is largely due to intensive introduction of environmental protection policies, increased fuel costs, and robust demand for warehousing logistics. Moreover, the demand picks up in the new energy forklift market to which more and more entrants have accessed. BYD lithium batteryypy,; forklifts have been promoted by annual sales of 10,000 units; Anhui HeLi, Hangcha Group, EP Eq uip ment, Noblelift,,g Ningbo Ruyi and Tailift have without exception produced their own lithium battery forklifts. A total of 8,681 lithium battery forklifts were sold in China in 2017, according to China Forklift Association. Although with a small share in electric forklifts, lithium battery forklifts are growing rapidly with its sales volume in 2018 expected to double that in 2017. As logistics go automated and intelligent, AGV sales have soared. Major forklift producers like Hangcha Group, LiuGong and Linde have rolled out forklift AGV to seize the market. The burgeoning market in China has prompted many overseas companies to speedily get their business optimized and integrated for competitive edges. In January 2018, KION Group entered into a strategic partnership with Zhejiang EP Equipment; the partnership will focus on joint product development and supply chain synergies and is expected to make both parties more competitive in terms of their product offerings. In June 2018, Hyster-Yale Materials Handling completed its acquisition of 75% shares in Zhejiang Maximal Forklift. In July 2018, the subsidiaries of Mitsubishi Logisnext -- MF (Shanghai) Co., Ltd. and Shanghai Nichiyu Forklift Manufacturing Co., Ltd. were integrated into Mitsubishi Logisnext Forklift (Shanghai) Co., Ltd., which will be responsible for marketing and services of all forklift brands of Mitsubishi Logisnext in China with a sales target of more than 10,000 units in 2020. In addition, Hyundai announced its return to the Chinese market in Hangzhou, Zhejiang Province in June 2018 after exiting the market in 2016, and launched a number of new products. Meanwhile, two Chinese forklift giants integrate resources to be more competitive in key components. In February 2018, Hangcha Group invested in Zhengzhou Jiachen Instrument Co., Ltd.; in the same month, ZF set up a joint venture named ZF-HELI Drivetech (Hefei) Co., Ltd. with Anhui Heli. Copyright 2012ResearchInChina Room 801, B1, Changyuan Tiandi Building, No. 18, Suzhou Street, Haidian District, Beijing, China 100080 Phone: +86 10 82600828 ● Fax: +86 10 82601570 ● www.researchinchina.com ● [email protected] The report highlights the followings: Status qqguo of the global forklift market, the develo pment of forklift markets in USA and Ja pan, and the list of the gpglobal top 20 forklift manufacturers; Size, structure, import & export, corporate competition and development trends of Chinese forklift market; Status quo, key enterprises and development trends of Chinese forklift market segments - electric forklifts, internal combustion forklifts, new energy forklifts, alternative fuel forklifts, AGV forklifts, etc.; Status quo and trends of Chinese forklift aftermarket (forklift rental, used forklift and forklift parts); Operation and forklift business of 9 global and 31 Chinese forklift manufacturers. Copyright 2012ResearchInChina Room 801, B1, Changyuan Tiandi Building, No. 18, Suzhou Street, Haidian District, Beijing, China 100080 Phone: +86 10 82600828 ● Fax: +86 10 82601570 ● www.researchinchina.com ● [email protected] Table of contents 4 Chinese Forklift Market Segments 1 Overview of Forklift 4.1 Internal Combustion Forklift 1.1 Definition 411Stt4.1.1 Status Quo 1.2 Classification 4.1.2 Key Manufacturers 1.3 Composition 4.2 Electric Forklift 1.4 Upstream and Downstream 4.2.1 Status Quo 4.2.2 Main Products 2 Global Forklift Industry 4.2.3 Key Manufacturers 2.1 Status Quo 4.3 New Energy Forklift 2.1.1 Orders 4.3.1 Overview 2.1.2 Sales Volume 4.3.2 Lithium-battery Forklift 2.2 Major Countries/Region 4. 4 Alternative Fuel Forklift 221N2.2.1 Nor thAth Amer ica 4.5 AGV Forklift 2.2.2 Japan 2.3 Major Global Forklift Companies 5 Chinese Forklift Aftermarket 5.1 Status Quo 3 Chinese Forklift Market 5. 2 For klift Ren ta l 3.1 Overview 5.3 Used Forklift 3.2 Market Size 5.4 Forklift Parts 3.2.1 Sales Volume 3.2.2 Distribution 6 Major Global Forklift Companies 3. 3 Import & Export 6.1 Toyota Industries Corp 3.4 Product Competition 6.1.1 Profile 3.5 Enterprise Competition 6.1.2 Operation 3.5.1 Industry Concentration 6.1.3 Revenue Structure 3.5.2 Competitive Landscape 6.1.4 Forklift Business 36D3.6 Deve lopmen tTt Tren d 6.1.5 Forklift Business in China 6.1.6 Forklift Business Planning Room 801, B1, Changyuan Tiandi Building, No. 18, Suzhou Street, Haidian District, Beijing, China 100080 Phone: +86 10 82600828 ● Fax: +86 10 82601570 ● www.researchinchina.com ● [email protected] Table of contents 6.2 Kion Group 6.7 Komatsu Ltd. 6.2.1 Profile 6.7.1 Profile 622O6.2.2 Opera tion 672O6.7.2 Opera tion 6.2.3 Revenue Structure 6.7.3 Revenue Structure 6.2.4 Forklift Business 6.7.4 Forklift Business 6.2.5 Forklift Business in China 6.8 CLARK Material Handling International 6.3 Jungheinrich Group 6.8.1 Profile 6.3.1 Profile 6.8.2 Operation 6.3.2 Operation 6.8.3 Forklift Business 6.3.3 Revenue Structure 6.8.4 Forklift Business in China 6.3.4 Forklift Business 6.9 Doosan Industrial Vehicle 6. 3. 5 Forklift Business in China 691Profile6.9.1 Profile 6.4 Crown Equipment Corp. 6.9.2 Operation 6.4.1 Profile 6.9.3 Forklift Business in China 6.4.2 Operation 6.4.3 Forklift Business in China 7 Major Forklift Companies in China 65Mit6.5 Mitsu bihibishi LiLogisnex tCLtdCo., Ltd. 71A7.1 An hu i HLiHeLi CLtdCo., Ltd 6.5.1 Profile 7.1.1 Profile 6.5.2 Operation 7.1.2 Operation 6.5.3 Revenue Structure 7.1.3 Revenue Structure 6.5.4 Forklift Business 7.1.4 Gross Margin 6.5.5 Forklift Business in China 7.1.5 R&D 6.6 Hyster-Yale Materials Handling, Inc. 7.1.6 Output & Sales 6.6.1 Profile 7.1.7 Development Strategy 6.6.2 Operation 7.2 Hangcha Group Co.,Ltd 6.6.3 Revenue Structure 7.2.1 Profile 6.6.4 Forklift Business 7.2.2 Operation 6.6.5 Forklift Business in China 7.2.3 Revenue Structure Room 801, B1, Changyuan Tiandi Building, No. 18, Suzhou Street, Haidian District, Beijing, China 100080 Phone: +86 10 82600828 ● Fax: +86 10 82601570 ● www.researchinchina.com ● [email protected] Table of contents 7.2.4 Gross Margin 7.7.1 Profile 7.2.5 R&D 7.7.2 Operation 726K7.2.6 Key Pro jec ts 7.7.3 Revenue Structure 7.2.7 Output & Sales 7.7.4 Forklift Business 7.2.8 Development Strategy 7.8 Tailift Machinery & Equipment (Qingdao) Co., Ltd. 7.3 Anhui VMAX Heavy Industry Co., Ltd. 7.8.1 Profile 7.3.1 Profile 7. 8. 2 Forklift Business 7.3.2 Operation 7.8.3 R&D 7.3.3 Revenue Structure 7.9 Hyster-Yale Maximal Forklift (Zhejiang) Co., Ltd 7.3.4 Gross Margin 7.9.1 Profile 7.3.5 Major Customers 7.9.2 Operation 7.