![]() The annual lift truck survey is based on revenue figures obtained from a questionnaire. Since our list is global in nature, some suppliers in China or other parts of Asia may have benefits from an early curve to the pandemic in their key markets, with an earlier lifting of pandemic closures or restrictions, and a return to more robust sales of lift trucks to support materials handling requirements in a resurgent economy. Many of the Top 20 saw a modest decline in sales from the previous year, while others actually enjoyed an increase. Generally speaking, Class 2 and Class 3 trucks are heavily used in consumer goods and food and beverage industries, which even during the pandemic remained busy keeping goods flowing to consumers.Īmong the suppliers in this year’s Top 20 list, there were varying results. ![]() While Class 5 trucks saw a significant drop of 19.7%, Class 2 and Class 3 trucks saw a small increase from 2019 at 2% and 1.1% respectively. Not all classes of trucks saw a decline in ITA’s figures. “Our industry performed well throughout the pandemic thanks to the essential nature of our products and the dedicated associates in our industry.” “The industrial truck industry had its third best year on record in 2019, and the sales decrease in 2020 with Covid-19 was not unexpected,” Jay Gusler, chairman of the board of directors for ITA and executive vice president of operations for Mitsubishi Logisnext Americas Group, said at the time of the ITA announcement. The market decline can be partially attributed to the impact of Covid-19, ITA leadership stated. According to ITA, 2020 forklift truck sales in North America were down by 5.1% compared to 2019. This slight decline in revenue for our Top 20 Lift Truck Suppliers list is consistent with North American data on lift truck industry sales tracked by the Industrial Truck Association (ITA). This likely speaks to the fact that even with all the pandemic impacts, industries such as food and beverage, as well as e-commerce fulfillment warehouses, were busy getting goods out to consumers, which brings with it the need for lift trucks, especially electric trucks commonly used indoors. And, if we compare the 2019 total for the slightly different makeup of last year’s Top 20, the drop is 1.6%, down from $43.61 billion.Įither way, a less than 2% drop-off isn’t that bad, considering the magnitude of the global pandemic. When looked at cumulatively for all 20 suppliers on the list, total revenue came in at $42.89 billion, down 1.3% from the suppliers’ 2019 total of $43.47 billion. During the depths of the past pandemic year, when many regions were experiencing disruptions or even production shutdowns due to the Covid-19 pandemic, acquiring more equipment to run operations was not exactly a high priority, if even feasible.Īs a result, it’s not too much of a surprise that our annual Top 20 Lift Truck Suppliers list saw a slight drop in total revenues among the companies who made the list. Start yours now.įor all the technology offered by today’s lift truck suppliers, the core products themselves are physical pieces of hardware essential for moving goods and materials in warehouses and other facilities. PLUS+ subscriptions start as low as $129/year*. Every article, every chart and every table as it appeared in the magazine for all archive issues back to 2010. To upgrade your subscription account, please contact customer service at:Įmail: Phone: 1-80 (1-50 x294 outside USA) To access our premium content, you need to upgrade your subscription to our PLUS+ status. Our records show that you are currently receiving a free subscription to Supply Chain Management Review magazine, or your subscription has expired. Need to access our premium PLUS+ Content? * Prices higher for subscriptions outside the USA. That's less than $0.36 per day for access to information that you can use year-round to better manage your entire global supply chain.įor assistance with your PLUS+ subscription, contact customer service. PLUS+ subscriptions start as low as $109/year*. Add convenient weekly and monthly email newsletters to your subscription to keep your finger on the pulse of the industry. ![]() Every article, every chart and every table as it appeared in the magazine for all archive issues back to 2009. Delivered by email faster than printed issues. Searchable replicas of each magazine issue. 7 Magazine Issues per year of Supply Chain Management Review magazine.All feature articles, bonus reports and industry research through. Subscribe Now.īecome a PLUS+ subscriber and you'll get access to all Supply Chain Management Review premium content including: Premium access to exclusive online content, companion digital editions, magazine issues and email newsletters.
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