Prime 20 elevate truck suppliers 2021

For all of the know-how provided by at the moment’s elevate truck suppliers, the core merchandise themselves are bodily items of {hardware} important for transferring items and supplies in warehouses and different amenities. Throughout the depths of the previous pandemic 12 months, when many areas have been experiencing disruptions and even manufacturing shutdowns because of the Covid-19 pandemic, buying extra tools to run operations was not precisely a excessive precedence, if even possible.

In consequence, it’s not an excessive amount of of a shock that our annual Prime 20 Carry Truck Suppliers checklist noticed a slight drop in complete revenues among the many firms who made the checklist. When checked out cumulatively for all 20 suppliers on the checklist, complete income got here in at $42.89 billion, down 1.3% from the suppliers’ 2019 complete of $43.47 billion. And, if we examine the 2019 complete for the marginally completely different make-up of final 12 months’s Prime 20, the drop is 1.6%, down from $43.61 billion.

Both manner, a lower than 2% drop-off isn’t that unhealthy, contemplating the magnitude of the worldwide pandemic. This possible speaks to the truth that even with all of the pandemic impacts, industries equivalent to meals and beverage, in addition to e-commerce success warehouses, have been busy getting items out to customers, which brings with it the necessity for elevate vans, particularly electrical vans generally used indoors.

This slight decline in income for our Prime 20 Carry Truck Suppliers checklist is in line with North American knowledge on elevate truck trade gross sales tracked by the Industrial Truck Affiliation (ITA). Based on ITA, 2020 forklift truck gross sales in North America have been down by 5.1% in comparison with 2019. The market decline will be partially attributed to the impression of Covid-19, ITA management said.

“The economic truck trade had its third greatest 12 months on report in 2019, and the gross sales lower in 2020 with Covid-19 was not sudden,” Jay Gusler, chairman of the board of administrators for ITA and government vice chairman of operations for Mitsubishi Logisnext Americas Group, mentioned on the time of the ITA announcement. “Our trade carried out properly all through the pandemic due to the important nature of our merchandise and the devoted associates in our trade.”

Not all courses of vans noticed a decline in ITA’s figures. Whereas Class 5 vans noticed a major drop of 19.7%, Class 2 and Class 3 vans noticed a small improve from 2019 at 2% and 1.1% respectively. Typically talking, Class 2 and Class 3 vans are closely utilized in shopper items and meals and beverage industries, which even throughout the pandemic remained busy protecting items flowing to customers.

Among the many suppliers on this 12 months’s Prime 20 checklist, there have been various outcomes. Lots of the Prime 20 noticed a modest decline in gross sales from the earlier 12 months, whereas others truly loved a rise. Since our checklist is international in nature, some suppliers in China or different elements of Asia could have advantages from an early curve to the pandemic of their key markets, with an earlier lifting of pandemic closures or restrictions, and a return to extra strong gross sales of elevate vans to assist supplies dealing with necessities in a resurgent financial system.

The annual elevate truck survey is predicated on income figures obtained from a questionnaire. As in earlier years, it asks for the earlier 12 months’s calendar or final full fiscal 12 months revenues associated to the sale of elevate vans (see field on the finish of the article for extra on our standards).

Whereas not a complete examine of elevate truck market progress, it does point out that most of the main suppliers weathered the pandemic fairly properly, superior their applied sciences, and are poised for resumed sturdy progress for the rest of 2021.

The Prime 10

Toyota Industries Company (TICO) once more held the No. 1 spot on our checklist. The corporate, which incorporates the Toyota and Raymond manufacturers, noticed its income lower from $13.35 billion for 2019, to $12.67 billion for 2020, a few 5% decline. The corporate bought 265,501 items throughout all elevate truck courses in 2020.

Early in 2020, Toyota accomplished its North American enterprise unit integration course of, which culminated in a single enterprise unit, Toyota Materials Dealing with Inc. (TMH). Among the new merchandise from TMH included electrical vans that includes Toyota-designed AC motors, in addition to two new automated merchandise, a Heart-Managed Rider Automated Forklift and the Core Tow Tractor Automated Forklift.

At No. 2, KION’s 2020 worldwide income got here in at $6.92 billion, down from the 2019 income we listed for them at $7.17 billion. KION reported it bought 198,300 items of all courses worldwide. On the corporate management entrance, KION appointed key vice presidents in mid-2020. Brandon Flexsenhar took over as vice chairman of operations in July 2020, succeeding Daniel Schlegel, who was appointed vice chairman of customer support. David LaDue took over as vice chairman of gross sales and deaITA’s elevate truck courses

In third place, Jungheinrich AG reported income for 2020 of $4.55 billion, down barely from $4.57 billion we listed for them final 12 months. The corporate reported its incoming orders for 2020 got here to 111,400 items.

Figures primarily based on foreign money change charges as of 12/31/20.
* 2020 revenues weren’t out there by press time.
Supply: Trendy Supplies Dealing with

Mitsubishi Logisnext retained fourth place on our checklist, with 2020 income of $3.78 billion, down from their income determine for the earlier 12 months of $4.15 billion. The corporate bought 85,000 items final 12 months, it reported.

Final 12 months was a 12 months of organizational change for Mitsubishi Logisnext. In October 2020, Mitsubishi Logisnext Americas, the guardian firm for Mitsubishi Caterpillar Forklift America Inc. (MCFA) and UniCarriers Americas Company (UniCarriers), introduced it was integrating these group firm operations inside the Americas, going ahead as Mitsubishi Logisnext Americas group. On the time, Ken Barina, president of Mitsubishi Logisnext Americas, mentioned the mixing permits for a stronger, extra environment friendly group to assist prospects and sellers.

Crown Gear stays in fifth place after reporting $3.62 billion in worldwide gross sales for its fiscal 2020, down from $3.72 billion the earlier 12 months, which represents a 2.7% lower. On the product entrance, key bulletins from the corporate included the Crown MPC Sequence with QuickPick Distant, a semi-automated function aimed toward growing productiveness in low-level order selecting, and a brand new tow tractor, which is able to switching between guide and automatic operation. The corporate additionally expanded its “V-Power” battery line and launched a brand new on-line retailer.

Hyster Yale held on to sixth place with $2.81 billion in income, down from $3.29 billion for 2019. The corporate bought roughly 85,500 items in 2020, down from 100,300 items in 2019.

Hyster Yale’s product strategy includes modular and scalable product households protecting each inside combustion and electrical vans. To call a couple of, in 2020, the corporate launched a brand new 7-ton to 9-ton, lithium-ion battery electrical counterbalanced truck. This truck enhances the lower-capacity 2-ton to three.5-ton lithium-ion model, additionally launched in 2020. The corporate additionally launched a brand new attain truck for the Americas market in 2020.

In seventh place, Anhui Heli Co.’s revenues elevated from $1.43 billion in 2019, to the $1.93 billion for 2020 income, representing a 34% improve. The corporate bought 220,678 items worldwide in 2020.

Eighth-place Hangcha’s revenues weren’t out there as of press time, so we’re inserting them regular on the determine supplied final 12 months, $1.26 billion. We utilized this identical coverage to 5 different distributors on the checklist.

Coming in at ninth is Manitou, which reported 2020 income of (transformed from Euros) of $1.25 billion for its Materials Dealing with & Entry (MHA) division, which makes forklifts, in addition to a variety of different materials dealing with tools equivalent to aerial work platforms and manufacturing telehandlers. Final 12 months, the corporate’s checklist inserting was primarily based on a earlier 12 months response, whereas this 12 months, it’s primarily based on the MHA divison’s complete for 2020, transformed to {dollars}.

Doosan secures the tenth spot this 12 months, with 2020 income of $981.2 million, down from $1.16 billion in 2019.

Some up; extra down

The remainder of the Prime 20 additionally skilled some declines, with others holding regular. Moreover, one new entrant was among the many second half of this 12 months’s checklist.

Clark Materials Dealing with reported 2020 income of $705 million, down from $783 million for 2019, making it eleventh on our checklist. In March of 2021, Clark launched the WPL40 Electrical Pallet Jack, which encompasses a lithium-ion battery. In August of 2020, the corporate partnered with Flux Energy to offer its seller and end-users with lithium-ion energy choices. Presently, greater than 250,000 Clark elevate vans are working in North America and 350,000 items working worldwide, in response to the corporate.

On the No. 12 spot is Komatsu, which generated $605 million in 2020 income, down from $642 million in 2019. On the product entrance, the corporate launched a big, inside combustion, hydrostatic elevate truck (22,000 to 35,000 pound elevate capability) for the U.S. market, and a straightforward upkeep battery electrical elevate truck (5,000 to six,000 pound capability), for the Japanese market. This 12 months additionally marks the one centesimal anniversary for the corporate.

Hyundai, which incorporates Hyundai Materials Dealing with, didn’t reply by press time, so we held it regular at $406 million in elevate truck associated income, which put it into thirteenth on our checklist. In April of 2021, the corporate appointed Lewis Byers as vice chairman and COO of Hyundai Materials Dealing with Forklift Division.

Additionally regular on income since their quantity was not out there, is Longking Forklift Co., at $343 million in income. That places them into 14th on our checklist this 12 months.

In our fifteenth spot is Combilift, which had a progress 12 months, reporting income of $366 million, up from $335 for 2019 income, which represents 9.3% progress. The corporate, which has U.S. headquarters in Greensboro, N.C., mentioned its progress has been propelled by the character of its vans and their means to assist speedy success in slim aisle environments. In 2021, the corporate launched its Aisle Grasp OP truck, which might do both bulk dealing with of pallets, or order selecting, with the identical unit, in slim aisles. The corporate bought 6,477 items in 2020, versus 6,400 in 2019.

At No. 16 is EP Gear, which provides the Large Joe model of forklifts. The corporate confirmed wholesome progress, reporting $359 million in 2020 gross sales, up from $310 million for 2019, a 16% improve. The corporate reviews it bought 130,000 items in 2020.

The brand new entrant to our Prime 20 at No. 17 is Noblelift, whose North American group is predicated close to Chicago. It reported 2020 income of $150 million, up from $136.4 million in 2019, which represents 10% progress.

Slotting in at No. 18 on our checklist is Luigong, with income of $94 million. Its product line contains electrical forklifts, inside combustion forklifts, tow tractors and automated guided automobiles.

At No. 19 is Hubtex, whose income itemizing stays unchanged at $72 million.

Rounding issues out at No. 20 is Godrej & Boyce Mfg. Co., reporting 2020 income of $60.6 million, down from $77.3 million in 2019. The corporate mentioned it bought 2,469 powered industrial truck items in 2020.

With the pandemic showing to be subsiding, the elevate truck market stands to learn from resurgent economies and the steadily growing want to maneuver extra items within the coming years. Most trade analyst companies venture first rate, single-digit progress the elevate truck market via the mid-2020s, with estimates starting from 3% to the 7% when it comes to compound annual progress fee over the subsequent few years.

The suppliers on our checklist stand to learn from a resumption of progress at this tempo, even because the bigger suppliers develop on the applied sciences they provide, together with absolutely autonomous elevate vans. More and more, among the prime suppliers within the elevate truck market are not simply “{hardware}” distributors, they’re additionally suppliers of know-how options that assist enhance success operations and supplies dealing with processes.