Forklift & Conveyor Manufacturing in the US - Industry Market Research Report

Forklift & Conveyor Manufacturing in the US - Industry Market Research Report

Forklift & Conveyor Manufacturing in the US

The Forklift and Conveyor Manufacturing industry has experienced moderately volatile revenue growth over the five years to 2019. Various downstream markets drive demand for this industry's diverse set of product lines. Heavy infrastructure construction and inventory management largely drive the need for forklifts, while freight and manufacturing industries make up most of the demand for conveyor systems. Strong construction figures have boosted revenue sporadically during the current period; however, revenue growth is expected to be sluggish overall. The ebb and flow of construction markets added to volatility during the current period, but the main culprit has been low commodity prices. The volatility of oil and steel prices in recent years has weighed on demand from industrial markets, which purchase a range of industry goods. Nevertheless, industry revenue has increased over the past five years. Over the five years to 2024, industry revenue is forecast to continue to rise. Industry performance will likely strengthen as key domestic and foreign downstream markets grow in line with improving macroeconomic factors.

Operators in this industry manufacture equipment used to lift or move materials. Major products and services include forklifts, conveyor equipment manufacturing, cranes, hoist systems, industrial trucks, stacker machinery and all related parts and upkeep of products. This industry excludes operators that manufacture construction-type tractors and cranes, as these companies are included in the Construction Machinery Manufacturing industry (IBISWorld report 33312).

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.