Second Quarter 2017 – Forklift Industry Report

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Forklift Industry Overview

The global industrial truck market was up 17.4% overall in the second quarter of 2017 versus the same period of 2016.  A large portion of the global growth of incoming orders came from the Asia-Pacific market with an increase of 25.8% in the second quarter, The North America industrial truck market grew 8.1% to 67,500 units.

Internal combustion engine trucks saw the biggest volume increase for the first half of 2017, whose orders grew by 20.8%.  Electric forklift truck orders increased by 15%.

Jungheinrich expects the global economy to show solid growth in 2017 and for the US to be a growth driver for the industrial truck market.

KION Group – Linde, Baoli, and Still Forklifts

KION had a strong second quarter compared to last year with a 50% increase revenue.  Net income also had a big jump of 69% over the same period last year. And order intake was up 41.4%, and 11.1% of that was from organic growth in their Industrial Trucks & Services segment. KION’s Linde group has been working with French robotics company Balyo since 2015 to develop automated warehouse trucks and now all of Linde’s warehouse trucks are available in automated variants – this is most likely for their European machines.  Linde is also continuing to expand its offering and support of lithium-ion powered lift trucks.

Hyster-Yale:

Hyster-Yale’s lift truck segment revenue increased by 6.25% to $647.7 million and net income rose 82% to $23.8 million for the second quarter. Worldwide new unit shipments were 22,200 units in the second quarter of 2017 versus 21,100 units for the same period last year.  And lift truck unit bookings were 25,300 for the quarter compared to 21,700 units booked in the second quarter of 2016.  Hyster-Yale’s overall lift truck shipments for the first six months of this year increased 9.4%. Growth in the Americas market (includes North America, Latin America, and Brazil) was stronger than expected driven primarily by improvements in Brazil’s market. Hyster-Yale expects the lift truck market to maintain strength through the year.

Jungheinrich

Jungheinrich had a solid quarter with unit production rising 3.6% versus the second quarter last year, revenue going up by 10.3% and net income increasing by 4.3%.  When looking at the first half of the year, Jungheinrich’s unit production is up even more at 12% growth. Jungheinrich is expecting strong growth in the global material handling equipment market and is even more optimistic than in the first quarter.  In North America specifically, Jungheinrich expects good demand for battery-powered counterbalanced trucks to continue.