Latest Report Update: Apr 13, 2021

U.S. - Fork-Lift Trucks And Other Works Trucks, Tractors Of The Type Used On Railway Station Platforms - Market Analysis, Forecast, Size, Trends and Insights
Update: COVID-19 Impact

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Article Publishing Date: Apr 2, 2021

Buoyant Warehouse Growth Benefits the U.S. Forklift Truck Market

IndexBox has just published a new report: 'U.S. - Fork-Lift Trucks And Other Works Trucks, Tractors Of The Type Used On Railway Station Platforms - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.

The e-commerce boom seen in the second half of 2020 led to an increased demand for both warehouse space and the forklift trucks required to service and maintain these facilities. The increasing use of lithium-ion battery-operated forklift devices is also in pace with the Paris Agreement regarding energy efficiency and the reduction of pollution.

Key Trends and Insights

Rapid e-commerce growth led to a sharp surge in the demand for warehouse space and the hardware designed to maintain it, incl. forklift trucks. According to the March CBRE report, in North America, the warehouse construction completions increased from 159 million sq. ft in 2019 to 185 million sq. ft in 2020 and the direct vacancy rate dropped from 5.2% in 2019 to 4.6% in 2020. The demand for warehouse facilities near a marine port remains especially high.

The current shortage of vacant warehouse space is forecast to continue through 2021; this will determine the demand for forklift trucks in the medium term. The U.S. construction sector is set to expand further through the single-family segment, thereby driving the logistics of building materials. Consumer behaviour is expected to remain largely in e-commerce and the remote working trend is set to continue as the country emerges from the pandemic. 

The pandemic forced forklift truck manufacturers to seriously consider the safety measures required during forklift truck operation. Attention became focused not only on employee hygiene (washing hands and maintaining a safe distance) but also on general health and safety regulations in the workplace, to reduce the number of accidents and medical visits and call-outs. The wireless monitoring of forklift truck operations is now more widespread, allowing for vehicle usage and performance to be tracked, the planning of efficient service intervals and the distribution of vehicle load. 

The forklift truck market is developing in line with the Paris Agreement's commitment to reduce harmful waste and emissions and increase energy efficiency: lithium-battery-operated vehicles are now increasingly common. Lithium-ion batteries are more environmentally friendly and energy-efficient than the conventional acid alternative.

Canada, Mexico and Australia Remain Key Export Countries for the U.S. 

In 2019, the amount of fork-lift trucks and other works trucks, tractors of the type used on railway station platforms exported from the U.S. declined rapidly to 88K units, which is down by -30.9% compared with 2018. Overall, exports continue to indicate a abrupt slump. The pace of growth appeared the most rapid in 2014 when exports increased by 99% against the previous year. As a result, exports reached the peak of 279K units. From 2015 to 2019, the growth exports remained at a lower figure.

In value terms, forklift truck exports totaled $2B (IndexBox estimates) in 2019. Over the period under review, exports saw a noticeable curtailment. The most prominent rate of growth was recorded in 2016 with an increase of 21% year-to-year. Exports peaked at $2.8B in 2013; however, from 2014 to 2019, exports stood at a somewhat lower figure.

Canada (28K units), Mexico (14K units) and Australia (7.5K units) were the main destinations of forklift truck exports from the U.S., together accounting for 56% of total exports. These countries were followed by the UK, the Netherlands, Belgium, Brazil, South Korea and Chile, which together accounted for a further 22%.

From 2012 to 2019, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belgium, while exports for the other leaders experienced more modest paces of growth.

In value terms, Canada ($739M) remains the key foreign market for forklift truck exports from the U.S., comprising 38% of total exports. The second position in the ranking was occupied by Mexico ($324M), with a 16% share of total exports. It was followed by Belgium, with a 7% share.

Source: IndexBox AI Platform

Product coverage:
• Prodcom 28221513 - Self-propelled fork-lift trucks powered by an electric motor, w ith a lifting height . 1 m
• Prodcom 28221515 - Self-propelled fork-lift trucks powered by an electric motor, w ith a lifting height < 1 m
• Prodcom 28221530 - Self-propelled trucks fitted with lifting or handling equipment, n on-powered by an electric motor
• Prodcom 28221550 - Fork-lift trucks and other works trucks fitted with lifting or handling equipment (excluding self-propelled trucks)
• Prodcom 28221570 - Works trucks, self-propelled, not fitted with lifting or handling equipment, of the type used in factories, warehouses, dock areas or airports for short distance transport of goods, t ractors of the type used on railway station platforms

This report provides an in-depth analysis of the forklift truck market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.


Country coverage:
• USA

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in the U.S.
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2007–2019
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2007–2019
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2019
Table 2:
Market Volume, In Physical Terms, 2007–2019
Table 3:
Market Value, 2007–2019
Table 4:
Per Capita Consumption In 2007-2019
Table 5:
Imports, In Physical Terms, By Country, 2007–2019
Table 6:
Imports, In Value Terms, By Country, 2007–2019
Table 7:
Import Prices, By Country Of Origin, 2007–2019
Table 8:
Exports, In Physical Terms, By Country, 2007–2019
Table 9:
Exports, In Value Terms, By Country, 2007–2019
Table 10:
Export Prices, By Country Of Destination, 2007–2019
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2019
Figure 2:
Market Value, 2007–2019
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007-2019
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007-2019
Figure 5:
Trade Balance, In Physical Terms, 2007-2019
Figure 6:
Trade Balance, In Value Terms, 2007-2019
Figure 7:
Per Capita Consumption, 2007-2019
Figure 8:
Market Forecast To 2025
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2007–2019
Figure 21:
Production, In Value Terms, 2007–2019
Figure 22:
Imports, In Physical Terms, 2007–2019
Figure 23:
Imports, In Value Terms, 2007–2019
Figure 24:
Imports, In Physical Terms, By Country, 2019
Figure 25:
Imports, In Physical Terms, By Country, 2007–2019
Figure 26:
Imports, In Value Terms, By Country, 2007–2019
Figure 27:
Import Prices, By Country Of Origin, 2007–2019
Figure 28:
Exports, In Physical Terms, 2007–2019
Figure 29:
Exports, In Value Terms, 2007–2019
Figure 30:
Exports, In Physical Terms, By Country, 2019
Figure 31:
Exports, In Physical Terms, By Country, 2007–2019
Figure 32:
Exports, In Value Terms, By Country, 2007–2019
Figure 33:
Export Prices, By Country Of Destination, 2007–2019

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