Industrial Truck Association member survey depicts a stabilizing marketplace
WASHINGTON, DC – The production of powered industrial trucks, or forklifts, appears to be growing steadily this year, a positive sign for companies who produce forklifts as well as for the U.S. economy as a whole.
Data gathered from members of the Industrial Truck Association (ITA) shows an estimated expected growth of 2 to 3 percent for 2013 over 2012 figures, with another 1 to 2 percent increase anticipated in 2014.
ITA gathers market intelligence quarterly to help its members depict trends and recognize the changing needs of the industry.
In survey results from April just released, ITA members estimated the 2013 market for forklifts at approximately 179,000 to 184,000 units, compared to 178,904 for 2012.
In addition, 89 percent of members expect that in 2013, they will increase overall factory shipments above 2012 levels.
“We’re seeing a promising trend of renewed growth in demand for powered industrial trucks since 2009 to 2010, when the recession greatly impacted our industry,” said Jim Moran of Crown Equipment Corporation and Chairman of ITA. “This steady growth shows some stability returning to the marketplace.”
About half of the companies report they are on track to increase the number of production employees this year above 2012 numbers.
Moran said good news for the forklift industry is usually good news for the country, noting that forklift sales often mirror the ups and downs of the country’s Gross Domestic Product.
“Our industry’s growth is a strong indicator of growth in the manufacturing sector, and we’re selling a lot of products into the automotive and warehousing industries,” he said. “Our rebound is symbolic of the economy’s rebound. We’re cautiously optimistic.”
ITA is the voice of the forklift manufacturing industry. Publicly available data can also be found in the Marketing Intelligence section of ITA’s website, indtrk.org. For more than 60 years, the Industrial Truck Association has been the leading organization of industrial truck manufacturers and suppliers of component parts and accessories that conduct business in the United States, Canada and Mexico. Based in Washington, D.C., ITA maintains an influential voice in international standards development for the industry. The organization also advances engineering practices to promote safe products, disseminates statistical marketplace information, and provides industry forums for learning and networking.