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The forklift industry returns to the fast lane, the sales of electric forklifts reached 145,000 units in the first three quarters

by:Staxx Pallet Truck     2021-06-24
Since the beginning of this year, the domestic economy has been generally stable, and the downstream demand for construction machinery has continued to exceed expectations. We judge that the continuity will also be better than the previous cycle high. Forklifts are widely used downstream and are closely related to the overall macroeconomics. At present, the forklift industry's return to the fast lane is mainly due to the fact that the capacity expansion at the high point of the previous cycle was smaller than that of other construction machinery varieties. According to the 'Forklift Manufacturing Industry Production and Sales Demand Forecast and Transformation and Upgrading Analysis Report' released by the Foresight Industry Research Institute, from 2011 to 2016, despite the overall downturn in the construction machinery industry, the forklift industry generally remained stable with a slight growth. As of the first three quarters of 2017, the cumulative sales of forklifts in the entire industry reached 369,000, of which the cumulative sales of internal combustion counterbalanced forklifts reached 224,000, and the sales of electric forklifts reached 145,000 in the first three quarters. Forklift industry sales and growth data source: Foresight Industry Research Institute. Globally, the overall market size in 2016 exceeded 1.18 million units, an increase of 8% year-on-year. Traditional markets such as Western Europe and North America also achieved growth. Since the beginning of this year, the economic situation of major foreign economies has also been relatively optimistic. From the perspective of import and export data, the total import and export volume in the first half of this year was 13.141.2 billion yuan, a year-on-year increase of 19.6%, of which exports were 7.209.7 billion yuan, a year-on-year increase of 15.0%. Benefiting from the rebound in exports, 58,600 forklifts were exported in the first half of this year, an increase of 17.96% year-on-year. In addition, the “Belt and Road” initiative is steadily advancing, and infrastructure projects and engineering contracting projects in emerging countries along the route are growing rapidly. In the short term, excavators and other construction machinery will benefit greatly. In the medium and long term, the demand for forklifts will also increase significantly, and the domestic forklift industry will fully benefit . The downstream of forklifts covers a wide range, including manufacturing, transportation, postal, warehousing, wholesale and retail, etc. In recent years, the domestic manufacturing industry has continued to expand, providing a basis for the increase in sales of forklifts. The development of the forklift industry is highly correlated with the manufacturing industry, and the correlation coefficient between the two is as high as 0.8. In September this year, the manufacturing PMI index was 52.4, an increase of 0.7% from the previous month. It has been above the Kurong line for 14 consecutive months, indicating that the manufacturing industry is in a period of accelerated expansion. The continuous expansion of downstream manufacturing will directly drive a substantial increase in forklift sales. The 'Forklift Manufacturing Industry Production and Sales Demand Forecast and Analysis Report on Transformation and Upgrading' issued by the Prospective Industry Research Institute uses a large number of professional analysis tools, combined with related theoretical models, and comprehensively uses quantitative and qualitative analysis methods to analyze the operation status of the forklift industry in the past 5 years. In-depth analysis of the industry’s solvency, profitability, operating capacity, and growth capabilities and other key indicators of the industry’s solvency, profitability, and growth capabilities have been conducted, and the forklift industry’s possible policy risks, market risks, and technical risks have been analyzed in depth. Risks were assessed objectively and rigorously.
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