lift truck report final 1-5-2015
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Information has been obtained from sources believed to be reliable, but Yengst Associates does not warrant its completeness or accuracy. Opinions and estimates constitute our judgment as of the date of this material and are subject to change without notice. Past performance is not indicative of future results. Any form of reproduction, copying or distribution of this material is strictly prohibited without prior written consent from Yengst Associates, Inc. International copyright laws protect all materials published by Yengst Associates, Inc. All rights reserved 2015.
Equipment Analysis North America
Industrial Lift Trucks
January 2015
Yengst Associates, Inc. 35 Old Ridgefield Rd.
Wilton, CT 06897 Telephone +1 203 762‐8096
Website: www.yengstassociates.com E‐mail: mail@yengstassociates.com
TABLE OF CONTENTS | INDUSTRIAL LIFT TRUCKS
EXECUTIVE SUMMARY .................................................................................................. 1
NORTH AMERICAN SALES ............................................................................................. 2
Sales Breakdown By Lift Capacity ............................................................................ 4 Sales Breakdown By Region .................................................................................... 5 Market Trends ......................................................................................................... 5
MARKET SHARES ........................................................................................................... 6
Electric Trucks: (Classes 1 / 2) ................................................................................. 6 Electric Walk Behind (Class 3) ................................................................................ 8 Internal Combustion: (Classes 4 / 5) ....................................................................... 8
NORTH AMERICAN PRODUCTION ................................................................................ 9
Electric: (Classes 1 / 2) ........................................................................................... 10 Electric Walk Behind (Class 3) ............................................................................... 11 Internal Combustion: (Classes 4 / 5) ..................................................................... 11
EXPORTS / IMPORTS ................................................................................................... 11
COMPONENT SUPPLY .................................................................................................. 12
FIELD POPULATION ..................................................................................................... 13
FORECAST .................................................................................................................... 14
SUPPLIER SUMMARY ................................................................................................... 15
Mitsubishi Caterpillar (MFCA) ............................................................................... 16 Crown Equipment .................................................................................................. 17 Doosan ................................................................................................................... 18 Hyster ‐ Yale .......................................................................................................... 18 Komatsu Forklift .................................................................................................... 19 Linde Material Handling ........................................................................................ 19 UniCarriers Americas ............................................................................................. 20 Raymond ............................................................................................................... 20 Toyota .................................................................................................................... 21 Other Suppliers ...................................................................................................... 22 Other Suppliers ...................................................................................................... 23
MANUFACTURER ADDRESSES ..................................................................................... 24
INDUSTRIAL LIFT TRUCK SPECIFICATIONS .................................................................. 26
Equipment AIndustrial LiftJanuary 2015
EXECUTIVSUMMAR
Analysis t Trucks 5
VE RY
Yengs
Indust
This report as an updabeen a partmarkets froare found inweight and are a factor Table 1 prostatistical sof each masection of treport for ye2013. The and Canadmarkets forhad an estiwholesale v$5.0 billion This dollar is based onestimated uin the markand a weigaverage of wholesale plift trucks ofsizes duringyear. Whilecompleted on this repoend of 2014not have finfor the year The North Arecession thas had fiveand in all lifroughly 87 IC Classes
st Associates ©
trial Lift
examines theate to our prevt of the indust
om factories ton almost everdistance
r.
ovides a ummary
ajor his ear-end U.S. ian r forklifts mated value of in 2013. amount
n total unit sales ketplace hted
prices for f all g the e we the work ort at the 4, we do nal data r.
American mahat started ine years of recft truck markepercent for C4 and 5 truck
Ta
St
Es E E INo E E I O TNo E E I O TIm N NFie Fo P SSo
2015 All Rights R
t Trucks
e industrial liftvious report otrial marketplao warehouse ry end market
rket for these 2008 and encovery. Saleset segments. Classes 1 andks. Class 3 s
able 1: Statisti
atistical Catego
stimated MarketElectric (Classes Electric Class 3 Internal Combusorth American SElectric (Classes Electric Class 3 Internal CombusOther (Non‐ITA)Total Sales orth American PElectric (Classes Electric Class 3 Internal CombusOther Non‐ITA Total Productionmports / ExportsNA Imports UnitNA Exports Uniteld Population N Electric (Classe Electric Class 3 Internal Comb Total Populatioorecast (% changProduction (All CSales (All Classeource: Yengst As
Reserved. Conte
s
ft truck markeof December 2ace for decadand distributit where good
e machines wnded in 2009. s for most supFrom 2009 th 2 machines
sales improve
cal Summary –
ory
t Value ($‐millio1, 2)
stion (Classes 4, Sales (units) 1, 2) ITA ITA stion (Classes 4, )
Production (unit1, 2) ITA ITA stion (Classes 4,
n s ts / % of Sales ts / % of ProducNA (units) es 1 and 2) 3 bustion (Classes 4on ge) Classes) es ssociates
ents confidential
et in North Am2010. These des and are foion sites to bis have to be
was deeply aff Since that ti
ppliers have ihrough 2013,combined and 84 percent.
–2013
ons)
5)
5) ITA
ts)
5) ITA
tion
4 and 5)
l to the Client
merican and semachines ha
ound in manyg box stores.moved and w
fected by the me, the markimproved ove, sales incread 131 percen.
2013
$$$
557
19
566
19
13,5005,000
686996
2,34’13 – ‘14 ’14
10.2%9.2%
1
erves ave y end They
where
ket erall sed
nt for
$1,627$1,062$2,340
58,10058,05073,1005,000
94,250
58,50061,00067,5004,500
91,500
0 / 7%0 / 3%
89,00098,00060,00047,000– ‘15 8.8%8.0%
22
NORTH ASALES
AMERICAN
Yengs
Production portion of sthe next fiveline with sa As for our othe market sales were 2013 levelsexpected e2015 and ththe industrythen modesline with a slikely occurThe economCanada wilto the downdifficult to pactually occthat it will tanegative slivery sluggiseconomy sand the facbusiness ovimproved a
N A cyclical pyears, as shave been Class 3 trucbased on fa
0
20,000
40,000
60,000
80,000
100,000
200
t Associates © 2
levels for mosales come froe years, and
ales of machin
outlook for indin 2014 has bup an estima
s, which is higarlier in 2014he four years y to peak in sastly decline inslowing econor within the nemy in the Unitl be long ove
nside by 2016project when acur. On a posake several mide to take plash positive chince the reces
ct that inflationverall continu
and not out of
pattern of salehown in the ccombined beck sales are nactory shipme
00 2001 2002
Sales of Elec
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ost lift trucks foom domestic production le
nes before 20
dustrial fork lifbeen a good oated 10 percegher than we 4. Moving forw
thereafter, wales around 2
n a cyclical maomic cycle thaext three to fivted States anrdue for a cyc
6. However, ita change migsitive side, we
more years forace because hanges madession five yean remains veres to be modcontrol and a
es has occurrechart below. Celow, as have not included ients for all su
2003 2004 200
ctric and IC Ri
Classes 1
Reserved. Conte
follow the saleproduction. W
evels will incre018.
ft trucks, one and
ent over had ward to
we look for 2016, anner in at will ve years. nd that of clical shift t is ght e believe r a of the
e in the ars ago, ry low and derately approaching a
ed for industrClasses 1 andthe IC lift trucn the chart. ppliers as ide
5 2006 2007 2
ide On Lift Tru
+ 2 Classes 4
I
nts confidential
es side closelWe see this trease to over 2
a “bubble” situ
rial lift trucks od 2 (electric rck sales of Cl Industrial lift
entified by the
Class Desc
1
Electrincludsit-dotypes
2
Electraisle order-and tu
3 Electrhigh ltrucks
4
Internpowerider ltires.
5
Internpowerider lpneum
2008 2009 2010
ucks in North
+ 5
Equipment Anndustrial Lift T January
to the Client
ly because a rend continuin240,000 units
uation.
over the past ride-on truckslasses 4 and t truck sales ae Industrial Tr
ription
ric-powered riderding counter-balaown and stand-up.
ric-powered narrrider trucks inclu-pickers, side-loaurret and reach t
ric-powered low ift walk-behind ps.
nal combustion-red counter-balalift trucks with cu
nal combustion-red counter-balalift trucks with matic tires.
2011 2012 20
America
alysis Trucks 2015
high ng for
s in
10 s)
5. are ruck
r trucks anced, p
ow uding aders, trucks.
and pallet
anced ushion
anced
013
Equipment AIndustrial LiftJanuary 2015
Analysis t Trucks 5
Yengs
Associationfor these mgenerally belectric truc2010, IC ridbut the mar
In Table 2, for all suppestimated sinformationtruck supplAssociation As seen in point in dem2013 to theanalysis of 40 years du Table 2: IndEstimated S (Units)
Class 1 (Electr
Class 2 (Electr
Class 3 (Elect
Class 4 (IC‐Cu
Class 5 (IC‐Pn
Subtotal ITA E
Other Lift Tru
Total Sales Source: Yengst not reporting a The econommachines. and flow of our daily liveconomic ato name a f As shown ihave the hishown. In 2Classes 1 arespectivelytrucks, held
st Associates ©
n, which accomachines. As s
een lower thacks outsold thde on truck sargin of differe
we show the liers (based o
sales from co is estimated iers, informat
n, and other s
the chart, salmand) then ree levels shownthe market, t
uring the dow
dustrial Lift Truales in North A
ric Sit Down)
ric Narrow Isle)
tric Walk Behind)
shion Tire)
eumatic Tire)
Est. Sales
ck Sales*
Associates; Indusnnual results to IT
my is the largFor this reasothe economy
ves and are deactivity, emplofew.
n the above tghest level of
2013, Class 3and 2 (electricy of all sales, d 18 percent a
2015 All Rights R
unts for roughseen in the chan the IC truche IC machineales have oncnce has been
estimated foon shipmentsmpanies not dby Yengst As
tion that is pusources.
es declined sebounded follon both in the the industry ex
wnturn from 20
ucks America by Cla
2008 29,100
20,800
48,100
31,750
36,550
166,300
4,000
170,300 strial Truck AssociaTA.
est single facon, sales of lify, as lift trucksependent onoyment, manu
table, Class 3f sales by typ
3 trucks accouc rider trucks)while Classe
and 21 percen
Reserved. Conte
hly 97 percenhart, electric r
ck sales, but ines by a small ce again outson small.
rklift truck sal) from 2008 tdisclosing thessociates basblicly availab
significantly frowing the finatable below axperienced th007 through 2
ass Type: 20082009 20
20,450 22,2
10,800 12,7
31,500 40,3
14,850 14,6
16,750 15,0
94,350 104,8
2,000 2,5
96,350 107,3ation *Estimates
ctor behind thft trucks are hs are used in market driver
ufacturing, se
3 trucks (electpe of machineunted for 31 p) representedes 4 and 5, thent respectivel
ents confidential
nt of all sales ride on truck sn 2010 that cmargin. Movold the electr
les in North Ahrough 2013,eir activities tosed on discusle from the In
rom 2007 throancial crisis fr
and in the chahe biggest sa2009.
8 ‐ 2013 010 2011 200 30,250
750 18,950
300 46,450
600 29,050
000 35,300
850 160,000
500 3,800
350 163,800 s for a number of
he cyclical demhighly dependnumerous aprs such as ch
ervices, and c
tric walk behine annually for percent of all td 18 percent ae IC (internal ly for all sales
l to the Client
by lift truck Osales have hanged briefling forward sic counterpar
America by cla, along with o the ITA. Thssions with liftndustrial Truck
ough 2009 (throm 2009 thro
art. Based oles decline in
2012 32,950 3
21,100 2
52,100 5
27,950 3
34,350 3
168,450 18
4,300
172,750 19f other lift truck s
mand for thesdent on the ebpplications wihanges in capital investm
nd machines)each of the ytruck sales. and 12 percen
combustion) s.
3
OEMs
y and ince rts,
ass
his t k
he low ough
on our over
2013 34,500
23,600
58,050
33,500
39,600
89,250
5,000
94,250 uppliers
se bb thin
ment
) years
nt rider
44
Sales BreBy Lift Ca
eakdown apacity
Yengs
The “Othersby smaller sor suppliersfigures. Weof total truc
Sales are sabove. In smachines isThere are vlift capacitiecompared tsince somemodels verlifting capac Table 3: InEstimated
E
Pounds
< 4,000 4,000 – > 6,500 Total Class 3 <6,000 Total Source: Yeng
It is interestidentity in thclass for bo60 percent capacity) acsimilar IC m
t Associates © 2
s” category insuppliers mars manufacturie believe the “ck sales for an
shown for the imilar mannes shown in thvariations of tes of 4,500 toto roughly 61 e companies frsus other supcities.
ndustrial Lift TrSales BreakdoElectric (Classes
Uni
17,4036,604,10
58,10
58,0558,05
gst Associates;
ting to note thhat the 4,000oth types of mfor all machinccounted for
machines rate
33,500 18%
Indus
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n the table is arketing trucksng trucks dom“Others” segmny given year
various typesr, sales by size table belowhese sales br
o 6,500 lbs reppercent in 20
focus on the sppliers that of
rucks own by Lift Cap1 + 2)
its
00 300 600 00 10
50 1050 10ITA Note: Table
hat IC and ele to 6,500 lbs
machines and nes sold. Eleapproximatel
ed less than 4
58,050 31%
39,600
strial Lift Truck
Reserved. Conte
a composite os in North Ammestically, bument of sales r.
s of lift trucksze of lift truck
w based on oureakdowns fropresented 63009. These esmall and midffer a spectrum
pacity in NorthIntern
% Pounds
30 < 4,000 63 4,000 ‐ 6,507 6,500‐ 13,0
00 13,000 ‐ 16 16,000 ‐ 30
00 > 30,000 00 Total e does not includ
ectric machinelift capacity shave similar
ectric lift trucksy 30 percent
4,000 lbs were
21%
k Sales by Typ
I
nts confidential
of sales of lifterica from ov
ut not includedrepresents a
in Table 2 ank for the variouur estimates fom year-to-ye
3 percent of alestimates varyd-sized machm of models c
h America ‐ 20nal Combustion
00 000 6,000 0,000
de “other” lift tr
es have at leasegment is thesales breakds (rated less tof the electric
e approximate
34,500 18%
23,600 12%
e in 2013
Equipment Anndustrial Lift T January
to the Client
t trucks (all typverseas locatid in ITA sales
about 2 - 3 pe
nd the chart us types of from 2013 salear. IC trucksll IC trucks soy by manufacines of biggecovering all w
13 n (Classes 4 + 5)
Units
9,500 46,000 11,000 2,900 2,200 1,500
73,100 uck sales
ast one comme most popula
downs exceedthan 4,000 lbc trucks sold,ely 13 percen
%
C
C
C
C
C
alysis Trucks 2015
pes) ons s rcent
les. s with old cturer r
weight
%
13 63 15 4 3 2
100
mon ar lift ding bs lift
while nt of
Class 1
Class 2
Class 3
Class 4
Class 5
Equipment AIndustrial LiftJanuary 2015
Sales BreBy Region
Market T
Analysis t Trucks 5
eakdown n
Trends
Yengs
total IC maclbs lift capawhereas aplbs. Class 6,000 lbs lif
Our researcaround met2013, the Urange of 3490 percent came from have range
As shown, which over
U. S. Region
Midwest
Northeast
South
West
Source: Yengst
Market trenhave coverpower for efuel cells astudied for represent aOEMs are qtechnology
Table 4: Ind(Units and PeRegion South Midwest West Northeast Total USA Canada Total No. ASource: Yeng
st Associates ©
chines sold. acity represenpproximately 23 machines (ft capacity.
ch indicates ttropolitan are
US population4 million. Ourof sales durinCanada. Ca
ed from 8 perc
the Canadianthe past few
nal BreakdownIndiana, IllinoN. Dakota, S. DConnecticut, MNew York, PenDelaware, DisS. Carolina, ViTennessee ArkArizona, ColoCalifornia, Haw
Associates
nds for industred previouslyelectric trucksas a replacemover 25 years
a very small pquietly studyias we move
ustrial Lift Truckrcent)
America gst Associates, IT
2015 All Rights R
As expected,nts a small po24 percent ofwalk-behind e
that the majoras and is high
n was roughlyr analysis of thng 2013 camenadian sales cent to 12 per
Within the
n market repreyears is reas
n of States is, Michigan, OhioDakota Maine, Massachusnnsylvania t. Of Columbia, Florginia, W. Virginiakansas, Louisiana,orado, Idaho, Newaii, Oregon, Was
trial lift trucksy, namely eng. We should
ment for batters. However,
portion of elecng the use offorward.
k Sales by Regio2S
71,45,30,22,
170,18,
189,TA
Reserved. Conte
, sales of elecortion of the tof all IC machinelectric trucks
rity of industrihly dependen
y 310 million, whe sales by ree within the Uas a portion
rcent in recen
e United State
esented abousonably close
o, Wisconsin, Iowa
setts, New Hamps
orida, Georgia, Maa, Alabama, Kentuc Oklahoma, Texasew Mexico, Monshington
continue to rgine emissionnote that morries, somethinfuel cells to o
ctric truck salef fuel cells and
on 2013 2013 Sales %,900 3,400 2,300 1,750 1,350 9,900 1,250 10
ents confidential
ctric machineotal electric trune sales are rs) are typicall
ial lift trucks isnt on populatiwhile that of Cegion shows
U.S., the balanof total sales
nt years.
es The soutregional accountipercent otruck salthe Midwthe Westand the Npercent. regional states is
ut 10 percent to the norma
a, Kansas, Minnes
shire, Rhode Island
aryland, N. Carolincky, Mississippi stana, Utah, Nev
revolve arounns for the IC trre is heard abng that has beour understanes in the markd even diesel
% 8 4 6 2
90 0
00
l to the Client
s rated over 6ucks sold, rated over 6,5y rated at or b
s sold in and on distributionCanada was that approximnce of 10 pervary annually
th is the leadinmarket, ng for about 3of all industriaes, followed b
west at 24 pert at 16 percenNortheast at (A guide to thbreakdown bprovided belof sales in 20
al.
ota Missouri, Neb
d Vermont, New J
na
ada, Wyoming A
d two issues rucks and ACbout the use oeen discusse
nding continueketplace todal fuel cell
5
6,500
500 below
n. In in the
mately rcent y and
ng
38 al lift by rcent, nt 12 he by ow.) 013,
braska,
Jersey,
Alaska,
we C-of
ed and e to
ay.
66
MARKET
Electric Tru(Classes 1 /
SHARES
ucks: / 2)
Yengs
Emislargecompalreapoweand oemissall.
Alongbeenconseand bnot inThereto red
For e
Whilemarkabovdepefor m
There are athe North Amembers oall lift truck ITA. (The cpercent of tthe Market
In this sectitruck by mainternal comindustry shClasses 1 acombustionseparately
For the Clamachines Caccounting below. Crow1 and 2 trucmarginally d
t Associates © 2
ssions – Tier IC-powered
pliance as of Jdy meet EPA
ered by liquid other fuels. Tsion goals, an
g with attainin working on mervation as wbattery packs n high demane is no questiduce high ope
electric powere we did not mketplace by Oe 3,000 lbs lifnding on the
most OEMs.
approximatelyAmerican marof the Industriasales; there a
companies thatotal lift truck Share data s
ion we providanufacturer fombustion enghipments) inand 2 for the en trucks. Clasfor the first tim
ass 1 and 2 elClass 2), Crow
for approximwn produces cks. Crown haduring the mo
2015 All Rights R
4 has arrivedlift trucks (75 January 1, 20
A standards. Opropane gas
The manufactund, of course,
ng the EPA gomaking their m
well. Hybrid mhave been ad since LPG on, however,erating costs
ed trucks, ACmake an exteEM, we recogft capacity arelift capacity. E
y 30 suppliersrket. Roughlyal Truck Assoare a numberat are not mesales annuall
shown below.)
e our estimator each of theine machines
n our market electric truckss 3 trucks (eleme in this rep
ectric trucks (wn Equipmeately 25 percand sells elecas improved ost recent five
Reserved. Conte
d in the IC ind hp and abov
015. Trucks raOf course, m, which is verurers have w, a tremendou
oals, all manumachines mo
models with ICavailable for smachine opti that reducedis foremost in
C-Power is nonsive survey gnize the facte offered withEven hand op
s of industrial y 20 of these cociation and cr of other supmbers of ITAly from our es)
tes of the salee various types. We considshare analys
s and Classesectric motor h
port.
(counterbalanent has for yecent of industrctric lift trucksits position ine-year period
I
nts confidential
dustrial truck mve) will be covated below 75any trucks in ry clean burniorked hard tous investmen
ufacturers offere efficient an
C engines andeveral years,ons exist in th
d fuel consumn OEM minds
ow a standardof all machin
t that nearly ah 24, 36, 48, aperated mach
lift trucks offecompanies (b
comprise rougpliers that are
A generally acstimates and
es of machines of machine
der only ITA ssis. We havs 4 and 5 for hand lift truck
nced Class 1 ars been the ry sales, as ss, and is equa
n electric lift trrelative to th
Equipment Anndustrial Lift T January
to the Client
market. Smavered for Tier 5 hp in many the IC segmeng compared
o reach the net has been m
ering IC trucknd improvingd electrical ge although hybhe marketpla
mption and thes.
d for most OEnes being soldall electric trucand 80 volt AChines carry AC
ering machinebrand names)ghly 97 percee not membercount for aboare not includ
es by type of s, i.e. electricsales (basedve combined internal
ks) are reporte
and narrow isleading supphown in the taally strong in uck sales e other suppl
alysis Trucks 2015
all and 4 EPA cases ent are d to diesel ew
made by
ks have fuel
enerators brids are ce. e means
EMs. d in the cks rated C designs C designs
es in ) are
ent of rs of
out 3 ded in
lift c and d on
ed
sle plier, able Class
iers.
Equipment AIndustrial LiftJanuary 2015
TaNOCRaToYaHCaNJuCDMKoLiHToSo
Electric Wa(Class 3)
Analysis t Trucks 5
able 4: Industorth American
OEMs rown aymond oyota ale yster aterpillar (MCFAissan/TCM ungheinrich (MClark oosan
Mitsubishi (MCFAomatsu nde yundai otal ource: Yengst Asso
alk Behind
Yengs
Yale and Hsales in 20
Raymond, almost exclClasses 1 anarrow isle trucks. Toyheavily leanride-on elecindustry maaccounted percent shaNissan/TCtrucks) in 21.5 percentof the electleader. Junposition ovemachines; on Class 1 but has gai
rial Lift Trucksn Sales by Supp
2009 8,100 5,900 4,700 4,400 2,900
A) 1,500 1,150
CFA) 25 750 550
A) 475 250 400 50
31,250 ociates Sales base
As shown have generyears – 200truck sales the U.S. mthat began
st Associates ©
Hyster, the tw13, as compa
which is a sulusively. We and 2 marketstrucks (Class
yota, by itself,ning towards ctric trucks, harket position for about 7 peare of these trM held 3 perc013 along witt of the marketric market in ngheinrich oer the past fivDoosan withtrucks; Hyunned some po
s – Electric Clasplier 2009 ‐ 20
% 20126 8,90
18.9 6,8015 5,20
14.1 4,809 3,25
4.8 1,803.7 1,30<1 52.4 901.8 601.5 55<1 301.3 45<1 5
100 34,95ed on ITA factory s
in the chart rally ranged 06 and 2009were in higharket. 2009 in 2008. Wh
2015 All Rights R
wo brands comared to shares
ubsidiary of Toestimate thats for most of ts 2 machines, holds about ride-on trucksas generally for Classes 1
ercent of the ruck sales ducent of the eleth Linde, Komet; Clark Materecent years,
of Germany atve years, bein1.7 percent m
ndai had little osition during
sses 1 and 2 013 0 % 200 25.5 12,00 19.5 9,00 14.9 7,00 13.7 6,50 9.3 4,00 5.2 2,00 3.7 1,50 <1 1,00 2.6 1,00 1.7 50 1.6 00 <1 50 1.3 50 <1 50 100 49,shipments.
below, electrin the 40,000. 2006 was a demand durwas the low
hile we have n
Reserved. Conte
mbined, accous of 25 - 30 pe
oyota, product Raymond hethe past five y) than it is wit14 percent os). Caterpillaheld about 4 1 and 2 trucksClass 1 categ
uring the mid-2ectric lift truckmatsu, and Merial Handlin, whereas 20 t 2.6 percent ng strongest imarket penetor no marketthe past two
2011 %,500 25.4 ,200 18.7 ,100 14.4 ,600 13.4 ,600 9.3 ,300 4.7 ,600 3.3 ,200 2.4 ,200 2.4 800 1.6 775 1.6 600 1.2 650 1.3 75 <1
,200 100
ric walk behin0 – 50,000 aan extraordinaring a very strpoint in salesnot covered m
ents confidential
unted for 22 percent 10 yea
ces and sells eld about 18 pyears. Raymoth counterbalaf the electric t
ar, which offer- 5 percent ofs. Caterpillargory in 2013 a2000s. k market (weiMitsubishi eang has held ju
years ago waof the marketn narrow-isle ration is weigt penetration fyears.
2012 13,800 2510,200 187,600 147,200 134,900 92,500 41,750 31,350 21,200 2900 1850 1800 1700 1300
54,050 1
nd truck saleannual unit raary situation wrong economs during the fmarket penet
l to the Client
percent of indars ago.
electric lift trupercent of theond is strongeance (Class 1truck market,rs only Class f the overall r, however, and held ove
ghted to ride-ach held rougust over 2 peras a market t has grown to(Class 2)
ghted towardsfor several ye
% 2013 5.5 14,600 8.9 10,900 4.1 8,200 3.3 7,500 9.1 5,200 4.6 2,700 3.2 2,000 2.5 1,500 2.2 1,200 1.7 1000 1.6 900 1.5 900 1.3 800 <1 700
100 58,100
es (ITA shipmange except iwhere walk bic period of tifinancial slowtration for the
7
dustry
ucks e er in 1) lift 1
r 10
-on ghly rcent
o its
s ride-ears,
%25.1 18.8 14.1 12.9 9.0 4.6 3.4 2.6 2.1 1.7 1.5 1.5 1.4 1.2 100
ments) n two
behind ime in
wdown ese lift
88
Internal CoTrucks (Cla
Units
ombustion asses 4 / 5)
54,05
0
20,000
40,000
60,000
80,000
100,000
120,000
2000
Yengs
trucks in paof the variomake it a compared t Crown, Hyssuppliers in(Nissan andcategories,accounting Yale togethToyota/Raydominant openetrationestimated 5represented
On the IC swith a breaof the markwith approxnext closes(Mitsubish Nissan/TC5 together hother suppl“Others” areless than 1
0
40,950
40,100
0 2001 2002
t Associates © 2
ast reports, wous supplierspart of this rto the low poi
ster/Yale, andnclude Junghed Barrett com Crown has afor roughly 3
her hold an esymond combiof the two brann in 2013, whi5 percent shad an estimate
side of lift truckout of sales
ketplace. As sximately 34 pest competitorshi and Caterp
M (UniCarriehaving about iers rated at 5e shown groupercent from
0
40,350
48,750
5
2003 2004
Class 3 L
2015 All Rights R
we have a bets in Class 3 report. For 20nt of 31,500 u
d Raymond/Toeinrich (MCF)
mbined). As wa commanding32 - 33 percenstimated 23 -ned total abonds. Jungheinle the Nissan
are. All other ed 8 - 9 perce
cks, sales basby the suppli
shown, for Claercent of indus include Hystpillar) at 17 pe
ers) is a stron8 percent ma
5 percent anduped together
m our analysis
50,850
100,050
53,5
2005 2006
Lift Truck Sales
Reserved. Conte
tter understantrucks than
013, sales wunits in 2009.
oyota are the), Clark, Mitsuwith the Classg position in tnt of the mark25 percent of
out 23 - 25 penrich held clo
n/Barrett combITA member
ent market pe
sed on ITA shiers as we haasses 4 and 5ustry sales duter-Yale comercent based
ng competitor arket penetratd lower, as shr as each hass of the marke
500
48,100
3
4
2007 2008 2
s in North Am
I
nts confidential
nding of the mbefore and f
were estimate.
e market leadeubishi, Linde s 1 and 2 electhe Class 3 seket in recent yf industry salercent with Rase to 6 percebination accocompanies tonetration.
hipments are ave estimated5, Toyota is turing the past
mbined at 20 p on 2013 resu
combination tion, followed
hown above. s a very low met.
31,500
40,300
2009 2010 20
merica
Equipment Anndustrial Lift T January
to the Client
market involvefeel it importaed at 58,050
ers. Other and UniCarriectric lift truck egment,
years. Hysteres, while
aymond the ent market ounted for an ogether
provided belo from our anahe market leafive years. T
percent and Mults.
in Classes 4 d by a number
A number of market share o
46,450
52,100
011 2012 20
alysis Trucks 2015
ement ant to units,
ers
r and
ow, alysis ader he
MCFA
and r of
of
58,050
13
Equipment AIndustrial LiftJanuary 2015
Table 5North AOEMs
Toyota
Caterpi
Hyster
Yale
Nissan/
Mitsub
Clark
Doosan
Komats
Linde
Hyunda
*Others
Total
Source:
NORTH APRODUCT
Analysis t Trucks 5
5: Industrial LiAmerican Sale
llar (MCFA)
/TCM
ishi (MCFA)
n
su
ai
s
Yengst Associat
AMERICANTION
Yengs
ft Trucks ‐ Intes by Supplier:
2009
10,800 34.3,700 11.3,200 10.3,200 10.2,600 8.1,500 4.1,700 5.1,600 5.1,000 3.800 2.200 0.
1,300 3.31,600 100
es *Others: Cro
As we discunot report ssales for th2009 to 5,0suppliers (n However, TChrisman,Several of tspecialty lintrucks usedshaped or ltruck. Heli Aimported frolift trucks us“Others” als(Taiwan), LSichelschm
N Production these machof machineanalysis of exports of lof this repoproduction
st Associates ©
ernal Combust2009 ‐ 2013 % 2010
.2 10,300
.7 3,500
.1 3,050
.1 2,950
.2 2,400
.7 1,300
.4 1,500
.1 1,600
.2 1,000
.5 700
.6 200
.0 1,100 .0 29,600
own, Hamech, L
ussed earlier,sales or shipmese suppliers
000 units in 20not members
Taylor Machi Moffet Mounthese compannes of lift trucd for moving mong objects tAmericas offeom China. Tased for lifting so include suLandoll, Hoismidt. Each c
of electric-pohines. There s by manufacthe demand sift trucks by th
ort’s preparatioestimates fro
2015 All Rights R
tion Classes 4 a
% 201
34.8 21,80011.8 8,30010.3 6,70010.0 6,4008.1 5,4004.4 3,2005.1 3,7005.4 2,7003.4 2,4002.4 2,0000.7 2502.7 1,500
100.0 64,350
ift Rite, UTILEV,
, there are a nment data to ts from 2009 th013. We did of ITA).
ne, Manitex nty, Combilifnies (Princetoks, some desmaterials at jothat cannot noers a more staaylor Machinelarge containppliers includst, EP Equipmcompany’s pro
owered industare no indust
cturer. We haside of the mahe OEMs andon. Please no
om all other su
Reserved. Conte
and 5
1 %
0 33.9 20 12.9 0 10.4 0 9.9 0 8.4 0 5.0 0 5.7 0 4.2 0 3.7 0 3.1 0 0.4 0 2.3 0 100.0 6
and LiuGong. S
number of othhe Industrial hrough 2013 not break out
(Schaeff andft, and Heli aon, Chrismansigned for moobsites, and oormally be moandard line ofe is well know
ners and otheding Rico, Taiment, Elwell-oduct line is o
trial lift trucks try trade stati
ave estimatedarket, taking d other informote that we haupplier manuf
ents confidential
2012 %
21,000 33.7
7,900 12.4
6,400 10.3
5,900 9.5
4,900 7.9
3,000 4.7
3,300 5.1
2,900 5.1
2,300 3.8
1,800 2.9
1,500 2.1
1,400 2.7
62,300 100.0
Sales based on IT
her lift truck sTruck Associranged from t sales for the
d Lowry), Priare important , Moffet and Cunting on com
others that areoved by a conf machines, a
wn for its heavr heavy-weigilift (Taiwan)-Parker, Big outlined later
follows closestics covering production binto consider
mation gained ave separatedfacturing estim
l to the Client
% 2013
7 25,000
4 8,900
3 7,600
5 7,100
9 5,800
7 3,600
1 3,500
1 3,100
8 2,600
9 2,300
1 1,700
7 1,900
0 73,100
TA factory shipm
uppliers that ation. Estima2,000 units in
ese other lift tr
inceton, in our opinionCombilift) offemmercial flatbe found liftingnventional lift all which are vy duty indusht objects. , World-Lift Lift, and in this report.
ely the demang production l
based on our ation imports during the co
d ITA suppliemates.
9
%
34.2
12.2
10.3
9.4
7.9
4.9
4.8
5.1
3.6
3.0
2.3
3.0
100.0
ments.
do ated n ruck
n. er bed g odd
trial
nd for levels
and ourse r
110
Electric: (Classes 1 /
TabNorOEMsCrownRaymToyotYale HysteMCFANissanKomaLinde Total Sourc
/ 2)
le 7: Industriarth American Ps n ond a
r A n / TCM tsu
ce: Yengst Associa
Yengs
Table 6: Ind
(Units)
Classes 1 & 2 (E
Class 3 (Elec Wa
Classes 4 + 5 (IC
Est. ITA Supplie
Other Suppliers
Total ProductioSource: Yengst Our machindata is self-production financial doprevious reinformationranged fromcould not bcompanies
Production ride-on trucToyota/RaymanufacturCrown at 2percent. Eain North Am
l Lift Trucks – EProduction by S
2009 %7,000 24.95,200 18.54,800 17.14,400 15.73,000 10.71,900 6.81,100 3.9300 1.1400 1.4
28,100 100.0ates
MCFA (Mitbeen consisfifth with 3 –accounting change in tforklift truck
t Associates © 2
ustry Producti
20
Elec) 28,1
alkie) 31,0
C) 28,1
ers 87,2
s* 1,6
on 88,8Associates, Inc. es
ne production-explanatory fin 2009 occu
ownturn and eeport relative t
about sales m about 1,600e confirmed, and a certain
levels for thecks) is provideymond togetred in North A26 percent, foach brand is s
merica, shown
Electric ClasseSupplier 2009
% 2010 9 8,700 5 6,900 1 5,400 7 5,000 7 3,600 8 3,000 9 1,500 1 300 4 500 0 35,000
tsubishi Catestently fourth – 4 percent infor the balan
the market proks since 2009
2015 All Rights R
ion of Industri
009 2010
100 35,000
000 40,000
100 28,700
200 103,700
600 2,000
800 105,700stimates *Non‐ITA
estimates byfor the periodrred at the tim
economic receto 2009 produthat year. No0 units in 200but include o
n level of expo
e primary lift tred in the tableher account f
America, whilellowed closelyshown separan earlier plus
s 1 and 2 9 ‐ 2013
% 201124.9 13,00020.0 10,80015.7 7,50014.9 7,30010.3 5,1007.7 4,0004.3 1,8000.9 6001.4 800
100.0 50,900
erpillar Forklfor the past f
ndustry produce of the induoduction posi
9.
Reserved. Conte
al Lift Trucks i
0 2011
0 50,600
0 48,000
0 60,000
0 158,600
0 3,000
0 161,600 A suppliers
y type of lift trd from 2009 thme sales wereession. We uction levels b
on-ITA supplie09 to 4,500 unour estimates orts outside o
ruck supplierse below for thfor 35 percene second in thy by Hyster-Yately to matchestimated ex
1 % 0 25.5 10 21.2 10 14.7 0 14.3 0 10.0 0 7.9 0 3.5 0 1.2 0 1.6 0 100.0 5
lift) held the ffive years. Nuction shares,ustry output. itions of the to
I
nts confidential
n North Amer
2012
53,700
55,000
58,200
166,900
3,600
170,500
ruck are showhrough 2013. e the lowest bmade an adjubased on morer estimated pnits in 2013. Tof domestic s
of North Amer
s of Classes 1he period of 2t of all electriche productionYale Materiah up with our
xports.
2012 % 14,000 11,000 20.3 8,100 15.0 7,700 14.2 5,200 9.6 4,500 8.3 2,000 3.7 800 1.5 800 1.5
54,100 100.0
fourth positionissan/TCM (U with Linde aThere has no
op players in
Equipment Anndustrial Lift T January
to the Client
ica
2013 % Ch’12
58,500
61,000
67,500
187,000
4,500
191,500
wn above. ThThe low poin
because of thustment to oure recent production levThese figures sales by theserica.
1 and 2 (elect009 through 2c ride-on truc
n department ls Handling aestimates of
2013 15,300 12,000 8,600 8,400 5,800 5,000 2,100 900 800
58,900 1
n in 2013 andUniCarriers)nd Komatsu ot been muchelectric ride-o
alysis Trucks 2015
hange – ‘13 8.9
10.9
16.0
12.0
25.0
12.3
e nt in e
ur
vels
e
tric 2013.
cks is at 24 sales
% 26.0 20.4 14.6 14.3 9.8 8.5 3.6 1.5 1.4
100.0
d has is
h on
Equipment AIndustrial LiftJanuary 2015
Electric Wa(Class 3)
Internal Co(Classes 4 /
EXPORTSIMPORTS
Analysis t Trucks 5
alk Behind
ombustion: / 5)
Table 8: IndusNorth AmericOEMs
Toyota
MCFA
Hyster
Yale
Nissan/TCM
Komatsu
Linde
*Others
Total Source: Yengst A
S / S
Yengst
This is our earlier, tota2009, downProduction Crown Equpercent of t27 percent (Clark, Nissindustry’s pmachines f
Toyota, Mitop manufacushion tirethe unit volproducing tindustry tottotal and Mheld close t10 percent.from South
strial Lift Truckcan Production
2009
10,800
5,200
3,200
3,200
2,600
1,000
800
1,300
28,100 ssociates *Other
Lift truck imunits to abo12,000 unit2010, impoprevious yemachines toestimated aunits in 201
t Associates © 2
first productioal production fn from roughlyby 2013 impr
uipment holdthe industry oand Hyster-Y
san/TCM, Mitproduction. Jurom Germany
tsubishi-Catacturers of sit-ed machines)ume in outputhese machinal productionCFA (Caterpto 9 percent o. Clark, Doos Korea.
ks ‐ Internal Con by Supplier 2
% 201
38.4 11,00
18.5 5,20
11.4 3,30
11.4 3,30
9.3 2,60
3.6 1,10
2.8 80
4.6 1,40
100.0 28,70s include: UTILEV,
mports in 2009out 7,000 unitts in 2008 andorts of all lift trears still causo reduce inveat about 7,50012, and 13,50
2015 All Rights R
on estimate fofor these macy 54,000 unitsroved to abou
ds the first posoutput. ToyotYale about 25subishi, and Lungheinrich (y.
terpillar (MCF-down IC lift t. These compt in 2013; Toyes in North A in 2013. Hysillar and Mitsuof the total, ansan, and Hyu
ombustion Cla2009 – 2013 0 %
0 38.3 22
0 18.1 11
0 11.5 7
0 11.5 6
0 9.1 5
0 3.8 2
0 2.8 2
0 4.9 1
0 100.0 60 Lift Rite, and Cro
9 were increats. Machine id even higherrucks gained sed manufactu
entories. Imp0 units, movin
00 units in 201
Reserved. Conten
or this categochines was ess in 2007 andut 61,000 unitsition in produta/Raymond5 percent of thLinde accounMCFA), a stro
FA), Hyster-Yrucks in Northpanies accouyota is by far
America represter-Yale accubishi Forkliftnd all other suundai, source
asses 4 and 5
2011 %
2,800 38.0
1,900 19.8
7,000 11.7
6,600 11.0
5,600 9.3
2,500 4.2
2,000 3.3
1,600 2.5
0,000 100.0 own.
ased over our mports prior tr in the years slightly, but inurers to restra
ports for all typng up to abou13. There are
nts confidential
ory of lift truckstimated at 31d 48,000 unitsts, up 97 percuction holdingis estimated
he output. Allnt for the balaong supplier,
Yale, and Nish America (pnnted for nearlthe biggest ssenting abou
counted for 23t) held 19 peruppliers the be all or most o
2012
22,000 37
11,700 20
6,800 11
6,400 11
5,200 8
2,600 4
2,000 3
1,500 2
58,200 100
previous estito 2009 were prior to 2008
nventories of ain ordering epes of trucks ut 9,500 units e no absolute
to the Client
ks. As shown 1,000 units ins in 2008. cent in five yeg more than 3to have rough other supplience of the imports its
ssan/TCM arneumatic tiredly 81 percent
single compant 38 percent o
3 percent of thcent. Nissan/
balance of aboof their mach
% 2013
7.8 25,800
0.1 12,900
1.7 8,100
1.0 7,600
8.9 6,000
4.5 2,800
3.4 2,400
2.6 1,900
0.0 67,500
imate of 5,700estimated at
8. Moving intomachines fro
excessive levein 2010 wereby 2011, 12,ways to know
11
ears. 30 hly ers
re the d and of
ny of he /TCM out ines
%
38.2
19.1
12.0
11.3
8.9
4.1
3.6
2.8
100.0
0
o om els of
e 000
w the
112
COMPONSUPPLY
NENT
Yengs
exact numbkeeping meports, but sfrom Mexic Imports of Europe. Clelectric trucin Mexico; hLiuGong’s mimported froHyster-Yale On the expAmerica, acthroughout Australia an
Exports of lestimated i2011. In 20annually, bindividual c
There are aAmerica. Wrespective s • Engine
sold easupplieMitsubiwe neeused byspecificof IC lifand du
• Transmpercentmanufatransmwas fou
t Associates © 2
ber of importsethods emplosome machineo.
most trucks clark, Doosan,cks from Korehowever, we machines areom China. Ine, and MCFA
port side, Mexccounting for the world. Ot
nd South Afric
lift trucks are n the range o012 and 2013ut we are not
companies to
a large numbeWe have electsourcing of co
es – Among thach year, our ers. The primishi, General
ed to add that y the OEMs. Wcation sheets ft truck engineal-fuel.
missions – Ptage of IC lift
acturing their issions are suund using ZF
2015 All Rights R
s each year bayed. Most imes come throu
come primaril and Hyunda
ea. We also seare unable to
e all imported n Europe, Jun
all import a c
xico is the big40 – 50 perc
ther strong mca are also im
difficult to traof 3,000 to 4,03, exports incrt certain that edivulge actua
er of suppliersted to show somponents w
hose OEMs wresearch uncary engine veMotors, Isuzuthere are a laWe have listefound at the
es are of the L
owershift trantrucks. Whileown gear boxupplied undertransmission
Reserved. Conte
ased on govemports arrive bugh Canada i
ly from Southai are the threeee lift trucks f
o confirm the from China.
ngheinrich, Mocertain level o
ggest market fcent of all U.Sarkets are fou
mportant.
ack. We estim000 units annreased to an export statistial export leve
s making andseveral of the where we coul
with the largescovered a totaendors for theu, Nissan, Cuarge number ed most of theend of this reLPG type, fol
nsmissions are several OExes, we are or private label
ns on its bigge
I
nts confidential
ernment recorby shipping frinto the U.S. v
h Korea, somee major impofor Clark comlevel of activiHeli machine
offett, Cargoteof machines a
for IC lift truckS. and Canadiund in other L
mate lift truck ually for the yestimated 4,0cs are accurals.
d selling fork ltop suppliers
ld gain the inf
st unit volumeal of 12 differee IC trucks weummins, and K
of IC engine e engine maneport. The larlowed by dies
re found on aMs take cred
of the opinion l from other ver heavy-duty
Equipment Anndustrial Lift T January
to the Client
rds and the rerom overseasvia truck, like
e from China,orters of IC anming from its p
ty from Mexices are also ec, Combilift,
annually.
ks outside of an exports Latin countrie
exports wereyears 2009 –000 to 5,000 uate and canno
ift trucks in Ns and their formation.
es of IC lift truent engine ere Perkins, Kubota. Howsuppliers bei
nufacturers in rgest percentasel, gasoline,
a very high it for that a numbe
vendors. Hystey machines.
alysis Trucks 2015
ecord s ewise
, and nd plant co.
North
es;
e
units ot get
North
ucks
wever, ng the
age CNG
er of er
Equipment AIndustrial LiftJanuary 2015
FIELD POPULAT
Analysis t Trucks 5
TION
Yengst
Table 9: InduComponent Major Manufacturers
Caterpillar (M
Clark MH
Crown
Doosan
Hyster ‐ Yale
Komatsu
Linde
Mitsubishi (M
Nissan‐TCM
Raymond (Toy Toyota Source: Compan
• Axles –
axles intruck axduring
• Electro
controlsin gainiin-hous
We work wpopulation There is nolike most ofederal jur
For years wtalking withwhich we laall lift trucksestimates ttrucks (all tytable is self
t Associates © 2
ustrial Lift TrucSuppliers to th
IC En
MCFA) Per
MitsuGeneral
PerMitsu
General
John
MitsuGeneralPerkins /MazdaGeneral
Perkins / Isu
Nissan / Volksw
Deutz /
MCFA) PerMitsuNissanMitsu
yota) NToyota
ny Information
– As was the n-house. Axlexles by severour survey.
onic Controlss used by OEing specific nase supply of e
ith estimated levels for the o census of off-highway misdiction.
we assumed t various indu
ater increaseds and includinhrough 2013 ypes) are wof-explanatory.
2015 All Rights R
cks he Major Man
ngines Elect
kins ubishi l Motors
C
kins ubishi l Motors
Deere Geubishi l Motors / Doosan / Isuzu l Motors Cummins
Ge
uzu Komatsu Ge
wagen / Perkins Gekins ubishi Ge
n Isuzu ubishi Na Gea / Hino
case with traeTech and Keral OEMs, wh
s – General EEMs. We knowames for the
electronic con
sales of lift trdifferent type
machines inmachinery a
that most lift tstry people thd to 17 years ng scrappageas shown berking in North.
Reserved. Conten
ufacturers
tronic Controls
Caterpillar
Na
Crown neral Electric
Na
neral Electric
neral Electric
Linde neral Electric
neral Electric
Hitachi
neral Electric Toyota
ansmissions, messler are alsoile Dana was
Electric is a mw there are otOEMs. Those
ntrols are MCF
rucks to deteres of trucks b the field at a
are not regist
trucks had a 1hat we were pon average.
e factors, we celow. We estimh America. Th
nts confidential
Transmissions
Caterpillar Mitsubishi
Carraro Dana
Crown
Doosan
Hyster‐Yale Dana
Komatsu
Linde
Caterpillar Mitsubishi
Nissan / TCM Mitsubishi
Na Toyota
many OEM’s o used for larg mentioned a
major supplier ther supplierse OEMs that FA, Crown, L
rmine the appeing sold in thany given timtered annual
15 year life, bprobably shor Using that lif
concluded themated that abhe breakdown
to the Client
Axles
MitsubisDana
Dana
Crown
Doosan
Hyster‐YaZF
Komats
Dana / Linde
MitsubisDana
Nissan / T
Na Toyota
claim to sourge capacity IC
a number of ti
of electronic s, but had diffclaim to provinde, and Toy
proximate he marketplame and lift trly in any sta
but found fromrt on our timinfe expectancye population bout 2.4 million shown in th
13
shi
n
n
ale
su
Kessler
shi
TCM
a
rce C lift mes
ficulty vide yota.
ce. ucks
ate or
m ng, y for
on lift he
114
FORECAS
ST
Yengs
Class 1 andthe total.
As for the pestimate ththe balancethough we approximat Our outlookfor several past five yevery low baeconomic rlevel of outcycle, and o
We anticipa2013 levelsnear the enperiod startwere madeweeks of th We see no2015 will bgrowth in swatch the pwith industrchanging.
Table 10: InEstimated FClass Type
Electric Class 1 – Coun Class 2 – Narr Class 3 – Palle Internal Comb Class 4 – Cush Class 5 – PneuTotal PopulatioCountry United States Canada Total PopulatioSource: Yengst
t Associates © 2
d 2 trucks and
population breat the U.S. ace of 11 percenrealize that sately 9 – 12 pe
k for the lift truyears. Yew, w
ears, as showase in 2009, wrecession durput and demaour outlook is
ate that 2014 s shown in thend of 2014, weting in 2014, r
e available. (Ihe publishing
o major fundabe a reasonabsales of aboupolitical and ery suppliers to
ndustrial Lift Trield Populatio
nterbalanced row Aisle et Trucks ustion hion Tire umatic Tire on
on Associates
2015 All Rights R
d IC Classes
eak in sales foccounts for ront. This ratio hales in Canad
ercent of total.
uck market atwe have had
wn earlier, but which was broing 2008 andand seen prios positive for m
results will bee following tabe felt it more rather than spn fact, we madate for this r
amental chanbly good yeat 8 – 10 perceconomic pico assess whe
rucksn through 201
Uni
1,387,00400,00289,00698,00960,00425,00535,00
2,347,00
2,090,00257,00
2,347,00
Reserved. Conte
4 and 5 acco
or the United oughly 89 perhas not changda vary each .
t this time is mbig percentagall of the imp
ought on by th 2009. We h
or to that founmost of the ne
e at least 9 –ble. While thimportant to cpeculate on fiay have the finreport.)
nges for the ar for the inducent above 20cture in Northether our proje
13 its %
00 59 00 17 00 12 00 30 00 41 00 18 00 23 00 100
00 89 00 11 00 100
I
nts confidential
This is theanalyzed ttrucks andbasic analmachines electric antrucks. Paaccount fosingle typeoverall poaccountingpercent ofthe field. W29 percenpopulation
ounted for abo
States versurcent of the toged over the year within a
more optimistge improvem
provements hhe financial faave nearly re
nd during the lext five years
10 percent bis report was concentrate onal 2014 resunal 2014 num
foreseeable ustrial truck m014 results.
h America anections are ho
Equipment Anndustrial Lift T January
to the Client
e first year wethe Class 3 pd used the salysis on theseas with the
nd IC ride-on allet trucks or the largest e of lift truck ipulation, g for roughly f all machinesWe found abo
nt of the total n coming fromout 41 percen
s Canada, weotal and Cana
years even small range
tic than it has ents during thave come froallout and ecovered to thlast economic
s.
better than thebeing prepar
on the forecasults before the
mbers within 4
future and bmanufacturersOf course, wd maintain coolding true or
alysis Trucks 2015
e have allet me
e
n the
30 s in out
m nt of
e ada
of
been he
om a
he c
e red st ey 4 – 6
elieve s with
we will ontact r need
Equipment AIndustrial LiftJanuary 2015
SUPPLIERSUMMAR
Analysis t Trucks 5
Table 1Project
(Units)
ProducElec ClaElec Cla IC (ClaITA Others Total Sales Elec ClaElec Cla IC (ClaITA Others Total
Source: Y
R RY
Yengst
11: Industrial Lted ITA and No
ction asses 1+2 ass 3 sses 4 + 5)
asses 1+2 ass 3 sses 4 + 5)
Yengst Associates
At this timeimproved dgrowth com2018. Our economies average growith cyclicaslowing trenconservativlikely to occour nationamachines.
We are assannual growrates to cheFederal Remonetary syears. Thedirection frorequires usgrowth in omany of thegrowth con
This sectionAmerican m
t Associates © 2
Lift Trucks on ‐ ITA Produ
2013
58,500 61,000 67,500
187,000 24,500
191,500 2
58,100 58,050 73,100
189,250 25,000
194,250 2projections
e, our projectioemand and h
ming through 2thinking behiin North Ame
owth of aboutal changes ocnd in demandve and reasoncur, although al economy m
suming that inwth during theeck that poss
eserve changisystem into bae uncertaintiesom the admins to re-evaluatverseas marke markets outditions at pre
n provides a bmarket, selling
2015 All Rights R
ction & Sales i
2014 20
64,000 69,066,000 72,076,000 83,0
206,000 224,05,000 5,5
211,000 229,5
63,300 68,063,500 69,079,700 86,9
206,500 222,95,600 6,1
212,100 229,0
ons through 2higher levels o2016, then levnd these saleerica (primarilt 3 percent an
ccurring theread, later droppinable projectiooutside issueoves and wh
nflation will coe next few yeible issue. Wng interest ra
alance from ths of interest ranistration and te our projectkets that impatside of Northsent, several
brief profile ofg Classes 1 /
Reserved. Conten
in North AmerForecast
015 2016
000 74,000000 75,000000 90,000000 239,000500 6,000500 245,000
000 72,000000 73,000900 92,000900 237,000100 6,500000 243,500
2018 are geneof output (proveling out in 2es and producly the U.S. ecnnually for theafter which wing modestly on in our opines are alwaysich will have a
ontinue to holdars and no se
We are modesates during 20he low interesate changes oCongress rel
tions frequentact exports froh America are
we expect w
f all industrial2 / 3 (electric
nts confidential
rica through 20
2017
74,000 75,000 90,000
239,000 6,000
245,000
72,000 73,000 92,000
237,000 6,500
243,500
erally positiveoduction) for th2017 and droction levels isconomy) will ce next two ye
will impact groin the fifth yenion, which ws possible thaan impact on
d at less thanerious need to
stly concerned015 and beyost rates imposon the upsidelative to needtly. We must om the manuf
e facing very swill continue th
l lift truck supc trucks) and
to the Client
018
2018 % G’13
70,000 72,000 85,000
227,000 5,500
232,500
69,000 70,000 86,000
225,000 6,000
231,000
e and showinghe industry, w
opping modess that the continue to shars through 2wth and creaar. This is a
we believe is mt can alter thedemand for t
n two (2) perco raise intered about the ond to bring thsed during rece and the lackded tax reform
also monitorfacturing sideslow economihrough 2015.
ppliers to the NClasses 4 / 5
15
Growth3 – ‘18
19.7 18.0 25.9 21.4 22.2 21.4
18.8 20.6 17.6 18.9 30.0 18.9
g with stly in
how 2016, ate a
more e way these
ent st
he cent k of ms still
e, as ic
North 5 (IC
116
MitsubishiCaterpillar
So
i r (MCFA)
Yengs
machines).‘major’ sup Table 12: InMajor Supp
Supplier
MCFA
Clark MH
Crown
Doosan
Hyster ‐ Yale
Komatsu
Linde
UniCarriers (Nissan/TCM)
Toyota
Raymond
ource: Yengst Asso
Mitsubishi Cbetween Mengaged inparts undercompany islift trucks, uavenues to
Caterpillar-locations thdistributed trucks availin Houston,
t Associates © 2
Yengst Assopliers, followe
ndustrial Lift plier Summar
ManufaLocat
HoustJap
South KMexico/ L
KOhio (4 loGreenca
Kinston, NGermany
South Kor
BereGreenv
Italy
Newberry,
SummerUK / Ge
MarenW. Colum
Jap
ColumJap
GreenMuscat
ociates / Company
Caterpillar Noitsubishi Hea the manufacr the Mitsubiss headquarterupgrading its p compete.
branded machroughout Noby approximalable in North, Texas.
2015 All Rights R
ociates initialled by a brief d
Trucks ry acturing ion(s) 1
on, TX pan
Korea / Lexington, KY
1 / 2
ocations)astle, IN C / China / / Mexico
ea / China
a, KY ville, NC / UK
SC / Japan
rville, SC ermany
ngo, IL,mbia, SC pan
bus, IN pan
ne, NY tine, IA
y Information
orth America, vy Industries,
cture and distrshi Forklift andred in Houstoproduct line a
chines are disrth America aately 200 dea America are
Reserved. Conte
ly takes a modescription of
Class1 / 2 / 3 /
4 / 5
1 / 2 / 3 / 4 / 5
2 / 3 / 4 / 5
1 / 2 / 3 4 / 5
1 / 4 / 5
1 / 2 / 3 / 4 / 5
1 / 2 / 4 / 5
1 / 2 / 3 / 4 / 5
1 / 2 / 3 / 4 / 5
1 / 2 / 3 / 4 / 5
1 / 2 / 3
Inc. (MCFA) , Ltd. and Catribution of mad Cat® Lift Tr
on, Texas. MCannually and c
stributed by apand Latin Amealer outlets. Me manufacture
I
nts confidential
ore in-depth lof all other com
Electric Capacity Range (lbs.)
3,000 ‐ 12,000
3,000 ‐ 16,500
3,000 – 6,000
2,500 – 10,000
2,000 – 12,000
3,000 – 6,500
3,000 – 10,000
3,000 – 8,000
3,000 – 12,000
2,000 ‐ 8,000
is a privatelyterpillar Indusaterial handlinruck brand naCFA is a domconstantly loo
pproximately erica. Mitsubi
Most Cat and Med and distribu
Equipment Anndustrial Lift T January
to the Client
ook at the mampetitors.
ICCapacity Ra
(lbs.)
3,000 – 35,0
2,500 – 18,0
4,000 – 6,5
3,000 ‐ 33,0
2,500 – 105,
3,000 – 35,0
3,000 – 40,0
3,000 – 22,0
3,000 – 51,0
NA
y held joint venstrial Inc. MCFng equipmentames. The minant supplieoking for new
400 dealer shi trucks areMitsubishi lift uted from the
alysis Trucks 2015
arket’s
nge
000
000
500
000
,000
000
000
000
000
nture FA is t and
er of
e
e plant
Equipment AIndustrial LiftJanuary 2015
Crown Equ
Analysis t Trucks 5
uipment
Yengst
In August 2which JungMCFA dealJungheinricCanada anproduction
The Mitsubrespects, aJungheinricand Mitsub MCFA withtruck markeJungheinricposition fropenetration17 percent companies Crown Equin Bremen, America anscale. The different maknown for itneeds in-hoChina, Rod
Crown ownindependensupports mlocations anPacific regi
Crown entehad reachetrucks in Noagreement Material HaMeanwhile,line with boJohn Deeremodels andto our unde(both Crowoverall indu
t Associates © 2
2009, MCFA rgheinrich lift trler network anch branded trud Mexico). Thof Jungheinri
bishi product llthough the M
ch offers Clasishi lines nice
Jungheinrichet compared tch. For Classm less than 2
n today. On thof the marketfor both Clas
ipment CorpoOhio. Crown
nd consideredcompany maanufacturing lts vertical inteouse. Overseding Germany
ns close to 50nt dealer locaore than 40 innd supports aon.
ered the IC lifted a branding orth Americawith Komatsu
andling to pro, Crown introd
oth pneumatice diesel engind five pneumaerstanding, bun-made and H
ustry market s
2015 All Rights R
reached an agrucks would bnd which MCucks in Housthe agreementch trucks beg
ine mirrors thMitsubishi liness 1, 2, and 3 ely.
h accounts forto 5 – 6 perces 3 trucks, Jun2 percent of thhe IC side, Cat, Caterpillar b
ss 4 and 5 tru
oration is priv is the leading
d one of the lenufactures a locations withegration manueas, the compy, and Queret
dealer locatioations in the Undependent da number of in
t truck producagreement wthrough Crowu ended at thvide the Hamduced its ownc and cushionnes. The Hamatic tired macut Crown has Hamech trucksince 2012.
Reserved. Conten
greement witbe distributed FA would maton for distribt went into effgan about the
he Caterpillar e includes nar
trucks, which
r about 9 – 10ent in 2010 prngheinrich hahe market to aaterpillar andbeing the mocks.
vately owned cg brand of ele
eading suppliewide selectio
hin the Unitedufacturing a hpany has manaro, Mexico.
ons and suppUnited States;distributors inndependent d
ct area in 200with Komatsu wn dealers une end of 201
mech line of prn in-house den tired modelsmech line, whhines, has bedeveloped m
ks) accountin
nts confidential
h Jungheinricin North Ame
anufacture a nution in Northfect January 2
e second quar
lift truck prodrrow aisle Clah complemen
0 percent of trior to the agras increased tabout 8 perce Mitsubishi tore dominant s
company andectric lift truckers of electric
on of electric ld States. The high portion onufacturing si
ports more tha owns 19 dist Europe and
dealer location
08 when it annForklift USA
nder the Ham1, and Crownroducts, whic
eveloped C-5 s available anhich consists oeen slow to de
modest sales fng for about 1
to the Client
ch of Germanerica through number of h America (U.2010 and rter of 2010.
duct line in maass 2 trucks. t the Caterpil
he Class 1 +2reement with the MCFA maent market ogether hold asupplier of the
d is headquarks in North c trucks on a gift trucks in elcompany is
of its componetes in Suzhou
an 100 tributors and owns 33 deans in the Asia
nounced that to distribute Iech name; th
n turned to Clach continues tmodel IC lift td powered byof 2 cushion tevelop for Crofor its IC mac– 2 percent o
17
y in the
.S.,
any
lar
2
arket
about e two
rtered
global leven
ent u,
ler a
it IC lift e ark oday. truck y tired own hines of the
118
Doosan
Hyster ‐ Yaale
Yengs
On the elecand 2 electunits in 200has held ropast five ye“walkie” trumarket bas
Doosan InfDivision nethroughout sales and sconsists of Class 3 wasince our la All of Doosafour-wheelenarrow aislecompany’s tires and ca Doosan is nof the markmuch stronindustry saa much sm Hyster - Yalargest in thoff from NAlocations inMexico, andworking in rdealer locaHyster – YaheadquarteIn 2011, thewhich is als Hyster – Yalift capacitiedates back machines foabout 23 pemachines, t
t Associates © 2
ctric truck sidetric ride-on lift09, the low yeoughly 25 percears, based ocks, where w
sed on recent
racore is heaar Cleveland,North Americ
service locatioelectric and Ilk-behind mo
ast report.
an’s electric med machines e line consistIC product lin
apacities rang
not strong in iket, while Clasger in the Clales. All of Doaller number
ale Materials Hhe world. ThACCO Industrn the US, the d Australia. Troughly 100 ctions selling tale corporate ers for NMHGe company inso manufactu
ale offer truckes ranging frodecades and
or over 50 yeercent of all ethe combinat
2015 All Rights R
e, Crown’s satrucks in Nor
ear for sales dcent of the ovn our analysis
we estimate thindustry sale
dquartered in, Ohio, with oca. DIA lift truons in the U.SC machines rdels, which w
models are siavailable rangts of two modene is extensivging from 3,00
its Class 1 anss 3 truck penasses 4 and 5oosan’s mach
from China.
Handling is a he company, ries, has manUnited Kingdo
The company countries. In the Yale, Hysoffice is locat (NACCO Matroduced a nered and sold
ks in all lift trucom 2,000 poud has always ears. In Classelectric trucks ion holds abo
Reserved. Conte
ales in 2013 torth America, uduring the pasverall Class 1 s. Crown is a
hat it accountses.
n Suwanee, Goffices and tecuck dealers opS. and Canadride-on trucks
were added to
t-down, with aging from 2,5els rated from
ve and include00 to 36,000
nd 2 lift trucksnetration is ni5 machines, rines are impo
publicly owneformed in Seufacturing siteom, Brazil, thhas a vast glNorth Americ
ster, and UTILted in Clevela
aterials Handlew brand of tthrough NMH
ck types fromnds to 100,00been one of t
ses 1 and 2, Hsold in North
out 25 percen
I
nts confidential
otaled roughlyup from an esst five years. and 2 lift truclso strong in s for about 33
GA and maintachnical servicperate throug
da. The lift trus (Classes 1, o the company
a number of t500 to 10,000 m 3,500 to 4,0es both cushipounds.
s, accounting il at best. Therepresenting aorted, most fr
ed lift truck sueptember 201es around the
he Netherlandlobal networkca, there are aLEV lift truck band, OH; howling Group) istrucks, knownHG.
m Class 1 to C00 pounds. Tthe leading suHyster and Yah America. Font market shar
Equipment Anndustrial Lift T January
to the Client
y 14,700 Classtimated 7,90 The compan
ck markets foClass 3 elect
3 percent of th
ains its Lift Trce centers h more than 2
uck product lin2, 4, and 5) ay’s product lin
three-wheeledlb range. The
000 pounds. on and pneum
for 1 – 2 perce company isabout 5 perceom South Ko
upplier, one o2 following a e world with ds, Japan, Italk of dealers approximatelybrands. The
wever, the s in Greenvillen as UTILEV,
Class 5, coverThe company uppliers of theale account foor Class 3 re; in Classes
alysis Trucks 2015
ss 1 0 ny r the ric hat
ruck
200 ne and ne
d and e The matic
cent s ent of orea,
of the spin-
ly,
y 220
e, NC.
ring ese or
s 4
Equipment AIndustrial LiftJanuary 2015
Komatsu F
Linde MateHandling
Analysis t Trucks 5
Forklift
erial
Yengst
and 5 the cpenetrationwhich consone three-wmaterial difconcept of – Yale and We should small fuel cexpected toHyster-Yalecompany isbeen set fo Komatsu Fomanufacturabout five yMeadows, three Classnot offer Clproduct linewell. The compaKomatsu brin July 2010in Georgia,drop the Tu Komatsu is3 – 4 percemarket for Kindustry. Bcompany habove, the its sales co
Linde Matein Summervmanufacturline throughof the machSummervill
We estimatNorth Amer
t Associates © 2
company is alsn based on 20sists of two ICwheel electricfference in theoffering inexpwill be tested
note that thatcell manufactuo commerciale in coming yes expected to or that possibi
orklift U.S.A.ring and prodyears ago fromIL. The comps 2 models, anass 3 “walkiee in South Ca
any for many yrand and the 0. Komatsu h but the whole
usk brand.
s a supplier inent of industryKomatsu, but
Both cushion aas nearly equcompany imp
ome from truc
erial Handling ville, South Crers of lift truch a nationwidehines sold in Ne, although s
te that Linde srica in 2013, a
2015 All Rights R
so very comp013 industry s
C models rated model rated e company’s pensive and sd over time.
t Hyster-Yaleurer, Nuvera Fize the use ofears. No timeoffer electric lity.
is a division ouct support om Georgia. Tpany offers linnd Class 4 an
e” lift trucks. Karolina, but im
years marketeTusk brand.
had manufacte process bec
the electric liy sales in recet market peneand pneumatiual sales in boports some mks produced
North AmericCarolina. Lindcks in the wore dealer netwNorth Americ
some machine
sold about 2,3accounting fo
Reserved. Conten
petitive with rosales. The add from 5,000 3,000 to 4,00lift truck positsimply-design
e’s operating cFuel Cells, Inf fuel cells in e line has beelift trucks wit
of Komatsu Loperations in Nhe company’sne up of sit-dond Class 5 ma
Komatsu prodmports a portio
ed two brandIt discontinue
tured the Tuscame unecon
ift truck markeent years. Theetration is aboic tire IC lift troth types of m
models from Jain its South C
ca, part of Linde AG is consrld. The compwork that totalca are producees are importe
300 units of itor about 3 per
nts confidential
oughly 25 perddition of the to 6,000 lbs l
00 lbs, has notion from our ned machines
company NMnc., Billerica, Melectric lift truen establisheh fuel cells, b
td. Komatsu Newberry, SCs headquarteown electric machines. The uces the larg
on of its need
ds of lift trucksed the Tusk b
sk brand of liftnomic, forcing
et, accountinge IC market isout 4 percent rucks are offemachines. Aapan, with the
Carolina facilit
nde AG of Gesidered one ofpany sells its ls about 200. ed in the comed annually.
ts Class 4 anrcent market p
to the Client
rcent market UTILEV branift capacity an
ot yet made astandpoint, b
s is new for Hy
HG acquired MA which is ucks offered bed on when thbut the stage h
Forklift U.S.AC, moved therers are in Rollmodels (Classcompany doeest portion ofs from Japan
s – namely itsbrand of macht trucks at its g the decision
g for an estims a bigger volrelative to the
ered and the s mentioned e largest portty.
rmany, is locaf the largest lift truck prodThe large ma
mpany’s factor
d 5 IC trucks penetration fo
19
d, nd
a but the yster
a
by he has
A. has re ing s 1), es f its as
s hines plant
n to
mated lume e
ion of
ated
duct ajority ry in
in or
220
UniCarrier
Raymond
s Americas
Yengs
those two caccounts fotrucks. TheNorth Amercompany soare mostly Germany. range of 1 – Nissan ForCorporationHoldings inNissan, Baapproximatlocations. B The compaThe IC line from 3,000 3,000 to 11lift capacity
UniCarriersthe Barrett (all three brtrucks sold trucks (Clasopinion for recent year Raymond Celectric lift tRaymond himports somMarch 2010manufacturwhere ClasConcepts Ccompany’s Raymond’sdecades. Brepresentedapproximatthe companmarket in re
t Associates © 2
classes of trucor 1 – 2 percee company herica for severaources a largshipped to thLinde has a s– 2 percent.
klift and TCMn in April 2013 Tokyo, Japarrett, Atlet, TCtely 140 dealeBarrett walkie
any offers all tof cushion mto 8,000 pou,000 pounds.
y and the walk
s (TCM, Nissabrand name, rands) machinin North Ame
sses 1 and 2)2013; IC trucrs.
Corporation, otruck manufachas two manume machines 0 to consolidaring facility in ss 3 lift trucks Corporation pcustomers.
s focus on eleBased on our ad about 33 petely 10 percenny is a strongecent years.
2015 All Rights R
cks. On the eent of the overeld a 3 percenal years, but te portion of ite company insmall share in
M America me3. UniCarrier
an, the parent CM, and UniCer locations, wtrucks are pr
types of indusmachines (Niss
nds, while the. Electric ridekie trucks hav
an, and Barreas well as th
nes account ferica based o), UniCarriersck market sha
owned by Toycturer, markeufacturing faci
from Italy. Tate productionGreene, NY. are producedrovides sales
ectric trucks Canalysis of thercent of Clasnt of the Class competitor w
Reserved. Conte
electric side, wrall market, m
nt market shathat has erodts parts and cn South Caroln the Class 3
rged to form rs Americas iscompany. T
Carriers. Thewhile the TCMrimarily sold t
strial trucks bosan and TCMe pneumatic-tr trucks range
ve capacities
ett) produces ae Nissan andfor an estimat
on 2013 induss held a 3 – 4 are for UniCar
yota Material eting its produilities in the d
The company n of its narrowA second pla
d. In North As and services
Classes 1, 2 ahe marketplacss 2 truck sales 1 sit-down t
with about rou
I
nts confidential
we estimate tmost of that wre in the elect
ded in our opincomponents frlina from the trucks from o
UniCarriers As a division of
The company Nissan brand
M line is coverhrough Nissa
oth IC and eleM) has lift captired machinee from 3,000 of 4,400 to 8,
and sells Clasd TCM namested 5+ percen
stry sales. Forpercent mark
rriers is rough
Handling, is aucts on a globomestic markclosed a plan
w aisle machiant is located
America, Rayms for a high po
and 3 has covce for 2013, Res in North Amtrucks sold. I
ughly 15 - 16 p
Equipment Anndustrial Lift T January
to the Client
the company eighted to Clatric truck marnion. The rom Europe, wparent compa
our analysis, i
Americas f UniCarriers has five brand is sold throured by about
an dealers.
ectric versionacities rangines range fromto 8,000 poun,000 pounds.
ss 3 trucks uns. The compant of the Clasr electric ride-ket position inhly 8 - 9 perce
a well-known bal scale. ket, but also nt in Canada nes in its primin Muscatine
mond Handlinortion of the
vered several Raymond by itmerica and hIn Class 3 trupercent of the
alysis Trucks 2015
ass 1 rket in
which any in n the
nds – ugh 175
ns. ng m
nds
nder any’s s 3 -on n our ent in
in mary e, IA ng
tself eld cks, e
Equipment AIndustrial LiftJanuary 2015
Toyota
Analysis t Trucks 5
Yengst
Toyota is thconsideringcovers all fithrough 5). manufacturmachines afactory in Inin North AmU.S. and C
For the elecmachines wtrucks, bothranging up is capable o
Toyota accpercent of tshares havToyota is ecompany’s share in thaaccounts (e
When comboverall has Class 3 manot hold thesecond and
t Associates © 2
he largest supg its combinedive of the cate The compan
ring plant in Cannually. Heandiana. Theremerica, with aanada.
ctric truck prowith lift capach cushion andto 15,500 poof lifting up to
ounted for 37the pneumatice not varied mstimated to hposition in C
at particular mexcluding Ray
bining Toyotathe lead or s
achines remaie lead positiod only by a sm
2015 All Rights R
pplier of lift trud ownership oegories of trucny manufactu
Columbus, Indadquarters fore are 73 authopproximately
oduct line, Toyities ranging f
d pneumatic tunds lift capa
o 55,000 poun
7 - 38 percentc tired IC trucmuch in recenave close to 2lass 2 machin
market segmeymond’s posit
a’s results withecond position the one segn when includ
mall margin.
Reserved. Conten
ucks in North of Raymond. cks discussed
urers most of diana, althougr Toyota Mateorized Toyota225 dealersh
yota has bothfrom 3,000 toired, Toyota o
acity; while thends.
t of the cushiocks sold in 20nt years. In C20 percent ofnes is weak hent. In Class tion) about 10
h those of Raon in all but ongment of the ding Raymon
nts confidential
America, par The compand in this repoits Toyota bragh Toyota doeerial Handlinga industrial eqhip locations t
h cushion ando 12,000 pounoffers its cushe pneumatic t
on tire IC truc13. The com
Class 1 sit-dowf the market, ahaving less th3 trucks, the 0 percent of th
aymond it is cne industrial lmarket todayd’s sales, how
to the Client
rticularly whenny’s product lirt (Classes 1 and trucks at es import som is located at
quipment deathroughout th
d pneumatic tnds. For the IChion tire machtired product
cks and roughmpany market wn electric trualthough the an 5 percent company he market.
clear that Toyolift truck segmy that Toyota dwever, comes
21
n ne
its me
the lers
he
ired C hines line
hly 30
ucks,
ota ment. does s in
222
Table 13: Ind
Supplier
Big Lift
Rico Equipment
Elwell‐Parker
Heli Americas
Hoist Liftruck
Hyundai
Jungheinrich (MCFA)
Landoll Corp.
Aisle‐Master, L
dustrial Lift Tru
Manufact Locatio
Dells, WI
Medina, OH
Coraopolis,
China
Bedford Pa
South Kore
Germany Houston, TX
Marysville,
Ltd Ireland
Yengs
ucks | Summar
turing on(s)
Class 1 / 2 / 3 4 / 5
3
H 1 / 2 / 4 / 5
PA 1 / 4 /
1 / 3 / 4
rk, IL 1 / 4 /
a 1 / 4 /
X 1 / 2 /
KS 2 / 5
2 / 4
t Associates © 2
ry of Other Su
3/
Based in Lomsince 1950. New ownersincluding palProducts arewith a Maste
EP Equipm
3 Company offCustomer baare made thrautomotive a
5
H & K Equipmlift capacitieindustrial clesells forklifts
/ 5
Heli Americaseveral modecategory of wtired machinimported fro
5
Headquarterranging fromU.S. Govt. Docomponents2013.
5
Hyundai has marketed byThe compansold about 1units. The la
3
JungheinrichNorth Ameri(MCFA) effecJungheinrichJungheinrichbegan in Ma1,500 units, apercent of th
Landoll offercompany selexports 15 ‐estimated at
Capacities upthrough indeElectric and
2015 All Rights R
ppliers
mbard, IL. Has moLift capacities of its bought the compllet trucks, stackere sold through rouger Distributor in Cament USA (Chinese
fers specialty electase includes users rough about 60 prand steel industrie
ment purchased Es ranging from 15,eaning equipment s made by Nissan,
as is based in Memels of its electric swalkie lift trucks. nes, with lift capacom China.
red in Bedford Parm 15,000 to 115,00omestic sales mad are sourced in‐ho
been selling lift try Hyundai Construcy offers both elect,000 to 1,300 unitargest portion of sa
h Lift Truck Corp., Ucan business throctive 1 January 20h products in Northh for the North Amrch 2010. The comabout 3 percent ohe industry sales, w
rs Bendi, Drexel anls products throug20% of its annual t roughly 300 units
p to 4,400 lbs. Speependent dealers iLPG power availab
Reserved. Conte
Commen
re than 200 dealets qualifying Class pany in 2009 and itrs, and order pickeghly 200 independanada. A new diste supplier) has bee
tric and IC sit‐dowin the industrial, crimary dealers, wites.
lwell‐Parker from ,000 to 100,000 lb distributor locateTaylor, and Koma
mphis, TN and was it‐down lift trucksOn the IC side, Hecities ranging from
rk, IL. All products00 lbs. The compade through indepeouse. Sales volum
rucks in North Amction Equipment Atric and IC sit‐dowts annually except ales is made in the
USA started in 200ugh agreements w10 in which MCFAh America, also prmerican market. Prmpany had estimaof industry sales. Iwhich has greatly
nd Landoll brandedgh a dealer netwoproduction – prims annually.
ecialty narrow‐aislin North America.ble.
I
nts confidential
nts
rs in North Americ3 models range frt is now called Bigers sold under thedent dealer locatiotribution strategicen set.
wn lift trucks ratedcommercial and mth its strongest cu
Hoist Liftruck in ebs. H&K is a matered in Coraopolis, Ptsu.
started in 2007. Ts (Class 1 and one eli provides both cm 2,000 to 22,000 l
s are specialty highany has overseas sendent dealers. A mes are estimated
erica for a numbeAmericas, Inc. locawn machines. The in 2009 when salee IC product line.
00. In late 2009, twith Mitsubishi CaA became the excluroducing equipmeroduction of someated Class 1 and 2 n Class 3 sales, theassisted MCFA in
d narrow aisle eleork of about 100 lomarily to Europe. S
e machines impor Sales range from
Equipment Anndustrial Lift T January
to the Client
ca. Has been in burom 2,000 to 4,500g Lift LLC. Products Big Joe brand namons in North Amerc partnership with
20,000 to 40,000 military markets. Sstomers in the
early 2010. Trucks rial handling and PA. The company
The company offermodel in the Classushion and pneumbs. All machines a
h‐capacity lift macsales and is selling high portion of in the 400 unit ran
er of years. The truated in Suwanee, Gcompany typicallyes dropped to abo
he company realigaterpillar Forklift Ausive distributor ont developed by e models in Houstolift truck sales in 2e company holds athis market segme
ctric and IC forklifocations. The comSales of all brands
rted from Ireland. m 25 – 50 units ann
alysis Trucks 2015
usiness 0 lbs. s me. rica
lbs. Sales
have
also
rs s 3 matic are
chines to the
nge for
ucks are GA. y has out 500
gned its America of
on 2013 of about 6 ent.
fts. The mpany are
Sold nually.
Equipment AIndustrial LiftJanuary 2015
Table 13: Ind
Supplier
E‐P Equipment
Manitex Liftkin (Lowry)
Royal Tractor
Schaeff (Manitex)
Sichelschmidt
Tailift
Taylor Machine Works
World‐Lift
Combilift
Source: Yen
Analysis t Trucks 5
ustrial Lift Tru
Manufact Locatio
t Inman, SC
ng WoodbridgCanada
Olathe, KS
Bridgeview,
Germany
Taiwan
e Louisville, M
Taiwan
Greensboro
gst Associates / Co
Yengst
ucks | Summar
turing on(s)
Class 1 / 2 / 34 / 5
1 / 3 / 4
e, ON 4
1 / 4 / 5
, IL 1 / 2
1 / 3
1 / 3 / 4
MS 4 / 5
1 / 4 / 5
o, NC 1 / 2 / 4
ompany Informati
t Associates © 2
ry of Other Sup
3 /
/ 5 E‐P started smanufacturetrucks and st
Lowry is partheavy duty liindustrial apEstimated an
5 IC and electrunderstandin
Schaeff, a divonly. Sales aoverseas saleDomestic sal
Sichelschmiddistributed ththe U.S. SichNorth Americ
/ 5
Introduced torepresented located in Ft.ranging from(articulated) estimated atagreement inexpansion anthe lift truckuntil 2020.
IC cushion tirtrucks are offindependent300 – 400 un
5
Like Tailift, thLauderdale, Fcushion and machines. D
/ 5
Global headqLong‐load hainclude IC anand electric asales estimat
ion
2015 All Rights R
ppliers
elling lift trucks ines and imports all tackers. We estima
t of Manitex Liftkinft trucks ranging iplications. Sales annual sales are rou
ic lift trucks used ing. Lift truck sale
vision of Manitex Ire made through es also made in soes are believed to
dt focuses primarilhrough Repara Lifthelschmidt machinca is < 25 units.
o the North Ameriin North America . Lauderdale, FL w
m 3,000 to 22,000 lforklifts are also p 300 – 400 units an April 2014 in whnd marketing of th business will occ
re lift trucks with lfered from 16,000t dealers. Exports anits annually durin
his company is repFL. with 120 dealepneumatic tire lift
Domestic sales are
quarters for Combandling market is tnd electric trucks. Lavailable. Sales thted at 400 – 700 u
Reserved. Conten
Commen
n the US in 2002. Tmachines from Chate sales of about
ng. The Lowry bran lift capacity fromare made through ughly 300 units.
in special applicats are quite low in
International, offean extensive deal
ome Latin Americao be in the 300 uni
y on ‘Explosion Prft Express in Quebenes cover lift capac
ican market in lateby Worldwide Wh
with over 100 dealelbs. Tailift manufapart of the Tailift lnnually. Tailift anhich Toyota will inhe Tailift product ur before 2020, a
lift capacities of 180‐ to 120,000‐lbs. a high portion of pg the past three y
presented by Worlers in the U.S. and t trucks, as well asestimated to be 1
bilift in Ireland. Spethe specialty of theLift capacities ranghrough independenits annually in re
nts confidential
nts
The company, heahina. Most sales art 150 ‐ 200 units an
and lineup has 7 mm 18,000 to 45,000independent dea
tions. The compaour opinion.
ers stand‐up and ser network in Norn countries, Austrt range based on
roof” market appliec, Canada. Compcities of 2,500‐6,6
e‐1996. Tailift witholesale Forklifts, er locations. Tailiftctures forklifts in Tine of machines. Sd Toyota Industrinvest in Tailift andline of machines.nd Tailift will cont
8,000‐ to 30,000‐lPrivately held comproduction. Domeyears.
ldwide WholesaleCanada. The prods a limited lineup o100 to 150 units an
ecialty lift trucks ae company’s prodge from 5,000 to 5nt dealers in Nortecent years.
to the Client
adquartered in Chire Class 3 electric nnually in recent y
models of IC cushio0 lbs used in heavlers in North Ame
ny is in bankruptc
it down electric trrth America, with ralia, and Algeria. 2013 sales estima
ications. Trucks arpany is not market00 lbs. Annual vo
th electric and IC ta master distributt trucks have lift caTaiwan since 1987Sales of all trucks es Corp. (TICO) sigd assist in product. No formal takeotinue operating as
bs. Pneumatic tirempany. Sells throuestic sales estimat
Forklifts of Fort duct line includes of electric sit‐downnnually at best.
are imported fromuct line. Machine55,000 lbs. LP gas, h America. Domes
23
ina, pallet years.
on tire vy rica.
y to our
rucks
tes.
re ting in lume in
rucks is tor apacities7. Flexi are gned an t over of s it is
e IC ugh ted at
IC n
there. es diesel stic
224
Table 14: Ind Big Lift, LLC 1060 N. GarfLombard, IL 6(630) 916‐26www.bigjoef Crown Equip44 S. WashinNew Bremen(419) 629‐23www.crown. Heli America2005 FletcheMemphis, TN901‐255–073www.heliam Hyundai ConAmericas 6100 AtlanticNorcross, GA678‐823‐777www.hceam Komatsu ForOne ContineRolling Mead847‐437‐580www.komats Manitex Liftk7135 IslingtoWoodbridge,(905) 851‐39www.manite Schaeff Lift T7402 W. 100Bridgeview, I(708) 430‐53www.schaeff Landoll Corp1900 North SMarysville, K(785) 562‐53www.landoll ProfessionalSteinbock Bo6932 HanginOrlando, FL 407‐677‐004www.pmh‐co
dustrial Lift Tru
field Street 60148 600 forklifts.com
pment Corp. ngton St. n, OH 45869 311 .com
as er Creek Dr. N 38133 35 ericas.com
nstruction Equip
c Blvd. A 30071 77 ericas.com
rklift (USA) Inc. nt Towers dows, IL 60008 00 suamerica.com
king ULC on, Ave. , ON L4L1V9 Can988 exliftking.com
Truck, Inc. (Man Place Illinois 60455 300 finc.net
poration Street KS 66508 381 .com
Materials Handoss Lift Trucks g Moss Rd.
40 o.com
Yengs
ucks – Manufa C7L(w D4W(w H6BPw
pment M2N(w L2S(w
nada
N2M(w
nitex) T6L(w K1C2w
dling Co. T1R(w
t Associates © 2
acturer Addres
Clark Material H700 Enterprise DLexington, KY 40859) 422‐6400www.clarkmhc.c
Doosan Infracor4350 RenaissancWarrensville Hei216) 595‐1212www.doosanlift.
Hoist Liftruck Mf6499 W. 65th St.Bedford Park, ILPhone 708.458.2www.hoistlift.co
MCFA Jungheinr2121 West Sam HNorth Houston, T713) 365‐1000www.jungheinric
Linde Material H2450 West 5th NoSummerville, SC 843) 875‐8000www.lmh‐na.com
Nissan by Unicar240 N. Prospect Marengo, IL 601815) 568‐0061www.nissanfork
Taylor Machine 650 North ChurcLouisville, MS 39662) 773‐3421www.taylorbigre
Kalmar USA 103 Guadalupe DCibolo, TX 78108210‐599‐6541 www.kalmarind.
Tailift USA 11778 San MarinRancho Cucamon909) 930‐9801www.tailift.com/
2015 All Rights R
ses
Handling CompaDr. 0510
com
e ce Pkwy ghts, OH 44128
com
fg., Inc.
60638 2200 om
rich Houston Pkwy TX 77043
ch.com
Handling North Aorth St. 29483
m
rriers AmericasSt. 52
lift.com
Works, Inc. ch Avenue 9339
ed.com
Drive 8
com
no Street nga, CA 91730
/usa2
Reserved. Conte
ny Hyst1400Gree800‐www
RaymPO BGree(607www
TCM107 Wes803‐www
Yale1400Gree(252www
America Toyo5559Colu812‐www
Wor2810Ft. La(954www
Chris7399Long228‐www
Princ415 Otta800‐www
UTIL1400Gree252‐www
I
nts confidential
ter Company 0 Sullivan Drive enville, NC 27834‐497‐8371 w.hysterusa.com
mond Corp. Box 130 ene, New York 17) 656‐2311 w.raymondcorp.
M America, Inc. bMcQueen Streest Columbia, SC 2‐791‐5205 w.tcmforklifts.co
Materials Hand0 Sullivan Drive enville, NC 278342) 931‐5100 w.yale.com
ota Material Han9 Inwood Dr. umbus, OH 4720‐341‐3810 w.toyotaforklift.c
rldwide Wholesa0 SW 2nd. Avenuauderdale, FL 334) 768‐9875 w.worldwidefork
sman Manufact9 Beatline Road g Beach, MS 395‐864‐6293 w.navigatorforkl
ceton Delivery SE. Dundee St. wa, KS 66067 ‐331‐5851 w.piggy‐back.com
LEV 0 Sullivan Drive enville, NC 27834‐931‐5100 w.northamerica.
Equipment Anndustrial Lift T January
to the Client
4
m
3778
com
by Unicarriers t 29172
om
dling Corp.
4
ndling USA, Inc.
1
com
ale Forklifts e 3155
klifts.com
turing, Inc.
560
ift.com
Systems, Inc.
m
4
.utilev.com
alysis Trucks 2015
.
Equipment AIndustrial LiftJanuary 2015
Table 14: In
HAMECH 40 South WaNew Bremen419‐629‐231www.crown. EP Equipmen1770 CamptoInman, SC 29864‐472‐277www.epequi
Source: Compan
Table 15: IndElectric Coun
Manufacturer
Big Joe Bendi (LandolCaterpillar (MClark MH Crown Doosan Drexel (LandoElwell‐Parker Heli Americas Hyster‐Yale Hyundai Jungheinrich (Kalmar Komatsu Landoll Linde Mitsubishi (MNissan Raymond (ToySchaeff (ManiTailift TCM Toyota World Lift
Source: Compan
Analysis t Trucks 5
ndustrial Lift T
ashington, Streetn, OH 45869 11 .com
nt USA on Rd. 9349 76 ipmentusa.com ny Information
dustrial Lift Trunterbalanced a
r
l) CFA)
ll)
(MCFA)
CFA)
yota) tex)
ny Information
Yengst
rucks – Manuf
t
M2N7w
C3G8w
uck Specificatioand Narrow Isl
Cla
‐2211
4
21
1
11
41
2
t Associates © 2
facturer Addre
Mitsubishi Cater2121 Sam HoustNorth Houston, T713‐365‐1000 www.mitforklift.
Combilift USA 303 Concord StreGreensboro, NC 877‐266‐2456 www.combilift.c
ons le (Classes 1 an
Number of M
ass 1 1 ‐‐ 20 20 19 19 2 4 2 29 10 5 8 11 6 14 15 2 4 14 7 20 6
2015 All Rights R
esses (continue
rpillar Forklift Aon Pkwy TX 77043
.com
eet 27406
om
nd 2) Models
Class 21 5 14 5 5 2 8 ‐‐ ‐‐ 20 ‐ 9 8 3 2 16 13 5 11 15 0 ‐ 10 ‐‐
Reserved. Conten
ed)
America LIFT 5975Miss905‐www
nts confidential
RITE, Inc. 5 Falbourne Stresissauga, ON L5R‐546‐2603 w.liftrite.com
Capacity (lbs
1,000 – 33,000 – 53,000 – 12,500 ‐63,000 – 62,500 – 13,000 – 1
‐ 22,04,000 – 52,000 – 13,000 – 61,900 – 13,000 – 63,000 – 62,500 – 33,000 – 13,000 – 63,000 – 83,000 – 82,500 – 13,000 – 63,000 – 83,000 – 13,000 – 6
to the Client
eet, Unit # 3 R 3L8 Canada
Range )
3,500 5,500 12,000 6,500 6,000 10,000 12,000 000 5,000 12,000 6,500 11,000 6,000 6,500 3,000 10,000 6,000 8,000 8.000 12,000 6,000 8,000 12,000 6,000
25
226
Table 16: IndElectric Walk
Manufacturer
Big Joe Barrett (UniCaClark MH Crown Doosan Heli Americas Hyster Jungheinrich (Linde Mitsubishi (MNissan (UniCaRaymond (ToyTailift TCM (UniCarriToyota Yale
Source: Compan
Table 17: Ind
Manufacturer
Bendi (Landoll)Caterpillar (MCClark MH Crown Doosan Heli Americas Hyster Hyundai Crown (HamechKalmar Komatsu Landoll Linde Liftking (ManiteMitsubishi (MCNissan (UniCarrTailift Taylor TCM (UniCarrieToyota World Lift Yale
Source: Compan
dustrial Lift Trukie Trucks (Cla
r
arriers)
(MCFA)
CFA) rriers) yota)
iers)
ny Information
dustrial Lift TruNo. Mod
1CFA) 18
12473152
h) 271118
ex) 8CFA) 14riers) 15
58
ers) 71666
ny Information
Yengs
uck Specificatioss 3)
uck Specificatioof
dels Capa
8 3,2 3,
44,4
5 2,333,
1 3,
318
4 4,5 3
3183
6 3,33,
t Associates © 2
ons
Number of Mode
9 12 15 13 6 1 19 8 6 13 7 9 6 14 28 10
ons – IC Cushio
acity Range (lbs)
4,000 000 – 15,500 000 – 16,500 4,000 – 6,500 000 – 12,000 4,000 – 6,000 500 – 15,500 ,000 – 3,500 ,000 – 6,500 000 – 10,000 000 – 14,000
4,000 ,000 – 6,500 8,000‐40,000 000 – 15,500 ,000 – 8,000 3,500 ‐8,000 8,000‐50,000 ,000 – 8,000 000 – 15,500 ,000 – 8,000 000 – 15,500
2015 All Rights R
els
on Tires (ClassE
MM
M
Maz
N
Perkins /
GM
Isuzu, Y
Nissan
GM /
Reserved. Conte
s 4) ngine Supplier
Options
GM Mitsubishi / GM Mitsubishi / GM John Deere
Mitsubishi / GM GM
da / GM / PerkinsMitsubishi Hyundai/GM
Nissan / Perkins Nissan
/ Deutz / ContinenVolkswagen GM/Cummins Mitsubishi / GM
Nissan Yanmar, Nissan, GCummins
/ Isuzu / MitsubisToyota
/ Perkins / YanmarMazda / GM
I
nts confidential
Capacity Rang(lbs)
1,000 – 4,5003,000 – 8,0002,200 ‐4,000 2,000 – 4,0003,000 – 10,000
4,500 4,000 – 8,0002,200 – 8,0003,000 – 8,0002,200 – 5,5003,000 – 8,000 2,000 – 8,0001,600 – 3,5003,000 – 8,0002,000 – 8,0002,500 – 8,000
Pow
ntal
GM
shi
r
Equipment Anndustrial Lift T January
to the Client
e
0 0
0 0
0 0 0 0 0 0 0 0 0 0
Transmission Type
Hydrostatic Powershift Powershift Powershift Powershift Powershift Powershift Powershift Powershift
ershift / HydrostaPowershift Hydrostatic Hydrostatic Powershift Powershift Automatic Automatic Powershift Powershift Powershift Powershift Powershift
alysis Trucks 2015
tic
Equipment AIndustrial LiftJanuary 2015
Table 18: In
Manufacturer
Caterpillar (MCChrisman Mfg.
Clark Mat. Han
Crown
Doosan
Drexel (Landoll
Crown (HamechHeli Americas Hyster
Hyundai
Kalmar Komatsu Linde Mitsubishi (MCNissan (UniCarrPrinceton
Tailift
Taylor TCM (UniCarrieToyota World Lift Yale
Source: Compan
Analysis t Trucks 5
ndustrial Lift Tr
No. of M
CFA) 304
d. 17
4
15
l) 1
h) 152142
9
113724
CFA) 18riers) 14
10
6
20ers) 17
36127
ny Information
Yengst
ruck Specificat
Models Lift C
0 3
7 3
5 3
5 31 22 2
1 37 4 38 34 30
3
0 167 36 32 3
3
t Associates © 2
tions – IC Pneu
Capacity Range (lb
3,000 – 33,000 4,000 – 6,500
3,000 – 18,000
4,000 – 6,500
3,000 – 33,000
6,000
3,000 – 18,000 2,000 – 40,000 2,500 – 105,000
3,000‐15,500
3,000 – 18,000 3,000 –35,000 3,000 – 40,000 3,000 – 35,000 3,000 – 17,500 4,500 – 8,000
3,000 – 22,000
6,000 – 120,000 3,000 – 22,000 3,000 – 51,000 3,000 – 22,500 3,000 – 36,000
2015 All Rights R
umatic Tires (C
s) Engin
Mitsu
Mitsu
K
Yanmar/IvGM/ MitsMazda / Kubota
NPerkins
M
Isuzu
PeNissan
GM /Cummins
Reserved. Conten
Class 5)
ne Supplier Optio
ubishi / GM / PerkKubota
ubishi / Perkins / GYanmar / Iveco
John Deere
Kubota / YanmarDoosan / GM
GM
veco/GM/Deutz/Hsubishi/Cummins/GM / Perkins/Cuma / Yanmar / Hyun
Mitsubishi Nissan
Nissan / Komatsus / Deutz / VolkswaMitsubishi / GM
Nissan Perkins, Kubota u / Yanmar / PerkiNissan / GM
erkins / Cumminsn / Isuzu / MitsubToyota / Hino / / Perkins / Yanm/ Mazda / Yanmar
nts confidential
ons T
kins
GM
Pow
Hyundai/Kubota Pommins dai /
Pow
agen
Aut
ns Aut
ishi
mar r / GM
to the Client
ransmission Type
Powershift Hydrostatic
Powershift
Powershift
wershift / Autoshi
Hydrostatic
Powershift owershift/Various
Powershift
Powershift
wershift / HydrostaPowershift Hydrostatic Powershift
tomatic/PowershiHydrostatic
tomatic/Powershi
Powershift Powershift Powershift Powershift Powershift
27
e
ift
s
atic
ift
ift
Equipment Market Analysis in North America
YENGST ASSOCIATESMachinery Market Research
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