This slideshow looks at the 10 largest global manufacturers of lift trucks ranked by revenue (either company reported or based on outside sources as noted below). These suppliers play an outsized role in providing some of the leading material handling technologies and vehicles used worldwide by companies to manage their warehouses and distribution centers.
Komatsu Ltd., based in Tokyo, Japan, had revenues of $15.414 billion for the fiscal year ended March 31, 2016 (based on the exchange rate as of 12/31/2015). The company's construction, mining and utility equipment division, which includes forklifts, had revenues of $13.637 billion. According to Statista, Komatsu's forklift business accounts for roughly 6% of sales for the division, which would put Komatsu's forklift business at roughly $820 million.
(Product shown is the Komatsu FH-45.)
Hangcha Group, based in Zhejiang Sheng, China, had revenues of $971 million, according to Statista, the most recent year that numbers were available.
(Product shown is the Hangcha A25.)
Anhui Forklift Group Co. Ltd., based in Anhui, China, China, had revenues of $1.123 billion, according to Statista, the most recent year that numbers were available.
(Product shown is the Anhui 4-Wheel AC forklift.)
UniCarriers Corp., based in Shin-Kawasaki, Kanagawa, Japan, had revenues of $1.528 billion for the fiscal year ended March 31, 2015 (based on the exchange rate on March 31, 2015). However, the company was acquired last year by Mitsubishi Heavy Industries Ltd. (MHI) in a deal estimated at $887 million. The deal was ultimately finalized in March 2016, with UniCarriers becoming a subsidiary of MHI, with 65% owned by Mitsubishi Heavy Industries Forklift & Engine Turbocharger (MFET) and 35% by Mitsubishi Nichiyu Forklift. According to Bloomberg's analysis, the acquisition would result in MHI becoming the world's third-biggest lift truck manufacturer (behind Toyota and KION Group).
(Product shown is the UniCarriers Platinum II.)
Mitsubishi Nichiyu Forklift Co. Ltd., based in Kyoto, Japan, had revenues of $2.159 billion for fiscal year 2015 (ended March 31, 2015), based on the exchange rate as of 3/31/2015. Since then, the company, which itself is a subsidiary of Mitsubishi Heavy Industries (MHI), has acquired a 35% stake in UniCarriers, with MHI owning the other 65%. Once the various acquisitions and corporate structurings are finalized, we will offer more clarity into Mitsubishi's share of the lift truck market.
(Product shown is the Nichiyu SICOS-AC.)
Crown Equipment Corp., a privately-held company based in New Bremen, Ohio, had revenues of $2.5 billion in 2015 (ended March 31, 2015), according to Forbes.
(Product shown is the Crown FC5200.)
Hyster-Yale Materials Handling Inc., the parent company of the Hyster and Yale brands of lift trucks, had consolidated revenues of $2.578 billion for the fiscal year ended December 31, 2015. The company is based in Cleveland, Ohio.
(Product shown is the Yale Three-Wheel Stand.)
The Jungheinrich Group, based in Hamburg, Germany, had revenues of $3.058 billion for fiscal year 2015, based on the exchange rate as of 12/31/2015.
(Product shown is the Jungheinrich ETV-C16.)
The KION Group is made up of several lift truck brands, including Linde, STILL, Fenwick, Baoli, OM STILL and Voltas, as well as Egemin Automation, a provider of AGVs. Based in Wiesbaden, Germany, KION had revenues of $5.535 billion in 2015 (fiscal year ended December 31, 2105), based on the exchange rate as of 12/31/2015. KION also has announced plans to acquire Dematic, a manufacturer of AGVs, palletizers and other warehouse automation systems.
(Product shown is the Linde 1276.)
Toyota Industries Corp., based in Kariya, Aichi, Japan, had revenues of $18.522 billion for fiscal year 2016 (ended March 31, 2016), based on the exchange rate as of 12/31/2016. In addition to forklifts sold under the Toyota and Raymond brands, the company also manufactures automobiles (primarily the RAV4 and Yaris brands), automotive air conditioning equipment, elelctronic parts and textile machinery. The company's revenues solely from the material handling/forklift market were $8.344 billion, making it the largest lift truck manufacturer in the world.
(Product shown is the Toyota 3-Wheel Forklift.)
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