Prior to the economic downturn, favorable conditions in the construction sector and strong demand from the manufacturing and freight sectors underpinned booming activity in the Forklift and Conveyor Manufacturing industry. However, the economic recession dramatically altered the outlook for the industry. Still, with downstream markets beginning to revive, revenue will grow modestly and demand for industry products will rise.
Firms in this industry manufacture equipment used to lift or move materials. Major products include forklifts; industrial tractors and trucks; escalators and elevators; conveyors; overhead hoists, winches, cranes and monorail systems; and related parts, attachments and equipment. This industry excludes firms that manufacture construction-type tractors and cranes; these firms are included in the Construction Machinery Manufacturing industry (IBISWorld report 33312).
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.