ITA reports fourth consecutive year of record-breaking forklift sales in 2018
Each lift truck class grew, and electric products accounted for approximately 64% of last year’s market.
Forklift truck sales in the North America market continue their unprecedented increase, with 2018 marking the fourth consecutive year of historic growth.
According to a report from the Industrial Truck Association (ITA), more than a quarter million units were sold, representing a 2.8% increase from 2017.
“All five truck classes exhibited growth in 2018, representing diverse demand across product lines,” said Scott Johnson, chairman of the board of directors for ITA and vice president of marketing and sales for CLARK Material Handling Company.
Year-end forklift truck sales of 260,180 included electric rider trucks (Class 1 and Class 2 combined), motorized hand trucks (Class 3) and internal combustion powered trucks (Class 4 and Class 5 combined). Electric and internal combustion truck sales grew at similar rates, showing annual increases of 2.8% and 2.7%, respectively. Overall, electric products accounted for approximately 64% of last year’s market.
“Industrial truck sales continue to play an integral role in keeping the U.S. economy moving” said Johnson. “The market contributes more than $25 billion annually to the U.S. GDP, and for every direct job in the industry, an additional 2.5 jobs are supported elsewhere in the economy.”
Canada and Mexico remain the two largest export countries for U.S. forklift manufacturers. Brian Feehan, president of the ITA, highlighted the United States Mexico Canada Trade Agreement (USMCA), formerly known as the North American Free Trade Agreement (NAFTA).
“Passage of the USMCA will play a critical role in maintaining the health of our industry,” Feehan said. “A successful conclusion to USMCA will provide the long-term policy framework manufacturers and consumers need to ensure the North American market remains one of the strongest for our industry.”
