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Forklift Manufacturers and Ranking


This article looks at the 10 largest global manufacturers of lifttrucks ranked by revenue generated. 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.

The top 10 Forklift Manufacturers (by rank / group sales) are:

1. Toyota Industries Corp.

Toyota Industries Corp., based in Japan, had revenues of $18.522 billion for fiscal year 2016. 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.

2. The KION Group

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 Germany, KION had revenues of $5.535 billion in 2015.

3. The Jungheinrich Group

The Jungheinrich Group, based in Germany, had revenues of $3.058 billion for fiscal year 2015.

4. Hyster-Yale Materials Handling Inc.

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 Ohio.

5. Crown Equipment Corp.

Crown Equipment Corp., a privately-held company based in New Bremen, Ohio, had revenues of $2.5 billion in 2015, according to Forbes.

6. Mitsubishi Nichiyu Forklift Co.

Mitsubishi Nichiyu Forklift Co. Ltd., based in Kyoto, Japan, had revenues of $2.159 billion for fiscal year 2015.

7. UniCarriers Corp.

UniCarriers Corp., based in Japan, had revenues of $1.528 billion for the fiscal year ended 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 lifttruck manufacturer (behind Toyota and KION Group).

8. Anhui Forklift Group

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.

9. Hangcha Group

Hangcha Group, based in China, had revenues of $971 million.

10. Komatsu

Komatsu Ltd., based in Japan, had revenues of $15.414 billion for the fiscal year ended March 31, 2016. 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.

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