|Last Quarterly Update:||2/20/2017|
|SIC Codes:||3531, 3535, 3536, 3537|
|Industry Overview||Trends & Challenges||Industry Forecast|
|Quarterly Industry Update||Call Prep Questions||Website & Media Links|
|Business Challenges||Financial Information||Glossary & Acronyms|
Companies in this industry manufacture material handling machinery and equipment, including forklifts, conveyors, elevators and escalators, and overhead cranes and hoists. Major companies include Hyster-Yale, Intelligrated, Otis Elevator, and Terex (all of the US), as well as Cargotec and Konecranes (both of Finland), Daifuku and Toyota Industries (both of Japan), KION Group (Germany), Manitou (France), Schindler Holding (Switzerland), and Zoomlion Heavy Industry (China).
Worldwide demand for material handling equipment is expected to grow at an annual rate of 5 percent, reaching more than $140 billion by 2018, according to the Freedonia Group. Top countries for material handling equipment production include China, Germany, Japan, and the US.
The US material handling equipment manufacturing industry includes about 1,500 companies with combined annual revenue of about $30 billion.
Demand is driven by overall industrial production and companies' need to automate production and facilitate the efficient flow of goods to market. The profitability of individual companies depends on product innovation and efficient operations. Large companies have economies of scale in purchasing and greater ability to offer a wider range of products to a diverse customer base. Small companies can compete by specializing in niche products. Overall, the US industry is concentrated: the top 50 companies account for 60% of industry revenue. Some segments of the industry are highly concentrated: the top 50 elevator manufacturers and the top 50 makers of cranes and hoists each account ...
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