General OverviewWorldwide economic growth in 2019 slowed to 2.9% from 3.6% in 2018. Economic uncertainties such as trade disputes among the United States, China, and the European Union, Brexit, and economic cycles in China and India led to increased unwillingness to invest from the world’s companies.According to KION Group, the world’s second largest lift truck
US real gross domestic product increased at an annual rate of 2.1% in the third quarter. The first and second quarters saw GDP growth of 3.1% and 2.0% respectively (source: Bureau of Economic Analysis).
Total Lift Truck MarketThe global lift truck market grew by 10.2% in 2018 to 1.5 million units. All lift truck classes saw gains with the largest gains coming from Class III products – Electric Motor Hand or Hand-Rider Trucks.US factory shipments of forklift trucks rose 9.29% from 212,002 total units in 2017 to 231,696 total
Below is a reference guide to the 7 different classifications of forklifts that are available in the market today. This useful guide will help you make an informed decision when choosing the right for your company.CLASS 1 – ELECTRIC MOTOR RIDER TRUCKSA Class 1 unit is powered by an industrial battery and electric motor. These