First Research US Industry Profile

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Material Handling Equipment Manufacturing
SIC Codes: 3531, 3535, 3536, 3537
NAICS Codes: 33392
Last Quarterly Update: 4/18/2022
Companies in this industry manufacture material handling machinery and equipment, including forklifts, conveyors, elevators and escalators, and overhead cranes and hoists. Major companies include Honeywell Intelligrated, Hyster-Yale, Otis Elevator, and Terex (all of the US), as well as Anhui Forklift Truck Group (China), Cargotec and Konecranes (both of Finland), Daifuku and Toyota Industries (both of Japan), KION Group and SSI Schaefer (both of Germany), Manitou (France), and Schindler Holding.
Worldwide demand for material handling equipment is expected to grow at an annual rate of more than 6% through 2028, according to Inkwood Research. Top countries for material handling equipment production include China, India, and Japan, according to the WBOC.
The US material handling equipment manufacturing industry includes about 1,600 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $30 billion.
Competitive Landscape
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.
Imports of material handling equipment, primarily from Canada, China, Mexico, and Japan, account for about 3% of the US market. Exports make up nearly 50% of US production. Major export markets also include Canada, China, Mexico, and Japan.
Products, Operations & Technology
Major products include industrial trucks such as work trucks and fork lifts (more than 20% of industry revenue); unit handling gravity and trolley conveyors ... plus:
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Finance & Regulation
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Regional & International Issues
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Human Resources
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Industry Indicators
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Business Challenges
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Trends and Opportunities
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Financial Information
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Industry Forecast
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Industry Websites
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Glossary of Acronyms

Historical Profiles (PDF format)

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11/30/2020
09/28/2020
06/08/2020
02/10/2020
03/04/2019
11/26/2018
08/27/2018
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02/26/2018
11/20/2017
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11/07/2016
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10/26/2015
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11/03/2014
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05/19/2014
02/24/2014
11/25/2013
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03/18/2013