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: 3/4/2019
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 Schaefer Holding International (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 2026, according to Inkwood Research. Top countries for material handling equipment production include China, Germany, Japan, and the US.
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 $29 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. Some segments of the industry are highly concentrated: the top 50 elevator manufacturers and the top 50 makers of cranes and hoists each account for more than 90% of segment revenue.
Imports of material handling equipment, primarily from Canada, China, Germany, and Japan, account for about 25% of the US market. Exports make up nearly 20% of US production. Major export markets include Canada, Mexico, the UK, and the Netherlands.
Products, Operations & Technology
Major products include industrial trucks such as forklifts, hand trucks, and pallet jacks and stackers (30% of industry revenue); overhead crane, hoist, ... plus:
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Historical Profiles (PDF format)

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