This report examines in detail the Chinese market for industrial forklift trucks, and is an update of the study last published by Off-Highway Research in November 2021. Its findings are based on a series of in-depth personal interviews undertaken with the industry’s major manufacturers and dealers during the first three quarters of 2023.
Industrial forklift trucks are vehicles used to lift and move heavy loads, and are typically powered either by internal combustion engines or electric motors. The former is referred to as IC trucks and the latter as electric trucks. With regards to IC trucks, the fuel used can be diesel, gasoline or liquefied petroleum gas (LPG), with diesel being dominant. With regards to electric trucks, the power sources include lead-acid battery, lithium-ion battery, and fuel cell.
According to the World Industrial Trucks Statistics Institute, industrial forklift trucks are divided into seven classes. Class I forklifts are ride-on trucks with an electric motor and usually counterbalanced, Class II forklifts are ride-on trucks with an electric motor for use in narrow aisles or warehouse picking functions, Class III forklifts are automated walk behind pallet lift trucks with electric motors, Class IV forklifts are vehicles with internal combustion engines equipped with cushion tyres and counterbalanced, Class V forklifts are vehicles with internal combustion engines equipped with pneumatic tyres and often counterbalanced, Class VI forklifts are defined as tow tractors, and Class VII forklifts are telescopic rough terrain material handlers.
This report concerns only electric counterbalanced trucks (Class I), electric
warehouse trucks (Class II), and internal combustion counterbalanced trucks
(Class IV and Class V). The other three types are outside the scope of this study.
Chinese Equipment Analysis: Industrial Forklift Trucks
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Chinese Equipment Analysis