China’s forklift market sees steady growth in 2024, strong overseas performance

According to data from the China Construction Machinery Association, China’s forklift market maintained steady growth in 2024, with total sales reaching 1.2855 million units, a year-on-year increase of 9.52%. Domestic sales accounted for 805,000 units, up 4.77%, while exports rose 18.53% to 480,500 units, driven by the expanding global market and improved competitiveness of Chinese manufacturers.

Electric forklifts continued to dominate, with sales of 946,300 units in 2024, representing 73.61% of total sales and a 5.74% increase from the previous year. Their eco-friendly, low-noise, and cost-effective features are accelerating the replacement of traditional internal combustion forklifts.

In January 2025, however, sales experienced a seasonal decline, dropping 15.4% year-on-year to 93,648 units. Domestic sales fell 24% to 54,950 units, while exports saw a slight increase of 0.69% to 38,698 units, reflecting typical holiday-related fluctuations.

Looking ahead, the forklift market is expected to benefit from China’s “dual-carbon” goals and the ongoing smart transformation of manufacturing, with electric and smart forklifts likely to drive future growth. Chinese manufacturers are also poised to expand their global presence through innovation and strategic market development.

5 Mar 2025 reported by Machinery News