The sales data of powered industrial vehicles (forklift trucks) in China in January has been released. After setting historical monthly sales records for 10 consecutive months, this month finally showed a slight "fatigue". With sales of 93,648 units, it failed to exceed the 110,695 units sold in the same period last year, ranking second in the historical data for the same period, with a year-on-year decline of 15.4%. The reason for this is closely related to the impact of the Spring Festival factor, which led to a decline in the domestic market. The domestic sales volume was 54,950 units, a year-on-year decrease of 24%.

However, looking at the historical data for the same period, apart from the 110,695 units sold last year, the 93,648 units sold in January this year still outshine all the historical data for the same period!

In other words, the forklift truck market has been in a growth period for a long time. From 337,000 units in 2014 to 1.29 million units in 2024, the sales volume has nearly tripled in ten years, and there is still no sign of reaching its peak.

The export performance is even more remarkable. From 93,000 units in 2014 to 480,000 units in 2024, the sales volume has increased by more than four times in ten years! In January this year, it set a new sales record for the same month for the 11th consecutive time.

The reason why it can maintain such a strong momentum is, of course, closely related to the continuously growing market demand. The demand for forklift trucks is widely distributed across multiple industries, and the development trends of these industries are the key driving forces for the continuous growth of the forklift truck market.

Firstly, the manufacturing industry, which covers many fields such as automobiles, electronics, and machinery. During the production process, the handling of raw materials, components, and finished products cannot be done without forklift trucks. As the manufacturing industry continues to expand, with the increase in factory scale and production volume, the demand for forklift trucks naturally rises. Especially against the backdrop of industrial upgrading, the concept of lean production prompts enterprises to optimize their logistics processes, putting forward higher requirements for the efficient and precise handling capabilities of forklift trucks, further stimulating the growth of demand.

Secondly, the logistics and warehousing industry. The booming development of e-commerce has brought explosive growth to the logistics and warehousing industry. A huge amount of goods flowing in and out of warehouses requires a large number of forklift trucks for loading, unloading, stacking, and sorting operations. The popularization of automated stereoscopic warehouses has further increased the operational intensity and efficiency requirements for forklift trucks. Not only ordinary forklift trucks are needed, but there is also a strong demand for special forklift trucks such as high-level forklift trucks and narrow-aisle forklift trucks to meet different warehouse layouts and cargo storage methods.

In addition, large supermarkets and warehouse-style stores in the retail industry also rely on forklift trucks in the processes of goods shelving and replenishment. With the continuous prosperity of the consumer market, retail enterprises are constantly expanding their business scale, opening more new stores, and the demand for the configuration of forklift trucks is also rising accordingly.

In conclusion, the strong demand for forklift trucks in industries such as manufacturing, logistics and warehousing, retail, and construction is the fundamental reason for the continuous growth of the forklift truck market.