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Forklifts Suppliers: Global Leaders and Key Players in 2026

Published time：

2026-06-18

Author：

Xin Hong Guang

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Xin Hong Guang

Abstract

The global forklift supplier landscape is dominated by a few large multinational corporations, alongside a robust network of regional and specialized manufacturers. The industry generated over $58 billion in revenue in 2024, led by Toyota Industries Corp.Top Global Forklift Suppliers (2024 Revenue)The following table lists the world's largest lift truck suppliers, based on Modern Material Handling's 2025 ranking.Rank Supplier 2024 Revenue (USD) Headquarters1 Toyota Industries Corp. (TICO) $18.26B Japan2 KION Group $8.96B Germany3 Jungheinrich AG $5.60B Germany4 Crown Equipment Corp. $5.29B USA5 Mitsubishi Logisnext Co. $4.44B Japan6 Hyster-Yale $4.30B USA7 Anhui Forklift Group $2.51B China8 Hangcha Group $2.29B China9 Doosan Bobcat $1.52B South Korea10 Clark Material Handling $1.05B USA11 Hyundai Material Handling $926M South Korea12 EP Equipment N/A ChinaKey Supplier ProfilesToyota Industries Corp. (TICO) is the world's largest forklift manufacturer with 2024 revenue of $1

The global forklift supplier landscape is dominated by a few large multinational corporations, alongside a robust network of regional and specialized manufacturers. The industry generated over $58 billion in revenue in 2024, led by Toyota Industries Corp.


Top Global Forklift Suppliers (2024 Revenue)

The following table lists the world's largest lift truck suppliers, based on Modern Material Handling's 2025 ranking.


Rank Supplier 2024 Revenue (USD) Headquarters

1 Toyota Industries Corp. (TICO) $18.26B Japan

2 KION Group $8.96B Germany

3 Jungheinrich AG $5.60B Germany

4 Crown Equipment Corp. $5.29B USA

5 Mitsubishi Logisnext Co. $4.44B Japan

6 Hyster-Yale $4.30B USA

7 Anhui Forklift Group $2.51B China

8 Hangcha Group $2.29B China

9 Doosan Bobcat $1.52B South Korea

10 Clark Material Handling $1.05B USA

11 Hyundai Material Handling $926M South Korea

12 EP Equipment N/A China

Key Supplier Profiles

Toyota Industries Corp. (TICO) is the world's largest forklift manufacturer with 2024 revenue of $18.26 billion. The company owns Toyota Material Handling, Raymond, and Tailift (Taiwan), offering a comprehensive product lineup across all classes of material handling equipment.


KION Group, the second-largest supplier with $8.96 billion in revenue, owns Linde, STILL, and Baoli. Linde is recognized for premium engineering and hydrostatic drive systems, while Baoli serves as the value brand for cost-conscious markets.


Jungheinrich AG ranks third with $5.60 billion in revenue. Over 90% of Jungheinrich's trucks are now Li-ion battery powered. The company is a leader in electric and lithium-ion technology, with the EFG 425 electric counterbalanced truck winning the 2025 IFOY Award for innovation.


Crown Equipment Corp. is the largest US-based manufacturer with $5.29 billion in revenue. Crown makes over 85% of its component parts in-house, ensuring quality control. The brand is known for dominance in electric warehouse equipment.


Mitsubishi Logisnext Co. ranks fifth with $4.44 billion in revenue, owning multiple brands including Mitsubishi Forklift Trucks, TCM, Cat Lift Trucks, and UniCarriers.


Hyster-Yale generates $4.30 billion in revenue. Hyster builds trusted lifting equipment with capacities from 2,000 to 36,000 pounds, while Yale focuses on operator comfort and ergonomics.


Anhui Heli and Hangcha are the leading Chinese manufacturers, ranking 7th and 8th globally with $2.51 billion and $2.29 billion respectively.


Hyundai Material Handling has emerged as a serious contender in the electric heavy-duty segment with the B-X Series high-voltage platform.


EP Equipment has shown the fastest growth among mid-tier manufacturers, best known for electric pallet jacks and small warehouse vehicles.


Regional Supplier Networks

Beyond the global leaders, regional and specialized suppliers serve specific markets. In North America, dealers like Eastern Lift Truck Co., Briggs Equipment, Forklifts of the Americas, and Thompson Lift Truck distribute major brands and provide localized service. In China, manufacturers like EP Equipment and Noblelift dominate the production of electric pallet jacks and smaller warehouse equipment. Specialized suppliers like Combilift focus on multidirectional forklifts for long loads, while Kalmar specializes in heavy-duty port equipment.


The Bottom Line

The global forklift supplier market is dominated by Toyota Industries Corp. ($18.26B), KION Group ($8.96B), Jungheinrich ($5.60B), Crown Equipment ($5.29B), and Mitsubishi Logisnext ($4.44B). Chinese manufacturers Anhui Heli and Hangcha continue to rise, while regional dealers and specialized suppliers fill specific market needs. When selecting a supplier, consider the brand's product range, regional dealer support, parts availability, and reputation in your specific industry.

Keywords：
forklifts suppliers
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