Businessmen from Turkey noted that although there are certain forklift suppliers in their country, the quantity pales in comparison to that of China. As a result, they conducted thorough preliminary research and made a special journey to the China Import and Export Fair Canton Fair to inspect Heli forklifts. They were impressed by the superior quality of these products and expressed their interest in acting as agents for Heli forklifts in Turkey in the future.
This year, the export of Chinese construction machinery has sustained a growth trajectory, with the forklift industry serving as a prime exemplar of this trend.
In the first quarter of this year, the forklift export volume of a renowned brand in Anhui witnessed an increase of over 50% year - on - year. This remarkable growth can be attributed primarily to the introduction of new products such as electric forklifts, enhanced market support initiatives, and the expansion into new markets. Chinese forklift products, characterized by their maturity, stable quality, and competitive pricing, have thus secured a favorable position in the global market.
In 2023, the global forklift sales volume increased by 7.7% year - on - year. China forklift sales accounted for 36% of the global market share and 77% of the Asian market share. The export performance of Hangcha forklifts remained robust in the first quarter of this year. Based on the observations during the first two days of the Canton Fair, a significant number of businessmen from South America, including those from Brazil, Argentina, Ecuador, Venezuela, Chile, and Peru, were in attendance. Additionally, a substantial number of clients from Eastern Europe and Africa were also present. Our focus is on promoting electric forklifts, among which lithium - battery - powered models with extended service life and rapid charging capabilities are gaining increasing popularity.
Sustained Growth in Forklift Exports
Yu Dongke, Director of the Machinery Industry Department of the China Chamber of Commerce for Import and Export of Machinery and Electronic Products, disclosed to Yicai reporters that from January to February this year, the total import - export volume of Chinese construction machinery products reached 7.86 billion US dollars, reflecting a 7.6% year - on - year increase and demonstrating stable performance. Specifically, exports amounted to 7.48 billion US dollars, representing an 8% year - on - year growth, while imports were valued at 390 million US dollars, a 1.3% year - on - year increase. The trade surplus stood at 7.09 billion US dollars, marking an 8.4% year - on - year growth.
As a crucial component of the construction machinery sector, the forklift industry has maintained its export growth momentum this year. From January to February 2024, China exported 457,000 forklifts. Notably, the export volume of electric forklifts reached 105,000 units, registering a 28.9% year - on - year increase and accounting for 23% of the total forklift exports. The export value of electric forklifts increased by 40.1% year - on - year, contributing to 51% of the total forklift export value. Electric forklifts thus emerge as the forklift category with the most rapid export growth rate.
China leading forklift enterprises have successfully entered the first echelon of the global industry. However, they have yet to achieve an unassailable leading position. In the development of emerging electric forklifts, China benefits from its well - established lithium - battery industry chain, with major battery manufacturers such as Contemporary Amperex Technology Co., Limited (CATL) and BYD Company Limited providing robust support. Consequently, Heli is actively advancing the development of electric forklifts and making dedicated efforts in overseas market development. It is anticipated that the proportion of its overseas revenue will increase in the future.
In recent years, Chinese enterprises have been steadily expanding their market share in Southeast Asia, the Middle East, Africa, and South America. Their forklift market share in countries like Turkey and Mexico has exceeded 50%.
To attain global leadership, it is imperative to capture the European and American markets. The next strategic focus lies in Europe and the United States, marking a deeper phase of the internationalization drive, said Wang Chao. Heli has already secured approximately 10% of the market share in some developed markets, including Canada. However, competing with European and American brands necessitates more sophisticated strategies and further localization efforts. Heli has proactively made early - stage arrangements by establishing multiple overseas centers, three of which are located in developed markets such as Europe and the United States. The establishment of these centers is expected to significantly enhance the efficiency of delivery and communication.
Electrification represents the overarching trend in the industry. At this year Canton Fair, all the exhibited vehicles are electric, marking the first time that internal combustion forklifts have not been showcased, stated Yao Yuncong. The key export markets for this year remain the European and American regions, while the incremental markets are predominantly located in Asia (especially Southeast Asia and South Asia) and Eastern Europe.
The continuous growth in Hangcha exports during the first quarter of this year can be attributed to three key factors. Firstly, relentless research and development efforts have driven innovation. Secondly, the company super - factory, equipped with more than 600 intelligent robots, over 10 automatic spraying production lines, more than 20 intelligent production lines, and over 60 AGV intelligent logistics vehicles, enables an annual production capacity of 400,000 units. Thirdly, its extensive global network, featuring 10 overseas branches in locations such as Germany, the Netherlands, the United States, Canada, Mexico, Brazil, Thailand, and Australia, provides comprehensive coverage across Europe, the Americas, Southeast Asia, and Australia.
Adapting to Future Changes
This year, the foreign trade environment is characterized by an increasing number of uncertainties, and export competition has become more intense. In response, leading forklift enterprises are actively seeking strategies to adapt to changes with proactive adjustments.
Currently, some Chinese forklifts are being exported to overseas markets in the form of Semi - Knocked - Down SKD kits, which are then assembled locally for sale. With the continuous improvement of global manufacturing capabilities, the rise in Chinese labor costs, and the presence of trade protection measures, industry experts predict that this model will become an inevitable trend. In the future, regions that currently lack the necessary assembly capabilities are likely to gradually develop such capabilities.
Compared with industries such as clothing, footwear, and headwear, the forklift industry presents unique challenges for industrial transfer due to the complexity of its products, as each forklift comprises thousands of components. Nevertheless, it is essential to prepare for potential future changes. Regarding the potential destinations for industrial transfer, several criteria are considered: a sizable target market, a complete supporting industry ecosystem, relatively low labor costs, and a concentration of skilled personnel. Countries such as Thailand, Indonesia, and Brazil meet these criteria to varying degrees. "Comprehensive research and evaluation are required to determine whether to initiate a transfer, the preferred destinations, the sequence of transfer, and the potential risks associated with overseas investment, experts emphasized.
Driverless technology represents another significant development trend in the forklift industry. Forklifts are widely utilized in diverse material handling scenarios, including logistics centers, industrial parks, factories, and airports. The adoption of driverless technology can effectively address issues such as labor shortages, enable 24 - hour continuous operation, and significantly enhance material handling efficiency.
In conclusion, the future development of the forklift industry is oriented towards electrification, intelligence, and networking.
