Skip to content
Search AI Powered

Latest Stories

Forklift sales declined slightly in 2022 after setting records the previous year

North American sales totaled 344,330 units for all model types, ITA says

ITA-training.jpeg

Forklift sales in the North American market remained robust for the second consecutive year, showing a marginal decline in 2022 after reaching a record level in 2021, according to industry group the Industrial Truck Association (ITA).

Despite headwinds from high levels of inflation and mixed economic indicators, retail orders decreased by only 1% year-over-year, closing out the year as the second highest on record, ITA said.


“Many economists are predicting stagnant levels of growth in GDP for 2023. To date through March 2023, the North American market is down 31.9% year-over-year. Ultimately, we will have to wait and see how the forklift market fares during the year, given the predicted economic challenges facing the country,” ITA President Brian Feehan said in a release. “It is important to recognize that in 2022 and 2021, more than 100,000 units sold above the traditional North American annual market volume.”

By the numbers, year-end 2022 forklift truck sales of 344,330, spanning all classes (1-5), trailed the previous year (347,677) by slightly more than 3,000 units. 

Industry performance varied among the classes including electric rider trucks (Class 1 and Class 2 combined) and motorized hand trucks (Class 3) declining (y/y). Class 3 showed the greatest decline of 11%. Class 1 declined by nearly 10% and Class 2 declined by 8.3%. The market for internal combustion trucks, Classes 4 and 5, grew significantly (y/y). Class 4 showed growth of over 39% whereas Class 5 grew at a rate of 13.7%.

 

 

The Latest

Artificial Intelligence

AI: Is it the real deal?

More Stories

Logistics economy picked up speed in January

Logistics Managers' Index

Logistics economy picked up speed in January

Economic activity in the logistics industry expanded in January, growing at its fastest clip in more than two years, according to the latest Logistics Managers’ Index (LMI) report, released this week.

The LMI jumped nearly five points from December to a reading of 62, reflecting continued steady growth in the U.S. economy along with faster-than-expected inventory growth across the sector as retailers, wholesalers, and manufacturers attempted to manage the uncertainty of tariffs and a changing regulatory environment. The January reading represented the fastest rate of expansion since June 2022, the LMI researchers said.

Keep ReadingShow less

Featured

Disrupting the furniture supply chain: An interview with Jay Rogers

Disrupting the furniture supply chain: An interview with Jay Rogers

As commodities go, furniture presents its share of manufacturing and distribution challenges. For one thing, it's bulky. Second, its main components—wood and cloth—are easily damaged in transit. Third, much of it is manufactured overseas, making for some very long supply chains with all the associated risks. And finally, completed pieces can sit on the showroom floor for weeks or months, tying up inventory dollars and valuable retail space.

In other words, the furniture market is ripe for disruption. And John "Jay" Rogers wants to be the catalyst. In 2022, he cofounded a company that takes a whole new approach to furniture manufacturing—one that leverages the power of 3D printing and robotics. Rogers serves as CEO of that company, Haddy, which essentially aims to transform how furniture—and all elements of the "built environment"—are designed, manufactured, distributed, and, ultimately, recycled.

Keep ReadingShow less
chart of GenAI effect on workforce

Gartner: GenAI tools create anxiety among employees

Generative AI (GenAI) is being deployed by 72% of supply chain organizations, but most are experiencing just middling results for productivity and ROI, according to a survey by Gartner, Inc.

That’s because productivity gains from the use of GenAI for individual, desk-based workers are not translating to greater team-level productivity. Additionally, the deployment of GenAI tools is increasing anxiety among many employees, providing a dampening effect on their productivity, Gartner found.

Keep ReadingShow less
warehouse worker driving forklift between racks

German 3PL Arvato acquires two U.S. logistics firms

The German third party logistics provider (3PL) Arvato this week acquired the U.S.-headquartered companies Carbel LLC and United Customs Services, saying the move would grow its client base, particularly in the fashion, beauty, and lifestyle segments.

According to Arvato, it made the move in order to better serve the U.S. e-commerce sector, which has experienced high growth rates in recent years and is expected to grow year-on-year by 5% within the next five years.

Keep ReadingShow less
photo collage of warehouse tech

Supply chain pros are wary of inflation and labor woes

The top worries that supply chain leaders hope to address with new innovations this year include inflationary concerns (68%) and labor shortages (50%), according to a survey on innovation from the third-party logistics provider (3PL) Kenco.

And many of them will have a budget to do it, since 51% of supply chain professionals with existing innovation budgets saw an increase earmarked for 2025, suggesting an even greater emphasis on investing in new technologies to meet rising demand, Kenco said in its “2025 Supply Chain Innovation” survey.

Keep ReadingShow less