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2025

2024 World Ranking Of Forklift Manufacturers Based On Reported Gross Revenue Earned In 2023

by Scott McLeod

Every year, the team at Modern Materials Handling does their best to collect as much accurate data from as many forklift manufacturers as they can to bring you a yearly world ranking of forklift manufacturers based on reported gross revenue from the prior year.

A summary of the results are shown in the table below.


2024 World Ranking Of Forklift Manufacturers Based On Reported Gross Revenue Earned In 2023*

RankingForklift ManufacturerRevenue
( In Millions )
1 Toyota Industries Corporation ( Toyota, Raymond, BT, Cesab, LF ) 16,322
2 Kion Group AG ( Linde, Still, Dematic, Baoli, Fenwick, OM ) 9,359
3 Jungheinrich AG 6,128
4 Crown Equipment Corporation 5,180
5 Mitsubishi Logisnext Co. ( Cat, Mitsubishi, Jungheinrich, Unicarriers ) 4,637
6 Hyster - Yale Materials Handling 4,118
7 Anhui Forklift Group Co. ( Heli ) 2,451
8 Hangcha Group Co. 2,297
9 Doosan Bobcat  2,002
10 Clark Material Handling 1,000
11 Hyundai Material Handling 885
12 EP Equipment 831
13 Komatsu 605
14 Lonking Forklift Co. 516
15 Combilift 510
16 Guangxi Liugong Machinery Co. 487
17 Noblelift Intelligent Equipment Co. 420
18 Manitou Group 233
19 Hubtex 115
20 Godrej & Boyce 101

* For a more detailed explanation and clarification of the numbers, please reference the complete article written by Roberto Michel from Modern Material Handling dated August 5, 2024 (  Top 20 lift truck suppliers 2024 ).

We would encourage all worldwide forklift manufacturer’s to report their results every year when surveyed by Modern Materials Handling. For those manufacturer’s that haven’t received a yearly survey and would like to be on the list or if you would like to report an error in the results of the 2024 ranking, please contact Roberto Michel directly via email rmichel@peerlessmedia.com.

If you have any questions about forklift fleet management consulting services or independent forklift procurement consulting services, please feel free to reach out to Scott McLeod, President of Fleetman Consulting Inc. by calling (604)614-3530 cell or via email, smcleod@fleetmanconsulting.com.

Posted in: Top Forklift Manufacturers