Toyota Industries Corporation holds the top ranking.

Toyota Industries Corporation remains the world's largest materials handling supplier, with revenues of USD8.563 billion.

According to the latest ranking by Modern Materials Handling, TICO's performance has been boosted by the acquisitions of Bastian Solutions and Vanderlande Industries.

KION remains in second place, with sales of USD$5.879 billion.

Last year's acquisition of UniCarriers has pushed Mitsubishi Nichiyu Forklift into third place, bumping Jungheinrich into fourth spot, despite its strong performance in 2016. The German company grew significantly last year, with an order intake of 109,200 forklifts, 12.5% up from the previous year.

Crown Equipment is fifth, after revenues rose more than 10% over the year, while Hyster-Yale Materials Handling held its sixth place, propped up by sales from its Bolzoni acquisition.

Anhui Forklift is the highest-ranked Chinese manufacturer, coming in at number seven after sales of 86,625 units, an increase of 16%.

Doosan was a big mover, rising from 11th position to eighth place, while Hangcha Group, with sales of 82,350 units, rose from 12th to ninth.

Clark Material Handling retained its 10th spot in its 100th year.

The rankings are based on financial performance in the 2016 fiscal year.