Global demand for materials handling equipment remained stable in the first quarter of 2012, according to a leading forklift manufacturer.

German-headquartered Jungheinrich AG says about 246,100 materials handling trucks were acquired in that period compared to 246,300 trucks the previous year.

Europe recorded a decline of 4%. The Western European market shrank by 5%, while demand in Eastern Europe jumped by 4%. The Asian market volume was only marginally larger year-on-year, while China experienced a 5% decline. In contrast, the North American market expanded by 13%.

Jungheinrich says it got off to a good start to fiscal 2012, ending the first quarter of 2012 with "significant rises in incoming orders and sales", and an earnings boost.

"The business trend benefited from the continued increase in plant capacity utilisation and the growth in the service business," the company says.

Jungheinrich anticipates the global materials handling equipment market to expand by 2% to about one million units this year, with market growth focused in Asia, Latin America and the USA.