Jungheinrich board of management chairman Dr Cletus von Pichler.

Growth in the global materials handling market was happening mainly outside Europe, Jungheinrich board of management chairman Cletus von Pichler told the company's annual general meeting.

"In 2004, the global economy performed far better than implied by many economic scientists, politicians and journalists. The global market volume for materials handling equipment increased from 2003's volume by more than 100,000 vehicles, exceeding 700,000 units for the first time in 2004.

"The worldwide growth rate was 17 per cent," von Pichler said.

He said North America and Asia were the regions with the strongest expansion, with growth rates of 20 per cent and 21 per cent.

"European growth in 2004 was 11 per cent, which is strong but nevertheless modest compared to the rest of the world.

"As a result, the European proportion of the global market went down two percentage points to just under 42 per cent in 2004.

"It is notable that market growth in western Europe was only eight per cent while eastern Europe grew 41 per cent," he said.

Von Pichler said Jungheinrich, which was primarily active in central European markets, would have to "move fast to secure a share in emerging markets in new countries and regions not yet tapped" to ensure its position as a world leading manufacturer of materials handling equipment.

According to dhf-magazine's world ranking of forklift manufacturers, Jungheinrich is number three, just after Toyota and Linde (Forkliftaction.com News #203).