The e-commerce boom is boosting demand for products like the Aislemaster

While some sectors of the economy are suffering, the Australian forklift market is benefiting from relaxed depreciation rules and a surge in demand in areas such as e-commerce and major capital projects.

As part of the Government's COVID-19 response, the threshold for instant asset write-offs was increased from AUD30,000 to AUD150,000, while the eligibility was expanded to cover businesses with an aggregated turnover of less than AUD500 million (up from AUD50 million).

The higher threshold covers far more forklift models and materials handling equipment options, and the measure is already stimulating demand and boosting order books.

Combilift managing director Martin McVicar says the measure "has fuelled a lot of companies to invest in equipment" and his company's dealers in Australia have witnessed "a massive surge in demand".

Much of the demand spike has been driven by e-commerce, but Chris Littlewood, Combilift Australia business development manager, notes some significant orders in recent weeks from the steel sector "which is showing the most growth of all sectors".

Other manufacturers and dealers contacted by Forkliftaction News confirmed the uptick in sales and forward orders, although none would go on the record with detailed comments.