Demand for materials handling equipment in the third quarter of 2010 climbed 41% compared to the same period last year.
New market intelligence from Jungheinrich AG shows that after nine months, the world market cumulatively expanded by about 47%, from the previous year's 393,300 to 576,900 trucks. All world regions contributed to the growth - but at different rates.
Asia posted the strongest gain, expanding by 62%. China made a large contribution, growing by 79%. By the end of the nine-month period, the European market volume had increased by 30%, experiencing accelerated growth of 38% in the third quarter of 2010. Eastern Europe made a disproportionately large contribution, posting a gain of 134%. However, this follows a market collapse of 77% last year. Western Europe, which recorded a rise of 20% after nine months, achieved a growth rate of about 25% in the third quarter of 2010, recovering further. The North American market also recovered substantially, expanding by 32% in the first nine months of 2010.
Jungheinrich, which is the world's third-largest forklift manufacturer, saw its production volume rise by 24% from 12,500 to 15,500 trucks in the third quarter of 2010
(Forkliftaction.com News #479). After nine months, its production output had climbed a cumulative 17%, from the prior year's 36,600 units to 2010's 42,800 units.
Hans-Georg Frey, Jungheinrich's board chairman, says the company expects to see more consolidation, expansion and improved earnings for the rest of 2010. "The fact that the enlargement of the European market, which remains our major sales region, has accelerated in the meantime will be helpful."
The German manufacturer raised its forecasts and now expects its incoming orders to total about EUR1.85 billion (USD2.5 billion) and consolidated net sales to jump to over EUR1.75 billion (USD2.36 billion). It expects to generate pre-tax profit of over EUR80 million (USD108 million) for 2010.
Jungheinrich predicts the world materials handling market to grow by about 40% to over 750,000 trucks for 2010.