Stimulus policies and robust demand for internal combustion counterbalance forklifts helped the Chinese forklift market grow significantly in the first eight months of 2010, a new report says.

According to ResearchInChina's Global and China Forklift Industry Report 2009-2010, in 2009, China's forklift sales volume witnessed the first-ever negative growth in the past decade. The global economic downturn impacted negatively on the global forklift industry, causing a 40% or more decline in sales volume for forklifts in Europe, America, Oceania and Africa in 2009.

The rapid growth of China's forklift sales volume attracted more foreign enterprises and joint ventures into the Chinese market, the report says. By mid-2010, all of the world's top 20 forklift manufacturers - except for US-based Crown Equipment and Irish manufacturer Combilift - had entered the Chinese market. (In fact, Crown entered the Chinese market in 2006, but this is overlooked in the report.)

At that time, domestic manufacturers LiuGoing Machinery's forklift sales volume reached 2,740 units, up 125% year-on-year, and Lonking (Shanghai) Forklift's sales volume was 5,100 units, up 132% from the previous year. In October 2010, Sunward Intelligent launched its electric and LPG forklifts into the market.

Competition for Chinese forklift sales is becoming increasingly fierce as more domestic and foreign enterprises swarm into the Chinese forklift industry. Domestic manufacturers Anhui Heli and Hangcha are still at the top of the list despite heavy competition, and joint ventures like Lonking (Shanghai) and Tailift are in the top 10.

Among foreign manufacturers, Linde (China) ranks in the top three, while local manufacturers Ningbo Ruyi Joint Stock and Zhejiang Noblelift, experienced in manual pallet truck production, have moved into manufacturing industrial vehicles.

The report details the Chinese operations of companies that include Toyota, KION, Jungheinrich, NACCO Industries, Mitsubishi Caterpillar Forklift, Komatsu Utility Co Ltd, Anhui Heli, Zhejiang Hangcha Engineering Machinery Co Ltd and Tailift.

Other details include forklift sales volume and year-on-year global growth by region and product for 2009, output and year-on-year growth of major forklift manufacturers in China for 2009 and import volume and year-on-year growth of forklifts in China for 2001-2009.

Global and China Forklift Industry Report 2009-2010 is available for USD1,500 from http://www.reportlinker.com/p0332464/Global-and-China-Forklift-Industry-Report.html.

ResearchInChina, headquartered in Beijing, was established in 1999. It provides Chinese business intelligence to over 500 clients worldwide that include commercial and investment banks, insurance companies, mutual funds and manufacturers.