Source: Modern Materials Handling

The largest forklift manufacturers have held onto their relative positions in the latest ranking published by Modern Materials Handling.

With reported 2014 revenues of USD7.712 billion, Japan's Toyota retains the top spot, followed by Germany's KION, with revenues of USD5.314. Jungheinrich, also from Germany, clung onto third place.

While Toyota's revenues were up from the previous year, both KION and Jungheinrich reported drops in US dollars, although the third-placed maker actually improved sales in Euros.

Observers will be keenly watching sixth-placed Mitsubishi Nichiyu, which grew 10% last year and is poised to jump up the rankings when it concludes its take-over of seventh-placed UniCarriers (the result of a 2012 merger between Nissan Forklift and TCM).

The only changes in the top 20 were Combilift and Tailift, which traded places - Combilift rising from 16th last year to joint 14th this year, ahead of its Taiwanese rival.

The combined value of the Top 20 forklift suppliers is down 3.5% this year, but the publication points out that "nearly all reporting companies noted unfavourable currency conversions that in many cases turned gains into losses". Many reported double-digit growth in unit sales.

Commenting on the state of the industry in the MMH review, Brett Wood, chairman of the Industrial Truck Association (ITA) and president and CEO of Toyota Material Handling North America, says the global market continues to be relatively robust, with 1 million unit sales in 2014. "This is, in part, a reflection of the strength of certain economies, especially here in the United States," he is quoted as saying.