UKMHA's latest report predicts forklift orders to jump 9.4%The UK Forklift Truck Market Outlook is predicting stronger economic conditions through 2026, with easing inflation and more favourable finance expected to contribute to a 9.4% increase in forklift orders for the year.
“After a year defined by delayed investment decisions, rising costs and fragile confidence, the UK forklift truck market is moving through a period of adjustment rather than retreat,” states the report, prepared by Oxford Economics for the UK Material Handling Association (UKMHA).
The report says cost pressures and economic uncertainty influenced investment decisions throughout 2025, and saw many companies delay fleet renewals or opt for shorter-term leasing.
“Forklift truck orders are forecast to grow again as confidence strengthens, with further steady expansion expected through 2027,” the report continues. “Analysts point to this as a transition into a more stable, sustainable replacement cycle rather than a return to pandemic-era peaks."
The UKMHA’s industry survey showed that while some firms reported improved order books, confidence currently remains fragile. However, there are increasing levels of optimism for the return of modest sales growth, which aligns with the predictions of economic forecasters.
“The report suggests that 2026 will mark the beginning of a gradual return to growth, driven by easing inflationary pressures and a loosening of monetary policy conditions,” UKMHA states.
“With financing expected to become more affordable and supply chain uncertainty starting to settle, total forklift truck orders are forecast to recover by 9.4% in 2026.
“This uplift is set to be broad-based, with counterbalance truck orders projected to rise by 8.2%, supported by steady improvement in industrial production.”
The report continues saying truck orders in the warehouse segment are forecast to rebound sharply by 10.1% in 2026, following an unexpectedly weak performance in 2025, linked to softened online retail and consumer spending trends.
“Sales of pedestrian controlled warehouse trucks (Class 3), which were near to record highs in 2024, are projected to fall sharply during 2025 and then recover modestly in 2026,” it continues.
“Looking to 2027, the data points towards continued growth, albeit at a slower and more steady rate, with counterbalance orders forecast to rise by a further 6.5% and warehouse orders by a modest 1.9% as the market settles into a more normalised pattern of investment and operational planning.”