The new Jungheinrich DFG 430 counterbalance truck.

The global materials handling equipment market expanded in volume to 556,800 forklifts for the first half of 2014. This is 10% higher than the 507,800 trucks recorded for the same period last year, according to data released by German forklift manufacturer Jungheinrich.

Europe, Jungheinrich's main sales market, also recorded an increase of 10%. Demand in Western Europe rose by 12%, with Eastern Europe's market volume increasing by 1%. Demand in Asia was up 15%, while the North American market grew by 8%.

In the first half of 2014, the value of incoming orders for the Jungheinrich Group rose by 7%, with net sales advancing by 9%. Net income after the first six months was 13% higher year-on-year. Unit production climbed by 22% during the same period.

In the second quarter of 2014, the value of the group's incoming orders, encompassing all business fields, was EUR646 million (USD864 million), 11% higher than last year's corresponding figure (EUR582 million/USD778 million). In the first half of 2014, incoming orders rose by 7% to EUR1.246 billion (USD1.665 billion) compared to the figure recorded in the same period last year (EUR1.169 billion/USD1.563 billion).

As of June 30, 2014, orders on hand from new truck business totalled EUR441 million (USD590 million) - EUR75 million (USD100 million) or 20% higher than at the end of 2013.

Hans-Georg Frey, management board chairman of Jungheinrich AG, says: "In light of the current economic and market outlooks and the development of business in the first half of 2014 and based on the continued increase in orders on hand, we confirm our forecasts for incoming orders, consolidated net sales and EBIT in the year under way. Incoming orders and group net sales should be within a range of EUR2.4 billion (USD3.2 billion) to EUR2.5 billion (USD3.3 billion). EBIT should amount to between EUR175 million (USD234 million) and EUR185 million (USD247 million)."