2025 H1 Forklift Industry Development Report: 14% Export Growth Against Trend, Accelerated Intelligent Transformation

Industry Overall Performance: Domestic Demand Recovery and Export Resilience Driving Growth

The forklift industry showed a steady recovery at the start of 2025, with cumulative domestic forklift sales reaching 195,000 units in January-February, a year-on-year increase of 9%. Exports reached 74,000 units, a significant year-on-year increase of 14%, reflecting the resonance between domestic demand recovery and export resilience. Data from China Construction Machinery Industry Association shows that sales in February alone surged 49.1% year-on-year, mainly due to the low base effect from the 2024 Spring Festival holiday.

Market Structure Analysis

• Domestic Market: 121,000 units sold in Jan-Feb (+6% YoY), benefiting from the continuous expansion of "Two Priorities" and "Two New Initiatives" policies, driving investment demand recovery in manufacturing and logistics sectors

• Export Market: Strong demand from post-war reconstruction regions such as Ukraine and Syria has become the main source of industry sales growth

• Product Structure: Penetration rate of lithium battery counterbalance forklifts continues to rise, reaching only 19% in 2023, indicating vast potential for replacing fuel-powered forklifts in the future

![2025 Jan-Feb Forklift Sales Composition]

Leading Enterprises Accelerate Global Layout

Anhui Heli: First Overseas Factory Established in Thailand

On March 11, Anhui Heli announced plans to establish a joint venture Heli Thailand Company with Thai enterprises, with a registered capital of 426 million yuan and 75% shareholding. The factory plans to produce 10,000 forklifts and 10,000 lithium battery packs annually, marking Anhui Heli's first overseas localized production.

Strategic Significance: The Thailand base will serve as a strategic pivot radiating the ASEAN market, reducing tariffs and transportation costs while improving service response efficiency

Hangcha Group: Deepening Layout in North America and Middle East

Hangcha Group is strengthening its global marketing network through regional subsidiaries:

• Established US Intelligent Logistics Company in December 2024, focusing on intelligent warehousing system integration

• Launched Middle East company in Dubai, UAE in November 2024, planning to establish an operational leasing system

![Forklift Enterprises' Overseas Layout]

Technology Development Trends: Dual Drive of Intelligence and New Energy

Accelerated Intelligent Transformation

Rising labor costs in the logistics industry are driving accelerated penetration of intelligent solutions. It is estimated that 80% of logistics operation costs come from labor, leading to growing demand for automated forklifts, AGVs and similar equipment. Domestic leading enterprises have launched in-depth布局：

• Anhui Heli: Building intelligent logistics ecosystem through mixed-ownership reform, acquisitions (e.g., Yufeng Intelligent) and cooperation with Huawei

• Hangcha Group: Increasing investment in intelligent warehousing system integration business

New Energy Forklifts Become Mainstream

The electric forklift market is expected to maintain rapid growth in the coming years. With continuous technological progress, new energy forklifts, automated forklifts and other emerging products will gradually expand their market share. In particular, the maturity of lithium battery technology has greatly improved the range and service life of electric forklifts while reducing maintenance costs.

H2 2025 Market Outlook

| Domestic Market | Sustained policy support, manufacturing recovery | Demand for intelligent warehousing system upgrades | 

| Export Market | Strong growth in emerging markets, especially Southeast Asia and Middle East | Equipment procurement demand from post-war reconstruction countries | 

| Technological Innovation | Intelligentization, networking, lightweighting | Integration of automated forklifts with industrial internet | 

| Aftermarket | Forklifts exported since 2021 entering maintenance cycle | Growing demand for parts replacement and services |

![Forklift Industry Technology Development Roadmap]

Strategies for Parts Enterprises

Seizing Export Growth Dividend

As domestic forklift enterprises accelerate overseas, parts suppliers should:

1. Establish overseas parts warehouses to shorten delivery cycles

2. Develop adaptive parts for different regional markets (e.g., heat dissipation systems for high-temperature regions)

3. Conduct synchronized R&D with OEMs to preemptively core components for intelligent forklifts

Focus on New Energy and Intelligent Parts

Key high-growth parts areas to focus on:

• Lithium battery packs and management systems

• Intelligent control systems and sensors

• Automated navigation components

• Remote monitoring and diagnostic modules

Data Insight: Forklifts exported since 2021 have gradually entered the aftermarket service cycle, making maintenance and parts replacement emerging growth drivers

Conclusion

The forklift industry showed positive momentum in H1 2025 with "steady domestic demand growth, outstanding export performance, and accelerated technological iteration". As leading enterprises deepen global布局 and promote intelligent transformation, the industry is entering a new stage of high-quality development. For parts trading enterprises, grasping the three major trends of new energy adoption, intelligentization, and internationalization will be key to winning future market competition.

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