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BITA predicts small upturn in fork lift market in 2010

12 December 2012

BITA has predicted a modest recovery for the lift truck market in 2010 with prospects for stronger growth in the medium term.

BITA has predicted a modest recovery for the lift truck market in 2010 with prospects for stronger growth in the medium term tempered by an uncertain economic situation and considerable risk factors.

Compared with 2009, shipments of counterbalance trucks are expected to increase by 1.8% to 8,500, and shipments of warehouse trucks are expected to increase by 6.8% to 8,900.

Orders of counterbalance trucks are expected to increase by 15.3% to 9,800, while orders of warehouse trucks are expected to increase by 7.8% to 9,766.

The forklift truck market underwent one of its sharpest contractions in 2009 with shipments falling by over 41% and bookings down nearly 34% as underlying demand diminished in the first half of the year and latter part of 2008.

James Clark, secretary general of BITA, said: “We're heartened by the positive trends evident in our latest Economic Forecast, both in terms of specific economic measures and indicators such as the Purchasing Managers' Survey, CBI Business Optimism and UK Manufacturing Investment Intentions.

“These provide a strongly optimistic counterpoint at time when investment intentions remain weak and business sentiment is still a little fragile.”

Oxford Economics, which produced the findings on behalf of BITA, said truck sales were closely linked to rise and fall in GDP, so predictions were likely to be affected by factors influencing the economy as a whole.

For Oxford Economics' analysis of the overall economy see story below.



UK truck shipments forecast

2008 -3.1%
2009 -41.1%
2010 4.1%
2011 25.9%
2012 18.9%
2013 13.4%
2014 5.9%

(% change on previous year)
 
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