| SIC Codes: | 3531 3535 3537 |
| NAICS Codes: | 333922 333923 333924 |
Companies in this industry manufacture material handling machinery and equipment including forklifts, conveyors, elevators and escalators, and overhead cranes and hoists. Major companies include Hyster-Yale, Intelligrated, Otis Elevator, and Terex (all of the US), Cargotec and Konecranes (both of Finland), Daifuku (Japan), Jungheinrich AG (Germany), Manitou (France), Schindler Holding (Switzerland), and Shanghai Zhenhua Heavy Industries (China).
Demand is driven by overall industrial production and companies' need to automate production and facilitate the efficient flow of goods to market. The profitability of individual companies depends on product innovation and efficient operations. Large companies have economies of scale in purchasing and greater ability to offer a wider range of products to a diverse customer base. Small companies can compete by specializing in niche products. Overall, the industry is concentrated: the top 50 companies account for 60 percent of industry revenue. Some segments of the industry are highly concentrated: the top 50 elevator companies and the top 50 makers of cranes and hoists each account for more than 90 percent of segment revenue.
Major products include industrial trucks such as forklifts, hand trucks, and pallet jacks and stackers (35 percent of industry revenue); overhead crane, hoist, and monorail systems (30 percent); conveyors and conveyor equipment (25 percent); and escalators, moving walkways, and passenger and freight elevators (10 percent).