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Forecast of market trends for forklift parts

1) Foreign-invested brand forklift enterprises set up factories in China to accelerate the development of China's parts market
With the development of China's forklift industry in depth, many foreign companies have accelerated their investment in China, which will definitely drive the development of the domestic forklift parts market.
(2) New energy forklift parts will become investment hotspots
China has already included new energy vehicles in strategic emerging industries, and the popularity of new energy forklifts is more advantageous than that of automobiles. Under this situation, investment in domestic new energy forklifts and key components will continue to increase.
(3) Mergers and acquisitions and overseas mergers and acquisitions will gradually accelerate
The intensified price war in the vehicle market is also eroding the profit margin of the parts industry, and the requirements for OEMs to reduce costs and ensure profits are becoming more and more demanding. However, although the scale of output value of China's forklift parts industry is large but it does not play a scale effect, the integration and restructuring of the forklift parts industry is also imperative. It is foreseeable that China's forklift parts industry will enter the stage of accelerated integration in the next few years. On the one hand, it can achieve scale effect through horizontal and vertical integration between domestic enterprises; on the other hand, through overseas mergers and acquisitions to achieve production, market and other resources in the world. Optimized configuration of the range and gained advanced technology and management experience.
(4) Cluster development will drive rapid growth of regional economy
The sales volume of forklift trucks in East China, South China, Central China and North China accounted for more than 80% of domestic sales. The parts and components industry has basically formed industrial clusters in the country. The industrial clustering makes the division of labor more elaborate, more professional, and easier to achieve scale, so that the information is more concentrated and faster, the pace of technological innovation is faster, logistics is easier to organize, and economic benefits are significantly improved.
(5) Changes in product development strategies, collaborative development between mainframe plants and supporting enterprises
Forklift parts companies will transform their product development strategies from a single independent research and development to a model of independent research and development, collaborative development, cooperative development, and technology introduction. By cooperating with other companies, they will develop and upgrade technologies and products to build a benign industry competitive environment. 


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