Hyster-Yale Materials Handling, a leading manufacturer of lift trucks and after-market parts, has projected a decline in the global lift truck market for the fourth quarter of this year, as compared to the same period last year. However, the company remains optimistic about next year’s global market bookings, stating that they are expected to be generally comparable to 2023 levels. Hyster-Yale anticipates a first-half decline in bookings, which will be offset by an increase in the second half.
Continued Strength in Market Unit Volumes
Despite the anticipated decline in the fourth quarter of this year, Hyster-Yale expects market unit volumes to remain robust and above pre-pandemic levels in most regions. The company acknowledges that various external market factors, such as geopolitical instability highlighted by the recent Israel/Gaza conflict, have contributed to a sense of uncertainty in the global economic environment. Additionally, due to unusually high volumes during the pandemic period from 2020 to 2022, market activity has been moderating in certain parts of the world, especially in EMEA (Europe, Middle East, and Africa) in the year 2023.
Hyster-Yale Materials Handling is closely monitoring these factors and adjusting its strategies accordingly to ensure its continued success in the lift truck market.