In July 2026, the Industrial Vehicles Branch of the Construction Machinery Industry Association
released the production and sales data for the first half of the year. It showed that from January to
June 2026, the total sales volume of industrial vehicles (motorized industrial vehicles, categories I-V)
across the industry reached 861,934 units. The monthly sales volume in June was 160,742 units,
an increase of 12.57% compared to May, and the market demand in the second quarter continued to
show an upward trend.
The total volume has grown steadily and increased by a ratio compared to the previous quarter
in the second quarter.
The cumulative sales volume for the first half of the year reached 861,900 units, and the sales trend
showed a sequential increase throughout the quarters. The sales volume in June was significantly higher
than that in May, with a month-on-month growth rate reaching double digits, indicating that the demand
from downstream manufacturing and warehousing logistics continued to be released.
The total social logistics volume maintained a steady growth, providing a basic support for the
demand for forklifts. From the product structure perspective, the trend of electrification has further
deepened. In the first half of the year, the cumulative sales volume of electric walking storage vehicles
(Class III) reached 527,095 units, accounting for more than 61% of the total sales volume, and it was the
absolute dominant model.
The cumulative sales volume of electric counterbalanced ride-on forklifts (Class I)
was 142,257 units, and the cumulative sales volume of internal combustion counterbalanced forklifts
(Classes IV + V) was 170,719 units. The total sales volume of counterbalanced forklifts (Classes I + IV + V)
was 312,976 units, and the total sales volume of storage vehicles (Classes II + III) was 548,958 units.
The total sales volume of electric forklifts (Classes I + II + III) was 691,215 units, accounting for 80.2%
of the total sales volume, and the penetration rate of electrification has reached a relatively high level.
The lithium battery technology has continued to progress, costs have continuously decreased, and in
combination with the stricter environmental policies, the advantages of electric forklifts in performance
and economy have become increasingly prominent. The industry is undergoing a profound transformation
from traditional power to new energy.
Outlooks of the latter half of the year
The growth trend is expected to continue. Looking at the second half of the year, the industry's growth
foundation remains solid. From the demand side, the recovery of the manufacturing sector and the
expansion of warehousing and logistics have continuously driven the demand for forklifts.
from the export side, the overseas market has broad prospects, and the deepening of domestic
enterprises' global layout will lead to a high growth rate in exports; from the product structure perspective,
the long-term trend of electrification and intelligence will not reverse, and the decline in lithium battery
costs and technological maturity will continue to promote the penetration rate of electric forklifts.
Overall, in the first half of 2026, the industrial vehicle industry delivered a solid performance report.
Driven by multiple factors such as the acceleration of electrification, high export growth, and the
implementation of intelligence, the industry's growth trend in the whole year is expected to be promising.
from the export side, the overseas market has broad prospects, and the deepening of domestic
enterprises' global layout will lead to a high growth rate in exports; from the product structure perspective,
the long-term trend of electrification and intelligence will not reverse, and the decline in lithium battery costs
and technological maturity will continue to promote the penetration rate of electric forklifts.
Overall, in the first half of 2026, the industrial vehicle industry delivered a solid performance report.
Driven by multiple factors such as the acceleration of electrification, high export growth, and the
implementation of intelligence, the industry's growth trend in the whole year is expected to be promising.
