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Biggest Forklift Manufacturer: Toyota Industries Corp.

Published time：

2026-06-26

Author：

Xin Hong Guang

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Xin Hong Guang

Abstract

Toyota Industries Corp. (TICO) is the world's largest forklift manufacturer, with 2024 revenue of $18.26 billion and a global market share of approximately 17%.Top Global Forklift Manufacturers by Revenue (2024)Rank Company 2024 Revenue1 Toyota Industries Corp. (TICO) $18.26B2 KION Group $8.96B3 Jungheinrich AG $5.60B4 Crown Equipment Corp. $5.29B5 Mitsubishi Logisnext Co. $4.44B6 Hyster-Yale $4.30B7 Anhui Forklift Group $2.51B8 Hangcha Group $2.29BKey Facts About Toyota Industries Corp.Global market share: Approximately 17%Unit shipments: Approximately 288,000 units in 20252025 product launches: More than 22 new electric forklift modelsR&D investment: Spending $1 million per hour on R&DBrand portfolio: Toyota, Raymond, and AichiGlobal footprint: Operations span North America, Europe, and Asia PacificThe bottom line: Toyota Industries Corp. is the undisputed global leader in forklift manufacturing, generating $18.26 billion in revenue with approximately 288,000 units shipped annual

Toyota Industries Corp. (TICO) is the world's largest forklift manufacturer, with 2024 revenue of $18.26 billion and a global market share of approximately 17%.


Top Global Forklift Manufacturers by Revenue (2024)

Rank Company 2024 Revenue

1 Toyota Industries Corp. (TICO) $18.26B

2 KION Group $8.96B

3 Jungheinrich AG $5.60B

4 Crown Equipment Corp. $5.29B

5 Mitsubishi Logisnext Co. $4.44B

6 Hyster-Yale $4.30B

7 Anhui Forklift Group $2.51B

8 Hangcha Group $2.29B

Key Facts About Toyota Industries Corp.

Global market share: Approximately 17%


Unit shipments: Approximately 288,000 units in 2025


2025 product launches: More than 22 new electric forklift models


R&D investment: Spending $1 million per hour on R&D


Brand portfolio: Toyota, Raymond, and Aichi


Global footprint: Operations span North America, Europe, and Asia Pacific


The bottom line: Toyota Industries Corp. is the undisputed global leader in forklift manufacturing, generating $18.26 billion in revenue with approximately 288,000 units shipped annually. The top five manufacturers—Toyota, KION, Jungheinrich, Crown, and Mitsubishi Logisnext—control approximately 59% of the global market.

Keywords：
biggest forklift manufacturer
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