Today’s forklift buyers want a good price for the equipment they’ll buy in the next few years…but they also want those forklifts to last many years, and to come with high-quality service.
That’s the primary result of the annual study by Modern Materials Handling Magazine. The study analyzed the material handling industry’s behavior & planning around the use of lift trucks/forklifts.
The results show valuable data that can help you with future forklift acquisition & lifecycle management.
3 Key Insights from 200 Forklift Buyers
The 2024 survey revealed that buyers look beyond purchase price when making buying decisions, and that service after the sale is a key factor in selecting a lift truck for purchase or leasing.
Also, more companies are using electric lift trucks and pallet trucks than they were last year. In 2023, 55% of survey respondents said they used electric rider trucks in their facilities. In the 2024 survey, this number rose to 58%.
Additional highlights from the survey:
- Electric lift trucks are the most commonly used in facilities (58% of total), followed by electric narrow aisle trucks (35% of total).
- The average age of lift trucks in currently operating fleets is 9 years. The average age for a fleet’s oldest truck is 15 years.
- The most important characteristic when evaluating purchase/lease is the price (68% selected), followed closely by the lift truck’s quality (61% selected) and safety rating (57% selected).
- 56% of respondents said they would likely buy/lease a lift truck within the next 24 months, compared to 61% last year. 40% of those respondents said they buy/lease 2-4 trucks in that time.
- Parts most likely to buy/replace: Wheels & Tires (59%), Batteries & battery accessories (50%).
- Only 28% of respondents said the economy and market factors had no/little impact on their purchasing decisions.
Use These Insights to Inform Your 2024/2025 Forklift Purchases
Surveys like these are extremely valuable to forklift distributors like us. They tell us where our customers’ priorities are, and what they’ll need from us going forward.
You can find additional results at the original survey page:
2024 Lift Truck Usage Survey – MMH.com
We hope they help your next purchase decision as well!