After years of development, the forklift industry in China has established a relatively consolidated market structure characterized by a two-tier differentiation. Currently, there are more than 170 member units registered with the Industrial Vehicle Branch of the China Construction Machinery Association. To secure a share of the market, the key is to break through the barriers in the forklift industry and achieve breakthrough development.

Currently, the forklift industry faces the following barriers:

1.Technical Research and Development Barrier:

In recent years, major manufacturers have increased efforts to introduce advanced technologies around the world. Through technology introduction, digestion, absorption, and innovation, along with long-term experience accumulation and practical exploration, they have developed their own core technologies as well as research and development systems, resulting in a high barrier to industry technology research and development.

2.Economies of Scale Barrier:

Major enterprises have the capacity to foster robust collaboration with suppliers. Leveraging this, they can procure raw materials and spare parts at relatively lower prices, leading to a substantial decrease in overall company costs. Moreover, extensive production enhances operational efficiency, guaranteeing a steady cash flow and reinforcing the company's prominent market standing. Consequently, a distinct barrier to economies of scale exists within the forklift industry.

3.Sales Channels and After-Sales Service Barrier:

Sales channels and after-sales service encounter barriers within the forklift industry. Creating a robust after-sales service network demands substantial initial investments in manpower and material resources, coupled with ongoing maintenance in subsequent periods. In the short term, meeting market demand is challenging, leading to notable obstacles in sales channels and after-sales services within the forklift industry.

As the leader in Chinese forklift market, LTMG is poised to market presence, technological innovation, and after-sales service to garner broader recognition and build trust among customers in the forklift industry, ultimately creating greater value in the future.

 （The source of this article is based on Forklift Industry Research Report, if there is any infringement, please contact our company to delete immediately）