IBIS World Forklift Research Report Shows Buying Power, Other Interesting Market Trends
Posted by: admin on January 21, 2014
The latest forklifts procurement research report from IBISWorld shows increased buying power for businesses dealing with forklift suppliers and manufacturers. This, along with other emerging market conditions, sheds a favorable light on the overall forklift market – and that means better value for both new and used forklift purchases.
IBISWorld’s unique ranking system gives forklifts a buyer power score of 3.2, which means a balanced relationship between buyers and suppliers. The rating scale ranges from 1 to 5. A score of 1 indicates low buying power, and a score of 5 means high buying power. With a 3.2, the forklift market offers good value on both ends of the buyer-seller relationship.
The forklift market has a large number of suppliers and producers (including Komatsu Ltd., Mitsubishi Electric and Toyota Industries Corporation). Because of this, forklift buyers are able to research and purchase with greater purchasing power. A greater supply, in other words, helps keep costs stable – something that forklift buyers (warehouses, 3rd party logistics companies, dockyards, etc.) use to their advantage.
The IBISWorld report also showed how a forklift’s motor and maintenance schedule are two major factors that impact both upfront and ongoing costs. Since most forklift buyers are repeat customers, there are few “hidden surprises” when calculating purchasing price.
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For more information, please visit the IBISWorld forklifts procurement research page.
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