Capital Equipment News December 2023

propelled growth in the market. Post the pandemic, Toyota Material Handling experienced double-digit growth in market share from 2021 to 2022. “While this growth is expected to remain relatively strong this year, I do foresee a slowdown by 2024, given the cyclical nature of the business,” she adds. Bangazi says greater demand for electric, counterbalance and electric low- and high level warehouse equipment has shown the country is moving towards electric, warehousing and high stacking, most likely due to the increased cost of space. A greater focus on fuel efficiency and a reduction of carbon footprints (ahead of the carbon tax being implemented) means the majority of manufacturers are interested in battery-operated equipment as opposed to diesel. “Notably, the use of electric forklifts is a standard requirement for the agricultural, food production, distribution and wine export industries, even as South Africa continues to grapple with loadshedding,” adds Bangazi. “In 2021, our strategy was to pursue the markets we didn’t have. Since then, we have grown new business significantly. This strategy was underpinned by our commitment to improving our customer interactions and service support infrastructure and empowering and developing our employees,” says Bangazi. Going forward, the industry – like so many others in the country – has several challenges to deal with, including loadshedding, interest rate adjustments, the exchange rate, a lack of skilled labour, inadequate infrastructure, and limited access to financing, amongst others. Bangazi says loadshedding is a massive issue for Toyota Material Handling customers. “Loadshedding diminishes our customers’ ability to achieve their goals, which means they have to make cost-saving decisions such as whether to invest in new material handling equipment or rent it - to stay afloat.” The challenges customers face mean they take longer to make decisions, sometimes deliberating on tenders for a long time before they are awarded. “It is important to be able to read the market and act accordingly. Being agile is critical because waiting for things to change does not come with any guarantees,” adds Bangazi. In addition to agility, Bangazi says the business understands how important it is for executives to support its sales force and understand their challenges. Matching global trends Strong growth and increased competition are to fuel forklift industry innovation

The Bobcat range for logistics and material handling will be launched on 1 January 2024.

South Africa’s materials handling industry anticipates a robust 2024, driven by strategic initiatives, technological integration, and industry dynamics.

Toyota Material Handling experienced double-digit growth in market share from 2021 to 2022, though a slowdown is foreseen for 2024.

The global forklift industry is expected to grow by 50% between 2022-32, with a forecasted 4-5% growth in shipments to 2032.

Shamrock Handling Concepts introduced the new generation Moffett M5 and M8 NX series, which offers reduced cost of ownership.

QUICK TAKE

“The investment in these versatile forklift trucks is reduced cost of ownership, because one machine can efficiently handle various tasks and maintenance requirements are minimal. In addition, users can easily transport these lightweight machines from one site to another on almost any truck or trailer.”

Brenton Kemp, Managing Director, Shamrock Handling Concepts

TALKING POINT

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