Forklift Market Poised for Gradual Recovery as Confidence Builds from 2026
Forklift Market Poised for Gradual Recovery as Confidence Builds from 2026
Following 2025—a year marked by deferred investments, rising costs, and weakening confidence—the UK forklift truck market is not in retreat but rather experiencing a controlled adjustment period. The latest UK Forklift Truck Market Outlook, prepared by Oxford Economics for the UK Material Handling Association (UKMHA), shows that sectoral prospects are set to improve gradually from 2026 onwards.
According to the report, throughout 2025 businesses remained cautious about renewing forklift fleets due to increased financing costs and economic uncertainty. Companies largely shifted toward short-term leasing models or postponed investment decisions. However, 2026 is expected to see renewed investment appetite as inflation moderates and financing conditions improve.
UKMHA CEO Rob Fisher stated that the sector showed significant resilience in 2025, but projections beyond 2026 are encouraging. Emphasizing that "The fundamentals of our industry remain strong," Fisher highlighted the sector's long-term durability and expressed confidence that investments will return as the confidence environment improves.
An industry survey conducted among UKMHA members points to a similar picture. Some manufacturers have reported partial improvement in order books, though overall confidence levels remain fragile. Nevertheless, rising optimism is evident for the period beyond 2026; this optimism, consistent with economic forecasts, supports expectations of modest sales growth.
The report identifies 2026 as a pivotal turning point for the sector. Declining financing costs are expected as easing inflationary pressures and loosening monetary policy take effect. Additionally, reduced supply chain uncertainties are expected to drive total forklift orders to recover by 9.4 percent in 2026. This increase is expected to be broad-based:
Counterbalance truck orders: 8.2 percent growth
Warehouse truck orders: 10.1 percent rebound
This sharp rebound in the warehouse segment follows unexpected weakness seen in 2025 due to slowdown in e-commerce and consumer spending. Sales of Class 3 pedestrian-controlled trucks, which approached record levels in 2024, are expected to decline sharply in 2025 before seeing only modest recovery in 2026.
Projections for 2027 show growth continuing at a more steady pace within a normalized investment cycle.
According to the report:
Counterbalance orders: 6.5 percent growth
Warehouse orders: 1.9 percent growth
This picture signals a transition from the volatile investment cycles of the pandemic era toward a more sustainable and predictable market structure.
Rob Fisher also noted that new entrants to the market are strengthening sector confidence. The IMHX logistics solutions show in 2027 will serve as an important showcase for both new and established suppliers. Fisher remarked, "Transition should not be misread as decline. It is preparation," underscoring that the sector has emerged strengthened from past transition periods and will do so again.
Finally, Fisher emphasized that preparations for IMHX 2027 should begin in early 2026, which will create significant opportunities particularly for competitive and collaborative companies. The resilience and long-term growth potential of the UK forklift sector are among the key messages of the report.
Key Points:
2025 has been challenging, but the sector is in an "adjustment" phase, not a "retreat."
A 9.4 percent rebound in orders is expected in 2026.
Counterbalance: +8.2 percent, warehouse segment: +10.1 percent.
Slower but steady growth is projected for 2027.
Fleet renewals, declining inflation, and improved financing conditions support the recovery.
IMHX 2027 will be an important meeting point for new and existing suppliers.
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Author: SedatOnat.com
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