Since December 2020, when the forklift industry experienced a record order month, orders have exploded month after month. The chart below shows just how strong the demand for forklifts has become.
If this trend continues, which we expect it to, orders for 2021 will be up over 60% from the previous 3 years. This increase, combined with shortages in microchips which manage so many functions on forklifts, as well as other supply-related delays due to Covid 19, have greatly elongated lead times for new equipment orders.
What may normally be a 10 week lead time for a new lift truck, has increased to 8 to 10 months, with some specialized equipment waiting over a year for delivery. This shortage of equipment has created a ripple effect into other areas of our industry, namely rentals and used equipment.
It is getting increasingly more difficult to obtain rental equipment and used equipment, as these are being used to plug the holes created by the delays in new equipment delivery. We do expect this to begin to ease as chip manufacturing begins to catch up, but it will be several months before this occurs. Chip manufacturers are simultaneously playing catch-up for automobiles, other heavy machinery as well as nearly any vehicle managed by electronic components, which is nearly all equipment!
We are suggesting to customers to plan their 2022 needs, and place those orders very soon in order to prevent delays for 2022 equipment needs. We will certainly keep all of you posted on the progress our industry makes and work hard as always to find you the equipment you need.
I have been dealing with PMT for over a decade. This is a family run business and each family member is talented in each division of business and a pleasure to deal with. I have peace of mind knowing PMT will perform with dependability and be there when we need them. From forklifts to pallet jacks I highly recommend them.
Mark was very informative and easy to work with as well as Kathy. We had a big meeting at our office and they accommodated us for two separate certification classes on the same day. Paul was also fantastic, our guys truly appreciated coming out to the office.
PMT Forklifts is the best!!! Year after year they always pull through on our super complex project in Rockefeller Center. The staff is super helpful and very attentive to our needs. Thank you PMT!!!
Fantastic! Incredible service. Reached out to so many companies for quotes and PMT was the most attentive and provided a great product. Highly highly recommend!!
Found PMT Forklift to be very professional, courteous and knowledgeable. Russ was always available when needed. Five stars.
Dan Gettinger- M. Schwartz & Gettinger Feather, Inc. (Hauppauge, NY)
We purchaser a used unit that looks like new. Gabriel was a pleasure to work with and I would recommend calling him if your are in the market