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Procurement Market Intelligence Report

Industrial Trucks
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Industrial Trucks?

What is the average price of Industrial Trucks?

This procurement report includes pricing information to help you purchase Industrial Trucks. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.

Has the price of Industrial Trucks been rising or falling?

Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.

I’m not ready to purchase Industrial Trucks yet. Will I pay more if I wait too long?

We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.

What other costs are associated with purchasing Industrial Trucks?

Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Industrial Trucks with a reduced risk of unexpected costs.

See how we display average pricing information, trends and market data.

Find the vendor to meet your needs

Where can I purchase ?

According to ProcurementIQ estimates, there are about 1535 suppliers of industrial trucks across the United States. The top four suppliers (Hyster-Yale Materials Handling, Home Depot, W.W. Grainger and Lowe's Companies) account for less than 20.0% of revenue, indicating low market share concentration. Smaller manufacturers and distributors generate the rest... Subscribe to learn more.

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Experience and Expertise

How long have you provided these products to your longest-tenured client?

What qualifications does your staff have and what measures do you take to keep those qualifications up to date?

What industry do you most commonly supply this product for?

To what extent will ordering multiple products from your firm allow me to save on costs?

What is your repeat business rate for businesses in my industry and how does that compare to your overall rates?

Supply Chain Risk

Over the past three years, what percentage of your revenue has been dedicated to raw input materials? How has that changed?

Has the availability of raw materials tightened due to the coronavirus outbreak?

Over the past three years, what percentage of your revenue has been dedicated to labor?

How have fluctuations in input prices affected the prices of your products during the past three years?

How do you mitigate sudden price increases in raw materials?

When input prices rise, how much of the cost is absorbed by you and how much is passed onto buyers?

How, if at all, has your supply chain been affected by import tariffs levied in 2018?


How do you manage regulatory change? Do you have regulation advisers or methods to track regulation?

How have changing regulations influenced your pricing now and how will the changes affect prices over the life our proposed agreement?

What ongoing training procedures do you provide for your staff?

Have you ever been found to be noncompliant with regulatory frameworks?

Amid widespread health concerns during the COVID-19 pandemic, what contingency plans are in place to mitigate risk to your clients and employees? Do you offer clients any flexible exceptions, such as contract suspensions?


How long have you been in the industrial truck market?

How do your products differ from your competitors'?

What industry do you most commonly supply your products to?

How do you stay competitive in the market?

Who are your biggest competitors and what sets you apart from them?

How does your customer service differ from competitors'?

How broad is your selection of industrial trucks in relation to your competitors'?


Do you source materials with high exposure to market disruptions resulting from the coronavirus? How are you coping with these disruptions?

How diversified is your supplier base for inputs? Do you source from multiple suppliers in different global regions?

Amidst widespread health concerns, what contingency plans are in place to mitigate risk to your clients and employees? Do you offer clients any flexible exceptions, such as contract suspensions?

Are you experiencing fluctuations in demand as a result of the coronavirus outbreak? What measures are you taking to handle increased/reduced demand?

Product Quality

Are your trucks assembled by hand or by machine? Does this method provide an advantage over other methods?

Do you employ quality control personnel or systems? If so, how many staff members and what kinds of systems do you use?

What grade and thickness of metal goes into the production of your industrial trucks?

How long will your industrial truck last with heavy use?

Supply Chain Risk

How have your production costs changed during the past three years?

How do input price fluctuations affect your clients?

What do you do to offset increases in production costs?

What are the criteria for picking the manufacturers or suppliers you partner with?

How often do you evaluate your supply costs to ensure they are competitive?

Customer Service

How many staff members are responsible for customer service and support?

What kinds of repairs and services are included in the warranty (if applicable)?

What procedures do you use to deal with dissatisfied customers?

What incentives do you offer to repeat customers or referrals, if any?

Cost Structure

How have you adjusted your costs to increase efficiency in production?

How do your manufacturing costs compare to your competitors'?

When was the last time you invested in new production equipment?

Do you have an example of a decision made by management that controlled costs and increased efficiency?


Do you have multiple distribution centers?

Where do you have distribution centers located?

What is the average shipping time and cost?

What is the most cost-effective shipping method?

Do you ship anywhere in the country?

Have you had issues in the past year regarding late shipments?

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Key elements for every RFP

What should my RFP include?

Project Budget

Buyers should explicitly state the amount of the contract award.

Buyers should explain when and how many payments will be made.

Buyers can consult the Benchmark Price section of this report to determine how much they should pay for each industrial truck.

Selection Criteria

Buyers should evaluate the experience of the supplier.

Buyers should make sure the provider offers industrial trucks with the appropriate specifications.

Buyers should evaluate suppliers based on the estimated costs of the units they are offering.

For a detailed list of key selection criteria, buyers should reference the Buying-Decision Scorecard section of this report.

Project Schedule

Buyers need to include the date proposals are due and when award information will be available.

Buyers should include any other benchmark dates relevant to the project that suppliers will need to be aware of.

Evaluate major factors to mitigate risk

How risky is the supply chain?

The supply chain for industrial trucks has a high level of risk. Many upstream suppliers generate low profit margins and rely on volatile inputs, making price spikes and supply shortages a constant threat to the financial health of these suppliers. Among upstream suppliers, iron and steel manufacturers and petrochemical manufacturers... Subscribe to learn more.