American trade magazine Modern Materials Handling has in its August 2010 edition, named Toyota Industries Corporation (TICO) the global number one in material handling equipment based on its worldwide 2009 financial year forklift truck revenue.
TICO is the world's leading supplier of forklift trucks and the parent company of Toyota Material Handling Australia (TMHA).
TICO earned total revenues of US$ 4.6 billion (approximately AUD$ 5 billion) from forklift truck sales in 2009.
Modern Materials Handling had previously named TICO worldwide number one in 2008, and said the top five had not changed in 2009.
The top five list includes Toyota Industries Corp (Toyota and Raymond), Kion Group (Linde), Jungheinrich Lift Truck Corp, Crown Equipment Corp and NACCO Industries (Hyster and Yale).
TICO's nearest rival Kion Group had revenues of US$ 4.1 billion while Jungheinrich reached US$ 2.3 billion in 2009.
The magazine's Top 20 list of annual forklift truck suppliers is based on worldwide revenue from powered industrial trucks during the company's most recent financial year.
To be eligible for the list, suppliers must manufacture and sell lift trucks in at least one of the Industrial Truck Association's seven forklift truck classes including electric motor rider trucks, electric motor hand trucks, internal combustion engine trucks, pneumatic tyre trucks, electric and internal combustion engine tow tractors as well as rough-terrain lift trucks.
TICO's material handling division, Toyota Material Handling Group (TMHG) has five regional organisations covering Japan, China, North America, Europe and International.
It is the market leader in Japan and North America with more than 20 per cent market share.
TMHA president Steve Harper said TICO's success was built on its industry-leading investment in research and development.
"Yet another world number one ranking from Modern Materials Handling magazine simply reaffirms Toyota's commitment to quality, safety, reliability and the environment - and that is there for all to see in our forklifts and warehouse equipment," he said.
"Toyota has also developed the world's best manufacturing system, known as the Toyota Production System (TPS).
"Those are the keys to Toyota maintaining its industry-leading reputation for reliability, quality and safety."
Toyota has been exporting forklift trucks from Japan since 1958 and entered the Australian market 10 years later.
The company has led the Australian counter-balance forklifts market continuously for 23 years.
TMHA distributes the Toyota Industrial Equipment range of industrial equipment, along with BT lift truck and Raymond forklift ranges of warehouse equipment.