The "internal competition" and "breakthrough" in the forklift industry: How small and medium-sized brands can break through

The "internal competition" and "breakthrough" in the forklift industry: How small and medium-sized brands can break through

Currently, the forklift industry in our country is experiencing a development trend of "increased volume but slower profit growth". In 2024, the total industry sales reached 1.2855 million units, with a year-on-year growth of 9.52%. However, the market share of the two dominant players in the domestic market exceeded 50%, and the price war intensified. The survival space for small and medium-sized brands continued to be under pressure. Amid the wave of industry consolidation, Shandong Bojun Intelligent Technology Co., Ltd., as a small and medium-sized brand specializing in electric forklifts, has taken a unique path of breakthrough through a firm green transformation strategy, precise technological innovation, and differentiated market positioning. This has provided valuable experience for similar enterprises in the industry.

The internal competition predicament:

Under the intensified internal competition, small and medium-sized brands generally face multiple challenges. On one hand, the fierce competition in the mid-to-low-end market is highly homogenized, and some enterprises blindly lower prices to seize market share, resulting in a significant compression of industry profit margins. On the other hand, fluctuations in raw material prices and the increase in environmental protection requirements have further raised production and operating costs. Against this backdrop, Shandong Bojun, established in 2018, did not follow the trend into the price war but precisely targeted the new energy sector, establishing the core strategy of "green development and intelligent upgrade", avoiding the red ocean competition of traditional diesel forklifts.

The breakthrough approach:

First:

Green transformation has become the primary strategy for Bojun's breakthrough. Facing the opportunities of the new energy industry development, Bojun decisively abandoned the traditional diesel power system and fully focused on the research and production of lithium-ion forklifts. All products are equipped with full AC asynchronous motors and lithium batteries, achieving zero pollution, zero emissions, and low energy consumption advantages. Compared with the drawbacks of traditional DC motors requiring regular carbon brush replacement and the cumbersome maintenance of lead-acid batteries, the use of full AC asynchronous motors is lighter in weight, more efficient, and maintenance-free, while lithium batteries have the significant advantages of fast charging, long lifespan, and maintenance-free, precisely meeting the environmental and efficient requirements of indoor operations in industries such as food, medicine, and e-commerce logistics. After resuming work in 2025, Bojun's several production lines were operating at full capacity, and orders had been scheduled until May of the same year.

Second:

Technological innovation builds core competitiveness, providing a key support for Bojun to break away from the homogenization competition. As a high-tech enterprise and a specialized and innovative small and medium-sized enterprise, Bojun has formed a professional R&D team of over 30 people and has deep cooperation with international renowned motor controller experts, developing a series of intelligent control systems for forklifts and lithium battery BMS management systems, effectively extending product lifespan and improving charging efficiency. By the end of 2025, the company had 12 patents, including core technologies such as "An Automatic Gear Shift Structure for an Electric Loader Transmission", significantly improving the stability and operational convenience of the products. At the same time, Bojun deepened academic-industry-research cooperation and successfully developed an economic model for electric forklifts, ensuring performance while reducing production costs, further expanding the market coverage.

Third:

Deeply specializing in specific scenarios and global expansion, provide new growth space for Bojun. In response to the individualized needs of different industries, Bojun precisely focuses on specific markets and launches characteristic products such as 3.5T short-axis high-end articulated four-wheel rough terrain forklifts, equipped with customized configurations such as heavy-duty traction and dual pump pneumatic braking, capable of easily handling complex terrain operations such as hills, mines, and outdoor construction sites. With its hard-core performance, it gains market favor. While steadily expanding the domestic market, Bojun actively promotes global expansion, optimizing service systems and deepening partnerships to continuously increase its market share in overseas markets. Currently, its products, with high cost-effectiveness and green environmental advantages, have gradually opened up the international market, becoming a representative of small and medium-sized brands' breakthrough in going global.

"In the context of intensified internal competition, small and medium-sized brands can only break out of the predicament by persisting in innovation and accurately positioning themselves." The person in charge of Shandong Bojun Intelligent Technology Co., Ltd. stated that in 2025, the company will focus on digital transformation, green sustainable development and global expansion, increase research and development investment, and strive to double its production volume. Industry experts pointed out that Bojun's breakthrough practice proves that small and medium-sized brands do not need to engage in vicious competition in the homogenized market. By relying on technological innovation, delving deeply into the green sector, focusing on specific demands, and expanding overseas markets, they can seize the initiative in the industry transformation. In the future, with the deep integration of new energy and intelligent technologies, more small and medium-sized brands like Bojun are expected to leverage their differentiated advantages and inject new vitality into the high-quality development of the forklift industry.