Algeria: Fork-Lift Truck Market 2024

Fork-Lift Truck Market Size in Algeria

In 2022, the Algerian fork-lift truck market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption, however, recorded a abrupt curtailment. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market remained at a somewhat lower figure.

Fork-Lift Truck Exports

Exports from Algeria

In 2022, approx. X units of fork-lift trucks were exported from Algeria; waning by -8% compared with the previous year. Over the period under review, exports recorded a deep downturn. The pace of growth was the most pronounced in 2020 with an increase of 290% against the previous year. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, fork-lift truck exports soared to $X in 2022. Overall, exports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2014 with an increase of 362% against the previous year. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Nigeria (X units) was the main destination for fork-lift truck exports from Algeria, accounting for a 70% share of total exports. Moreover, fork-lift truck exports to Nigeria exceeded the volume sent to the second major destination, Italy (X units), fourfold. Portugal (X units) ranked third in terms of total exports with a 4.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Nigeria stood at -7.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+14.9% per year) and Portugal (-66.7% per year).

In value terms, Italy ($X) remains the key foreign market for fork-lift trucks exports from Algeria, comprising 57% of total exports. The second position in the ranking was taken by Portugal ($X), with a 21% share of total exports. It was followed by Nigeria, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Italy totaled +54.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (-39.7% per year) and Nigeria (-8.5% per year).

Export Prices by Country

The average fork-lift truck export price stood at $X per unit in 2022, picking up by 28% against the previous year. Over the period under review, the export price showed a buoyant increase. The pace of growth appeared the most rapid in 2019 when the average export price increased by 203%. As a result, the export price reached the peak level of $X per unit. From 2020 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Portugal ($X per unit), while the average price for exports to France ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Portugal (+81.0%), while the prices for the other major destinations experienced mixed trend patterns.

Fork-Lift Truck Imports

Imports into Algeria

In 2022, purchases abroad of fork-lift trucks increased by 22% to X units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, recorded a abrupt decline. The pace of growth was the most pronounced in 2015 when imports increased by 108%. As a result, imports reached the peak of X units. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, fork-lift truck imports soared to $X in 2022. In general, imports, however, recorded a pronounced descent. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest fork-lift truck supplier to Algeria, with a 80% share of total imports. Moreover, fork-lift truck imports from China exceeded the figures recorded by the second-largest supplier, the UK (X units), more than tenfold. Tunisia (X units) ranked third in terms of total imports with a 2.5% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +5.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+14.7% per year) and Tunisia (+18.8% per year).

In value terms, the UK ($X), China ($X) and France ($X) constituted the largest fork-lift truck suppliers to Algeria, together comprising 71% of total imports.

The UK, with a CAGR of +10.5%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average fork-lift truck import price stood at $X per unit in 2022, growing by 49% against the previous year. Over the period under review, the import price saw a noticeable increase. The most prominent rate of growth was recorded in 2016 an increase of 248%. As a result, import price reached the peak level of $X per unit. From 2017 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+46.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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