ASEAN: Non-Self-Propelled Fork-Lift Truck Market 2024

Non-Self-Propelled Fork-Lift Truck Market Size in ASEAN

The ASEAN non-self-propelled fork-lift truck market amounted to $X in 2022, rising by 2.8% against the previous year. The market value increased at an average annual rate of +1.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Non-Self-Propelled Fork-Lift Truck Production in ASEAN

In value terms, non-self-propelled fork-lift truck production totaled $X in 2022 estimated in export price. In general, production, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2015 when the production volume increased by 117% against the previous year. Over the period under review, production attained the peak level at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Non-Self-Propelled Fork-Lift Truck Exports

Exports in ASEAN

In 2022, non-self-propelled fork-lift truck exports in ASEAN declined to X units, waning by -7.3% against the previous year. In general, exports, however, saw a significant increase. The growth pace was the most rapid in 2014 with an increase of 288%. The volume of export peaked at X units in 2021, and then declined in the following year.

In value terms, non-self-propelled fork-lift truck exports fell to $X in 2022. Over the period under review, exports, however, recorded a prominent increase. The pace of growth appeared the most rapid in 2018 with an increase of 38% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

In 2022, Vietnam (X units) represented the largest exporter of non-self-propelled fork-lift trucks, constituting 70% of total exports. It was distantly followed by Malaysia (X units), generating a 29% share of total exports.

Vietnam was also the fastest-growing in terms of the non-self-propelled fork-lift trucks exports, with a CAGR of +85.7% from 2012 to 2022. At the same time, Malaysia (+60.0%) displayed positive paces of growth. While the share of Vietnam (+63 p.p.) and Malaysia (+16 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) and Malaysia ($X) appeared to be the countries with the highest levels of exports in 2022.

In terms of the main exporting countries, Vietnam, with a CAGR of +46.6%, recorded the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per unit, therefore, remained relatively stable against the previous year. Overall, the export price continues to indicate a sharp slump. The growth pace was the most rapid in 2018 an increase of 9.5% against the previous year. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Malaysia ($X per unit), while Vietnam stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (-21.1%).

Non-Self-Propelled Fork-Lift Truck Imports

Imports in ASEAN

In 2022, overseas purchases of non-self-propelled fork-lift trucks increased by 48% to X units, rising for the second year in a row after two years of decline. Total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +60.3% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, non-self-propelled fork-lift truck imports skyrocketed to $X in 2022. Overall, imports, however, showed a perceptible decrease. The pace of growth appeared the most rapid in 2021 with an increase of 19%. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Vietnam (X units), Thailand (X units) and Singapore (X units) was the largest importer of non-self-propelled fork-lift trucks in ASEAN, creating 77% of total import. Malaysia (X units) ranks next in terms of the total imports with a 10% share, followed by Indonesia (7.4%). The Philippines (X units) took a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Singapore (with a CAGR of +17.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Vietnam ($X) and Malaysia ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 71% share of total imports.

In terms of the main importing countries, Vietnam, with a CAGR of +0.7%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in ASEAN stood at $X per unit in 2022, declining by -21.4% against the previous year. In general, the import price showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 when the import price increased by 9.1%. Over the period under review, import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (-1.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform