ASEAN: Market for Self-Propelled Fork-Lift Trucks with Non-Electric Motor 2024

Market Size for Self-Propelled Fork-Lift Trucks with Non-Electric Motor in ASEAN

The ASEAN self-propelled non-electric fork-lift truck market surged to $X in 2022, growing by 29% against the previous year. The total consumption indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +93.7% against 2016 indices. Over the period under review, the market attained the peak level in 2022 and is likely to continue growth in years to come.

Production of Self-Propelled Fork-Lift Trucks with Non-Electric Motor in ASEAN

In value terms, self-propelled non-electric fork-lift truck production skyrocketed to $X in 2022 estimated in export price. Overall, production enjoyed measured growth. The most prominent rate of growth was recorded in 2020 with an increase of 269%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Exports of Self-Propelled Fork-Lift Trucks with Non-Electric Motor

Exports in ASEAN

In 2022, overseas shipments of self-propelled fork-lift trucks with non-electric motor increased by 15% to X units, rising for the second year in a row after two years of decline. Total exports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +28.7% against 2020 indices. The pace of growth appeared the most rapid in 2018 when exports increased by 59%. As a result, the exports attained the peak of X units. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, self-propelled non-electric fork-lift truck exports contracted to $X in 2022. In general, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by 50%. As a result, the exports reached the peak of $X, and then dropped in the following year.

Exports by Country

Singapore represented the largest exporter of self-propelled fork-lift trucks with non-electric motor in ASEAN, with the volume of exports reaching X units, which was approx. 62% of total exports in 2022. It was distantly followed by Vietnam (X units), Thailand (X units) and Malaysia (X units), together committing a 36% share of total exports.

Exports from Singapore increased at an average annual rate of +1.0% from 2012 to 2022. At the same time, Vietnam (+30.9%) and Thailand (+21.5%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +30.9% from 2012-2022. By contrast, Malaysia (-11.4%) illustrated a downward trend over the same period. Vietnam (+15 p.p.) and Thailand (+11 p.p.) significantly strengthened its position in terms of the total exports, while Singapore and Malaysia saw its share reduced by -9.7% and -18.1% from 2012 to 2022, respectively.

In value terms, Vietnam ($X) remains the largest self-propelled non-electric fork-lift truck supplier in ASEAN, comprising 59% of total exports. The second position in the ranking was held by Singapore ($X), with a 26% share of total exports. It was followed by Thailand, with a 5.9% share.

In Vietnam, self-propelled non-electric fork-lift truck exports increased at an average annual rate of +58.8% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (-9.4% per year) and Thailand (+1.4% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per unit, dropping by -24.9% against the previous year. Overall, the export price continues to indicate a slight contraction. The pace of growth appeared the most rapid in 2020 when the export price increased by 39% against the previous year. The level of export peaked at $X per unit in 2021, and then dropped markedly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+21.3%), while the other leaders experienced a decline in the export price figures.

Imports of Self-Propelled Fork-Lift Trucks with Non-Electric Motor

Imports in ASEAN

In 2022, supplies from abroad of self-propelled fork-lift trucks with non-electric motor increased by 17% to X units, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 27% against the previous year. Over the period under review, imports reached the maximum at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, self-propelled non-electric fork-lift truck imports soared to $X in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Thailand (X units), Indonesia (X units), Vietnam (X units), Malaysia (X units), the Philippines (X units) and Singapore (X units) represented roughly 97% of total imports in 2022.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +14.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Thailand ($X) and Vietnam ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 73% share of total imports.

Vietnam, with a CAGR of +13.0%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per unit in 2022, with an increase of 9% against the previous year. Overall, the import price, however, showed a pronounced reduction. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Indonesia ($X per unit), while Singapore ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+0.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform