Asia-Pacific: 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 Asia-Pacific

The Asia-Pacific self-propelled non-electric fork-lift truck market rose markedly to $X in 2022, with an increase of 5.3% against the previous year. Overall, consumption, however, recorded a slight shrinkage. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

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

In value terms, self-propelled non-electric fork-lift truck production rose markedly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the production volume increased by 30% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

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

Exports in Asia-Pacific

For the third year in a row, Asia-Pacific recorded growth in shipments abroad of self-propelled fork-lift trucks with non-electric motor, which increased by 18% to X units in 2022. Overall, exports continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 45% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in the near future.

In value terms, self-propelled non-electric fork-lift truck exports surged to $X in 2022. Total exports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.1% 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 +102.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 55% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

China prevails in exports structure, finishing at X units, which was approx. 80% of total exports in 2022. It was distantly followed by South Korea (X units) and Japan (X units), together comprising a 16% share of total exports.

China was also the fastest-growing in terms of the self-propelled fork-lift trucks with non-electric motor exports, with a CAGR of +12.7% from 2012 to 2022. South Korea experienced a relatively flat trend pattern. Japan (-6.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by +33 percentage points.

In value terms, China ($X) remains the largest self-propelled non-electric fork-lift truck supplier in Asia-Pacific, comprising 66% of total exports. The second position in the ranking was taken by South Korea ($X), with a 17% share of total exports.

In China, self-propelled non-electric fork-lift truck exports increased at an average annual rate of +12.3% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (+3.5% per year) and Japan (-4.6% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per unit, rising by 11% against the previous year. In general, the export price, however, continues to indicate a slight decline. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+2.9%), while the other leaders experienced mixed trends in the export price figures.

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

Imports in Asia-Pacific

In 2022, purchases abroad of self-propelled fork-lift trucks with non-electric motor increased by 18% to X units, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +3.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 33% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, self-propelled non-electric fork-lift truck imports surged to $X in 2022. In general, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 34% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Australia (X units) represented the main importer of self-propelled fork-lift trucks with non-electric motor, committing 30% of total imports. Thailand (X units) ranks second in terms of the total imports with a 12% share, followed by Indonesia (10%), Vietnam (7.1%), Malaysia (6.1%), the Philippines (5.6%), Singapore (5.6%), New Zealand (5.1%) and Taiwan (Chinese) (4.8%).

From 2012 to 2022, average annual rates of growth with regard to self-propelled non-electric fork-lift truck imports into Australia stood at +4.5%. At the same time, Vietnam (+14.6%), the Philippines (+14.4%), New Zealand (+10.8%), Taiwan (Chinese) (+8.8%), Indonesia (+4.3%) and Thailand (+2.9%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +14.6% from 2012-2022. By contrast, Singapore (-3.0%) and Malaysia (-4.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Vietnam, the Philippines, Australia, New Zealand and Taiwan (Chinese) increased by +4.5, +3.6, +2.8, +2.5 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported self-propelled fork-lift trucks with non-electric motor in Asia-Pacific, comprising 38% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 14% share of total imports. It was followed by Thailand, with a 7.1% share.

In Australia, self-propelled non-electric fork-lift truck imports increased at an average annual rate of +1.7% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Indonesia (+4.5% per year) and Thailand (-4.9% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per unit in 2022, growing by 1.9% against the previous year. In general, the import price, however, continues to indicate a perceptible shrinkage. The growth pace was the most rapid in 2019 an increase of 6%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

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