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

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

The Chinese non-self-propelled fork-lift truck market declined dramatically to $X in 2022, dropping by -22.7% against the previous year. In general, consumption recorded a pronounced reduction. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

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

In value terms, non-self-propelled fork-lift truck production contracted modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 12%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Non-Self-Propelled Fork-Lift Truck Exports

Exports from China

In 2022, shipments abroad of non-self-propelled fork-lift trucks increased by 11% to X units, rising for the second consecutive year after two years of decline. Over the period under review, total exports indicated a temperate expansion from 2012 to 2022: its volume increased at an average annual rate of +3.7% 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 +45.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 31% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, non-self-propelled fork-lift truck exports skyrocketed to $X in 2022. Overall, total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +6.8% 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 +92.8% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 47% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.

Exports by Country

The United States (X units) was the main destination for non-self-propelled fork-lift truck exports from China, with a 29% share of total exports. Moreover, non-self-propelled fork-lift truck exports to the United States exceeded the volume sent to the second major destination, Russia (X units), twofold. Brazil (X units) ranked third in terms of total exports with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +6.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+11.0% per year) and Brazil (+16.7% per year).

In value terms, the United States ($X) remains the key foreign market for non-self-propelled fork-lift trucks exports from China, comprising 22% of total exports. The second position in the ranking was taken by Russia ($X), with a 7.5% share of total exports. It was followed by Australia, with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +8.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+9.3% per year) and Australia (+15.9% per year).

Export Prices by Country

In 2022, the average non-self-propelled fork-lift truck export price amounted to $X per unit, surging by 18% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.9%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per unit), while the average price for exports to Russia ($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 Australia (+9.5%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Self-Propelled Fork-Lift Truck Imports

Imports into China

In 2022, the amount of non-self-propelled fork-lift trucks imported into China shrank to X units, approximately mirroring the year before. In general, imports saw a deep contraction. The most prominent rate of growth was recorded in 2018 when imports increased by 67%. Imports peaked at X units in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, non-self-propelled fork-lift truck imports rose modestly to $X in 2022. Overall, imports continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2018 with an increase of 111% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Sweden (X units), Japan (X units) and Germany (X units) were the main suppliers of non-self-propelled fork-lift truck imports to China, together comprising 62% of total imports. The United States, Denmark, South Korea, France and Australia lagged somewhat behind, together accounting for a further 23%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +14.5%), while imports for the other leaders experienced a decline.

In value terms, Denmark ($X) constituted the largest supplier of non-self-propelled fork-lift trucks to China, comprising 30% of total imports. The second position in the ranking was held by Germany ($X), with a 14% share of total imports. It was followed by France, with a 9.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Denmark stood at +13.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-11.0% per year) and France (+10.2% per year).

Import Prices by Country

In 2022, the average non-self-propelled fork-lift truck import price amounted to $X per unit, rising by 3.5% against the previous year. In general, the import price enjoyed a slight expansion. The pace of growth was the most pronounced in 2020 when the average import price increased by 74% against the previous year. As a result, import price reached the peak level of $X per unit. From 2021 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Denmark ($X per unit), while the price for Sweden ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+36.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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