CIS: Fork-Lift Truck Market 2025

Fork-Lift Truck Market Size in CIS

The CIS fork-lift truck market reduced to $X in 2022, shrinking by -3.4% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. The level of consumption peaked at $X in 2019; afterwards, it flattened through to 2022.

Fork-Lift Truck Production in CIS

In value terms, fork-lift truck production dropped modestly to $X in 2022 estimated in export price. The total production indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.7% against 2019 indices. The pace of growth appeared the most rapid in 2016 with an increase of 75% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Fork-Lift Truck Exports

Exports in CIS

For the third year in a row, the CIS recorded growth in shipments abroad of fork-lift trucks, which increased by 13% to X units in 2022. In general, exports showed a prominent increase. The most prominent rate of growth was recorded in 2018 with an increase of 106%. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, fork-lift truck exports surged to $X in 2022. Overall, exports, however, showed a slight contraction. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Russia represented the key exporting country with an export of about X units, which reached 66% of total exports. Kazakhstan (X units) held a 17% share (based on physical terms) of total exports, which put it in second place, followed by Belarus (7.4%) and Armenia (7.3%).

Exports from Russia increased at an average annual rate of +19.0% from 2012 to 2022. At the same time, Armenia (+48.7%) and Kazakhstan (+40.0%) displayed positive paces of growth. Moreover, Armenia emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +48.7% from 2012-2022. By contrast, Belarus (-13.4%) illustrated a downward trend over the same period. Russia (+40 p.p.), Kazakhstan (+16 p.p.) and Armenia (+7 p.p.) significantly strengthened its position in terms of the total exports, while Belarus saw its share reduced by -62% from 2012 to 2022, respectively.

In value terms, the largest fork-lift truck supplying countries in the CIS were Kazakhstan ($X), Russia ($X) and Belarus ($X), with a combined 93% share of total exports. Armenia lagged somewhat behind, accounting for a further 2%.

Among the main exporting countries, Armenia, with a CAGR of +92.5%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in the CIS amounted to $X per unit, with an increase of 69% against the previous year. In general, the export price, however, continues to indicate a abrupt decrease. Over the period under review, the export prices reached the peak figure at $X per unit in 2013; however, from 2014 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 Kazakhstan ($X per unit), while Armenia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Armenia (+29.5%), while the other leaders experienced mixed trends in the export price figures.

Fork-Lift Truck Imports

Imports in CIS

Fork-lift truck imports was estimated at X units in 2022, picking up by 3.7% compared with the previous year. In general, imports, however, showed a slight descent. The pace of growth was the most pronounced in 2019 when imports increased by 58%. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, fork-lift truck imports dropped to $X in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 40% against the previous year. As a result, imports reached the peak of $X, and then dropped in the following year.

Imports by Country

Russia represented the major importer of fork-lift trucks in the CIS, with the volume of imports finishing at X units, which was near 59% of total imports in 2022. It was distantly followed by Azerbaijan (X units), Uzbekistan (X units), Kazakhstan (X units) and Belarus (X units), together comprising a 36% share of total imports. Moldova (X units) took a relatively small share of total imports.

Imports into Russia decreased at an average annual rate of -5.5% from 2012 to 2022. At the same time, Uzbekistan (+28.8%), Azerbaijan (+16.1%), Moldova (+9.0%) and Kazakhstan (+8.0%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing importer imported in the CIS, with a CAGR of +28.8% from 2012-2022. By contrast, Belarus (-3.2%) illustrated a downward trend over the same period. Uzbekistan (+11 p.p.), Azerbaijan (+10 p.p.), Kazakhstan (+4 p.p.) and Moldova (+2 p.p.) significantly strengthened its position in terms of the total imports, while Russia saw its share reduced by -27.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported fork-lift trucks in the CIS, comprising 80% of total imports. The second position in the ranking was held by Kazakhstan ($X), with a 7.2% share of total imports. It was followed by Belarus, with a 5.2% share.

In Russia, fork-lift truck imports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Kazakhstan (+5.3% per year) and Belarus (-2.8% per year).

Import Prices by Country

The import price in the CIS stood at $X per unit in 2022, waning by -14.7% against the previous year. Import price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 an increase of 44%. Over the period under review, import prices attained the maximum at $X per unit in 2015; however, from 2016 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 Russia ($X per unit), while Azerbaijan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Moldova (+6.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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