Eastern Asia: Non-Self-Propelled Fork-Lift Truck Market 2024

Non-Self-Propelled Fork-Lift Truck Market Size in Eastern Asia

The East Asian non-self-propelled fork-lift truck market fell to $X in 2022, waning by -7.4% against the previous year. The market value increased at an average annual rate of +1.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Non-Self-Propelled Fork-Lift Truck Production in Eastern Asia

In value terms, non-self-propelled fork-lift truck production dropped to $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by 25%. As a result, production reached the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Non-Self-Propelled Fork-Lift Truck Exports

Exports in Eastern Asia

In 2022, overseas shipments of non-self-propelled fork-lift trucks increased by 11% to X units, rising for the second consecutive year after two years of decline. Total exports indicated a perceptible increase 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 +45.3% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 31% against the previous year. The volume of export peaked in 2022 and is likely to see steady growth in years to come.

In value terms, non-self-propelled 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 +6.4% 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 +89.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 45%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The biggest shipments were from China (X units), together accounting for 99% of total export.

China was also the fastest-growing in terms of the non-self-propelled fork-lift trucks exports, with a CAGR of +3.7% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest non-self-propelled fork-lift truck supplier in Eastern Asia.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled +6.8%.

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2022, picking up by 17% against the previous year. Over the last decade, it increased at an average annual rate of +2.6%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +2.9% per year.

Non-Self-Propelled Fork-Lift Truck Imports

Imports in Eastern Asia

In 2022, approx. X units of non-self-propelled fork-lift trucks were imported in Eastern Asia; stabilizing at 2021. Total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +7.4% 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 +5.0% against 2020 indices. The pace of growth was the most pronounced in 2016 with an increase of 37% against the previous year. Over the period under review, imports attained the maximum at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, non-self-propelled fork-lift truck imports contracted slightly to $X in 2022. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 28% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Japan was the key importing country with an import of around X units, which finished at 46% of total imports. South Korea (X units) took the second position in the ranking, distantly followed by Taiwan (Chinese) (X units). All these countries together held near 47% share of total imports. Hong Kong SAR (X units) and China (X units) held a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +16.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), South Korea ($X) and Japan ($X) were the countries with the highest levels of imports in 2022, with a combined 89% share of total imports.

Japan, with a CAGR of +15.6%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2022, flattening at the previous year. Overall, the import price showed a abrupt slump. The most prominent rate of growth was recorded in 2018 when the import price increased by 15%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 China ($X per unit), while Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+4.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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