Ethiopia: Fork-Lift Truck Market 2025

Fork-Lift Truck Market Size in Ethiopia

The Ethiopian fork-lift truck market rose significantly to $X in 2022, increasing by 5.5% against the previous year. Over the period under review, consumption continues to indicate strong growth. Fork-lift truck consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Fork-Lift Truck Production in Ethiopia

In value terms, fork-lift truck production expanded modestly to $X in 2022 estimated in export price. Overall, production continues to indicate buoyant growth. The pace of growth was the most pronounced in 2014 with an increase of 26%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Fork-Lift Truck Exports

Exports from Ethiopia

Fork-lift truck exports from Ethiopia shrank sharply to X units in 2022, with a decrease of -20% compared with the year before. Over the period under review, exports, however, posted a significant increase. The pace of growth was the most pronounced in 2016 when exports increased by 1,270% against the previous year. As a result, the exports reached the peak of X units. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, fork-lift truck exports fell markedly to $X in 2022. Overall, exports continue to indicate a pronounced decline. The pace of growth was the most pronounced in 2016 with an increase of 523% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Turkey (X units) and Djibouti (X units) were the main destinations of fork-lift truck exports from Ethiopia.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Turkey (with a CAGR of +94.4%).

In value terms, Djibouti ($X) and Turkey ($X) appeared to be the largest markets for fork-lift truck exported from Ethiopia worldwide.

Turkey, with a CAGR of +99.9%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

The average fork-lift truck export price stood at $X per unit in 2022, rising by 4.6% against the previous year. Over the period under review, the export price, however, faced a dramatic downturn. The pace of growth appeared the most rapid in 2017 when the average export price increased by 285% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Djibouti ($X per unit), while the average price for exports to Turkey amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+19.7%), while the prices for the other major destinations experienced mixed trend patterns.

Fork-Lift Truck Imports

Imports into Ethiopia

In 2022, the amount of fork-lift trucks imported into Ethiopia skyrocketed to X units, with an increase of 137% against 2021. In general, imports saw a remarkable increase. The pace of growth appeared the most rapid in 2013 with an increase of 188%. As a result, imports attained the peak of X units. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, 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 peak figure at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Japan (X units) constituted the largest supplier of fork-lift truck to Ethiopia, with a 39% share of total imports. Moreover, fork-lift truck imports from Japan exceeded the figures recorded by the second-largest supplier, China (X units), twofold. The third position in this ranking was taken by France (X units), with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Japan amounted to +12.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+15.2% per year) and France (-1.2% per year).

In value terms, Japan ($X) constituted the largest supplier of fork-lift trucks to Ethiopia, comprising 33% of total imports. The second position in the ranking was held by China ($X), with a 14% share of total imports. It was followed by France, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Japan totaled +9.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+2.5% per year) and France (-3.1% per year).

Import Prices by Country

The average fork-lift truck import price stood at $X per unit in 2022, declining by -23.5% against the previous year. Overall, the import price continues to indicate a drastic downturn. The growth pace was the most rapid in 2019 an increase of 66% against the previous year. The import price peaked at $X per unit in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+17.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform