Overview of the Global Market for Fork-Lift Trucks and Other Industrial Works Trucks and Tractors

Market Size for Fork-Lift Trucks and Other Industrial Works Trucks and Tractors

In 2022, the global market for fork-lift trucks and other industrial works trucks and tractors was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of +1.5% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Fork-Lift Trucks and Other Industrial Works Trucks and Tractors

In value terms, production of fork-lift trucks and other industrial works trucks and tractors totaled $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. Global production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Fork-Lift Trucks and Other Industrial Works Trucks and Tractors

Exports

In 2022, after two years of growth, there was significant decline in overseas shipments of fork-lift trucks and other industrial works trucks and tractors, when their volume decreased by -63.8% to X units. Over the period under review, exports, however, continue to indicate resilient growth. The pace of growth was the most pronounced in 2021 when exports increased by 462% against the previous year. As a result, the exports attained the peak of X units, and then dropped sharply in the following year.

In value terms, exports of fork-lift trucks and other industrial works trucks and tractors skyrocketed to $X in 2022. Overall, total exports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.5% 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 +74.1% against 2015 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China represented the major exporting country with an export of about X units, which reached 44% of total exports. It was distantly followed by Germany (X units), Japan (X units) and Italy (X units), together making up a 23% share of total exports. France (X units), the UK (X units), South Korea (X units), the Netherlands (X units), Belgium (X units), the United States (X units), Canada (X units) and Sweden (X units) held a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to forklift truck and industrial works truck exports from China stood at +6.2%. At the same time, Canada (+19.1%), the Netherlands (+11.7%), Germany (+11.6%), Belgium (+11.0%), Italy (+10.2%), South Korea (+9.9%), France (+7.9%), Japan (+7.5%), the UK (+7.5%) and the United States (+2.0%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing exporter exported in the world, with a CAGR of +19.1% from 2012-2022. By contrast, Sweden (-2.7%) illustrated a downward trend over the same period. Germany (+2.8 p.p.) significantly strengthened its position in terms of the global exports, while the United States, Sweden and China saw its share reduced by -1.7%, -3.4% and -7.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest forklift truck and industrial works truck supplying countries worldwide were China ($X), Germany ($X) and the United States ($X), with a combined 49% share of global exports.

In terms of the main exporting countries, China, with a CAGR of +14.4%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for fork-lift trucks and other industrial works trucks and tractors stood at $X per unit in 2022, growing by 239% against the previous year. Over the period under review, the export price, however, recorded a pronounced setback. The global export price peaked at $X per unit in 2019; however, from 2020 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 the United States ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.7%), while the other global leaders experienced mixed trends in the export price figures.

Imports of Fork-Lift Trucks and Other Industrial Works Trucks and Tractors

Imports

In 2022, after two years of growth, there was significant decline in overseas purchases of fork-lift trucks and other industrial works trucks and tractors, when their volume decreased by -36.8% to X units. In general, imports, however, continue to indicate a prominent expansion. The growth pace was the most rapid in 2021 when imports increased by 213% against the previous year. As a result, imports reached the peak of X units, and then fell notably in the following year.

In value terms, imports of fork-lift trucks and other industrial works trucks and tractors soared to $X in 2022. Overall, total imports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +4.9% 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 +65.5% against 2016 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the United States (X units), distantly followed by Brazil (X units), Spain (X units), Belgium (X units) and Canada (X units) were the major importers of fork-lift trucks and other industrial works trucks and tractors, together making up 33% of total imports. Germany (X units), the Netherlands (X units), Indonesia (X units), Italy (X units), the UK (X units), France (X units), Thailand (X units) and Australia (X units) followed a long way behind the leaders.

Imports into the United States increased at an average annual rate of +5.0% from 2012 to 2022. At the same time, Indonesia (+23.2%), Spain (+19.8%), Canada (+13.0%), Brazil (+12.8%), Germany (+12.7%), Belgium (+11.7%), Thailand (+10.9%), Australia (+10.0%), the Netherlands (+9.1%) and Italy (+8.2%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in the world, with a CAGR of +23.2% from 2012-2022. France experienced a relatively flat trend pattern. By contrast, the UK (-3.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Spain, Indonesia and Brazil increased by +3.2, +2.2 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported fork-lift trucks and other industrial works trucks and tractors worldwide, comprising 18% of global imports. The second position in the ranking was taken by Canada ($X), with a 5.8% share of global imports. It was followed by Germany, with a 5.3% share.

In the United States, imports of fork-lift trucks and other industrial works trucks and tractors increased at an average annual rate of +11.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Canada (+4.5% per year) and Germany (+5.4% per year).

Import Prices by Country

In 2022, the average import price for fork-lift trucks and other industrial works trucks and tractors amounted to $X per unit, increasing by 90% against the previous year. Over the period under review, the import price, however, showed a pronounced shrinkage. Global import price peaked at $X per unit in 2018; however, from 2019 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 France ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+9.6%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :