Hong Kong SAR, China: Fork-Lift Truck Market 2025

Fork-Lift Truck Market Size in Hong Kong SAR, China

The Hong Kong fork-lift truck market rose notably to $X in 2022, picking up by 11% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded a relatively flat trend pattern. Fork-lift truck consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Fork-Lift Truck Exports

Exports from Hong Kong SAR, China

In 2022, shipments abroad of fork-lift trucks decreased by -28.1% to X units, falling for the sixth year in a row after two years of growth. Overall, exports continue to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2015 with an increase of 24% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, fork-lift truck exports fell rapidly to $X in 2022. Over the period under review, exports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2021 with an increase of 19%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

China (X units) was the main destination for fork-lift truck exports from Hong Kong SAR, accounting for a 37% share of total exports. Moreover, fork-lift truck exports to China exceeded the volume sent to the second major destination, Malaysia (X units), twofold. The United Arab Emirates (X units) ranked third in terms of total exports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume to China stood at -22.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+11.3% per year) and the United Arab Emirates (+300.0% per year).

In value terms, the largest markets for fork-lift truck exported from Hong Kong SAR were China ($X), Malaysia ($X) and the United Arab Emirates ($X), with a combined 65% share of total exports.

The United Arab Emirates, with a CAGR of +1,270.4%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average fork-lift truck export price stood at $X per unit in 2022, with a decrease of -13% against the previous year. Overall, the export price, however, recorded prominent growth. The most prominent rate of growth was recorded in 2021 when the average export price increased by 67% against the previous year. As a result, the export price attained the peak level of $X per unit, and then fell in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per unit), while the average price for exports to Macao SAR ($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 the United Arab Emirates (+242.6%), while the prices for the other major destinations experienced more modest paces of growth.

Fork-Lift Truck Imports

Imports into Hong Kong SAR, China

In 2022, approx. X units of fork-lift trucks were imported into Hong Kong SAR; jumping by 17% compared with 2021 figures. Over the period under review, imports, however, showed a noticeable curtailment. The growth pace was the most rapid in 2019 when imports increased by 42%. As a result, imports reached the peak of X units. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, fork-lift truck imports amounted to $X in 2022. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 36% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of fork-lift truck to Hong Kong SAR, with a 78% share of total imports. Moreover, fork-lift truck imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), fivefold. Germany (X units) ranked third in terms of total imports with a 3.1% share.

From 2012 to 2022, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-7.2% per year) and Germany (+1.6% per year).

In value terms, China ($X) constituted the largest supplier of fork-lift trucks to Hong Kong SAR, comprising 56% of total imports. The second position in the ranking was taken by Japan ($X), with a 27% share of total imports. It was followed by the United States, with a 7.6% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-1.0% per year) and the United States (+9.0% per year).

Import Prices by Country

In 2022, the average fork-lift truck import price amounted to $X per unit, waning by -11.9% against the previous year. Over the period under review, import price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fork-lift truck import price increased by +62.6% against 2019 indices. The pace of growth was the most pronounced in 2020 when the average import price increased by 58%. Over the period under review, average import prices reached the maximum at $X per unit in 2021, and then dropped in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Sweden ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+6.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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