Jordan: Fork-Lift Truck Market 2024

Fork-Lift Truck Market Size in Jordan

After two years of growth, the Jordanian fork-lift truck market decreased by -8.9% to $X in 2022. Over the period under review, the total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Fork-lift truck consumption peaked at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Fork-Lift Truck Exports

Exports from Jordan

In 2022, overseas shipments of fork-lift trucks were finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, saw a abrupt curtailment. The pace of growth appeared the most rapid in 2017 when exports increased by 219%. As a result, the exports attained the peak of X units. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, fork-lift truck exports shrank modestly to $X in 2022. Over the period under review, exports, however, continue to indicate a abrupt shrinkage. The growth pace was the most rapid in 2016 with an increase of 121% 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

Free Zones (X units) was the main destination for fork-lift truck exports from Jordan, with a 90% share of total exports. Moreover, fork-lift truck exports to Free Zones exceeded the volume sent to the second major destination, Israel (X units), more than tenfold. The third position in this ranking was held by Saudi Arabia (X units), with a 2.4% share.

From 2012 to 2022, the average annual growth rate of volume to Free Zones totaled -9.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Israel (+8.0% per year) and Saudi Arabia (-12.9% per year).

In value terms, Free Zones ($X) remains the key foreign market for fork-lift trucks exports from Jordan, comprising 94% of total exports. The second position in the ranking was taken by Israel ($X), with a 4.6% share of total exports. It was followed by Saudi Arabia, with a 1.1% share.

From 2012 to 2022, the average annual growth rate of value to Free Zones amounted to -9.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Israel (+2.3% per year) and Saudi Arabia (-17.0% per year).

Export Prices by Country

The average fork-lift truck export price stood at $X per unit in 2022, falling by -7.7% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average export price increased by 558% against the previous year. Over the period under review, the average export prices attained 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 for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Free Zones ($X per unit), while the average price for exports to Sudan ($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 Free Zones (-0.2%), while the prices for the other major destinations experienced a decline.

Fork-Lift Truck Imports

Imports into Jordan

In 2022, after two years of growth, there was significant decline in supplies from abroad of fork-lift trucks, when their volume decreased by -18.1% to X units. Overall, imports, however, saw a buoyant expansion. The pace of growth was the most pronounced in 2015 when imports increased by 104%. Imports peaked at X units in 2021, and then shrank remarkably in the following year.

In value terms, fork-lift truck imports skyrocketed to $X in 2022. In general, total imports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 52%. Over the period under review, imports attained the peak figure at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest fork-lift truck supplier to Jordan, accounting for a 53% share of total imports. Moreover, fork-lift truck imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X units), threefold. Japan (X units) ranked third in terms of total imports with a 14% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +7.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+9.7% per year) and Japan (+24.2% per year).

In value terms, the largest fork-lift truck suppliers to Jordan were China ($X), Germany ($X) and Japan ($X), together accounting for 84% of total imports.

China, with a CAGR of +10.5%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average fork-lift truck import price amounted to $X per unit, with an increase of 49% against the previous year. In general, the import price, however, saw a abrupt curtailment. The pace of growth was the most pronounced in 2014 an increase of 50%. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

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 Germany ($X per unit), while the price for Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+12.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform