Kuwait: Fork-Lift Truck Market 2025

Fork-Lift Truck Market Size in Kuwait

In 2022, the Kuwaiti fork-lift truck market was finally on the rise to reach $X after two years of decline. Overall, consumption, however, continues to indicate a pronounced downturn. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Fork-Lift Truck Exports

Exports from Kuwait

In 2022, the amount of fork-lift trucks exported from Kuwait shrank notably to X units, which is down by -29.3% compared with 2021. In general, exports, however, continue to indicate significant growth. The pace of growth was the most pronounced in 2021 when exports increased by 237% against the previous year. As a result, the exports reached the peak of X units, and then dropped markedly in the following year.

In value terms, fork-lift truck exports shrank rapidly to $X in 2022. Over the period under review, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2015 with an increase of 504% against the previous year. Over the period under review, the exports attained the maximum at $X in 2021, and then shrank dramatically in the following year.

Exports by Country

Sudan (X units), Saudi Arabia (X units) and Oman (X units) were the main destinations of fork-lift truck exports from Kuwait, together comprising 85% of total exports.

From 2012 to 2022, the biggest increases were recorded for Sudan (with a CAGR of +72.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Oman ($X), the United Arab Emirates ($X) and Saudi Arabia ($X) appeared to be the largest markets for fork-lift truck exported from Kuwait worldwide, with a combined 76% share of total exports. Qatar, Bahrain, Egypt and Sudan lagged somewhat behind, together accounting for a further 20%.

Sudan, with a CAGR of +59.4%, recorded the highest growth rate of the value of exports, in terms of 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, which is down by -16.2% against the previous year. Overall, the export price recorded a perceptible reduction. The growth pace was the most rapid in 2015 when the average export price increased by 107% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Sudan ($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 the United Arab Emirates (+16.4%), while the prices for the other major destinations experienced more modest paces of growth.

Fork-Lift Truck Imports

Imports into Kuwait

In 2022, the amount of fork-lift trucks imported into Kuwait declined modestly to X units, shrinking by -4.1% against 2021 figures. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 146%. Over the period under review, imports attained the peak figure at X units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, fork-lift truck imports shrank modestly to $X in 2022. Over the period under review, imports showed a noticeable setback. The pace of growth appeared the most rapid in 2017 with an increase of 40% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest fork-lift truck supplier to Kuwait, with a 48% share of total imports. Moreover, fork-lift truck imports from China exceeded the figures recorded by the second-largest supplier, Sweden (X units), threefold. Germany (X units) ranked third in terms of total imports with a 4% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+13.9% per year) and Germany (+1.0% per year).

In value terms, Japan ($X), China ($X) and Germany ($X) were the largest fork-lift truck suppliers to Kuwait, with a combined 43% share of total imports. Sweden, Austria, the United States, the United Arab Emirates, Turkey, Italy, India, Malaysia, the Netherlands and Oman lagged somewhat behind, together comprising a further 33%.

In terms of the main suppliers, Malaysia, with a CAGR of +19.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average fork-lift truck import price stood at $X per unit in 2022, almost unchanged from the previous year. In general, the import price, however, showed a pronounced contraction. The most prominent rate of growth was recorded in 2014 when the average import price increased by 147%. Over the period under review, average import prices hit record highs at $X per unit in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+27.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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