Latin America and the Caribbean: Non-Self-Propelled Fork-Lift Truck Market 2024

Non-Self-Propelled Fork-Lift Truck Market Size in Latin America and the Caribbean

The Latin American non-self-propelled fork-lift truck market soared to $X in 2022, with an increase of 38% against the previous year. The market value increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Non-Self-Propelled Fork-Lift Truck Production in Latin America and the Caribbean

In value terms, non-self-propelled fork-lift truck production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a mild descent. The most prominent rate of growth was recorded in 2020 when the production volume increased by 224% against the previous year. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Non-Self-Propelled Fork-Lift Truck Exports

Exports in Latin America and the Caribbean

In 2022, overseas shipments of non-self-propelled fork-lift trucks increased by 54% to X units, rising for the second consecutive year after three years of decline. In general, exports saw a resilient increase. The most prominent rate of growth was recorded in 2017 with an increase of 59% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, non-self-propelled fork-lift truck exports skyrocketed to $X in 2022. Total exports indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +3.8% 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 +48.0% against 2020 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 33% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Brazil prevails in exports structure, accounting for X units, which was near 90% of total exports in 2022. Mexico (X units) followed a long way behind the leaders.

Brazil was also the fastest-growing in terms of the non-self-propelled fork-lift trucks exports, with a CAGR of +15.9% from 2012 to 2022. Mexico (-14.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Brazil increased by +39 percentage points.

In value terms, Brazil ($X) remains the largest non-self-propelled fork-lift truck supplier in Latin America and the Caribbean, comprising 54% of total exports. The second position in the ranking was taken by Mexico ($X), with a 9.2% share of total exports.

In Brazil, non-self-propelled fork-lift truck exports increased at an average annual rate of +14.7% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per unit, waning by -19.3% against the previous year. Overall, the export price continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2014 when the export price increased by 44%. Over the period under review, the export prices reached the maximum at $X per unit in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Mexico ($X per unit), while Brazil totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+6.7%).

Non-Self-Propelled Fork-Lift Truck Imports

Imports in Latin America and the Caribbean

In 2022, purchases abroad of non-self-propelled fork-lift trucks increased by 15% to X units, rising for the second year in a row after two years of decline. Total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +5.9% 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 +86.6% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 62% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, non-self-propelled fork-lift truck imports soared to $X in 2022. The total import value increased at an average annual rate of +1.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 38%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

The purchases of the four major importers of non-self-propelled fork-lift trucks, namely Brazil, Chile, Mexico and Argentina, represented more than two-thirds of total import. Colombia (X units) took the next position in the ranking, followed by Peru (X units). All these countries together took approx. 9.6% share of total imports. Ecuador (X units), Trinidad and Tobago (X units), Panama (X units), the Dominican Republic (X units), Uruguay (X units) and Guatemala (X units) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Trinidad and Tobago (with a CAGR of +28.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Brazil ($X) and Argentina ($X) were the countries with the highest levels of imports in 2022, together accounting for 46% of total imports. Chile, Colombia, Peru, the Dominican Republic, Panama, Guatemala, Ecuador, Trinidad and Tobago and Uruguay lagged somewhat behind, together comprising a further 33%.

The Dominican Republic, with a CAGR of +16.9%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per unit in 2022, rising by 9% against the previous year. Overall, the import price, however, continues to indicate a pronounced descent. The pace of growth was the most pronounced in 2014 when the import price increased by 29% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2022, the import prices remained at a somewhat lower figure.

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 Guatemala ($X per unit), while Uruguay ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+2.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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