Latin America and the Caribbean: Fork-Lift Truck Market 2025

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

In 2022, the Latin American fork-lift truck market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. The total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +8.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2022 and is likely to continue growth in years to come.

Fork-Lift Truck Production in Latin America and the Caribbean

In value terms, fork-lift truck production stood at $X in 2022 estimated in export price. Overall, production enjoyed a significant expansion. The growth pace was the most rapid in 2014 with an increase of 193% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Fork-Lift Truck Exports

Exports in Latin America and the Caribbean

In 2022, shipments abroad of fork-lift trucks increased by 47% to X units, rising for the second consecutive year after two years of decline. In general, exports enjoyed significant growth. The growth pace was the most rapid in 2015 with an increase of 190% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, fork-lift truck exports surged to $X in 2022. Over the period under review, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2016 when exports increased by 83% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports by Country

Mexico represented the major exporter of fork-lift trucks in Latin America and the Caribbean, with the volume of exports amounting to X units, which was near 77% of total exports in 2022. It was distantly followed by Brazil (X units), mixing up a 20% share of total exports.

Mexico was also the fastest-growing in terms of the fork-lift trucks exports, with a CAGR of +26.6% from 2012 to 2022. At the same time, Brazil (+14.4%) displayed positive paces of growth. Mexico (+30 p.p.) significantly strengthened its position in terms of the total exports, while Brazil saw its share reduced by -13.6% from 2012 to 2022, respectively.

In value terms, Mexico ($X) remains the largest fork-lift truck supplier in Latin America and the Caribbean, comprising 88% of total exports. The second position in the ranking was held by Brazil ($X), with an 8.2% share of total exports.

In Mexico, fork-lift truck exports increased at an average annual rate of +30.2% over the period from 2012-2022.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2022, surging by 23% against the previous year. Overall, the export price showed a temperate expansion. The pace of growth appeared the most rapid in 2016 when the export price increased by 153%. As a result, the export price reached the peak level of $X per unit. From 2017 to 2022, the export prices remained at a somewhat lower figure.

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 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 (+2.9%).

Fork-Lift Truck Imports

Imports in Latin America and the Caribbean

In 2022, supplies from abroad of fork-lift trucks increased by 32% to X units, rising for the second year in a row after two years of decline. Total imports indicated a pronounced expansion from 2012 to 2022: its volume increased at an average annual rate of +2.3% 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 +104.3% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 55% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, fork-lift truck imports soared to $X in 2022. Total imports indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.6% 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 +83.2% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Brazil (X units), Mexico (X units), Chile (X units) and Argentina (X units) represented the major importer of fork-lift trucks in Latin America and the Caribbean, constituting 78% of total import. The following importers - Colombia (X units), Peru (X units), Ecuador (X units) and Uruguay (X units) - together made up 11% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Chile (with a CAGR of +10.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Mexico ($X) and Argentina ($X) were the countries with the highest levels of imports in 2022, together comprising 71% of total imports.

Argentina, with a CAGR of +7.9%, recorded the highest rates of growth with regard to the value of imports, in terms of 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, increasing by 8.5% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 an increase of 16%. Over the period under review, import prices reached the peak figure at $X per unit in 2019; however, from 2020 to 2022, import prices remained at a 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 Mexico ($X per unit), while Ecuador ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+5.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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