Lithuania: Market for Fork-Lift Trucks and Other Industrial Works Trucks and Tractors 2025

Market Size for Fork-Lift Trucks and Other Industrial Works Trucks and Tractors in Lithuania

In 2022, the Lithuanian market for fork-lift trucks and other industrial works trucks and tractors decreased by -65.7% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption recorded a slight shrinkage. As a result, consumption attained the peak level of $X, and then contracted sharply in the following year.

Exports of Fork-Lift Trucks and Other Industrial Works Trucks and Tractors

Exports from Lithuania

In 2022, after six years of growth, there was significant decline in shipments abroad of fork-lift trucks and other industrial works trucks and tractors, when their volume decreased by -59.2% to X units. In general, exports, however, posted prominent growth. The most prominent rate of growth was recorded in 2021 with an increase of 267%. As a result, the exports attained the peak of X units, and then fell rapidly in the following year.

In value terms, exports of fork-lift trucks and other industrial works trucks and tractors dropped to $X in 2022. Overall, exports, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 254% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Kazakhstan (X units), Latvia (X units) and Russia (X units) were the main destinations of exports of fork-lift trucks and other industrial works trucks and tractors from Lithuania, with a combined 57% share of total exports. The UK, Germany, Estonia, Hungary, Ukraine, Poland, Bulgaria, Kyrgyzstan and Belarus lagged somewhat behind, together accounting for a further 32%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +85.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for forklift truck and industrial works truck exported from Lithuania were Latvia ($X), Kazakhstan ($X) and Poland ($X), together accounting for 46% of total exports. Russia, Estonia, Hungary, Germany, Ukraine, Belarus, Kyrgyzstan, the UK and Bulgaria lagged somewhat behind, together accounting for a further 34%.

Hungary, with a CAGR of +78.1%, saw the highest rates of growth with regard to 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 export price for fork-lift trucks and other industrial works trucks and tractors stood at $X per unit in 2022, picking up by 112% against the previous year. In general, the export price, however, showed a abrupt decrease. The export price peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Poland ($X per unit), while the average price for exports to the UK ($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 Poland (+10.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Fork-Lift Trucks and Other Industrial Works Trucks and Tractors

Imports into Lithuania

In 2022, overseas purchases of fork-lift trucks and other industrial works trucks and tractors decreased by -67.4% to X units for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports, however, recorded a mild increase. The pace of growth was the most pronounced in 2021 with an increase of 621%. As a result, imports reached the peak of X units, and then shrank notably in the following year.

In value terms, imports of fork-lift trucks and other industrial works trucks and tractors expanded sharply to $X in 2022. In general, imports, however, enjoyed a resilient expansion. The growth pace was the most rapid in 2021 with an increase of 40% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

Germany (X units), China (X units) and Latvia (X units) were the main suppliers of imports of fork-lift trucks and other industrial works trucks and tractors to Lithuania, with a combined 43% share of total imports. France, Poland, Sweden, the Netherlands, the UK, Estonia, Austria, Japan, Italy and Finland lagged somewhat behind, together comprising a further 48%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Austria (with a CAGR of +68.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest forklift truck and industrial works truck suppliers to Lithuania were Germany ($X), France ($X) and the UK ($X), with a combined 56% share of total imports. Italy, Latvia, China, the Netherlands, Poland, Japan, Sweden, Estonia, Finland and Austria lagged somewhat behind, together comprising a further 35%.

Austria, with a CAGR of +31.9%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for fork-lift trucks and other industrial works trucks and tractors stood at $X per unit in 2022, rising by 234% against the previous year. Overall, the import price continues to indicate a prominent expansion. The import price peaked at $X per unit in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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 Italy ($X per unit), while the price for Austria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+19.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform