Lithuania: Market for Self-Propelled Fork-Lift Trucks with Non-Electric Motor 2025

Market Size for Self-Propelled Fork-Lift Trucks with Non-Electric Motor in Lithuania

In 2022, the Lithuanian self-propelled non-electric fork-lift truck market increased by 30% to $X, rising for the fourth year in a row after two years of decline. Overall, consumption enjoyed a noticeable expansion. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the immediate term.

Production of Self-Propelled Fork-Lift Trucks with Non-Electric Motor in Lithuania

In value terms, self-propelled non-electric fork-lift truck production expanded significantly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the production volume increased by 98% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Self-Propelled Fork-Lift Trucks with Non-Electric Motor

Exports from Lithuania

Self-propelled non-electric fork-lift truck exports from Lithuania contracted remarkably to X units in 2022, waning by -30.7% compared with 2021 figures. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when exports increased by 57% against the previous year. The exports peaked at X units in 2021, and then fell notably in the following year.

In value terms, self-propelled non-electric fork-lift truck exports dropped to $X in 2022. In general, exports, however, enjoyed a modest expansion. The growth pace was the most rapid in 2017 when exports increased by 47% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Ukraine (X units), Latvia (X units) and Kyrgyzstan (X units) were the main destinations of self-propelled non-electric fork-lift truck exports from Lithuania, together accounting for 48% of total exports. Kazakhstan, Estonia, Poland, the Netherlands, Germany, Spain, Bulgaria, Belarus, the Czech Republic and Italy lagged somewhat behind, together comprising a further 42%.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +34.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Kazakhstan ($X), Latvia ($X) and Poland ($X) constituted the largest markets for self-propelled non-electric fork-lift truck exported from Lithuania worldwide, together comprising 55% of total exports. Estonia, Ukraine, the Netherlands, Germany, Italy, Belarus, Spain, Kyrgyzstan, the Czech Republic and Bulgaria lagged somewhat behind, together accounting for a further 29%.

Spain, with a CAGR of +60.0%, 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 self-propelled non-electric fork-lift truck export price stood at $X per unit in 2022, jumping by 36% against the previous year. In general, export price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The export price peaked at $X per unit in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Kazakhstan ($X per unit), while the average price for exports to Kyrgyzstan ($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 Spain (+28.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Self-Propelled Fork-Lift Trucks with Non-Electric Motor

Imports into Lithuania

In 2022, the amount of self-propelled fork-lift trucks with non-electric motor imported into Lithuania reduced to X units, waning by -8.3% on the year before. Overall, total imports indicated a moderate increase from 2012 to 2022: its volume increased at an average annual rate of +4.7% 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 +53.5% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 67%. As a result, imports attained the peak of X units, and then reduced in the following year.

In value terms, self-propelled non-electric fork-lift truck imports reached $X in 2022. In general, imports, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2021 with an increase of 67%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

Japan (X units), the UK (X units) and Germany (X units) were the main suppliers of self-propelled non-electric fork-lift truck imports to Lithuania, together comprising 44% of total imports. France, China, Italy, the Netherlands, Denmark, Poland, Belgium and Latvia lagged somewhat behind, together accounting for a further 44%.

From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of +22.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest self-propelled non-electric fork-lift truck suppliers to Lithuania were the UK ($X), France ($X) and Italy ($X), together comprising 59% of total imports. Germany, China, Japan, Latvia, the Netherlands, Belgium, Poland and Denmark lagged somewhat behind, together accounting for a further 32%.

Among the main suppliers, Denmark, with a CAGR of +16.9%, saw the highest rates of growth with regard to 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 self-propelled non-electric fork-lift truck import price stood at $X per unit in 2022, jumping by 19% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.9%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Latvia (+9.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform