Malaysia: Fork-Lift Truck Market 2024

Fork-Lift Truck Market Size in Malaysia

In 2022, the Malaysian fork-lift truck market decreased by -10.1% to $X for the first time since 2019, thus ending a two-year rising trend. In general, consumption, however, posted resilient growth. Fork-lift truck consumption peaked at $X in 2021, and then declined in the following year.

Fork-Lift Truck Production in Malaysia

In value terms, fork-lift truck production dropped to $X in 2022 estimated in export price. Over the period under review, production, however, showed significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 112%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Fork-Lift Truck Exports

Exports from Malaysia

In 2022, the amount of fork-lift trucks exported from Malaysia declined to X units, with a decrease of -12.5% on the previous year. In general, exports, however, continue to indicate a significant increase. The pace of growth appeared the most rapid in 2014 when exports increased by 1,536% against the previous year. Over the period under review, the exports reached the maximum at X units in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, fork-lift truck exports dropped dramatically to $X in 2022. Overall, exports, however, posted buoyant growth. The pace of growth was the most pronounced in 2014 when exports increased by 146%. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The Netherlands (X units), Germany (X units) and France (X units) were the main destinations of fork-lift truck exports from Malaysia, with a combined 68% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +168.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for fork-lift truck exported from Malaysia were the Netherlands ($X), Germany ($X) and France ($X), with a combined 55% share of total exports.

In terms of the main countries of destination, Germany, with a CAGR of +65.0%, saw the highest growth rate of the value of exports, 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, reducing by -3.7% against the previous year. Overall, the export price recorded a sharp contraction. The pace of growth was the most pronounced in 2021 when the average export price increased by 11% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per unit), while the average price for exports to Spain ($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 UK (-1.3%), while the prices for the other major destinations experienced a decline.

Fork-Lift Truck Imports

Imports into Malaysia

Fork-lift truck imports into Malaysia fell to X units in 2022, waning by -14.2% against the previous year. In general, total imports indicated a pronounced expansion from 2012 to 2022: its volume increased at an average annual rate of +3.4% 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 +17.5% against 2020 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 99% against the previous year. As a result, imports attained the peak of X units. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, fork-lift truck imports reduced to $X in 2022. Over the period under review, imports saw a perceptible decrease. The most prominent rate of growth was recorded in 2021 with an increase of 25%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest fork-lift truck supplier to Malaysia, with a 66% share of total imports. Moreover, fork-lift truck imports from China exceeded the figures recorded by the second-largest supplier, Myanmar (X units), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +5.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Myanmar (0.0% per year) and Japan (-8.5% per year).

In value terms, the largest fork-lift truck suppliers to Malaysia were Myanmar ($X), Japan ($X) and China ($X), with a combined 93% share of total imports.

Among the main suppliers, China, with a CAGR of +1.1%, 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 mixed trend patterns.

Import Prices by Country

The average fork-lift truck import price stood at $X per unit in 2022, with an increase of 4.9% against the previous year. Over the period under review, the import price, however, saw a deep downturn. The most prominent rate of growth was recorded in 2018 an increase of 38%. The import price peaked at $X per unit in 2012; however, from 2013 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 ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (-0.4%).

Source: IndexBox Platform

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