Philippines: Non-Self-Propelled Fork-Lift Truck Market 2025

Non-Self-Propelled Fork-Lift Truck Market Size in the Philippines

The Philippine non-self-propelled fork-lift truck market rose remarkably to $X in 2022, picking up by 8.1% against the previous year. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Non-self-propelled fork-lift truck consumption peaked in 2022 and is likely to see steady growth in the near future.

Non-Self-Propelled Fork-Lift Truck Production in the Philippines

In value terms, non-self-propelled fork-lift truck production expanded slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when the production volume increased by 25%. Non-self-propelled fork-lift truck production peaked at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Non-Self-Propelled Fork-Lift Truck Exports

Exports from the Philippines

In 2022, overseas shipments of non-self-propelled fork-lift trucks decreased by -92.7% to X units, falling for the third year in a row after two years of growth. Overall, exports, however, recorded prominent growth. The growth pace was the most rapid in 2013 with an increase of 5,742%. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, non-self-propelled fork-lift truck exports contracted markedly to $X in 2022. Over the period under review, exports, however, posted a noticeable increase. The growth pace was the most rapid in 2013 when exports increased by 4,217%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

South Korea (X units) was the main destination for non-self-propelled fork-lift truck exports from the Philippines, accounting for a 84% share of total exports. Moreover, non-self-propelled fork-lift truck exports to South Korea exceeded the volume sent to the second major destination, China (X units), sixfold.

From 2012 to 2022, the average annual growth rate of volume to South Korea stood at -11.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-6.1% per year) and the Netherlands (0.0% per year).

In value terms, South Korea ($X) remains the key foreign market for non-self-propelled fork-lift trucks exports from the Philippines, comprising 69% of total exports. The second position in the ranking was held by China ($X), with a 27% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to South Korea stood at +16.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+18.1% per year) and the Netherlands (0.0% per year).

Export Prices by Country

The average non-self-propelled fork-lift truck export price stood at $X per unit in 2022, rising by 49% against the previous year. Over the period under review, the export price, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2016 an increase of 1,038%. The export price peaked 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 export markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to South Korea ($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 Papua New Guinea (+62.7%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Self-Propelled Fork-Lift Truck Imports

Imports into the Philippines

For the fourth consecutive year, the Philippines recorded growth in overseas purchases of non-self-propelled fork-lift trucks, which increased by 94% to X units in 2022. Over the period under review, imports continue to indicate a strong increase. The pace of growth was the most pronounced in 2017 with an increase of 320%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, non-self-propelled fork-lift truck imports expanded notably to $X in 2022. Overall, imports, however, recorded a deep reduction. The most prominent rate of growth was recorded in 2017 when imports increased by 217%. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X units) was the main non-self-propelled fork-lift truck supplier to the Philippines, with a 97% share of total imports. It was followed by Japan (X units), with a 0.8% share of total imports. Sweden (X units) ranked third in terms of total imports with a 0.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +19.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-20.9% per year) and Sweden (-16.6% per year).

In value terms, China ($X) constituted the largest supplier of non-self-propelled fork-lift trucks to the Philippines, comprising 72% of total imports. The second position in the ranking was taken by Japan ($X), with a 9.9% share of total imports. It was followed by Sweden, with a 1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled -2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-27.6% per year) and Sweden (-24.8% per year).

Import Prices by Country

The average non-self-propelled fork-lift truck import price stood at $X per unit in 2022, with a decrease of -41.5% against the previous year. In general, the import price saw a sharp descent. The most prominent rate of growth was recorded in 2014 an increase of 97% against the previous year. The import price peaked at $X per unit in 2015; however, from 2016 to 2022, import prices remained at a 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 (-8.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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