Report Update Nov 1, 2024

Puerto Rico - Fork-Lift Trucks - Market Analysis, Forecast, Size, Trends and Insights

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Puerto Rico: Fork-Lift Truck Market 2024

Fork-Lift Truck Market Size in Puerto Rico

In 2021, the Puerto Rican fork-lift truck market decreased by -21.9% to $X for the first time since 2017, thus ending a three-year rising trend. Over the period under review, consumption, however, saw resilient growth. As a result, consumption reached the peak level of $X, and then shrank markedly in the following year.

Fork-Lift Truck Production in Puerto Rico

In value terms, fork-lift truck production plummeted to $X in 2021 estimated in export price. In general, production, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2020 with an increase of 99%. As a result, production reached the peak level of $X, and then fell sharply in the following year.

Fork-Lift Truck Exports

Exports by Country

China was the major exporter of fork-lift trucks in the world, with the volume of exports accounting for X units, which was approx. 35% of total exports in 2021. Germany (X units) ranks second in terms of the total exports with a 10% share, followed by Italy (8.1%), Sweden (6.8%) and Ireland (5.8%). Belgium (X units), the Netherlands (X units), France (X units), Vietnam (X units), Malaysia (X units), the UK (X units), the United States (X units) and Japan (X units) took a minor share of total exports.

Exports from China increased at an average annual rate of +4.9% from 2012 to 2021. At the same time, Malaysia (+54.6%), Vietnam (+41.2%), Belgium (+16.8%), Italy (+16.4%), Ireland (+9.2%), Germany (+8.3%), Sweden (+7.9%), France (+4.8%) and the United States (+2.2%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in the world, with a CAGR of +54.6% from 2012-2021. The UK and the Netherlands experienced a relatively flat trend pattern. By contrast, Japan (-3.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Italy, Vietnam, Belgium, Malaysia and Germany increased by +4.5, +2.8, +2.6, +2.5 and +1.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest fork-lift truck supplying countries from Puerto Rico were China ($X), Germany ($X) and the United States ($X), with a combined 47% share of total exports. These countries were followed by Italy, France, Sweden, the UK, Japan, the Netherlands, Belgium, Ireland, Vietnam and Malaysia, which together accounted for a further 38%.

In terms of the main exporting countries, Vietnam, with a CAGR of +54.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Fork-Lift Truck Imports

Imports by Country

In 2021, Germany (X units), followed by France (X units), the Netherlands (X units), the United States (X units) and Italy (X units) were the major importers of fork-lift trucks, together making up 37% of total imports. Belgium (X units), Nigeria (X units), Spain (X units), Poland (X units), Canada (X units), the UK (X units), South Africa (X units) and India (X units) held a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Nigeria (with a CAGR of +27.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constitutes the largest market for imported fork-lift trucks into Puerto Rico, comprising 14% of global imports. The second position in the ranking was held by Germany ($X), with a 6% share of global imports. It was followed by the Netherlands, with a 5.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the United States totaled +8.0%. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+4.5% per year) and the Netherlands (+11.7% per year).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for fork-lift trucks in the world?

China remains the largest fork-lift truck consuming country worldwide, comprising approx. 42% of total volume. Moreover, fork-lift truck consumption in China exceeded the figures recorded by the second-largest consumer, South Africa, threefold. The Netherlands ranked third in terms of total consumption with a 3.7% share.

What are the largest producers of fork-lift trucks in the world?

China constituted the country with the largest volume of fork-lift truck production, comprising approx. 73% of total volume. Moreover, fork-lift truck production in China exceeded the figures recorded by the second-largest producer, India, more than tenfold. Japan ranked third in terms of total production with a 3.2% share.

What are the leading suppliers of fork-lift trucks to Puerto Rico?

In value terms, the United States, Germany and the Netherlands appeared to be the countries with the highest levels of imports in 2021, with a combined 24% share of total imports.

What are the leading importers of fork-lift trucks from Puerto Rico?

In value terms, the largest fork-lift truck supplying countries from Puerto Rico were China, Germany and the United States, together comprising 50% of total exports. These countries were followed by Italy, France, Sweden, the Netherlands, Belgium, Ireland, Vietnam and Malaysia, which together accounted for a further 28%.

What is the average export price for fork-lift trucks in Puerto Rico?

In 2021, the export price in Puerto Rico amounted to $less than 0.1 per thousand units, remaining stable against the previous year.

What is the average import price for fork-lift trucks in Puerto Rico?

The import price in Puerto Rico stood at $less than 0.1 per thousand units in 2021, approximately reflecting the previous year.

This report provides an in-depth analysis of the fork-lift truck market in Puerto Rico. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 28221513 - Self-propelled fork-lift trucks powered by an electric motor, w ith a lifting height . 1 m
Prodcom 28221515 - Self-propelled fork-lift trucks powered by an electric motor, w ith a lifting height < 1 m
Prodcom 28221530 - Self-propelled trucks fitted with lifting or handling equipment, n on-powered by an electric motor
Prodcom 28221550 - Fork-lift trucks and other works trucks fitted with lifting or handling equipment (excluding self-propelled trucks)

Country coverage:

Puerto Rico

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Puerto Rico
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023