SADC: Fork-Lift Truck Market 2024

Fork-Lift Truck Market Size in SADC

The SADC fork-lift truck market skyrocketed to $X in 2022, increasing by 24% against the previous year. Overall, consumption posted a resilient expansion. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Fork-Lift Truck Production in SADC

In value terms, fork-lift truck production expanded remarkably to $X in 2022 estimated in export price. In general, production saw a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 2,586%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Fork-Lift Truck Exports

Exports in SADC

In 2022, the amount of fork-lift trucks exported in SADC skyrocketed to X units, picking up by 22% compared with the previous year. In general, exports saw resilient growth. The most prominent rate of growth was recorded in 2017 with an increase of 128% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, fork-lift truck exports declined to $X in 2022. Overall, exports, however, continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2018 with an increase of 51% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

South Africa dominates exports structure, finishing at X units, which was approx. 94% of total exports in 2022. Zambia (X units) took a little share of total exports.

Exports from South Africa increased at an average annual rate of +13.7% from 2012 to 2022. At the same time, Zambia (+24.0%) displayed positive paces of growth. Moreover, Zambia emerged as the fastest-growing exporter exported in SADC, with a CAGR of +24.0% from 2012-2022. While the share of South Africa (+24 p.p.) and Zambia (+3 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest fork-lift truck supplier in SADC, comprising 85% of total exports. The second position in the ranking was taken by Zambia ($X), with a 3.3% share of total exports.

From 2012 to 2022, the average annual growth rate of value in South Africa amounted to -4.9%.

Export Prices by Country

The export price in SADC stood at $X per unit in 2022, reducing by -27.6% against the previous year. In general, the export price saw a abrupt slump. The pace of growth was the most pronounced in 2018 an increase of 459% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Africa ($X per unit), while Zambia totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Zambia (-12.3%).

Fork-Lift Truck Imports

Imports in SADC

In 2022, overseas purchases of fork-lift trucks increased by 32% to X units, rising for the third consecutive year after three years of decline. In general, imports saw a buoyant expansion. The pace of growth appeared the most rapid in 2016 with an increase of 20,140%. As a result, imports attained the peak of X units. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, fork-lift truck imports surged to $X in 2022. Over the period under review, imports, however, recorded a slight slump. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, South Africa (X units) was the main importer of fork-lift trucks, comprising 62% of total imports. Mozambique (X units) took the second position in the ranking, distantly followed by Botswana (X units). All these countries together held approx. 26% share of total imports. Zimbabwe (X units), Angola (X units), Tanzania (X units) and Mauritius (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to fork-lift truck imports into South Africa stood at +4.6%. At the same time, Zimbabwe (+17.9%), Mozambique (+15.3%), Mauritius (+7.5%), Botswana (+4.4%) and Tanzania (+1.0%) displayed positive paces of growth. Moreover, Zimbabwe emerged as the fastest-growing importer imported in SADC, with a CAGR of +17.9% from 2012-2022. Angola experienced a relatively flat trend pattern. From 2012 to 2022, the share of Mozambique and Zimbabwe increased by +11 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported fork-lift trucks in SADC, comprising 73% of total imports. The second position in the ranking was taken by Tanzania ($X), with a 4.4% share of total imports. It was followed by Zimbabwe, with a 3.6% share.

In South Africa, fork-lift truck imports contracted by an average annual rate of -1.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Tanzania (+0.8% per year) and Zimbabwe (+9.4% per year).

Import Prices by Country

The import price in SADC stood at $X per unit in 2022, increasing by 3.4% against the previous year. In general, the import price, however, saw a deep reduction. The most prominent rate of growth was recorded in 2018 an increase of 15,990%. Over the period under review, import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Tanzania ($X per unit), while Botswana ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tanzania (-0.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform