Serbia: Non-Self-Propelled Fork-Lift Truck Market 2024

Non-Self-Propelled Fork-Lift Truck Market Size in Serbia

After two years of growth, the Serbian non-self-propelled fork-lift truck market decreased by -57% to $X in 2022. Overall, consumption, however, recorded a resilient expansion. As a result, consumption attained the peak level of $X, and then reduced sharply in the following year.

Non-Self-Propelled Fork-Lift Truck Exports

Exports from Serbia

In 2022, shipments abroad of non-self-propelled fork-lift trucks increased by 161% to X units, rising for the sixth year in a row after two years of decline. In general, exports recorded significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, non-self-propelled fork-lift truck exports soared to $X in 2022. Overall, exports, however, continue to indicate a relatively flat trend pattern. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Italy (X units) was the main destination for non-self-propelled fork-lift truck exports from Serbia, with a 65% share of total exports. Moreover, non-self-propelled fork-lift truck exports to Italy exceeded the volume sent to the second major destination, Bosnia and Herzegovina (X units), threefold. The third position in this ranking was held by North Macedonia (X units), with a 7.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Italy totaled +33.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (+36.2% per year) and North Macedonia (+30.4% per year).

In value terms, the largest markets for non-self-propelled fork-lift truck exported from Serbia were Italy ($X), Montenegro ($X) and Bosnia and Herzegovina ($X), together comprising 79% of total exports. North Macedonia, Slovenia, Croatia and Germany lagged somewhat behind, together accounting for a further 7.2%.

Slovenia, with a CAGR of +33.9%, saw the highest growth rate of the value of exports, among 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 non-self-propelled fork-lift truck export price stood at $X per unit in 2022, with a decrease of -18% against the previous year. In general, the export price saw a deep reduction. The pace of growth was the most pronounced in 2015 an increase of 62%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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 Montenegro ($X per unit), while the average price for exports to Germany ($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 Slovenia (-4.7%), while the prices for the other major destinations experienced a decline.

Non-Self-Propelled Fork-Lift Truck Imports

Imports into Serbia

In 2022, overseas purchases of non-self-propelled fork-lift trucks decreased by -30.3% to X units for the first time since 2016, thus ending a five-year rising trend. Over the period under review, imports, however, continue to indicate a significant increase. The growth pace was the most rapid in 2021 with an increase of 105% against the previous year. As a result, imports reached the peak of X units, and then fell notably in the following year.

In value terms, non-self-propelled fork-lift truck imports reduced markedly to $X in 2022. In general, imports, however, recorded a buoyant increase. The pace of growth was the most pronounced in 2021 with an increase of 152%. As a result, imports attained the peak of $X, and then dropped notably in the following year.

Imports by Country

China (X units), Bulgaria (X units) and Sweden (X units) were the main suppliers of non-self-propelled fork-lift truck imports to Serbia, together comprising 83% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Bulgaria (with a CAGR of +69.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest non-self-propelled fork-lift truck suppliers to Serbia were China ($X), Bulgaria ($X) and Germany ($X), with a combined 76% share of total imports. Sweden, Turkey, Poland, Vietnam and Belgium lagged somewhat behind, together comprising a further 12%.

Vietnam, with a CAGR of +79.6%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

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 -29% against the previous year. Over the period under review, the import price saw a abrupt setback. The pace of growth appeared the most rapid in 2021 when the average import price increased by 23%. Over the period under review, average import prices attained the maximum at $X per unit in 2014; however, from 2015 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 Germany ($X per unit), while the price for Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+15.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform