South Africa: Fork-Lift Truck Market 2024

Fork-Lift Truck Market Size in South Africa

The South African fork-lift truck market expanded notably to $X in 2022, increasing by 8.7% against the previous year. Overall, consumption posted a buoyant expansion. Fork-lift truck consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

Fork-Lift Truck Production in South Africa

In value terms, fork-lift truck production reached $X in 2022 estimated in export price. In general, production recorded a prominent expansion. The growth pace was the most rapid in 2016 with an increase of 503%. Fork-lift truck production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Fork-Lift Truck Exports

Exports from South Africa

In 2022, fork-lift truck exports from South Africa skyrocketed to X units, picking up by 23% against the previous year. Overall, exports showed buoyant growth. The most prominent rate of growth was recorded in 2016 with an increase of 151%. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, fork-lift truck exports expanded markedly to $X in 2022. Over the period under review, exports, however, continue to indicate a noticeable decline. The pace of growth was the most pronounced in 2018 with an increase of 52%. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Botswana (X units) was the main destination for fork-lift truck exports from South Africa, with a 57% share of total exports. Moreover, fork-lift truck exports to Botswana exceeded the volume sent to the second major destination, Uganda (X units), fourfold. Namibia (X units) ranked third in terms of total exports with a 5.1% share.

From 2012 to 2022, the average annual growth rate of volume to Botswana stood at +15.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uganda (+120.7% per year) and Namibia (-2.7% per year).

In value terms, the largest markets for fork-lift truck exported from South Africa were Zimbabwe ($X), Namibia ($X) and Mozambique ($X), with a combined 46% share of total exports. Botswana, Democratic Republic of the Congo, Zambia, Angola, Lesotho and Uganda lagged somewhat behind, together comprising a further 32%.

Uganda, with a CAGR of +26.8%, recorded 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 fork-lift truck export price stood at $X per unit in 2022, shrinking by -8.2% against the previous year. Overall, the export price showed a deep downturn. The pace of growth was the most pronounced in 2018 when the average export price increased by 209% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mozambique ($X per unit), while the average price for exports to Uganda ($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 Lesotho (-0.8%), while the prices for the other major destinations experienced a decline.

Fork-Lift Truck Imports

Imports into South Africa

In 2022, overseas purchases of fork-lift trucks increased by 21% to X units, rising for the third year in a row after two years of decline. Over the period under review, imports posted a perceptible increase. The growth pace was the most rapid in 2021 when imports increased by 78%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, fork-lift truck imports surged to $X in 2022. In general, imports, however, saw a mild reduction. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest fork-lift truck supplier to South Africa, with a 72% share of total imports. Moreover, fork-lift truck imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), more than tenfold. India (X units) ranked third in terms of total imports with a 5.4% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+23.2% per year) and India (+16.3% per year).

In value terms, China ($X) constituted the largest supplier of fork-lift trucks to South Africa, comprising 42% of total imports. The second position in the ranking was held by Japan ($X), with a 15% share of total imports. It was followed by Germany, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +5.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-5.2% per year) and Germany (+2.8% per year).

Import Prices by Country

The average fork-lift truck import price stood at $X per unit in 2022, rising by 25% against the previous year. Overall, the import price, however, recorded a abrupt decline. The growth pace was the most rapid in 2018 an increase of 59% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+8.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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