South-Eastern Asia: Non-Self-Propelled Fork-Lift Truck Market 2024

Non-Self-Propelled Fork-Lift Truck Market Size in South-Eastern Asia

The Southeast Asian non-self-propelled fork-lift truck market amounted to $X in 2022, surging by 2.9% against the previous year. The market value increased at an average annual rate of +1.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Non-Self-Propelled Fork-Lift Truck Production in South-Eastern Asia

In value terms, non-self-propelled fork-lift truck production rose to $X in 2022 estimated in export price. Over the period under review, production, however, showed a strong expansion. The most prominent rate of growth was recorded in 2015 with an increase of 117%. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Non-Self-Propelled Fork-Lift Truck Exports

Exports in South-Eastern Asia

In 2022, approx. X units of non-self-propelled fork-lift trucks were exported in South-Eastern Asia; dropping by -7.3% compared with 2021 figures. Overall, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 288% against the previous year. The volume of export peaked at X units in 2021, and then contracted in the following year.

In value terms, non-self-propelled fork-lift truck exports declined to $X in 2022. Over the period under review, exports, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2018 with an increase of 38% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Vietnam represented the largest exporting country with an export of around X units, which finished at 70% of total exports. It was distantly followed by Malaysia (X units), mixing up a 29% share of total exports.

Vietnam was also the fastest-growing in terms of the non-self-propelled fork-lift trucks exports, with a CAGR of +85.7% from 2012 to 2022. At the same time, Malaysia (+60.0%) displayed positive paces of growth. While the share of Vietnam (+63 p.p.) and Malaysia (+16 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest non-self-propelled fork-lift truck supplying countries in South-Eastern Asia were Vietnam ($X) and Malaysia ($X).

Vietnam, with a CAGR of +46.6%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per unit in 2022, stabilizing at the previous year. In general, the export price faced a dramatic curtailment. The pace of growth appeared the most rapid in 2018 when the export price increased by 9.5%. Over the period under review, the export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Malaysia ($X per unit), while Vietnam amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (-21.1%).

Non-Self-Propelled Fork-Lift Truck Imports

Imports in South-Eastern Asia

In 2022, overseas purchases of non-self-propelled fork-lift trucks increased by 47% to X units, rising for the second consecutive year after two years of decline. Total imports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +58.9% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, non-self-propelled fork-lift truck imports skyrocketed to $X in 2022. Over the period under review, imports, however, showed a noticeable downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 18%. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Vietnam (X units), Thailand (X units) and Singapore (X units) represented roughly 77% of total imports in 2022. Malaysia (X units) ranks next in terms of the total imports with a 10% share, followed by Indonesia (7.4%). The Philippines (X units) held a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Singapore (with a CAGR of +17.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest non-self-propelled fork-lift truck importing markets in South-Eastern Asia were Singapore ($X), Vietnam ($X) and Malaysia ($X), with a combined 70% share of total imports.

In terms of the main importing countries, Vietnam, with a CAGR of +0.7%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per unit in 2022, dropping by -21.4% against the previous year. In general, the import price recorded a deep reduction. The pace of growth appeared the most rapid in 2021 when the import price increased by 9.8% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (-1.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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