South-Eastern Asia: Market for Self-Propelled Fork-Lift Trucks with Non-Electric Motor 2025

Market Size for Self-Propelled Fork-Lift Trucks with Non-Electric Motor in South-Eastern Asia

The Southeast Asian self-propelled non-electric fork-lift truck market skyrocketed to $X in 2022, growing by 29% against the previous year. The total consumption indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +93.6% against 2016 indices. The level of consumption peaked in 2022 and is likely to see steady growth in the immediate term.

Production of Self-Propelled Fork-Lift Trucks with Non-Electric Motor in South-Eastern Asia

In value terms, self-propelled non-electric fork-lift truck production skyrocketed to $X in 2022 estimated in export price. Overall, production continues to indicate a tangible expansion. The pace of growth appeared the most rapid in 2020 when the production volume increased by 269%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Exports of Self-Propelled Fork-Lift Trucks with Non-Electric Motor

Exports in South-Eastern Asia

In 2022, overseas shipments of self-propelled fork-lift trucks with non-electric motor increased by 15% to X units, rising for the second year in a row after two years of decline. Total exports indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +28.7% against 2020 indices. The growth pace was the most rapid in 2018 with an increase of 59% against the previous year. As a result, the exports attained the peak of X units. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, self-propelled non-electric fork-lift truck exports dropped to $X in 2022. Over the period under review, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 50% against the previous year. As a result, the exports reached the peak of $X, and then dropped in the following year.

Exports by Country

Singapore represented the largest exporter of self-propelled fork-lift trucks with non-electric motor in South-Eastern Asia, with the volume of exports amounting to X units, which was approx. 62% of total exports in 2022. It was distantly followed by Vietnam (X units), Thailand (X units) and Malaysia (X units), together achieving a 36% share of total exports.

Exports from Singapore increased at an average annual rate of +1.0% from 2012 to 2022. At the same time, Vietnam (+30.9%) and Thailand (+21.5%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +30.9% from 2012-2022. By contrast, Malaysia (-11.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Vietnam and Thailand increased by +15 and +11 percentage points, respectively.

In value terms, Vietnam ($X) remains the largest self-propelled non-electric fork-lift truck supplier in South-Eastern Asia, comprising 59% of total exports. The second position in the ranking was taken by Singapore ($X), with a 26% share of total exports. It was followed by Thailand, with a 5.9% share.

In Vietnam, self-propelled non-electric fork-lift truck exports increased at an average annual rate of +58.8% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (-9.4% per year) and Thailand (+1.4% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per unit, reducing by -24.9% against the previous year. Over the period under review, the export price recorded a mild contraction. The most prominent rate of growth was recorded in 2020 when the export price increased by 39% against the previous year. The level of export peaked at $X per unit in 2021, and then plummeted in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per unit), while Singapore ($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 (+21.3%), while the other leaders experienced a decline in the export price figures.

Imports of Self-Propelled Fork-Lift Trucks with Non-Electric Motor

Imports in South-Eastern Asia

In 2022, overseas purchases of self-propelled fork-lift trucks with non-electric motor increased by 17% to X units, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +2.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 26% against the previous year. Over the period under review, imports hit record highs at X units in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, self-propelled non-electric fork-lift truck imports skyrocketed to $X in 2022. Overall, imports, however, showed a relatively flat trend pattern. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

The countries with the highest levels of self-propelled non-electric fork-lift truck imports in 2022 were Thailand (X units), Indonesia (X units), Vietnam (X units), Malaysia (X units), the Philippines (X units) and Singapore (X units), together finishing at 97% of total import.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +14.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest self-propelled non-electric fork-lift truck importing markets in South-Eastern Asia were Indonesia ($X), Thailand ($X) and Vietnam ($X), together accounting for 73% of total imports.

Vietnam, with a CAGR of +13.0%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per unit, surging by 9% against the previous year. Over the period under review, the import price, however, showed a noticeable contraction. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Indonesia ($X per unit), while Singapore ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+0.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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