Southern Asia: Market for Self-Propelled Fork-Lift Trucks with Non-Electric Motor 2024

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

The South Asian self-propelled non-electric fork-lift truck market rose markedly to $X in 2022, with an increase of 6.8% against the previous year. Overall, consumption, however, continues to indicate a noticeable curtailment. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

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

In value terms, self-propelled non-electric fork-lift truck production expanded sharply to $X in 2022 estimated in export price. Over the period under review, production, however, showed a perceptible decrease. The pace of growth was the most pronounced in 2020 with an increase of 36% against the previous year. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

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

Exports in Southern Asia

In 2022, shipments abroad of self-propelled fork-lift trucks with non-electric motor increased by 27% to X units, rising for the second year in a row after two years of decline. Over the period under review, exports, however, showed a drastic downturn. The pace of growth appeared the most rapid in 2016 when exports increased by 180%. The volume of export peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, self-propelled non-electric fork-lift truck exports skyrocketed to $X in 2022. Overall, exports, however, faced a deep downturn. The growth pace was the most rapid in 2021 with an increase of 69%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The biggest shipments were from India (X units), together reaching 95% of total export.

India was also the fastest-growing in terms of the self-propelled fork-lift trucks with non-electric motor exports, with a CAGR of -7.2% from 2012 to 2022. While the share of India (+2.4 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest self-propelled non-electric fork-lift truck supplier in Southern Asia.

From 2012 to 2022, the average annual growth rate of value in India stood at -11.3%.

Export Prices by Country

The export price in Southern Asia stood at $X per unit in 2022, waning by -8.8% against the previous year. Overall, the export price continues to indicate a noticeable contraction. The pace of growth was the most pronounced in 2013 when the export price increased by 55% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2014 to 2022, the export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to -4.4% per year.

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

Imports in Southern Asia

In 2022, after two years of growth, there was significant decline in purchases abroad of self-propelled fork-lift trucks with non-electric motor, when their volume decreased by -10% to X units. Total imports indicated a slight expansion from 2012 to 2022: its volume increased at an average annual rate of +1.3% 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 +32.3% against 2019 indices. The growth pace was the most rapid in 2015 with an increase of 24% against the previous year. The volume of import peaked at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, self-propelled non-electric fork-lift truck imports contracted to $X in 2022. Overall, imports continue to indicate a mild downturn. The growth pace was the most rapid in 2021 with an increase of 40%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, India (X units), distantly followed by Pakistan (X units), Bangladesh (X units) and Sri Lanka (X units) represented the key importers of self-propelled fork-lift trucks with non-electric motor, together mixing up 95% of total imports. Maldives (X units), Afghanistan (X units) and Nepal (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Maldives (with a CAGR of +16.0%), 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 Southern Asia were Bangladesh ($X), India ($X) and Pakistan ($X), with a combined 90% share of total imports. Sri Lanka, Afghanistan, Maldives and Nepal lagged somewhat behind, together comprising a further 10%.

In terms of the main importing countries, Maldives, with a CAGR of +20.8%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Southern Asia stood at $X per unit in 2022, falling by -2.9% against the previous year. Overall, the import price continues to indicate a noticeable shrinkage. The pace of growth was the most pronounced in 2019 when the import price increased by 35% against the previous year. 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 Bangladesh ($X per unit), while Maldives ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Maldives (+4.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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