Sri Lanka: Non-Self-Propelled Fork-Lift Truck Market 2025

Non-Self-Propelled Fork-Lift Truck Market Size in Sri Lanka

The Sri Lankan non-self-propelled fork-lift truck market dropped markedly to $X in 2022, with a decrease of -40.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption saw a pronounced contraction. Non-self-propelled fork-lift truck consumption peaked at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Non-Self-Propelled Fork-Lift Truck Exports

Exports from Sri Lanka

In 2022, shipments abroad of non-self-propelled fork-lift trucks was finally on the rise to reach X units after two years of decline. Overall, exports recorded slight growth. The most prominent rate of growth was recorded in 2017 with an increase of 311% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, non-self-propelled fork-lift truck exports declined significantly to $X in 2022. In general, exports, however, continue to indicate a dramatic curtailment. The most prominent rate of growth was recorded in 2016 when exports increased by 2,384%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

The Dominican Republic (X units) was the main destination for non-self-propelled fork-lift truck exports from Sri Lanka, accounting for a 65% share of total exports. Moreover, non-self-propelled fork-lift truck exports to the Dominican Republic exceeded the volume sent to the second major destination, the United Arab Emirates (X units), sixfold. The third position in this ranking was taken by Bahrain (X units), with a 5.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Dominican Republic was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-19.7% per year) and Bahrain (0.0% per year).

In value terms, the largest markets for non-self-propelled fork-lift truck exported from Sri Lanka were Bahrain ($X), the United Arab Emirates ($X) and Kenya ($X), with a combined 87% share of total exports. Ethiopia, the Dominican Republic and India lagged somewhat behind, together comprising a further 13%.

Ethiopia, with a CAGR of +21.5%, recorded the highest rates of growth with regard to the value of exports, in terms of 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

In 2022, the average non-self-propelled fork-lift truck export price amounted to $X per unit, falling by -89.6% against the previous year. In general, the export price saw a sharp curtailment. The pace of growth was the most pronounced in 2016 an increase of 1,832%. Over the period under review, the average export prices reached the maximum at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bahrain ($X per unit), while the average price for exports to the Dominican Republic ($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 Ethiopia (+21.5%), while the prices for the other major destinations experienced mixed trend patterns.

Non-Self-Propelled Fork-Lift Truck Imports

Imports into Sri Lanka

In 2022, non-self-propelled fork-lift truck imports into Sri Lanka shrank significantly to X units, declining by -44.2% against 2021. Over the period under review, imports continue to indicate a slight decline. The most prominent rate of growth was recorded in 2018 when imports increased by 129%. Over the period under review, imports reached the peak figure at X units in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, non-self-propelled fork-lift truck imports dropped dramatically to $X in 2022. In general, imports saw a noticeable setback. The most prominent rate of growth was recorded in 2019 with an increase of 108% against the previous year. Over the period under review, imports reached the maximum at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of non-self-propelled fork-lift truck to Sri Lanka, with a 77% share of total imports. Moreover, non-self-propelled fork-lift truck imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), sixfold. Japan (X units) ranked third in terms of total imports with a 3.2% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+37.1% per year) and Japan (-20.1% per year).

In value terms, Germany ($X), China ($X) and Italy ($X) were the largest non-self-propelled fork-lift truck suppliers to Sri Lanka, with a combined 80% share of total imports.

Among the main suppliers, Italy, with a CAGR of +12.9%, 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

In 2022, the average non-self-propelled fork-lift truck import price amounted to $X per unit, surging by 31% against the previous year. In general, the import price, however, saw a noticeable contraction. The pace of growth appeared the most rapid in 2019 when the average import price increased by 38%. Over the period under review, average import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+156.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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