Thailand: Non-Self-Propelled Fork-Lift Truck Market 2025

Non-Self-Propelled Fork-Lift Truck Market Size in Thailand

In 2022, the Thai non-self-propelled fork-lift truck market increased by 2.6% to $X, rising for the third consecutive year after three years of decline. Over the period under review, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Non-Self-Propelled Fork-Lift Truck Production in Thailand

In value terms, non-self-propelled fork-lift truck production stood at $X in 2022 estimated in export price. In general, production showed a strong expansion. The pace of growth appeared the most rapid in 2019 when the production volume increased by 232% against the previous year. Non-self-propelled fork-lift truck production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Non-Self-Propelled Fork-Lift Truck Exports

Exports from Thailand

In 2022, approx. X units of non-self-propelled fork-lift trucks were exported from Thailand; waning by -43.7% against the previous year's figure. Overall, exports, however, saw strong growth. The pace of growth appeared the most rapid in 2013 when exports increased by 137% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, non-self-propelled fork-lift truck exports surged to $X in 2022. In general, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 80% against the previous year. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Malaysia (X units) was the main destination for non-self-propelled fork-lift truck exports from Thailand, with a 26% share of total exports. Moreover, non-self-propelled fork-lift truck exports to Malaysia exceeded the volume sent to the second major destination, Myanmar (X units), twofold. The third position in this ranking was held by Lao People's Democratic Republic (X units), with a 9.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Malaysia stood at +27.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Myanmar (+31.1% per year) and Lao People's Democratic Republic (+3.7% per year).

In value terms, Malaysia ($X), Lao People's Democratic Republic ($X) and the United States ($X) constituted the largest markets for non-self-propelled fork-lift truck exported from Thailand worldwide, with a combined 79% share of total exports. India, China, the United Arab Emirates, Myanmar, Hong Kong SAR, Australia, Bangladesh, Brazil, Kyrgyzstan and Croatia lagged somewhat behind, together accounting for a further 17%.

Brazil, with a CAGR of +253.3%, saw 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

In 2022, the average non-self-propelled fork-lift truck export price amounted to $X per unit, with an increase of 115% against the previous year. Over the period under review, the export price, however, faced a deep contraction. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Lao People's Democratic Republic ($X per unit), while the average price for exports to Croatia ($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 Brazil (+97.3%), while the prices for the other major destinations experienced mixed trend patterns.

Non-Self-Propelled Fork-Lift Truck Imports

Imports into Thailand

After three years of decline, supplies from abroad of non-self-propelled fork-lift trucks increased by 53% to X units in 2022. Overall, imports, however, saw a slight slump. The most prominent rate of growth was recorded in 2018 when imports increased by 86%. As a result, imports attained the peak of X units. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, non-self-propelled fork-lift truck imports totaled $X in 2022. In general, imports, however, saw a perceptible setback. The pace of growth was the most pronounced in 2018 with an increase of 79% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X units) was the main non-self-propelled fork-lift truck supplier to Thailand, with a 95% share of total imports. Moreover, non-self-propelled fork-lift truck imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from China stood at +4.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-20.7% per year) and Sweden (-22.5% per year).

In value terms, China ($X) constituted the largest supplier of non-self-propelled fork-lift trucks to Thailand, comprising 73% of total imports. The second position in the ranking was taken by Japan ($X), with a 9.3% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China totaled +4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-9.8% per year) and Sweden (-23.4% per year).

Import Prices by Country

The average non-self-propelled fork-lift truck import price stood at $X per unit in 2022, with a decrease of -34.2% against the previous year. In general, the import price showed a mild descent. The most prominent rate of growth was recorded in 2021 an increase of 76%. As a result, import price reached the peak level of $X per unit, and then reduced rapidly in the following year.

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 Japan ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+13.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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