Thailand: 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 Thailand

The Thai self-propelled non-electric fork-lift truck market skyrocketed to $X in 2022, picking up by 23% against the previous year. In general, consumption saw strong growth. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in the immediate term.

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

In value terms, self-propelled non-electric fork-lift truck production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production posted prominent growth. The most prominent rate of growth was recorded in 2020 with an increase of 216%. 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 from Thailand

In 2022, overseas shipments of self-propelled fork-lift trucks with non-electric motor decreased by -13.4% to X units, falling for the second consecutive year after two years of growth. Overall, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 507%. As a result, the exports reached the peak of X units. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, self-propelled non-electric fork-lift truck exports reduced sharply to $X in 2022. In general, exports, however, saw a slight increase. The most prominent rate of growth was recorded in 2020 when exports increased by 151% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The Czech Republic (X units) was the main destination for self-propelled non-electric fork-lift truck exports from Thailand, with a 49% share of total exports. Moreover, self-propelled non-electric fork-lift truck exports to the Czech Republic exceeded the volume sent to the second major destination, Vietnam (X units), threefold. The United Arab Emirates (X units) ranked third in terms of total exports with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Czech Republic amounted to +25.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+22.5% per year) and the United Arab Emirates (+50.0% per year).

In value terms, the largest markets for self-propelled non-electric fork-lift truck exported from Thailand were the United Arab Emirates ($X), Lao People's Democratic Republic ($X) and Cambodia ($X), with a combined 43% share of total exports. Myanmar, Vietnam, Indonesia and the Czech Republic lagged somewhat behind, together accounting for a further 22%.

Among the main countries of destination, the Czech Republic, with a CAGR of +47.8%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average self-propelled non-electric fork-lift truck export price stood at $X per unit in 2022, declining by -17.4% against the previous year. In general, the export price recorded a abrupt setback. The pace of growth appeared the most rapid in 2018 when the average export price increased by 43% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2019 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Cambodia ($X per unit), while the average price for exports to the Czech Republic ($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 the Czech Republic (+17.9%), while the prices for the other major destinations experienced a decline.

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

Imports into Thailand

Self-propelled non-electric fork-lift truck imports into Thailand amounted to X units in 2022, picking up by 14% against the year before. Over the period under review, imports saw a perceptible increase. The pace of growth appeared the most rapid in 2021 when imports increased by 93%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, self-propelled non-electric fork-lift truck imports expanded significantly to $X in 2022. In general, imports, however, showed a pronounced shrinkage. The pace of growth appeared the most rapid in 2021 with an increase of 20%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

China (X units) and Japan (X units) were the main suppliers of self-propelled non-electric fork-lift truck imports to Thailand.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +14.4%).

In value terms, the largest self-propelled non-electric fork-lift truck suppliers to Thailand were China ($X) and Japan ($X).

Among the main suppliers, China, with a CAGR of +6.8%, saw the highest growth rate of the value of imports, over the period under review.

Import Prices by Country

The average self-propelled non-electric fork-lift truck import price stood at $X per unit in 2022, waning by -4.9% against the previous year. In general, the import price saw a abrupt downturn. The most prominent rate of growth was recorded in 2019 an increase of 8% against the previous year. As a result, import price attained the peak level of $X per unit. From 2020 to 2022, the average import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per unit), while the price for Japan stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-6.6%).

Source: IndexBox Platform

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