Uruguay: Fork-Lift Truck Market 2024

Fork-Lift Truck Market Size in Uruguay

The Uruguayan fork-lift truck market stood at $X in 2022, growing by 13% 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 continues to indicate a measured increase. Fork-lift truck consumption peaked in 2022 and is likely to continue growth in years to come.

Fork-Lift Truck Exports

Exports from Uruguay

Fork-lift truck exports from Uruguay skyrocketed to X units in 2022, rising by 21% against the previous year. In general, exports, however, saw a abrupt decline. The pace of growth appeared the most rapid in 2020 when exports increased by 374% against the previous year. As a result, the exports attained the peak of X units. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, fork-lift truck exports expanded markedly to $X in 2022. Overall, exports recorded a prominent increase. The most prominent rate of growth was recorded in 2015 with an increase of 126%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Paraguay (X units) was the main destination for fork-lift truck exports from Uruguay, with a 83% share of total exports. Moreover, fork-lift truck exports to Paraguay exceeded the volume sent to the second major destination, Argentina (X units), tenfold. Mexico (X units) ranked third in terms of total exports with a 6.9% share.

From 2012 to 2022, the average annual growth rate of volume to Paraguay stood at -6.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (+9.6% per year) and Mexico (+32.0% per year).

In value terms, Paraguay ($X) emerged as the key foreign market for fork-lift trucks exports from Uruguay, comprising 77% of total exports. The second position in the ranking was taken by Argentina ($X), with a 20% share of total exports. It was followed by Bolivia, with a 2.1% share.

From 2012 to 2022, the average annual growth rate of value to Paraguay totaled +18.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (+20.5% per year) and Bolivia (+14.1% per year).

Export Prices by Country

The average fork-lift truck export price stood at $X per unit in 2022, dropping by -9.2% against the previous year. Overall, the export price, however, enjoyed a significant expansion. The growth pace was the most rapid in 2013 when the average export price increased by 232%. Over the period under review, the average export prices hit record highs at $X per unit in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Argentina ($X per unit), while the average price for exports to Mexico ($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 Paraguay (+26.4%), while the prices for the other major destinations experienced more modest paces of growth.

Fork-Lift Truck Imports

Imports into Uruguay

In 2022, the amount of fork-lift trucks imported into Uruguay surged to X units, jumping by 26% compared with the year before. Overall, imports saw prominent growth. The growth pace was the most rapid in 2017 when imports increased by 130% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, fork-lift truck imports fell to $X in 2022. In general, imports, however, saw a slight reduction. The pace of growth appeared the most rapid in 2020 with an increase of 44% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest fork-lift truck supplier to Uruguay, accounting for a 86% share of total imports. Moreover, fork-lift truck imports from China exceeded the figures recorded by the second-largest supplier, Brazil (X units), more than tenfold. Germany (X units) ranked third in terms of total imports with a 2.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +8.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+33.5% per year) and Germany (-9.8% per year).

In value terms, China ($X) constituted the largest supplier of fork-lift trucks to Uruguay, comprising 66% of total imports. The second position in the ranking was taken by Germany ($X), with a 7.6% share of total imports. It was followed by Sweden, with a 4.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +6.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-8.6% per year) and Sweden (+32.4% per year).

Import Prices by Country

In 2022, the average fork-lift truck import price amounted to $X per unit, dropping by -25.7% against the previous year. Overall, the import price continues to indicate a deep slump. The most prominent rate of growth was recorded in 2018 when the average import price increased by 60%. The import price peaked at $X per unit in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Brazil ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+1.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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