Uzbekistan: Fork-Lift Truck Market 2024

Fork-Lift Truck Market Size in Uzbekistan

After three years of decline, the Uzbek fork-lift truck market increased by 14% to $X in 2022. Over the period under review, consumption posted buoyant growth. Fork-lift truck consumption peaked in 2022 and is expected to retain growth in the near future.

Fork-Lift Truck Production in Uzbekistan

In value terms, fork-lift truck production contracted modestly to $X in 2022 estimated in export price. In general, the total production indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.1% against 2019 indices. The most prominent rate of growth was recorded in 2016 with an increase of 51% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Fork-Lift Truck Exports

Exports from Uzbekistan

In 2022, fork-lift truck exports from Uzbekistan soared to X units, with an increase of 275% on 2021. Over the period under review, exports continue to indicate significant growth. The pace of growth appeared the most rapid in 2020 when exports increased by 2,217% against the previous year. As a result, the exports reached the peak of X units. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, fork-lift truck exports soared to $X in 2022. Overall, exports posted a significant expansion. The pace of growth was the most pronounced in 2020 with an increase of 570%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Kazakhstan (X units) was the main destination for fork-lift truck exports from Uzbekistan, with a 60% share of total exports. Moreover, fork-lift truck exports to Kazakhstan exceeded the volume sent to the second major destination, Kyrgyzstan (X units), fivefold. The United Arab Emirates (X units) ranked third in terms of total exports with a 13% share.

From 2017 to 2022, the average annual growth rate of volume to Kazakhstan totaled +106.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kyrgyzstan (+32.0% per year) and the United Arab Emirates (0.0% per year).

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for fork-lift trucks exports from Uzbekistan, comprising 74% of total exports. The second position in the ranking was taken by Belarus ($X), with a 20% share of total exports. It was followed by Tajikistan, with a 6.4% share.

From 2017 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Belarus (-5.2% per year) and Tajikistan (-25.0% per year).

Export Prices by Country

The average fork-lift truck export price stood at $X per unit in 2022, rising by 64% against the previous year. Over the period under review, the export price, however, recorded a deep slump. The most prominent rate of growth was recorded in 2019 when the average export price increased by 99% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2020 to 2022, the average export prices remained at a lower figure.

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 the United Arab Emirates ($X per unit), while the average price for exports to Kyrgyzstan ($X per unit) was amongst the lowest.

From 2017 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+464.5%), while the prices for the other major destinations experienced a decline.

Fork-Lift Truck Imports

Imports into Uzbekistan

After three years of decline, purchases abroad of fork-lift trucks increased by 101% to X units in 2022. Overall, imports enjoyed a significant increase. The pace of growth appeared the most rapid in 2018 when imports increased by 304%. As a result, imports reached the peak of X units. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, fork-lift truck imports surged to $X in 2022. In general, total imports indicated significant growth from 2017 to 2022: its value increased at an average annual rate of +20.5% over the last five years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of 114% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X units) was the main supplier of fork-lift truck to Uzbekistan, accounting for a 95% share of total imports. It was followed by Germany (X units), with a 1.7% share of total imports.

From 2017 to 2022, the average annual growth rate of volume from China amounted to +30.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+78.9% per year) and Turkey (-15.3% per year).

In value terms, China ($X) constituted the largest supplier of fork-lift trucks to Uzbekistan, comprising 71% of total imports. The second position in the ranking was held by Germany ($X), with an 11% share of total imports.

From 2017 to 2022, the average annual growth rate of value from China stood at +30.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+71.5% per year) and Turkey (-13.9% per year).

Import Prices by Country

The average fork-lift truck import price stood at $X per unit in 2022, dropping by -36.9% against the previous year. In general, the import price recorded a deep contraction. The most prominent rate of growth was recorded in 2019 when the average import price increased by 59% against the previous year. The import price peaked at $X per unit in 2021, and then fell dramatically 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 Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2017 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+1.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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