Vietnam: Non-Self-Propelled Fork-Lift Truck Market 2024

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

The Vietnamese non-self-propelled fork-lift truck market contracted significantly to $X in 2022, waning by -47.9% against the previous year. In general, consumption continues to indicate a deep downturn. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

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

In value terms, non-self-propelled fork-lift truck production amounted to $X in 2022 estimated in export price. Over the period under review, production, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2019 when the production volume increased by 114% against the previous year. Non-self-propelled fork-lift truck production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Non-Self-Propelled Fork-Lift Truck Exports

Exports from Vietnam

In 2022, overseas shipments of non-self-propelled fork-lift trucks decreased by -5% to X units for the first time since 2011, thus ending a ten-year rising trend. In general, exports, however, enjoyed significant growth. The growth pace was the most rapid in 2013 when exports increased by 319%. The exports peaked at X units in 2021, and then shrank in the following year.

In value terms, non-self-propelled fork-lift truck exports shrank to $X in 2022. Over the period under review, exports, however, posted a significant increase. The pace of growth appeared the most rapid in 2013 when exports increased by 172% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then declined in the following year.

Exports by Country

Germany (X units) was the main destination for non-self-propelled fork-lift truck exports from Vietnam, with a 28% share of total exports. Moreover, non-self-propelled fork-lift truck exports to Germany exceeded the volume sent to the second major destination, Belgium (X units), threefold. Italy (X units) ranked third in terms of total exports with a 7.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany amounted to +98.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+161.8% per year) and Italy (+98.5% per year).

In value terms, Germany ($X) remains the key foreign market for non-self-propelled fork-lift trucks exports from Vietnam, comprising 28% of total exports. The second position in the ranking was taken by Belgium ($X), with an 11% share of total exports. It was followed by Spain, with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany totaled +55.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+103.1% per year) and Spain (+56.4% per year).

Export Prices by Country

In 2022, the average non-self-propelled fork-lift truck export price amounted to $X per unit, dropping by -5.9% against the previous year. In general, the export price showed a sharp setback. The pace of growth was the most pronounced in 2021 when the average export price increased by 7%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were the UK ($X per unit) and Spain ($X per unit), while the average price for exports to Italy ($X per unit) and France ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Jordan (+7.0%), while the prices for the other major destinations experienced a decline.

Non-Self-Propelled Fork-Lift Truck Imports

Imports into Vietnam

In 2022, non-self-propelled fork-lift truck imports into Vietnam surged to X units, with an increase of 41% against the year before. In general, imports continue to indicate a prominent expansion. The growth pace was the most rapid in 2014 with an increase of 48%. Imports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, non-self-propelled fork-lift truck imports rose rapidly to $X in 2022. Overall, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when imports increased by 34% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest non-self-propelled fork-lift truck supplier to Vietnam, accounting for a 86% share of total imports. Moreover, non-self-propelled fork-lift truck imports from China exceeded the figures recorded by the second-largest supplier, Poland (X units), eightfold. The Czech Republic (X units) ranked third in terms of total imports with a 1.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +18.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+106.4% per year) and the Czech Republic (+62.6% per year).

In value terms, China ($X) constituted the largest supplier of non-self-propelled fork-lift trucks to Vietnam, comprising 65% of total imports. The second position in the ranking was held by Poland ($X), with an 8.8% share of total imports. It was followed by Japan, with a 3.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +13.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+112.0% per year) and Japan (-20.6% per year).

Import Prices by Country

The average non-self-propelled fork-lift truck import price stood at $X per unit in 2022, declining by -21.4% against the previous year. Over the period under review, the import price continues to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2015 an increase of 13%. The import price peaked 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 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 (+4.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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