Vietnam: Market for Self-Propelled Fork-Lift Trucks with Non-Electric Motor 2025

Market Size for Self-Propelled Fork-Lift Trucks with Non-Electric Motor in Vietnam

The Vietnamese self-propelled non-electric fork-lift truck market soared to $X in 2022, increasing by 19% against the previous year. Overall, consumption, however, continues to indicate a perceptible descent. Self-propelled non-electric fork-lift truck consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

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

In value terms, self-propelled non-electric fork-lift truck production skyrocketed to $X in 2022 estimated in export price. In general, production, however, recorded a abrupt contraction. The pace of growth was the most pronounced in 2020 with an increase of 475%. Self-propelled non-electric fork-lift truck production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

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

Exports from Vietnam

In 2022, shipments abroad of self-propelled fork-lift trucks with non-electric motor decreased by -25.8% to X units for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, saw a significant expansion. The growth pace was the most rapid in 2019 when exports increased by 337% against the previous year. The exports peaked at X units in 2021, and then contracted significantly in the following year.

In value terms, self-propelled non-electric fork-lift truck exports declined rapidly to $X in 2022. Overall, exports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2019 when exports increased by 706%. Over the period under review, the exports hit record highs at $X in 2021, and then fell remarkably in the following year.

Exports by Country

The United States (X units) was the main destination for self-propelled non-electric fork-lift truck exports from Vietnam, accounting for a 60% share of total exports. Moreover, self-propelled non-electric fork-lift truck exports to the United States exceeded the volume sent to the second major destination, South Korea (X units), fourfold. The third position in this ranking was taken by Australia (X units), with a 4.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +82.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+60.4% per year) and Australia (+40.5% per year).

In value terms, the United States ($X) remains the key foreign market for self-propelled fork-lift trucks with non-electric motor exports from Vietnam, comprising 61% of total exports. The second position in the ranking was held by South Korea ($X), with a 20% share of total exports. It was followed by Australia, with a 3.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +153.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+109.6% per year) and Australia (+63.4% per year).

Export Prices by Country

In 2022, the average self-propelled non-electric fork-lift truck export price amounted to $X per unit, remaining stable against the previous year. Overall, the export price saw a significant increase. The most prominent rate of growth was recorded in 2017 when the average export price increased by 238% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2020; however, from 2021 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 South Korea ($X per unit), while the average price for exports to Norway ($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 United States (+38.4%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into Vietnam

In 2022, imports of self-propelled fork-lift trucks with non-electric motor into Vietnam contracted modestly to X units, waning by -4.3% against the previous year. In general, imports, however, recorded prominent growth. The pace of growth was the most pronounced in 2015 with an increase of 43% against the previous year. Over the period under review, imports reached the maximum at X units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, self-propelled non-electric fork-lift truck imports reduced to $X in 2022. Over the period under review, imports, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2015 when imports increased by 43% against the previous year. Imports peaked at $X in 2021, and then declined in the following year.

Imports by Country

China (X units), Japan (X units) and Sweden (X units) were the main suppliers of self-propelled non-electric fork-lift truck imports to Vietnam, together comprising 92% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +27.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest self-propelled non-electric fork-lift truck suppliers to Vietnam were Japan ($X), China ($X) and Sweden ($X), together comprising 90% of total imports. The Netherlands and the United States lagged somewhat behind, together comprising a further 1.8%.

In terms of the main suppliers, the Netherlands, with a CAGR of +28.8%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average self-propelled non-electric fork-lift truck import price amounted to $X per unit, which is down by -5.7% against the previous year. Overall, the import price continues to indicate a slight descent. The growth pace was the most rapid in 2013 when the average import price increased by 17% against the previous year. The import price peaked at $X per unit in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

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 (+4.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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