Global Fork-Lift Truck Market 2025

Fork-Lift Truck Market Size

The global fork-lift truck market expanded markedly to $X in 2022, growing by 8.1% against the previous year. Overall, consumption enjoyed a strong increase. Over the period under review, the global market attained the peak level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Fork-Lift Truck Production

In value terms, fork-lift truck production totaled $X in 2022 estimated in export price. In general, the total production indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +4.6% 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 -2.2% against 2020 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 39% against the previous year. Global production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Fork-Lift Truck Exports

Exports

In 2022, shipments abroad of fork-lift trucks increased by 6.5% to X units, rising for the second consecutive year after two years of decline. Overall, total exports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +44.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 35% against the previous year. Over the period under review, the global exports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, fork-lift truck exports skyrocketed to $X in 2022. In general, total exports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +51.8% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by 28%. The global exports peaked in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

China prevails in exports structure, resulting at X units, which was near 53% of total exports in 2022. Vietnam (X units) held the second position in the ranking, followed by Sweden (X units) and Germany (X units). All these countries together held approx. 17% share of total exports. The Netherlands (X units), Italy (X units), the UK (X units), Malaysia (X units), France (X units), the United States (X units) and Belgium (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to fork-lift truck exports from China stood at +5.9%. At the same time, Vietnam (+84.3%), Malaysia (+53.0%), the UK (+5.7%), the Netherlands (+5.2%), Italy (+3.6%), Germany (+3.5%), France (+3.1%), the United States (+3.0%), Belgium (+2.8%) and Sweden (+1.8%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in the world, with a CAGR of +84.3% from 2012-2022. Vietnam (+6.8 p.p.) and Malaysia (+2.7 p.p.) significantly strengthened its position in terms of the global exports, while Sweden saw its share reduced by -2.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Germany ($X) and the United States ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 49% share of global exports. Italy, France, the UK, the Netherlands, Sweden, Belgium, Vietnam and Malaysia lagged somewhat behind, together comprising a further 29%.

Among the main exporting countries, Vietnam, with a CAGR of +51.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average fork-lift truck export price amounted to $X per unit, growing by 11% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The global export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+8.4%), while the other global leaders experienced more modest paces of growth.

Fork-Lift Truck Imports

Imports

In 2022, overseas purchases of fork-lift trucks increased by 21% to X units, rising for the second consecutive year after four years of decline. Overall, imports enjoyed a resilient increase. The pace of growth was the most pronounced in 2016 with an increase of 284% against the previous year. As a result, imports attained the peak of X units. From 2017 to 2022, the growth of global imports remained at a somewhat lower figure.

In value terms, fork-lift truck imports skyrocketed to $X in 2022. Over the period under review, total imports indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +51.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 27%. Over the period under review, global imports reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, the United States (X units), followed by Germany (X units), the UK (X units), France (X units), Canada (X units) and the Netherlands (X units) represented the largest importers of fork-lift trucks, together achieving 46% of total imports. The following importers - Spain (X units), Italy (X units), Belgium (X units), Poland (X units), India (X units), Australia (X units) and Brazil (X units) - together made up 20% of total imports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +24.5%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($X) constitutes the largest market for imported fork-lift trucks worldwide, comprising 18% of global imports. The second position in the ranking was taken by Canada ($X), with a 6.1% share of global imports. It was followed by Germany, with a 5.2% share.

In the United States, fork-lift truck imports expanded at an average annual rate of +11.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Canada (+4.3% per year) and Germany (+4.5% per year).

Import Prices by Country

In 2022, the average fork-lift truck import price amounted to $X per unit, reducing by -1.9% against the previous year. Overall, the import price continues to indicate a mild slump. The most prominent rate of growth was recorded in 2018 an increase of 250% against the previous year. Global import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Australia ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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