Fork-Lift Truck Price in South Korea - 2022
Contents:
- Fork-Lift Truck Price in South Korea (FOB) - 2022
- Fork-Lift Truck Price in South Korea (CIF) - 2022
- Fork-Lift Truck Exports in South Korea
- Fork-Lift Truck Imports in South Korea
Fork-Lift Truck Price in South Korea (FOB) - 2022
The average fork-lift truck export price stood at $25,840 per unit in 2022, increasing by 11% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average export price increased by 75%. The export price peaked at $31,257 per unit in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($34,585 per unit), while the average price for exports to Taiwan (Chinese) ($487 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 (+2.8%), while the prices for the other major destinations experienced more modest paces of growth.
Fork-Lift Truck Price in South Korea (CIF) - 2022
The average fork-lift truck import price stood at $6,770 per unit in December 2022, declining by -11.7% against the previous month. Over the last twelve months, it increased at an average monthly rate of +1.2%. The most prominent rate of growth was recorded in January 2022 when the average import price increased by 24% against the previous month. The import price peaked at $9,394 per unit in October 2022; afterwards, it flattened through to December 2022.
Prices varied noticeably by the country of origin: the country with the highest price was Japan ($18,155 per unit), while the price for China ($4,255 per unit) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by India (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Fork-Lift Truck Exports in South Korea
In 2022, exports of fork-lift trucks from South Korea surged to 37K units, jumping by 21% against the previous year's figure. In general, total exports indicated a significant increase from 2019 to 2022: its volume increased at an average annual rate of +20.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +76.3% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 41% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the near future.
In value terms, fork-lift truck exports skyrocketed to $951M in 2022. Over the period under review, total exports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +13.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +94.5% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 45%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.
| Export of Fork-Lift Truck in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 327 | 245 | 395 | 630 | 24.4% |
| Belgium | 57.3 | 41.0 | 49.0 | 39.3 | -11.8% |
| Turkey | 3.0 | 13.6 | 19.6 | 27.9 | 110.3% |
| China | 15.1 | 25.4 | 28.9 | 22.2 | 13.7% |
| Australia | 18.5 | 12.7 | 21.9 | 20.8 | 4.0% |
| Germany | 27.0 | 16.2 | 19.9 | 20.0 | -9.5% |
| United Kingdom | 25.7 | 13.0 | 22.9 | 19.2 | -9.3% |
| South Africa | 13.6 | 6.2 | 13.1 | 17.9 | 9.6% |
| Hungary | 1.0 | 1.9 | 2.2 | 9.6 | 112.5% |
| India | 4.6 | 2.7 | 6.6 | 8.2 | 21.3% |
| Singapore | 1.9 | 1.1 | 1.8 | 7.8 | 60.1% |
| Poland | 8.1 | 7.0 | 8.2 | 3.8 | -22.3% |
| Taiwan (Chinese) | 0.3 | 0.2 | 1.0 | 0.8 | 38.7% |
| Others | 150 | 103 | 121 | 124 | -6.1% |
| Total | 653 | 489 | 711 | 951 | 13.4% |
Top Export Markets for Fork-Lift Truck from South Korea in 2022:
- United States (18.2K units)
- India (3.3K units)
- Belgium (1.9K units)
- Taiwan (Chinese) (1.7K units)
- China (1.2K units)
- Germany (1.0K units)
- Turkey (0.9K units)
- Hungary (0.8K units)
- United Kingdom (0.8K units)
- Singapore (0.7K units)
- Australia (0.6K units)
- South Africa (0.6K units)
- Poland (0.1K units)
Fork-Lift Truck Imports in South Korea
In 2022, imports of fork-lift trucks into South Korea surged to 45K units, increasing by 25% against the previous year. Overall, total imports indicated significant growth from 2019 to 2022: its volume increased at an average annual rate of +24.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +95.0% against 2019 indices. The growth pace was the most rapid in 2020 when imports increased by 50%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.
In value terms, fork-lift truck imports skyrocketed to $328M in 2022. In general, imports posted a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Fork-Lift Truck in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 36.3 | 44.9 | 76.1 | 169 | 67.0% |
| Japan | 64.7 | 64.6 | 94.8 | 94.7 | 13.5% |
| Germany | 7.9 | 8.5 | 5.7 | 10.9 | 11.3% |
| Others | 31.8 | 24.6 | 25.3 | 53.7 | 19.1% |
| Total | 141 | 143 | 202 | 328 | 32.5% |
Top Suppliers of Fork-Lift Truck to South Korea in 2022:
- China (35.9K units)
- Japan (5.3K units)
- Germany (0.6K units)
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