Asia: Fork-Lift Truck Market 2024

Fork-Lift Truck Market Size in Asia

The Asian fork-lift truck market dropped modestly to $X in 2022, falling by X% against the previous year. The total consumption indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Fork-Lift Truck Production in Asia

In value terms, fork-lift truck production contracted slightly to $X in 2022 estimated in export price. The total production indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2020 indices. The pace of growth was the most pronounced in 2015 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Fork-Lift Truck Exports

Exports in Asia

In 2022, shipments abroad of fork-lift trucks increased by X% to X units, rising for the second consecutive year after two years of decline. Total exports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in the immediate term.

In value terms, fork-lift truck exports surged to $X in 2022. Over the period under review, exports posted a buoyant expansion. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. The level of export peaked in 2022 and is likely to continue growth in years to come.

Exports by Country

China prevails in exports structure, reaching X units, which was near X% of total exports in 2022. It was distantly followed by Malaysia (X units), mixing up a X% share of total exports.

Exports from China increased at an average annual rate of X% from 2012 to 2022. At the same time, Malaysia (X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. While the share of Malaysia (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of China (X p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest fork-lift truck supplier in Asia, comprising X% of total exports. The second position in the ranking was taken by Malaysia ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in China amounted to X%.

Export Prices by Country

The export price in Asia stood at $X per unit in 2022, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per unit), while Malaysia totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%).

Fork-Lift Truck Imports

Imports in Asia

For the fourth consecutive year, Asia recorded growth in supplies from abroad of fork-lift trucks, which increased by X% to X units in 2022. Total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2018 indices. The pace of growth appeared the most rapid in 2016 when imports increased by X% against the previous year. The volume of import peaked in 2022 and is likely to see steady growth in the immediate term.

In value terms, fork-lift truck imports surged to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The level of import peaked in 2022 and is likely to continue growth in the near future.

Imports by Country

In 2022, India (X units), distantly followed by Turkey (X units), Singapore (X units), the United Arab Emirates (X units), Thailand (X units), Vietnam (X units) and Malaysia (X units) were the main importers of fork-lift trucks, together achieving X% of total imports. South Korea (X units), Taiwan (Chinese) (X units), Indonesia (X units), Qatar (X units), Israel (X units) and the Philippines (X units) followed a long way behind the leaders.

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

In value terms, Turkey ($X), South Korea ($X) and Thailand ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

In terms of the main importing countries, South Korea, with a CAGR of X%, 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 import price in Asia amounted to $X per unit, approximately equating the previous year. In general, the import price continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2021 when the import price increased by X%. The level of import 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 South Korea ($X per unit), while Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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