China: Market for Fork-Lift Trucks and Other Industrial Works Trucks and Tractors 2024

Market Size for Fork-Lift Trucks and Other Industrial Works Trucks and Tractors in China

After three years of decline, the Chinese market for fork-lift trucks and other industrial works trucks and tractors increased by X% to $X in 2022. Overall, consumption, however, recorded a mild shrinkage. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Production of Fork-Lift Trucks and Other Industrial Works Trucks and Tractors in China

In value terms, production of fork-lift trucks and other industrial works trucks and tractors expanded rapidly to $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. Over the period under review, production of attained the maximum level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Exports of Fork-Lift Trucks and Other Industrial Works Trucks and Tractors

Exports from China

In 2022, after two years of growth, there was significant decline in shipments abroad of fork-lift trucks and other industrial works trucks and tractors, when their volume decreased by X% to X units. Over the period under review, exports, however, showed strong growth. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, the exports reached the peak of X units, and then dropped rapidly in the following year.

In value terms, exports of fork-lift trucks and other industrial works trucks and tractors surged to $X in 2022. In general, exports, however, saw strong growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.

Exports by Country

The United States (X units) was the main destination for exports of fork-lift trucks and other industrial works trucks and tractors from China, with a X% share of total exports. Moreover, exports of fork-lift trucks and other industrial works trucks and tractors to the United States exceeded the volume sent to the second major destination, Russia (X units), fivefold. Germany (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (X% per year) and Germany (X% per year).

In value terms, the United States ($X) remains the key foreign market for fork-lift trucks and other industrial works trucks and tractors exports from China, comprising X% of total exports. The second position in the ranking was taken by Australia ($X), with a X% share of total exports. It was followed by the Netherlands, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (X% per year) and the Netherlands (X% per year).

Export Prices by Country

In 2022, the average export price for fork-lift trucks and other industrial works trucks and tractors amounted to $X per unit, growing by X% against the previous year. Overall, the export price posted a buoyant increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to India ($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 Canada (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Fork-Lift Trucks and Other Industrial Works Trucks and Tractors

Imports into China

In 2022, after five years of growth, there was significant decline in supplies from abroad of fork-lift trucks and other industrial works trucks and tractors, when their volume decreased by X% to X units. Over the period under review, imports recorded a slight decline. The growth pace was the most rapid in 2021 when imports increased by X%. As a result, imports attained the peak of X units, and then contracted remarkably in the following year.

In value terms, imports of fork-lift trucks and other industrial works trucks and tractors declined notably to $X in 2022. Overall, total imports indicated a slight 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. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Imports peaked at $X in 2021, and then fell notably in the following year.

Imports by Country

In 2022, Japan (X units) constituted the largest supplier of forklift truck and industrial works truck to China, with a X% share of total imports. Moreover, imports of fork-lift trucks and other industrial works trucks and tractors from Japan exceeded the figures recorded by the second-largest supplier, Germany (X units), twofold. The third position in this ranking was taken by France (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Japan totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and France (X% per year).

In value terms, Germany ($X), Japan ($X) and the United States ($X) were the largest forklift truck and industrial works truck suppliers to China, with a combined X% share of total imports. South Korea, Sweden, Taiwan (Chinese), Italy, the Netherlands, France, Hong Kong SAR and the UK lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Taiwan (Chinese), with a CAGR of X%, recorded the highest rates of growth with regard to 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

The average import price for fork-lift trucks and other industrial works trucks and tractors stood at $X per unit in 2022, surging by X% against the previous year. Overall, the import price saw a tangible expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Taiwan (Chinese) ($X per unit), while the price for France ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ethiopia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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