Report Update Apr 1, 2024

Cuba - Fork-Lift Trucks and Other Industrial Works Trucks and Tractors - Market Analysis, Forecast, Size, Trends and Insights

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Cuba: Market for Fork-Lift Trucks and Other Industrial Works Trucks and Tractors 2022

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

In 2021, the Cuban market for fork-lift trucks and other industrial works trucks and tractors increased by 142% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption recorded a remarkable increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

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

Exports from Cuba

In 2021, approx. less than X units of fork-lift trucks and other industrial works trucks and tractors were exported from Cuba; flattening at 2020 figures. In general, exports recorded a relatively flat trend pattern.

In value terms, exports of fork-lift trucks and other industrial works trucks and tractors reduced slightly to $X in 2021. Over the period under review, exports continue to indicate a resilient increase. The pace of growth was the most pronounced in 2015 with an increase of 79%. Over the period under review, the exports of attained the maximum at $X in 2020, and then shrank modestly in the following year.

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

Imports into Cuba

In 2021, supplies from abroad of fork-lift trucks and other industrial works trucks and tractors increased by 204% to X units, rising for the second year in a row after two years of decline. Over the period under review, imports continue to indicate significant growth. The pace of growth was the most pronounced in 2020 when imports increased by 212%. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, imports of fork-lift trucks and other industrial works trucks and tractors fell to $X in 2021. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 91% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

Spain (X units), China (X units) and Russia (X units) were the main suppliers of imports of fork-lift trucks and other industrial works trucks and tractors to Cuba, together comprising 83% of total imports.

From 2012 to 2021, the biggest increases were in Russia (with a CAGR of +115.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X) constituted the largest supplier of forklift truck and industrial works truck to Cuba, comprising 36% of total imports. The second position in the ranking was held by China ($X), with a 15% share of total imports. It was followed by South Korea, with a 4.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Spain stood at +9.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-11.3% per year) and South Korea (+24.9% per year).

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 2021, reducing by -71.4% against the previous year. Overall, the import price saw a abrupt shrinkage. The growth pace was the most rapid in 2018 an increase of 142% against the previous year. The import price peaked at $X per unit in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per unit), while the price for Russia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+17.6%), while the prices for the other major suppliers experienced mixed trend patterns.

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Frequently Asked Questions (FAQ) :

What are the largest markets for fork-lift trucks and other industrial works trucks and tractors in the world?

The countries with the highest volumes of consumption in 2020 were China, the United States and Japan, together comprising 53% of global consumption. These countries were followed by Germany, Mexico, France, the UK, Thailand, the Netherlands, South Korea, Canada and Vietnam, which together accounted for a further 25%.

What are the largest producers of fork-lift trucks and other industrial works trucks and tractors in the world?

China remains the largest forklift truck and industrial works truck producing country worldwide, comprising approx. 69% of total volume. Moreover, production of fork-lift trucks and other industrial works trucks and tractors in China exceeded the figures recorded by the second-largest producer, Germany, ninefold. The third position in this ranking was taken by Japan, with a 4.8% share.

What are the leading suppliers of fork-lift trucks and other industrial works trucks and tractors to Cuba?

In value terms, Spain constituted the largest supplier of forklift truck and industrial works truck to Cuba, comprising 36% of total imports. The second position in the ranking was taken by China, with a 15% share of total imports. It was followed by South Korea, with a 4.2% share.

What is the average import price for fork-lift trucks and other industrial works trucks and tractors in Cuba?

The average import price for fork-lift trucks and other industrial works trucks and tractors stood at $1,451 per unit in 2021, dropping by -71.4% against the previous year.

This report provides an in-depth analysis of the market for forklift truck and industrial works truck in Cuba. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 28221513 - Self-propelled fork-lift trucks powered by an electric motor, w ith a lifting height . 1 m
Prodcom 28221515 - Self-propelled fork-lift trucks powered by an electric motor, w ith a lifting height < 1 m
Prodcom 28221530 - Self-propelled trucks fitted with lifting or handling equipment, n on-powered by an electric motor
Prodcom 28221550 - Fork-lift trucks and other works trucks fitted with lifting or handling equipment (excluding self-propelled trucks)
Prodcom 28221570 - Works trucks, self-propelled, not fitted with lifting or handling equipment, of the type used in factories, warehouses, dock areas or airports for short distance transport of goods, t ractors of the type used on railway station platforms

Country coverage:

Cuba

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Cuba
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023