Hong Kong SAR, China: Fork-Lift Truck Market 2024

Fork-Lift Truck Market Size in Hong Kong SAR, China

The Hong Kong fork-lift truck market rose sharply to $X in 2022, increasing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded modest growth. Fork-lift truck consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Fork-Lift Truck Exports

Exports from Hong Kong SAR, China

For the fourth consecutive year, Hong Kong SAR recorded decline in overseas shipments of fork-lift trucks, which decreased by X% to X units in 2022. Overall, exports saw a deep reduction. The pace of growth was the most pronounced in 2016 when exports increased by X%. Over the period under review, the exports attained the maximum at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, fork-lift truck exports shrank markedly to $X in 2022. In general, exports continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

China (X units) was the main destination for fork-lift truck exports from Hong Kong SAR, with a X% share of total exports. Moreover, fork-lift truck exports to China exceeded the volume sent to the second major destination, Malaysia (X units), twofold. The United Arab Emirates (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 China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (X% per year) and the United Arab Emirates (X% per year).

In value terms, China ($X), Malaysia ($X) and the United Arab Emirates ($X) constituted the largest markets for fork-lift truck exported from Hong Kong SAR worldwide, together comprising X% of total exports.

Among the main countries of destination, the United Arab Emirates, with a CAGR of X.4%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other 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, with a decrease of X% against the previous year. In general, the export price, however, posted prominent growth. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per unit, and then shrank remarkably in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per unit), while the average price for exports to Macao SAR ($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 the United Arab Emirates (X%), while the prices for the other major destinations experienced more modest paces of growth.

Fork-Lift Truck Imports

Imports into Hong Kong SAR, China

In 2022, overseas purchases of fork-lift trucks increased by X% to X units, rising for the second consecutive year after three years of decline. In general, imports, however, showed a pronounced reduction. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, imports reached the peak figure at X units in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, fork-lift truck imports rose modestly to $X in 2022. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of fork-lift truck to Hong Kong SAR, accounting for a X% share of total imports. Moreover, fork-lift truck imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), fivefold. Germany (X units) ranked third in terms of total imports with a X% share.

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

In value terms, China ($X) constituted the largest supplier of fork-lift trucks to Hong Kong SAR, comprising X% of total imports. The second position in the ranking was taken by Japan ($X), with a X% share of total imports. It was followed by the United States, with a X% share.

From 2012 to 2022, the average annual growth rate of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and the United States (X% per year).

Import Prices by Country

The average fork-lift truck import price stood at $X per unit in 2022, falling by X% against the previous year. Overall, import price indicated a measured increase from 2012 to 2022: its price 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, fork-lift truck import price increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2019 an increase of X%. Over the period under review, average import prices reached the maximum at $X per unit in 2021, and then shrank in the following year.

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

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

Source: IndexBox Platform

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