India: 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 India

For the third year in a row, the Indian market for fork-lift trucks and other industrial works trucks and tractors recorded growth in sales value, which increased by X% to $X in 2022. In general, consumption posted buoyant growth. Consumption of peaked in 2022 and is expected to retain growth in the near future.

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

Exports from India

For the fifth consecutive year, India recorded growth in shipments abroad of fork-lift trucks and other industrial works trucks and tractors, which increased by X% to X units in 2022. Over the period under review, exports continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2021 with an increase of X%. The exports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, exports of fork-lift trucks and other industrial works trucks and tractors skyrocketed to $X in 2022. Overall, exports continue to indicate resilient growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Poland (X units), Germany (X units) and the United States (X units) were the main destinations of exports of fork-lift trucks and other industrial works trucks and tractors from India, together accounting for X% of total exports. France, Nepal, Canada, the Netherlands, Slovenia, Qatar, Nigeria, the United Arab Emirates, Guinea and Italy lagged somewhat behind, together accounting for a further X%.

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

In value terms, the United States ($X), Canada ($X) and the United Arab Emirates ($X) appeared to be the largest markets for forklift truck and industrial works truck exported from India worldwide, together comprising X% of total exports. France, Germany, Nigeria, Poland, Nepal, the Netherlands, Qatar, Guinea, Italy and Slovenia lagged somewhat behind, together accounting for a further X%.

Poland, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for fork-lift trucks and other industrial works trucks and tractors stood at $X per unit in 2022, increasing by X% against the previous year. In general, the export price showed pronounced growth. The pace of growth was the most pronounced in 2015 an increase of X%. The export price peaked at $X per unit in 2017; however, from 2018 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 Canada ($X per unit), while the average price for exports to Slovenia ($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 States (X%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into India

In 2022, purchases abroad of fork-lift trucks and other industrial works trucks and tractors increased by X% to X units, rising for the third year in a row after three years of decline. Overall, imports continue to indicate prominent growth. The pace of growth appeared the most rapid in 2021 with an increase of X%. Imports peaked in 2022 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 skyrocketed to $X in 2022. Over the period under review, imports continue to indicate noticeable growth. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, imports of reached the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X units) was the main forklift truck and industrial works truck supplier to India, with a X% share of total imports. It was followed by Japan (X units), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled X%. 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 ($X) constituted the largest supplier of fork-lift trucks and other industrial works trucks and tractors to India, comprising X% of total imports. The second position in the ranking was taken by Japan ($X), with a X% share of total imports.

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

Import Prices by Country

In 2022, the average import 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 import price, however, continues to indicate a deep slump. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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