Kenya: 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 Kenya

In 2022, the Kenyan market for fork-lift trucks and other industrial works trucks and tractors decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption, however, saw a remarkable increase. As a result, consumption reached the peak level of $X, and then fell significantly in the following year.

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

Exports from Kenya

In 2022, overseas shipments of fork-lift trucks and other industrial works trucks and tractors decreased by X% to X units for the first time since 2014, thus ending a seven-year rising trend. Overall, exports, however, enjoyed significant growth. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the exports of attained the peak figure at X units in 2021, and then contracted markedly in the following year.

In value terms, exports of fork-lift trucks and other industrial works trucks and tractors reached $X in 2022. In general, exports, however, posted significant growth. The growth pace was the most rapid in 2017 when exports increased by X%. Over the period under review, the exports of reached the maximum at $X in 2020; afterwards, it flattened through to 2022.

Exports by Country

Somalia (X units), Uganda (X units) and Burundi (X units) were the main destinations of exports of fork-lift trucks and other industrial works trucks and tractors from Kenya, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Uganda (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Rwanda ($X) emerged as the key foreign market for fork-lift trucks and other industrial works trucks and tractors exports from Kenya, comprising X% of total exports. The second position in the ranking was held by Somalia ($X), with a X% share of total exports. It was followed by Uganda, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Rwanda amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Somalia (X% per year) and Uganda (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. Over the period under review, the export price, however, continues to indicate a perceptible decrease. Over the period under review, the average export prices reached the maximum at $X per unit in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Rwanda ($X per unit), while the average price for exports to Burundi ($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 Uganda (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 Kenya

In 2022, purchases abroad of fork-lift trucks and other industrial works trucks and tractors decreased by X% to X units for the first time since 2017, thus ending a four-year rising trend. Over the period under review, imports, however, enjoyed buoyant growth. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, imports attained the peak of X units, and then shrank dramatically in the following year.

In value terms, imports of fork-lift trucks and other industrial works trucks and tractors contracted to $X in 2022. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then fell in the following year.

Imports by Country

In 2022, China (X units) constituted the largest forklift truck and industrial works truck supplier to Kenya, accounting for a X% share of total imports. Moreover, imports of fork-lift trucks and other industrial works trucks and tractors from China exceeded the figures recorded by the second-largest supplier, Singapore (X units), threefold. Denmark (X units) ranked third in terms of total imports with a X% share.

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: Singapore (X% per year) and Denmark (X% per year).

In value terms, China ($X) constituted the largest supplier of fork-lift trucks and other industrial works trucks and tractors to Kenya, comprising X% of total imports. The second position in the ranking was taken by Singapore ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (X% per year) and Japan (X% 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 2022, jumping by X% against the previous year. Overall, the import price, however, recorded a abrupt decrease. Over the period under review, average import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :