Latin America and the Caribbean: Market for Fork-Lift Trucks and Other Industrial Works Trucks and Tractors 2024

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

Exports in Latin America and the Caribbean

In 2022, after three years of growth, there was significant decline in overseas shipments 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, saw significant growth. The growth pace was the most rapid in 2021 when exports increased by X%. As a result, the exports reached the peak of X units, and then reduced in the following year.

In value terms, exports of fork-lift trucks and other industrial works trucks and tractors surged to $X in 2022. Overall, exports, however, showed significant growth. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports by Country

Mexico dominates tractors structure, recording X units, which was approx. X% of total exports in 2022. It was distantly followed by Brazil (X units), constituting a X% share of total exports. The following exporters - Belize (X units), Honduras (X units) and Colombia (X units) - together made up X% of total exports.

From 2012 to 2022, average annual rates of growth with regard to forklift truck and industrial works truck exports from Mexico stood at X%. At the same time, Belize (X%), Honduras (X%), Colombia (X%) and Brazil (X%) displayed positive paces of growth. Moreover, Belize emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. While the share of Mexico (X p.p.), Belize (X p.p.) and Honduras (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Brazil (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest forklift truck and industrial works truck supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Brazil ($X), with a X% share of total exports. It was followed by Belize, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Mexico totaled X%. In the other countries, the average annual rates were as follows: Brazil (X% per year) and Belize (X% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per unit, rising by X% against the previous year. Over the period under review, the export price, however, showed a perceptible slump. Over the period under review, the export prices attained the peak figure at $X per unit in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Mexico ($X per unit), while Honduras ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (X%), while the other leaders experienced a decline in the export price figures.

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

Imports in Latin America and the Caribbean

In 2022, supplies from 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 two years of decline. Overall, imports showed a prominent increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. The volume of import peaked in 2022 and is likely to continue growth in the near future.

In value terms, imports of fork-lift trucks and other industrial works trucks and tractors surged to $X in 2022. 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. Based on 2022 figures, imports increased by X% against 2016 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Brazil was the main importing country with an import of about X units, which accounted for X% of total imports. Argentina (X units) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Mexico (X%) and Chile (X%). The following importers - Colombia (X units), Peru (X units) and Ecuador (X units) - each resulted at a X% share of total imports.

Imports into Brazil increased at an average annual rate of X% from 2012 to 2022. At the same time, Argentina (X%), Ecuador (X%), Mexico (X%), Chile (X%), Colombia (X%) and Peru (X%) displayed positive paces of growth. Moreover, Argentina emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Brazil and Argentina increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest forklift truck and industrial works truck importing markets in Latin America and the Caribbean were Brazil ($X), Mexico ($X) and Chile ($X), together accounting for X% of total imports.

In terms of the main importing countries, Mexico, with a CAGR of X%, recorded the highest growth rate of 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

In 2022, the import price in Latin America and the Caribbean amounted to $X per unit, growing by X% against the previous year. Over the period under review, the import price, however, recorded a abrupt slump. The pace of growth appeared the most rapid in 2018 when the import price increased by X%. The level of import peaked at $X per unit in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mexico ($X per unit), while Brazil ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the other leaders experienced a decline in the import price figures.

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Source: IndexBox Platform

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