U.S.: Forklift Truck Market Overview 2021

Forklift Truck Market Size in the U.S.

In 2019, after two years of growth, there was decline in the U.S. forklift truck market, when its value decreased by -X% to $X. Over the period under review, consumption, however, continues to indicate perceptible growth. The pace of growth was the most pronounced in 2017 when the market value increased by X% y-o-y. Over the period under review, the market reached the peak level at $X in 2018, and then contracted in the following year.

Forklift Truck Production in the U.S.

In value terms, forklift truck production expanded remarkably to $X in 2019. In general, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of X% year-to-year. Over the period under review, production hit record highs at $X in 2009; however, from 2010 to 2019, production failed to regain the momentum.

Forklift Truck Exports

Exports from the U.S.

In 2019, the amount of fork-lift trucks and other works trucks, tractors of the type used on railway station platforms exported from the U.S. dropped rapidly to X units, declining by -X% compared with the previous year. In general, exports recorded a pronounced curtailment. The growth pace was the most rapid in 2008 when exports increased by X% against the previous year. As a result, exports reached the peak of X units. From 2009 to 2019, the growth exports remained at a somewhat lower figure.

In value terms, forklift truck exports stood at $X in 2019. Overall, exports recorded a mild slump. The pace of growth was the most pronounced in 2010 when exports increased by X% y-o-y. Over the period under review, exports hit record highs at $X in 2013; however, from 2014 to 2019, exports remained at a lower figure.

Exports by Country

Canada (X units), Mexico (X units) and Australia (X units) were the main destinations of forklift truck exports from the U.S., together comprising X% of total exports. The UK, the Netherlands, Belgium, Brazil, South Korea and Chile lagged somewhat behind, together accounting for a further X 2007 to 2019, the biggest increases were in Chile, while shipments for the other leaders experienced more modest paces of growth.

In value terms, Canada ($X) remains the key foreign market for forklift truck exports from the U.S., comprising X% of total exports. The second position in the ranking was occupied by Mexico ($X), with a X% share of total exports. It was followed by Belgium, with a X% share.

From 2007 to 2019, the average annual growth rate of value to Canada totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+X% per year) and Belgium (-X% per year).

Export Prices by Country

The average forklift truck export price stood at $X per unit in 2019, growing by X% against the previous year. Over the period under review, export price indicated a pronounced increase from 2007 to 2019: its price increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2009 when the average export price increased by X% against the previous year. The export price peaked in 2019 and is likely to continue growth in years to come.

Prices varied noticeably by the country of destination; the country with the highest price was Belgium ($X per unit), while the average price for exports to the UK ($X per unit) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Canada, while the prices for the other major destinations experienced more modest paces of growth.

Forklift Truck Imports

Imports into the U.S.

After two years of growth, overseas purchases of fork-lift trucks and other works trucks, tractors of the type used on railway station platforms decreased by -X% to X units in 2019. In general, imports, however, recorded resilient growth. The pace of growth was the most pronounced in 2010 with an increase of X% against the previous year. Imports peaked at X units in 2018, and then declined slightly in the following year.

In value terms, forklift truck imports reduced to $X in 2019. Over the period under review, imports, however, continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2011 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2018, and then contracted modestly in the following year.

Imports by Country

Canada (X units), the UK (X units) and China (X units) were the main suppliers of forklift truck imports to the U.S., with a combined X% share of total imports. These countries were followed by South Korea, Italy, Ireland, Germany, the Netherlands and Mexico, which together accounted for a further X 2007 to 2019, the biggest increases were in Mexico, while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest forklift truck suppliers to the U.S. were Canada ($X), the UK ($X) and South Korea ($X), together comprising X% of total imports. China, Italy, Germany, Ireland, Mexico and the Netherlands lagged somewhat behind, together comprising a further X saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average forklift truck import price stood at $X per unit in 2019, remaining stable against the previous year. In general, the import price recorded a mild decrease. The most prominent rate of growth was recorded in 2011 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2007; however, from 2008 to 2019, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2019, the country with the highest price was Mexico ($X per unit), while the price for the Netherlands ($X per unit) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Mexico, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for fork-lift trucks and other works trucks, tractors of the type used on railway station platforms in the world?

+

The U.S. (1.5M units) remains the largest forklift truck consuming country worldwide, accounting for 29% of total volume. Moreover, forklift truck consumption in the U.S. exceeded the figures recorded by the second-largest consumer, China (499K units), threefold. The third position in this ranking was occupied by Japan (376K units), with a 7.5% share.

What are the largest producers of fork-lift trucks and other works trucks, tractors of the type used on railway station platforms in the world?

+

China (2.2M units) remains the largest forklift truck producing country worldwide, comprising approx. 44% of total volume. Moreover, forklift truck production in China exceeded the figures recorded by the second-largest producer, Japan (529K units), fourfold. The third position in this ranking was occupied by the U.S. (453K units), with a 8.9% share.

What are the leading suppliers of fork-lift trucks and other works trucks, tractors of the type used on railway station platforms to the U.S.?

+

In value terms, the largest forklift truck suppliers to the U.S. were Canada ($610M), the UK ($433M) and South Korea ($363M), with a combined 45% share of total imports. These countries were followed by China, Italy, Germany, Ireland, Mexico and the Netherlands, which together accounted for a further 46%.

What are the leading importers of fork-lift trucks and other works trucks, tractors of the type used on railway station platforms from the U.S.?

+

In value terms, Canada ($736M) remains the key foreign market for forklift truck exports from the U.S., comprising 37% of total exports. The second position in the ranking was occupied by Mexico ($323M), with a 16% share of total exports. It was followed by Belgium, with a 7% share.

What is the average export price for fork-lift trucks and other works trucks, tractors of the type used on railway station platforms in the U.S.?

+

In 2019, the average forklift truck export price amounted to $22,250 per unit, growing by 46% against the previous year.

What is the average import price for fork-lift trucks and other works trucks, tractors of the type used on railway station platforms in the U.S.?

+

In 2019, the average forklift truck import price amounted to $2,860 per unit, remaining constant against the previous year.