U.S.: 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 the U.S.

In 2022, the U.S. market for fork-lift trucks and other industrial works trucks and tractors increased by X% to $X for the first time since 2019, thus ending a two-year declining trend. In general, consumption continues to indicate a prominent expansion. Over the period under review, the market attained the peak level in 2022 and is likely to continue growth in the immediate term.

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

Exports from the U.S.

In 2022, shipments 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. In general, exports posted a moderate increase. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, the exports attained the peak of X units. From 2015 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of fork-lift trucks and other industrial works trucks and tractors expanded rapidly to $X in 2022. Overall, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Canada (X units) was the main destination for exports of fork-lift trucks and other industrial works trucks and tractors from the United States, accounting for a X% share of total exports. Moreover, exports of fork-lift trucks and other industrial works trucks and tractors to Canada exceeded the volume sent to the second major destination, Mexico (X units), twofold. The Netherlands (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Canada totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and the Netherlands (X% per year).

In value terms, Canada ($X) remains the key foreign market for fork-lift trucks and other industrial works trucks and tractors exports from the United States, comprising X% of total exports. The second position in the ranking was held by Mexico ($X), with a X% share of total exports. It was followed by Australia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Canada stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and Australia (X% per year).

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, leveling off at the previous year. Overall, the export price, however, continues to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2015 when the average export price increased by X% against the previous year. The export price peaked at $X per unit in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per unit), while the average price for exports to the Netherlands ($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 Brazil (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 the U.S.

Imports of fork-lift trucks and other industrial works trucks and tractors into the United States soared to X units in 2022, jumping by X% against the previous year. Over the period under review, total imports indicated prominent growth from 2012 to 2022: its volume 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 decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Over the period under review, imports of attained the peak figure at X units in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of fork-lift trucks and other industrial works trucks and tractors soared to $X in 2022. Overall, imports recorded a resilient expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest supplier of forklift truck and industrial works truck to the United States, with 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, Mexico (X units), more than tenfold. The third position in this ranking was held by Canada (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (X% per year) and Canada (X% per year).

In value terms, China ($X), the UK ($X) and Canada ($X) constituted the largest forklift truck and industrial works truck suppliers to the United States, together comprising X% of total imports.

The UK, with a CAGR of 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

In 2022, the average import price for fork-lift trucks and other industrial works trucks and tractors amounted to $X per unit, rising by X% against the previous year. Overall, import price indicated a remarkable 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, import price for fork-lift trucks and other industrial works trucks and tractors increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in the near future.

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

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

Source: IndexBox Platform

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