U.S.: Market for Fork-Lift Trucks and Other Industrial Works Trucks and Tractors 2022

Market Size for Fork-Lift Trucks and Other Industrial Works Trucks and Tractors in the U.S.

The U.S. market for fork-lift trucks and other industrial works trucks and tractors skyrocketed to $X in 2021, growing by X% against the previous year. Over the period under review, consumption continues to indicate prominent growth. Over the period under review, the market reached the maximum level in 2021 and is expected to retain growth in years to come.

Production of Fork-Lift Trucks and Other Industrial Works Trucks and Tractors in the U.S.

In value terms, production of fork-lift trucks and other industrial works trucks and tractors contracted modestly to $X in 2021. In general, production, however, recorded prominent growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

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

Exports from the U.S.

In 2021, overseas shipments of fork-lift trucks and other industrial works trucks and tractors increased by X% to X units, rising for the second year in a row after two years of decline. In general, exports, however, showed a mild decline. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, the exports attained the peak of X units. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, exports of fork-lift trucks and other industrial works trucks and tractors expanded remarkably to $X in 2021. Overall, exports, however, continue to indicate a mild descent. The pace of growth was the most pronounced in 2016 when exports increased by X%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Canada (X units), the Netherlands (X units) and Mexico (X units) were the main destinations of exports of fork-lift trucks and other industrial works trucks and tractors from the United States, with a combined X% share of total exports. These countries were followed by the UK, Australia, Japan, the United Arab Emirates and Belgium, which together accounted for a further X 2012 to 2020, the biggest increases were in Japan (with a CAGR of +X%), while shipments for the other leaders experienced more modest paces of growth.

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

From 2012 to 2020, 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 the Netherlands (+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 2020, waning by -X% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. 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, and then dropped dramatically in the following year.

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

From 2012 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+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 the U.S.

In 2021, imports of fork-lift trucks and other industrial works trucks and tractors into the United States skyrocketed to X units, picking up by X% against the previous year. In general, imports saw a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of fork-lift trucks and other industrial works trucks and tractors fell to $X in 2021. Overall, imports recorded resilient growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2020, and then reduced in the following year.

Imports by Country

China (X units), Vietnam (X units) and Canada (X units) were the main suppliers of imports of fork-lift trucks and other industrial works trucks and tractors to the United States, together comprising X% of total imports.

From 2012 to 2020, the biggest increases were in Vietnam (with a CAGR of +X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Canada ($X) and South Korea ($X) constituted the largest forklift truck and industrial works truck suppliers to the United States, together comprising X% of total imports. The UK, Germany, Italy, Ireland, Mexico, France, Taiwan (Chinese), Japan and Vietnam lagged somewhat behind, together accounting for a further X the main suppliers, Vietnam, 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

The average import price for fork-lift trucks and other industrial works trucks and tractors stood at $X per unit in 2020, remaining relatively unchanged against the previous year. Over the last eight years, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2017; however, from 2018 to 2020, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was the UK ($X per unit), while the price for Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2020, 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