Eastern Asia: 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 Eastern Asia

In 2023, after two years of growth, there was significant decline in the East Asian market for fork-lift trucks and other industrial works trucks and tractors, when its value decreased by X% to $X. Over the period under review, consumption recorded a abrupt curtailment. The level of consumption peaked at $X in 2017; however, from 2018 to 2023, consumption remained at a lower figure.

Production of Fork-Lift Trucks and Other Industrial Works Trucks and Tractors in Eastern Asia

In value terms, production of fork-lift trucks and other industrial works trucks and tractors declined slightly to $X in 2023 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2018 to 2023, production of growth failed to regain momentum.

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

Exports in Eastern Asia

After three years of growth, shipments abroad of fork-lift trucks and other industrial works trucks and tractors decreased by X% to X units in 2023. Total exports indicated a perceptible expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports of attained the peak figure at X units in 2022, and then shrank slightly in the following year.

In value terms, exports of fork-lift trucks and other industrial works trucks and tractors rose rapidly to $X in 2023. Overall, exports, however, saw prominent growth. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The level of export peaked in 2023 and is likely to see gradual growth in the immediate term.

Exports by Country

China prevails in tractors structure, resulting at X units, which was near X% of total exports in 2023. Japan (X units) followed a long way behind the leaders.

China was also the fastest-growing in terms of the fork-lift trucks and other industrial works trucks and tractors exports, with a CAGR of X% from 2012 to 2023. Japan (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Japan (X p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest forklift truck and industrial works truck supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Japan ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in China amounted to X%.

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2023, surging by X% against the previous year. Export price indicated perceptible growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, export price for fork-lift trucks and other industrial works trucks and tractors increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2022 an increase of X%. The level of export peaked in 2023 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per unit), while China totaled $X per unit.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%).

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

Imports in Eastern Asia

Imports of fork-lift trucks and other industrial works trucks and tractors was estimated at X units in 2023, growing by X% on the previous year's figure. Total imports indicated a prominent increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2017 indices. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. The volume of import peaked in 2023 and is likely to see gradual growth in years to come.

In value terms, imports of fork-lift trucks and other industrial works trucks and tractors shrank modestly to $X in 2023. Over the period under review, imports continue to indicate prominent growth. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, imports of hit record highs at $X in 2022, and then shrank in the following year.

Imports by Country

Taiwan (Chinese) (X units) and South Korea (X units) were the main importers of fork-lift trucks and other industrial works trucks and tractors in 2023, finishing at approx. X% and X% of total imports, respectively. China (X units) took the next position in the ranking, followed by Japan (X units). All these countries together took near X% share of total imports. Hong Kong SAR (X units) took a relatively small share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Japan (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), China ($X) and Taiwan (Chinese) ($X) were the countries with the highest levels of imports in 2023, with a combined X% share of total imports. Japan and Hong Kong SAR lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Japan, 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 2023, the import price in Eastern Asia amounted to $X per unit, falling by X% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of X%. The level of import peaked at $X per unit in 2019; however, from 2020 to 2023, import prices stood at a somewhat lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform