Self-Propelled Non-Electric Fork-Lift Truck Market

The global market for self-propelled fork-lift trucks with non-electric motor is expected to show positive growth trends in both market volume and value over the period from 2022 to 2030. Consumption has been steadily increasing, with key countries like Belgium, the UK, and China leading the way in both consumption and production. Import and export trends also show growth, with China emerging as the largest exporter in terms of volume, and China and the United States leading in terms of export value. Overall, the market is forecasted to continue on an upward trajectory in the immediate term.

Market Forecast

Driven by increasing demand for self-propelled fork-lift trucks with non-electric motor worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.7% for the period from 2022 to 2030, which is projected to bring the market volume to 1M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.7% for the period from 2022 to 2030, which is projected to bring the market value to $26.4B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Self-Propelled Fork-Lift Trucks with Non-Electric Motor

In 2022, approx. 979K units of self-propelled fork-lift trucks with non-electric motor were consumed worldwide; with an increase of 44% compared with the year before. In general, the total consumption indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +32.3% against 2019 indices. As a result, consumption attained the peak volume and is likely to continue growth in the immediate term.

The global self-propelled non-electric fork-lift truck market value surged to $19.8B in 2022, increasing by 38% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +35.2% against 2019 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Belgium (138K units), the UK (110K units) and China (70K units), together comprising 33% of global consumption. The United States, India, Ireland, Italy, Spain, France, Canada, Brazil, Chile and the Netherlands lagged somewhat behind, together accounting for a further 40%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Ireland (with a CAGR of +55.8%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Belgium ($2.7B), the United States ($2.5B) and the UK ($1.4B) were the countries with the highest levels of market value in 2022, with a combined 34% share of the global market. China, Italy, Ireland, France, India, Canada, Brazil, Chile, Spain and the Netherlands lagged somewhat behind, together accounting for a further 35%.

In terms of the main consuming countries, Ireland, with a CAGR of +52.7%, saw the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of self-propelled non-electric fork-lift truck per capita consumption in 2022 were Belgium (12 units per 1000 persons), Ireland (9.8 units per 1000 persons) and the UK (1.6 units per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Ireland (with a CAGR of +54.4%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Self-Propelled Fork-Lift Trucks with Non-Electric Motor

In 2022, after four years of growth, there was decline in production of self-propelled fork-lift trucks with non-electric motor, when its volume decreased by -2.1% to 665K units. The total output volume increased at an average annual rate of +2.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when the production volume increased by 27% against the previous year. As a result, production reached the peak volume of 679K units, and then dropped slightly in the following year.

In value terms, self-propelled non-electric fork-lift truck production reduced modestly to $12.7B in 2022 estimated in export price. The total output value increased at an average annual rate of +2.0% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when the production volume increased by 15%. Over the period under review, global production attained the maximum level at $13.1B in 2019; however, from 2020 to 2022, production failed to regain momentum.

Production By Country

China (253K units) constituted the country with the largest volume of self-propelled non-electric fork-lift truck production, accounting for 38% of total volume. Moreover, self-propelled non-electric fork-lift truck production in China exceeded the figures recorded by the second-largest producer, the Netherlands (53K units), fivefold. The third position in this ranking was taken by the United States (47K units), with a 7.1% share.

In China, self-propelled non-electric fork-lift truck production expanded at an average annual rate of +8.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the Netherlands (-9.6% per year) and the United States (+1.2% per year).

Imports

World Imports of Self-Propelled Fork-Lift Trucks with Non-Electric Motor

In 2022, approx. 882K units of self-propelled fork-lift trucks with non-electric motor were imported worldwide; jumping by 51% compared with 2021 figures. Overall, imports saw a mild expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, self-propelled non-electric fork-lift truck imports skyrocketed to $11.5B in 2022. The total import value increased at an average annual rate of +2.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 25%. Over the period under review, global imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports By Country

In 2022, Belgium (161K units) and the UK (128K units) represented the key importers of self-propelled fork-lift trucks with non-electric motoracross the globe, together finishing at near 33% of total imports. It was distantly followed by the United States (65K units), Ireland (53K units) and Spain (50K units), together creating a 19% share of total imports. Canada (37K units), France (29K units), the Netherlands (27K units), Chile (24K units), Australia (20K units), Thailand (18K units), Germany (16K units) and Russia (16K units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Ireland (with a CAGR of +77.0%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($2.6B) constitutes the largest market for imported self-propelled fork-lift trucks with non-electric motor worldwide, comprising 23% of global imports. The second position in the ranking was held by Canada ($825M), with a 7.2% share of global imports. It was followed by Australia, with a 5.4% share.

In the United States, self-propelled non-electric fork-lift truck imports increased at an average annual rate of +11.5% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Canada (+2.7% per year) and Australia (+1.7% per year).

Import Prices By Country

The average self-propelled non-electric fork-lift truck import price stood at $13,029 per unit in 2022, which is down by -18.2% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by 27%. Global import price peaked at $22,008 per unit in 2015; however, from 2016 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 the United States ($40,736 per unit), while Ireland ($1,185 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+32.2%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Self-Propelled Fork-Lift Trucks with Non-Electric Motor

In 2022, the amount of self-propelled fork-lift trucks with non-electric motor exported worldwide shrank modestly to 568K units, waning by -2.7% compared with 2021 figures. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 74% against the previous year. Over the period under review, the global exports reached the maximum at 591K units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, self-propelled non-electric fork-lift truck exports surged to $12.3B in 2022. The total export value increased at an average annual rate of +3.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when exports increased by 27% against the previous year. The global exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports By Country

China represented the largest exporting country with an export of around 184K units, which finished at 32% of total exports. The UK (62K units) held an 11% share (based on physical terms) of total exports, which put it in second place, followed by the Netherlands (11%), the United States (8.7%) and France (5.5%). The following exporters - Denmark (23K units), Belgium (23K units), South Korea (19K units), Germany (19K units), Japan (18K units), Spain (14K units), the Czech Republic (14K units) and Italy (10K units) - together made up 24% of total exports.

Exports from China increased at an average annual rate of +12.9% from 2012 to 2022. At the same time, Denmark (+41.0%), the Czech Republic (+22.8%), Spain (+15.7%), Belgium (+13.5%), France (+5.7%), Italy (+2.1%) and South Korea (+1.6%) displayed positive paces of growth. Moreover, Denmark emerged as the fastest-growing exporter exported in the world, with a CAGR of +41.0% from 2012-2022. The United States and the UK experienced a relatively flat trend pattern. By contrast, Germany (-2.8%), Japan (-6.1%) and the Netherlands (-13.6%) illustrated a downward trend over the same period. China (+23 p.p.), Denmark (+3.9 p.p.), Belgium (+2.9 p.p.), France (+2.5 p.p.), the Czech Republic (+2.1 p.p.) and Spain (+1.9 p.p.) significantly strengthened its position in terms of the global exports, while Japan and the Netherlands saw its share reduced by -2.5% and -33.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($3B) remains the largest self-propelled non-electric fork-lift truck supplier worldwide, comprising 24% of global exports. The second position in the ranking was taken by the United States ($1.2B), with a 9.7% share of global exports. It was followed by the UK, with a 9.2% share.

In China, self-propelled non-electric fork-lift truck exports expanded at an average annual rate of +12.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (-0.3% per year) and the UK (+3.0% per year).

Export Prices By Country

The average self-propelled non-electric fork-lift truck export price stood at $21,704 per unit in 2022, with an increase of 26% against the previous year. In general, export price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, self-propelled non-electric fork-lift truck export price decreased by -21.1% against 2019 indices. The pace of growth was the most pronounced in 2017 an increase of 53% against the previous year. Over the period under review, the average export prices attained the peak figure at $27,513 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 amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Italy ($78,658 per unit), while Denmark ($1,168 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+21.9%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform