There are various types of forklifts, mainly including internal combustion forklifts, electric forklifts, and warehouse forklifts.
Globally and in the Asia-Pacific region, the major exporters of forklifts include Toyota Industries, Mitsubishi Heavy Industries, Komatsu, KION Group, and Linde Material Handling.
In Vietnam, the demand for forklifts has been growing steadily with the rapid economic development and industrialization. According to the publisher, the logistics, warehousing, and manufacturing sectors in Vietnam have a particularly strong demand for forklifts. However, the domestic production capacity is relatively lagging, unable to meet local demand in Vietnam. Therefore, the Vietnamese forklift market relies heavily on imported products to satisfy the increasing needs. In recent years, Vietnam has imported a large number of forklifts from Japan, China, South Korea, and Europe, including many second-hand forklifts, to support the development of its local logistics and manufacturing industries.
Forklifts play a crucial role in enhancing logistics efficiency and reducing labor costs. With the accelerated industrialization and modernization in Vietnam, the forklift market has promising prospects, and the demand will continue to grow. According to the publisher's data, the import value of forklifts in Vietnam reached nearly US$ 180 million in 2023. From January to May 2024, the import value of forklifts in Vietnam was already close to US$ 80 million, indicating a continuously increasing market demand.
The analysis of the publisher indicates that from 2021 to 2024, the main sources of forklift imports in Vietnam include China, Japan, and Singapore. Major companies exporting forklifts to Vietnam include UMW Equipment & Engineering Pte Ltd., Anhui Heli Industrial Vehicle Import and Export Co., Ltd., and Mitsubishi Logisnext Asia Pacific Pte. Ltd. There are many manufacturers and import-export traders involved, with a growing number of Chinese exports to Vietnam in recent years.
The primary importers of forklifts in Vietnam are construction, warehousing, and logistics-related engineering vehicle dealers. According to the publisher, these importers include both local and foreign enterprises such as Binh Minh Forklift Co., Ltd., UMW Vietnam, and Thien Son Forklift.
Overall, with the growth of Vietnam's population, industrial development, and ongoing urbanization, the demand for forklifts in Vietnam will continue to increase. The publisher forecasts that in the coming years, the import of forklifts in Vietnam is expected to maintain a growth trend, which will play an important role in stabilizing and growing Vietnam's industry.
Topics covered:
- The Import and Export of Forklift in Vietnam (2021-2024)
- Total Import Volume and Percentage Change of Forklift in Vietnam (2021-2024)
- Total Import Value and Percentage Change of Forklift in Vietnam (2021-2024)
- Total Import Volume and Percentage Change of Forklift in Vietnam (January-May 2024)
- Total Import Value and Percentage Change of Forklift in Vietnam (January-May 2024)
- Average Import Price of Forklift in Vietnam (2021-2024)
- Top 10 Sources of Forklift Imports in Vietnam and Their Supply Volume
- Top 10 Suppliers in the Import Market of Forklift in Vietnam and Their Supply Volume
- Top 10 Importers of Forklift in Vietnam and Their Import Volume
- How to Find Distributors and End Users of Forklift in Vietnam
- How Foreign Enterprises Enter the Forklift Market of Vietnam
- Forecast for the Import of Forklift in Vietnam (2024-2033)
Table of Contents
Companies Mentioned
- UMW EQUIPMENT & ENGINEERING PTE LTD.
- ANHUI HELI INDUSTRIAL VEHICLE IMPORT AND EXPORT CO. LTD.
- MITSUBISHI LOGISNEXT ASIA PACIFIC PTE. LTD.
- BINH MINH FORKLIFT CO LTD
- UMW VIETNAM
- THIEN SON FORKLIFT
Methodology
Background research defines the range of products and industries, which proposes the key points of the research. Proper classification will help clients understand the industry and products in the report.
Secondhand material research is a necessary way to push the project into fast progress. The analyst always chooses the data source carefully. Most secondhand data they quote is sourced from an authority in a specific industry or public data source from governments, industrial associations, etc. For some new or niche fields, they also "double-check" data sources and logics before they show them to clients.
Primary research is the key to solve questions, which largely influence the research outputs. The analyst may use methods like mathematics, logical reasoning, scenario thinking, to confirm key data and make the data credible.
The data model is an important analysis method. Calculating through data models with different factors weights can guarantee the outputs objective.
The analyst optimizes the following methods and steps in executing research projects and also forms many special information gathering and processing methods.
1. Analyze the life cycle of the industry to understand the development phase and space.
2. Grasp the key indexes evaluating the market to position clients in the market and formulate development plans
3. Economic, political, social and cultural factors
4. Competitors like a mirror that reflects the overall market and also market differences.
5. Inside and outside the industry, upstream and downstream of the industry chain, show inner competitions
6. Proper estimation of the future is good guidance for strategic planning.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 80 |
| Published | August 2024 |
| Forecast Period | 2024 - 2033 |
| Estimated Market Value ( USD | $ 190 Million |
| Forecasted Market Value ( USD | $ 321 Million |
| Compound Annual Growth Rate | 6.0% |
| Regions Covered | Vietnam |
| No. of Companies Mentioned | 6 |
