The import of parts of fork-lift trucks to Vietnam has exhibited significant growth over the past decade. Starting from 280.63 thousand kilograms in 2013, it reached 1070.3 thousand kilograms in 2023. Notably, the period saw a pronounced increase between 2015 and 2017, followed by a relatively steady growth trend afterwards. From 2022 to 2023, the imports saw a moderate year-on-year increase of 4.66%, while the average annual growth rate over the past five years (CAGR) stands at 5.42%.
Forecasts indicate continued growth, with an expected annual compound growth rate of 3.02% over the next five years, culminating in 1295.6 thousand kilograms by 2028. This translates to a projected growth rate of 16.04% from 2023 to 2028.
Future trends to watch for:
• Technological advancements and automation in the logistics sector, which could influence the demand for parts.
• Economic policies and trade agreements that may impact import regulations and costs.
• The rate of industrial growth in Vietnam, driving the need for more forklifts and associated parts.
• Global supply chain dynamics and their effect on the availability and price of forklift parts.
