Market evolution: Electric forklift trucks (CN 842710) — 2015–2025

Introduction

This report examines the evolution of EU extra-EU trade in self-propelled trucks fitted with lifting or handling equipment powered by an electric motor (Combined Nomenclature code 842710) over the period 2015–2025. The product heading covers two sub-categories: trucks with a lifting height of 1 metre or more (CN 84271010), which dominate trade volumes, and those with a lifting height below 1 metre (CN 84271090). The period under review spans a decade of transformative change in the material-handling industry, shaped by the global shift to lithium-ion battery technology, the post-COVID logistics boom, Russia's invasion of Ukraine, and the rapid industrialisation of China's forklift sector. Against this backdrop, the EU has remained a net exporter of electric forklifts, yet its import profile has been fundamentally reshaped by a surge of Chinese-origin equipment arriving at dramatically lower unit prices.

Overview of CN 842710 trade data

A tidal wave of Chinese imports reconfigures the EU market

Import values have more than quadrupled in a decade

EU imports of electric forklifts from non-EU countries grew from €240.6 million in 2015 to €1,021.2 million in 2025, an increase of 324.4 %. In net-mass terms the expansion was even steeper, rising from 46,628 t to 234,715 t (+403.4 %). The supplementary unit count — the actual number of vehicles — tells the most striking story: imports surged from 51,465 pieces to 365,714 pieces, a sixfold increase of 610.6 %. This means the EU was importing roughly seven times more electric forklift units at the end of the period than at the start.

The simultaneous collapse in the average price per unit — from €4,675 to €2,792 (−40.3 %) — points to the arrival of large volumes of competitively priced equipment, much of it from China, where production costs and pricing strategies differ markedly from European manufacturers.

China has become the dominant import source

China's share of EU electric-forklift imports has transformed from a significant minority to an overwhelming majority. In 2015, China supplied €60.7 million worth of imports, representing roughly one-quarter of the total. By 2025, Chinese-origin imports had reached €722.0 million — a 1,089 % increase — accounting for approximately 70.7 % of all EU imports. No other partner comes close: the United Kingdom, the second-largest source, supplied €143.9 million in 2025, barely one-fifth of the Chinese figure.

This dominance is even more pronounced in unit terms. The sub-segment data reveals that imports of high-lift trucks (CN 84271010) rose from 16,263 to 174,719 units, while their average unit price fell from €8,232 to €4,046 per piece — a decline of 50.8 %. This halving of the per-unit price for the core sub-product is consistent with the competitive pricing strategies of major Chinese manufacturers such as BYD, Heli, Lonking and EP Equipment, whose lithium-ion forklifts have gained significant market share globally by undercutting established European and Japanese brands.

Trade by partner country

Import concentration has nearly doubled as China crowds out diversification

The Herfindahl-Hirschman Index (HHI) for EU imports by value rose from 2,705 in 2015 to 5,305 in 2025 — an increase of 96.1 %. By volume, the HHI climbed from 2,569 to 6,361 (+147.7 %). Both readings indicate a market that has shifted from moderate concentration to a highly concentrated import structure, driven almost entirely by the gravitational pull of China. This rising concentration carries strategic implications: any disruption to Chinese supply — whether from trade measures, logistics bottlenecks, or production issues — would now affect a much larger share of the EU's import basket than it would have a decade ago.

Import and export concentration (HHI)

EU exports grow through pricing power and geopolitical realignment

Export values nearly double while unit volumes remain broadly flat

EU extra-EU exports of electric forklifts increased from €1,217.6 million in 2015 to €2,265.6 million in 2025, a gain of 86.1 %. The peak was reached in 2023 at €2,568.9 million. In net-mass terms, exports grew more modestly from 184,076 t to 253,184 t (+37.5 %). Most strikingly, the supplementary unit count — the number of vehicles exported — barely moved, rising from 163,719 to 165,562 pieces (+1.1 %). This stark divergence between value and volume tells a clear story: the EU is exporting roughly the same number of electric forklifts as a decade ago, but each unit is substantially more valuable.

The average export unit value climbed from €7,437 per piece to €13,684 per piece (+84.0 %), reflecting a combination of inflation, technological upgrading (larger trucks, lithium-ion batteries, higher-specification equipment), and a shift in the product mix towards premium segments. EU manufacturers — notably Germany's Kion Group (Linde, STILL), Sweden's Toyota Material Handling Europe (formerly BT), and Italy's Combilift — have focused on higher-value, technology-intensive forklifts rather than competing head-to-head with Chinese producers on price in the low-end segment.

Russia vanishes from the export map as the UK and United States absorb capacity

The most dramatic geographic shift in EU exports has been the collapse of trade with Russia. In 2015, the Russian Federation was the fifth-largest export destination, absorbing €75.2 million of EU electric-forklift exports. By 2025, this had fallen to just €562,219 — a decline of 99.3 % — reflecting the comprehensive EU sanctions regime imposed following Russia's full-scale invasion of Ukraine in February 2022. The peak before the collapse was €158.2 million (likely around 2021), underscoring the scale of the market that was lost.

This lost volume has been more than compensated by growth elsewhere:

The United Kingdom has consolidated its position as the single largest export market, growing from €313.0 million to €682.3 million (+118.0 %), driven in part by post-Brexit trade flows and continued strong demand in UK warehousing and logistics. The United States has been the fastest-growing major market, with exports surging 160.9 % to €347.3 million, peaking at €573.9 million in 2023. Norway, Switzerland, and Türkiye have all seen robust growth, reflecting broad-based demand from advanced and emerging economies alike.

Notably, EU exports to China declined from €51.0 million to €21.2 million (−58.4 %), a mirror image of the import surge. This reversal likely reflects the growing competitiveness of Chinese domestic manufacturers, who now dominate their own market and are increasingly exporting rather than importing forklifts.

Trade by partner country

Export prices diverge sharply from import prices, revealing a two-tier market

A comparison of unit prices at the sub-product level reveals the growing segmentation of the global electric-forklift market. For high-lift trucks (CN 84271010), EU export unit values rose from €14,410 per piece in 2015 to €20,792 per piece in 2025 (+44.3 %), while import unit values for the same sub-product fell from €8,232 to €4,046 (−50.8 %). The resulting price gap — exports at roughly five times the import price — indicates that the EU specialises in large, high-specification, premium-priced forklifts, while the import market is increasingly filled with lower-cost, often Chinese-origin vehicles.

This pricing dynamic confirms a structural bifurcation: EU producers retain a strong competitive advantage in high-end, heavy-duty forklifts sold to sophisticated markets, while the mass market for standard electric forklifts is increasingly served by Chinese imports. Price shocks detected in the data — a 35.3 % spike in Chinese import prices in 2022 (likely linked to post-COVID cost pressures and lithium-ion battery price inflation) and an unusual 13.1 % jump in UK import prices in 2023 — illustrate the volatility inherent in this rapidly evolving market.

Supply shock detection

EU production surges but the net exporter margin is narrowing

Domestic production more than doubles in both volume and value

EU production of electric forklift trucks (CN 842710) expanded from 209,608 units in 2015 to 438,566 units in 2025, an increase of 109.2 %. In value terms, the growth was even more impressive: production rose from €2,610 million to €7,974 million (+205.5 %). The production value growth outpacing volume growth by a factor of two indicates significant technological upgrading, inflation, and a shift towards higher-value models within the EU's manufacturing base.

EU production volumes

The EU's output expansion has been anchored by a handful of specialised member states. In 2025, Germany accounted for 38.5 % of EU export value in this product, followed by Sweden (15.4 %) and Italy (13.5 %). These three countries alone represented nearly two-thirds of EU export capacity. Czechia emerged as a notable new player, with its export value surging from €1.1 million to €115.4 million (+10,822 %), suggesting the establishment of significant manufacturing or assembly operations — possibly by major groups expanding production into Central Europe to take advantage of lower labour costs while remaining within the single market.

EU specialisation by member state

The EU remains a net exporter, but the surplus is eroding

Throughout the period, the EU maintained a positive trade balance in electric forklifts, confirming its status as a net exporter. The surplus widened from €977.0 million in 2015 to a peak of €1,714.8 million (likely around 2022), before narrowing to €1,244.4 million in 2025. Net import reliance — a negative value indicating net export status — moved from −14.1 % in 2015 to −45.1 % at its strongest point, then retreated to −23.2 % in 2025.

The narrowing of the surplus since 2022 is almost entirely driven by the acceleration of imports, which grew at a far faster pace (+324.4 % in value) than exports (+86.1 %). If the import trajectory from China continues, the EU's net exporter position could come under further pressure in coming years.

Net import reliance

Trade intensity and export propensity reach record highs

The EU's trade intensity for this product — the ratio of extra-EU trade (imports + exports) to domestic production — rose from 26.7 % in 2015 to 40.3 % in 2025. The export propensity (exports as a share of production) climbed from 20.6 % to 32.2 %. Both metrics reached their highest levels over the period, indicating that the EU's electric-forklift sector is becoming progressively more integrated into global trade flows. This increased openness brings opportunities — access to growing global demand, particularly in the US, UK, and emerging markets — but also greater exposure to competitive pressures from Chinese producers and potential supply-chain disruptions.

Trade intensity · Export propensity

Conclusion

Over the 2015–2025 period, the EU electric-forklift market has undergone a structural transformation. The EU remains a formidable producer and net exporter, with output more than doubling and export values rising 86 %. However, the most consequential shift has been the surge in imports — particularly from China — which grew sixfold in unit terms and now account for over 70 % of import value. Chinese imports arrive at unit prices roughly half those of a decade ago, while EU exports command unit values nearly 85 % higher than in 2015, revealing a clear market segmentation between premium EU-manufactured equipment and cost-competitive Chinese alternatives. The collapse of the Russian export market, absorbed by growth in the UK, US, and other partners, demonstrates the EU industry's capacity for geographic diversification. Looking ahead, the key question is whether the narrowing of the EU's trade surplus — driven by the sheer pace of Chinese import growth — will continue, and how EU producers will position themselves in an increasingly bifurcated global market.