Asia: Hydraulic Jack Market 2024

Hydraulic Jack Market Size in Asia

The Asian hydraulic jack market stood at $X in 2023, approximately equating the previous year. In general, consumption saw a buoyant expansion. Over the period under review, the market hit record highs at $X in 2021; however, from 2022 to 2023, consumption remained at a lower figure.

Hydraulic Jack Production in Asia

In value terms, hydraulic jack production expanded to $X in 2023 estimated in export price. Overall, production saw a remarkable increase. The pace of growth was the most pronounced in 2021 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2022 to 2023, production growth failed to regain momentum.

Hydraulic Jack Exports

Exports in Asia

In 2023, approx. X units of hydraulic jacks and hoists for raising vehicles were exported in Asia; surging by X% on 2022. The total export volume increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports reached the peak of X units. From 2022 to 2023, the growth of the exports failed to regain momentum.

In value terms, hydraulic jack exports fell to $X in 2023. Total exports indicated noticeable growth from 2012 to 2023: its value 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. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of export peaked at $X in 2022, and then declined in the following year.

Exports by Country

China dominates exports structure, accounting for X units, which was approx. X% of total exports in 2023. India (X units) followed a long way behind the leaders.

Exports from China increased at an average annual rate of X% from 2012 to 2023. At the same time, India (X%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2023. India (X p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, China ($X) remains the largest hydraulic jack supplier in Asia, comprising X% of total exports. The second position in the ranking was held by India ($X), with a X% share of total exports.

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

Export Prices by Country

In 2023, the export price in Asia amounted to $X per unit, which is down by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 when the export price increased by X% against the previous year. The level of export peaked at $X per unit in 2022, and then shrank in the following year.

Average prices varied noticeably amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was China ($X per unit), while India totaled $X per unit.

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

Hydraulic Jack Imports

Imports in Asia

In 2023, purchases abroad of hydraulic jacks and hoists for raising vehicles decreased by X% to X units for the first time since 2020, thus ending a two-year rising trend. The total import volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 with an increase of X%. Over the period under review, imports attained the maximum at X units in 2022, and then dropped in the following year.

In value terms, hydraulic jack imports declined to $X in 2023. In general, imports continue to indicate a slight curtailment. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2023, the growth of imports failed to regain momentum.

Imports by Country

Indonesia (X units) and Japan (X units) were the main importers of hydraulic jacks and hoists for raising vehicles in 2023, reaching approx. X% and X% of total imports, respectively. South Korea (X units) took the next position in the ranking, followed by the Philippines (X units), the United Arab Emirates (X units), Thailand (X units), India (X units), Vietnam (X units) and Malaysia (X units). All these countries together took near X% share of total imports. Iran (X units), Iraq (X units), Bangladesh (X units) and Kazakhstan (X units) held a minor share of total imports.

From 2012 to 2023, the biggest increases were recorded for India (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest hydraulic jack importing markets in Asia were Indonesia ($X), Japan ($X) and Vietnam ($X), together accounting for X% of total imports. Malaysia, the United Arab Emirates, South Korea, Thailand, India, the Philippines, Iran, Iraq, Bangladesh and Kazakhstan lagged somewhat behind, together accounting for a further X%.

The Philippines, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per unit in 2023, approximately equating the previous year. Overall, the import price saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2014 when the import price increased by X%. As a result, import price attained the peak level of $X per unit. From 2015 to 2023, the import prices remained at a somewhat lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Japan (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform