Asia: Jacks And Hoists Market 2024

Jacks And Hoists Market Size in Asia

The Asian jacks and hoists market contracted to $X in 2022, stabilizing at the previous year. In general, consumption saw a noticeable descent. The most prominent rate of growth was recorded in 2019 with an increase of 7.3% against the previous year. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Jacks And Hoists Production in Asia

In value terms, jacks and hoists production shrank slightly to $X in 2022 estimated in export price. Overall, production saw a pronounced descent. The pace of growth was the most pronounced in 2019 with an increase of 6.2%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Jacks And Hoists Exports

Exports in Asia

In 2022, jacks and hoists exports in Asia fell to X units, with a decrease of -7.9% against the previous year. The total export volume increased at an average annual rate of +2.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 19% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, jacks and hoists exports reduced modestly to $X in 2022. Total exports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +38.6% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 39%. As a result, the exports attained the peak of $X, leveling off in the following year.

Exports by Country

China dominates exports structure, resulting at X units, which was approx. 86% of total exports in 2022. India (X units), Turkey (X units) and Japan (X units) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +2.5% from 2012 to 2022. At the same time, India (+25.3%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia, with a CAGR of +25.3% from 2012-2022. By contrast, Turkey (-1.5%) and Japan (-3.0%) illustrated a downward trend over the same period. While the share of India (+3.2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Japan (-1.7 p.p.) and Turkey (-1.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest jacks and hoists supplier in Asia, comprising 82% of total exports. The second position in the ranking was taken by Turkey ($X), with a 4.2% share of total exports. It was followed by India, with a 4% share.

From 2012 to 2022, the average annual growth rate of value in China stood at +6.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (+8.9% per year) and India (+15.4% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per unit, rising by 8.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.1%. The growth pace was the most rapid in 2021 when the export price increased by 17%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Turkey ($X per unit) and India ($X per unit), while China ($X per unit) and Japan ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+10.5%), while the other leaders experienced mixed trends in the export price figures.

Jacks And Hoists Imports

Imports in Asia

In 2022, imports of jacks and hoists for raising vehicles in Asia shrank significantly to X units, with a decrease of -20.6% against 2021. Overall, imports showed a slight decline. The pace of growth was the most pronounced in 2018 with an increase of 34% against the previous year. As a result, imports reached the peak of X units. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, jacks and hoists imports declined to $X in 2022. In general, imports saw a noticeable setback. The most prominent rate of growth was recorded in 2021 with an increase of 14%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Japan was the major importing country with an import of about X units, which finished at 36% of total imports. India (X units) ranks second in terms of the total imports with a 12% share, followed by Turkey (8%), South Korea (7.3%) and Thailand (5.1%). Taiwan (Chinese) (X units), Malaysia (X units), the United Arab Emirates (X units), Vietnam (X units), Indonesia (X units), Bangladesh (X units), the Philippines (X units) and Israel (X units) held a little share of total imports.

Imports into Japan decreased at an average annual rate of -4.0% from 2012 to 2022. At the same time, Vietnam (+34.3%), the Philippines (+19.3%), Bangladesh (+18.2%), Israel (+12.4%), the United Arab Emirates (+12.1%), Taiwan (Chinese) (+8.6%), South Korea (+6.6%), India (+5.7%), Malaysia (+4.4%) and Turkey (+3.8%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in Asia, with a CAGR of +34.3% from 2012-2022. Indonesia experienced a relatively flat trend pattern. By contrast, Thailand (-13.9%) illustrated a downward trend over the same period. India (+6.1 p.p.), South Korea (+4 p.p.), Turkey (+3.2 p.p.), Vietnam (+2.9 p.p.), Taiwan (Chinese) (+2.7 p.p.), the United Arab Emirates (+2.2 p.p.) and Bangladesh (+1.5 p.p.) significantly strengthened its position in terms of the total imports, while Japan and Thailand saw its share reduced by -11% and -14.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X), Japan ($X) and South Korea ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 32% of total imports. Taiwan (Chinese), Indonesia, Thailand, the United Arab Emirates, Turkey, Vietnam, Malaysia, Israel, Bangladesh and the Philippines lagged somewhat behind, together accounting for a further 39%.

Among the main importing countries, Bangladesh, with a CAGR of +25.3%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia amounted to $X per unit, rising by 12% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the import price increased by 19%. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+6.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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