Asia-Pacific: Market for Hydraulic Cylinders And Systems 2024

Market Size for Hydraulic Cylinders And Systems in Asia-Pacific

The Asia-Pacific hydraulic cylinder and system market expanded notably to $X in 2022, growing by 9.9% against the previous year. The total consumption indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -13.3% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Hydraulic Cylinders And Systems in Asia-Pacific

In value terms, hydraulic cylinder and system production expanded to $X in 2022 estimated in export price. The total production indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.9% against 2020 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by 21%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Hydraulic Cylinders And Systems

Exports in Asia-Pacific

In 2022, approx. X units of hydraulic cylinders and systems were exported in Asia-Pacific; with an increase of 2.4% on 2021 figures. Over the period under review, exports saw a buoyant expansion. The pace of growth was the most pronounced in 2018 with an increase of 55% against the previous year. The volume of export peaked in 2022 and is likely to see steady growth in the near future.

In value terms, hydraulic cylinder and system exports expanded rapidly to $X in 2022. Overall, exports recorded a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of 41%. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in years to come.

Exports by Country

China was the main exporting country with an export of around X units, which amounted to 70% of total exports. South Korea (X units) ranks second in terms of the total exports with a 14% share, followed by Japan (9.1%). Singapore (X units) held a minor share of total exports.

China was also the fastest-growing in terms of the hydraulic cylinders and systems exports, with a CAGR of +30.4% from 2012 to 2022. At the same time, Singapore (+21.3%) and South Korea (+7.0%) displayed positive paces of growth. By contrast, Japan (-2.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by +51 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest hydraulic cylinder and system supplier in Asia-Pacific, comprising 56% of total exports. The second position in the ranking was taken by South Korea ($X), with a 13% share of total exports. It was followed by Japan, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to +13.3%. In the other countries, the average annual rates were as follows: South Korea (+0.6% per year) and Japan (-4.1% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per unit, with an increase of 7.1% against the previous year. Overall, the export price, however, recorded a abrupt setback. Over the period under review, the export prices attained the maximum at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per unit), while China (less than $X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+0.3%), while the other leaders experienced a decline in the export price figures.

Imports of Hydraulic Cylinders And Systems

Imports in Asia-Pacific

In 2022, overseas purchases of hydraulic cylinders and systems increased by 8.7% to X units, rising for the second year in a row after two years of decline. Total imports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +42.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 31% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in years to come.

In value terms, hydraulic cylinder and system imports expanded sharply to $X in 2022. The total import value increased at an average annual rate of +3.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 19% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Japan (X units) and China (X units) represented the key importers of hydraulic cylinders and systems in Asia-Pacific, together recording near 50% of total imports. Australia (X units) held a 9.9% share (based on physical terms) of total imports, which put it in second place, followed by Indonesia (9.3%), South Korea (8.2%), India (4.7%) and Thailand (4.6%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by India (with a CAGR of +24.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and Australia ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 55% of total imports. South Korea, Indonesia, Thailand and India lagged somewhat behind, together comprising a further 24%.

India, with a CAGR of +18.5%, 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

In 2022, the import price in Asia-Pacific amounted to $X per unit, almost unchanged from the previous year. Over the period under review, the import price, however, showed a noticeable contraction. The most prominent rate of growth was recorded in 2019 an increase of 7.5%. Over the period under review, import prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per unit), while Japan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+2.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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