Asia-Pacific: Hydraulic Jack Market 2022

Hydraulic Jack Market Size in Asia-Pacific

After seven years of growth, the Asia-Pacific hydraulic jack market decreased by -7.9% to $X in 2021. The total consumption indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2020, and then declined in the following year.

Hydraulic Jack Production in Asia-Pacific

In value terms, hydraulic jack production dropped slightly to $X in 2021 estimated in export price. The total production indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +80.8% against 2012 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 50% against the previous year. The level of production peaked at $X in 2020, and then declined slightly in the following year.

Hydraulic Jack Exports

Exports in Asia-Pacific

In 2021, the amount of hydraulic jacks and hoists for raising vehicles exported in Asia-Pacific skyrocketed to X units, rising by 18% on 2020. In general, exports recorded a measured expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 394%. As a result, the exports attained the peak of X units. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, hydraulic jack exports skyrocketed to $X in 2021. Total exports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +31.2% against 2018 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The biggest shipments were from China (X units), together recording 96% of total export.

China was also the fastest-growing in terms of the hydraulic jacks and hoists for raising vehicles exports, with a CAGR of +3.8% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest hydraulic jack supplier in Asia-Pacific.

From 2012 to 2021, the average annual rate of growth in terms of value in China totaled +7.8%.

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per unit, rising by 12% against the previous year. Overall, the export price continues to indicate a perceptible increase. The growth pace was the most rapid in 2016 when the export price increased by 167% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2017 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to +3.8% per year.

Hydraulic Jack Imports

Imports in Asia-Pacific

After two years of decline, purchases abroad of hydraulic jacks and hoists for raising vehicles increased by 38% to X units in 2021. The total import volume increased at an average annual rate of +2.3% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, hydraulic jack imports expanded notably to $X in 2021. The total import value increased at an average annual rate of +1.3% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2013 when imports increased by 15% against the previous year. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The purchases of the ten major importers of hydraulic jacks and hoists for raising vehicles, namely Japan, Indonesia, Australia, Thailand, Vietnam, South Korea, India, Malaysia, New Zealand and Bangladesh, represented more than two-thirds of total import.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by India (with a CAGR of +21.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X) constitutes the largest market for imported hydraulic jacks and hoists for raising vehicles in Asia-Pacific, comprising 23% of total imports. The second position in the ranking was held by Japan ($X), with an 11% share of total imports. It was followed by Vietnam, with a 9.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Australia stood at +8.1%. In the other countries, the average annual rates were as follows: Japan (+2.8% per year) and Vietnam (+10.7% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per unit in 2021, falling by -23% against the previous year. Overall, the import price recorded a mild shrinkage. The pace of growth appeared the most rapid in 2020 an increase of 25% against the previous year. The level of import peaked at $X per unit in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Australia ($X per unit), while Bangladesh ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+5.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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