Asia-Pacific: Jacks And Hoists Market 2024

Jacks And Hoists Market Size in Asia-Pacific

The Asia-Pacific jacks and hoists market totaled $X in 2022, flattening at the previous year. In general, consumption, however, recorded a noticeable contraction. The most prominent rate of growth was recorded in 2019 with an increase of 3.2% against the previous year. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Jacks And Hoists Production in Asia-Pacific

In value terms, jacks and hoists production dropped modestly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a noticeable curtailment. The pace of growth was the most pronounced in 2021 when the production volume increased by 4.4%. 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-Pacific

Jacks and hoists exports fell to X units in 2022, which is down by -8.5% against the year before. The total export volume increased at an average annual rate of +2.7% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2021 when exports increased by 19%. As a result, the exports attained the peak of X units, and then reduced in the following year.

In value terms, jacks and hoists exports shrank slightly to $X in 2022. Total exports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.7% 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 +37.1% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 38%. As a result, the exports attained the peak of $X, leveling off in the following year.

Exports by Country

China prevails in exports structure, finishing at X units, which was approx. 91% of total exports in 2022. India (X units) and Japan (X units) held a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to jacks and hoists exports from China stood at +2.5%. At the same time, India (+25.3%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +25.3% from 2012-2022. By contrast, Japan (-3.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India increased by +3.4 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest jacks and hoists supplier in Asia-Pacific, comprising 86% of total exports. The second position in the ranking was taken by India ($X), with a 4.3% share of total exports.

In China, jacks and hoists exports expanded at an average annual rate of +6.5% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: India (+15.4% per year) and Japan (-3.5% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2022, growing by 8.9% against the previous year. Over the last decade, it increased at an average annual rate of +3.0%. The most prominent rate of growth was recorded in 2021 an increase of 16%. The level of export peaked in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was India ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.9%), while the other leaders experienced a decline in the export price figures.

Jacks And Hoists Imports

Imports in Asia-Pacific

In 2022, approx. X units of jacks and hoists for raising vehicles were imported in Asia-Pacific; declining by -4% on the previous year's figure. In general, imports showed a slight shrinkage. The pace of growth was the most pronounced in 2014 when imports increased by 16% against the previous year. Over the period under review, imports reached the maximum at X units in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, jacks and hoists imports dropped modestly to $X in 2022. Overall, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 18% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Japan (X units) and Australia (X units) represented the major importers of jacks and hoists for raising vehicles in 2022, reaching near 33% and 24% of total imports, respectively. It was distantly followed by India (X units), South Korea (X units) and Thailand (X units), together creating a 22% share of total imports. Taiwan (Chinese) (X units), Malaysia (X units), Vietnam (X units), Indonesia (X units), Bangladesh (X units) and the Philippines (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +34.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest jacks and hoists importing markets in Asia-Pacific were Australia ($X), India ($X) and Japan ($X), together comprising 46% of total imports. South Korea, Taiwan (Chinese), Indonesia, Thailand, Vietnam, Malaysia, Bangladesh and the Philippines lagged somewhat behind, together accounting for a further 33%.

In terms of the main importing countries, Bangladesh, with a CAGR of +25.3%, saw 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-Pacific amounted to $X per unit, rising by 2% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. The pace of growth appeared the most rapid in 2019 an increase of 22% against the previous year. The level of import peaked at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat 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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