Bangladesh: Hydraulic Jack Market 2024

Hydraulic Jack Market Size in Bangladesh

The Bangladeshi hydraulic jack market declined remarkably to $X in 2022, waning by -20% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption showed a pronounced decrease. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Hydraulic Jack Exports

Exports from Bangladesh

In 2022, hydraulic jack exports from Bangladesh skyrocketed to X units, rising by 18% against 2021 figures. In general, exports posted a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 3,025% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, hydraulic jack exports surged to $X in 2022. Overall, exports continue to indicate significant growth. The pace of growth was the most pronounced in 2020 with an increase of 12,902% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

India (X units) was the main destination for hydraulic jack exports from Bangladesh, with a 56% share of total exports. Moreover, hydraulic jack exports to India exceeded the volume sent to the second major destination, China (X units), threefold. The third position in this ranking was held by Switzerland (X units), with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to India amounted to +52.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+39.5% per year) and Switzerland (0.0% per year).

In value terms, India ($X) emerged as the key foreign market for hydraulic jacks and hoists for raising vehicles exports from Bangladesh, comprising 30% of total exports. The second position in the ranking was held by Singapore ($X), with a 14% share of total exports. It was followed by China, with a 13% share.

From 2012 to 2022, the average annual growth rate of value to India amounted to +56.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+67.6% per year) and China (+51.3% per year).

Export Prices by Country

In 2022, the average hydraulic jack export price amounted to $X per unit, approximately mirroring the previous year. Over the period under review, the export price saw a perceptible expansion. The most prominent rate of growth was recorded in 2020 an increase of 316%. Over the period under review, the average export prices hit record highs at $X per unit in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per unit), while the average price for exports to Switzerland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+1,408.9%), while the prices for the other major destinations experienced more modest paces of growth.

Hydraulic Jack Imports

Imports into Bangladesh

Hydraulic jack imports into Bangladesh declined dramatically to X units in 2022, which is down by -19.1% on the previous year. In general, imports recorded a pronounced decrease. The most prominent rate of growth was recorded in 2018 when imports increased by 613% against the previous year. As a result, imports attained the peak of X units. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, hydraulic jack imports declined remarkably to $X in 2022. Over the period under review, imports saw a noticeable contraction. The pace of growth was the most pronounced in 2018 when imports increased by 279%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X units) was the main hydraulic jack supplier to Bangladesh, accounting for a 92% share of total imports. Moreover, hydraulic jack imports from China exceeded the figures recorded by the second-largest supplier, India (X units), more than tenfold. Japan (X units) ranked third in terms of total imports with a 2.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: India (-11.9% per year) and Japan (+15.0% per year).

In value terms, China ($X) constituted the largest supplier of hydraulic jacks and hoists for raising vehicles to Bangladesh, comprising 62% of total imports. The second position in the ranking was taken by Japan ($X), with a 17% share of total imports. It was followed by Thailand, with a 5.3% share.

From 2012 to 2022, the average annual growth rate of value from China stood at -1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+24.6% per year) and Thailand (-13.1% per year).

Import Prices by Country

The average hydraulic jack import price stood at $X per unit in 2022, which is down by -4.4% against the previous year. Overall, the import price continues to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2015 when the average import price increased by 113%. Over the period under review, average import prices reached the peak figure at $X per unit in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+8.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :