Bangladesh: Jacks And Hoists Market 2024

Jacks And Hoists Market Size in Bangladesh

The Bangladeshi jacks and hoists market declined slightly to $X in 2022, which is down by -4% 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 enjoyed a significant expansion. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Jacks And Hoists Exports

Exports from Bangladesh

In 2022, approx. X units of jacks and hoists for raising vehicles were exported from Bangladesh; picking up by 8.1% on the previous year. In general, exports enjoyed a significant increase. The pace of growth was the most pronounced in 2018 when exports increased by 1,650% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, jacks and hoists exports skyrocketed to $X in 2022. Over the period under review, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2018 when exports increased by 6,198%. Over the period under review, the exports attained the maximum at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

India (X units), France (X units) and Slovakia (X units) were the main destinations of jacks and hoists exports from Bangladesh, together comprising 70% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of +28.2%), while the other leaders experienced more modest paces of growth.

In value terms, India ($X) remains the key foreign market for jacks and hoists for raising vehicles exports from Bangladesh, comprising 70% of total exports. The second position in the ranking was taken by France ($X), with a 12% share of total exports. It was followed by Greece, with a 2.7% share.

From 2012 to 2022, the average annual growth rate of value to India totaled +51.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+12.8% per year) and Greece (0.0% per year).

Export Prices by Country

The average jacks and hoists export price stood at $X per unit in 2022, increasing by 17% against the previous year. In general, the export price saw a modest expansion. The pace of growth was the most pronounced in 2018 an increase of 260% against the previous year. The export price peaked at $X per unit in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per unit), while the average price for exports to Slovakia ($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 India (+18.4%), while the prices for the other major destinations experienced mixed trend patterns.

Jacks And Hoists Imports

Imports into Bangladesh

In 2022, imports of jacks and hoists for raising vehicles into Bangladesh surged to X units, rising by 16% compared with 2021 figures. Over the period under review, imports showed a prominent expansion. The growth pace was the most rapid in 2018 with an increase of 1,451% against the previous year. Over the period under review, imports hit record highs at X units in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, jacks and hoists imports contracted significantly to $X in 2022. In general, imports saw a significant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 978% against the previous year. Over the period under review, imports reached the peak figure at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest jacks and hoists supplier to Bangladesh, with a 49% share of total imports. Moreover, jacks and hoists imports from China exceeded the figures recorded by the second-largest supplier, Austria (X units), twofold. India (X units) ranked third in terms of total imports with a 19% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +36.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+113.9% per year) and India (+10.7% per year).

In value terms, the largest jacks and hoists suppliers to Bangladesh were Austria ($X), China ($X) and India ($X), with a combined 72% share of total imports.

Austria, with a CAGR of +143.3%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average jacks and hoists import price amounted to $X per unit, shrinking by -36.3% against the previous year. Over the period under review, the import price, however, continues to indicate a resilient increase. The most prominent rate of growth was recorded in 2021 when the average import price increased by 296%. As a result, import price attained the peak level of $X per unit, and then reduced markedly in the following year.

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 Austria ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+13.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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