Belgium: Jacks And Hoists Market 2024

Jacks And Hoists Market Size in Belgium

In 2022, the Belgian jacks and hoists market decreased by -12.8% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption showed a mild descent. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Jacks And Hoists Production in Belgium

In value terms, jacks and hoists production expanded significantly to $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the production volume increased by 46%. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Jacks And Hoists Exports

Exports from Belgium

After three years of growth, overseas shipments of jacks and hoists for raising vehicles decreased by -19.3% to X units in 2022. In general, exports, however, saw a strong expansion. The growth pace was the most rapid in 2021 with an increase of 148% against the previous year. As a result, the exports attained the peak of X units, and then dropped significantly in the following year.

In value terms, jacks and hoists exports reduced rapidly to $X in 2022. Overall, exports recorded a noticeable shrinkage. The growth pace was the most rapid in 2020 with an increase of 51%. Over the period under review, the exports reached the maximum at $X in 2021, and then declined notably in the following year.

Exports by Country

The UK (X units) was the main destination for jacks and hoists exports from Belgium, accounting for a 47% share of total exports. Moreover, jacks and hoists exports to the UK exceeded the volume sent to the second major destination, Germany (X units), threefold. The third position in this ranking was taken by Italy (X units), with an 8.3% share.

From 2012 to 2022, the average annual growth rate of volume to the UK totaled +6.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+30.8% per year) and Italy (+34.4% per year).

In value terms, Germany ($X), the UK ($X) and the Netherlands ($X) constituted the largest markets for jacks and hoists exported from Belgium worldwide, with a combined 56% share of total exports.

Germany, with a CAGR of +24.9%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average jacks and hoists export price amounted to $X per unit, shrinking by -60.6% against the previous year. Over the period under review, the export price continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2015 when the average export price increased by 47%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to the UK ($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 the Netherlands (+4.4%), while the prices for the other major destinations experienced mixed trend patterns.

Jacks And Hoists Imports

Imports into Belgium

In 2022, overseas purchases of jacks and hoists for raising vehicles decreased by -28.5% to X units for the first time since 2019, thus ending a two-year rising trend. Overall, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 when imports increased by 85% against the previous year. Imports peaked at X units in 2021, and then reduced dramatically in the following year.

In value terms, jacks and hoists imports shrank rapidly to $X in 2022. Over the period under review, total imports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +2.3% 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 +62.0% against 2019 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 61% against the previous year. Imports peaked at $X in 2021, and then fell dramatically in the following year.

Imports by Country

The Netherlands (X units), Turkey (X units) and France (X units) were the main suppliers of jacks and hoists imports to Belgium, with a combined 71% share of total imports. China, Germany, Spain and Switzerland lagged somewhat behind, together comprising a further 25%.

From 2012 to 2022, the biggest increases were recorded for Switzerland (with a CAGR of +57.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), China ($X) and Germany ($X) constituted the largest jacks and hoists suppliers to Belgium, with a combined 65% share of total imports. France, Switzerland, Turkey and Spain lagged somewhat behind, together accounting for a further 20%.

Switzerland, with a CAGR of +33.7%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average jacks and hoists import price stood at $X per unit in 2022, surging by 17% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.8%. The growth pace was the most rapid in 2019 when the average import price increased by 18% against the previous year. As a result, import price attained the peak level of $X per unit. From 2020 to 2022, the average import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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