Cyprus: Artificial Lift Market 2020

Artificial Lift Market Size in Cyprus

The revenue of the artificial lift market in Cyprus amounted to $X in 2018, growing by X% 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, artificial lift consumption, however, continues to indicate a noticeable curtailment. The pace of growth appeared the most rapid in 2018 with an increase of X% y-o-y. Cyprus artificial lift consumption peaked at $X in 2008; however, from 2009 to 2018, consumption remained at a lower figure.

Artificial Lift Exports

Exports from Cyprus

Artificial lift exports from Cyprus amounted to X units in 2018, lowering by -X% against the previous year. Overall, artificial lift exports continue to indicate a measured downturn. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. Cyprus exports peaked at X units in 2016; however, from 2017 to 2018, exports failed to regain their momentum.

In value terms, artificial lift exports stood at $X in 2018. In general, artificial lift exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when exports increased by X% year-to-year. Cyprus exports peaked at $X in 2016; however, from 2017 to 2018, exports stood at a somewhat lower figure.

Exports by Country

In 2018, China (X units), distantly followed by Italy (X units), Germany (X units), Spain (X units), Thailand (X units), the Netherlands (X units) and the U.S. (X units) were the largest exporters of lifts and skip hoists, together achieving X% of total exports. The following exporters - Slovakia (X units), Belarus (X units), France (X units), Canada (X units) and Japan (X units) - together made up X% of total exports.

From 2007 to 2018, average annual rates of growth with regard to artificial lift exports from China stood at +X%. At the same time, Slovakia (+X%), Canada (+X%), Thailand (+X%), Belarus (+X%), the Netherlands (+X%), Spain (+X%), the U.S. (+X%), Germany (+X%) and Italy (+X%) displayed positive paces of growth. Moreover, Slovakia emerged as the fastest-growing exporter in the world, with a CAGR of +X% from 2007-2018. Japan experienced a relatively flat trend pattern. By contrast, France (-X%) illustrated a downward trend over the same period. From 2007 to 2018, the share of China, Thailand, Slovakia, Spain, the Netherlands, Canada, the U.S., Belarus and Germany increased by +X%, +X%, +X%, +X%, +X%, +X%, +X%, +X% and +X% percentage points, while France (-X p.p.) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest artificial lift supplier from Cyprus, comprising X% of global exports. The second position in the ranking was occupied by Spain ($X), with a X% share of global exports. It was followed by Germany, with a X% share.

In China, artificial lift exports increased at an average annual rate of +X% over the period from 2007-2018. The remaining exporting countries recorded the following average annual rates of exports growth: Spain (+X% per year) and Germany (+X% per year).

Export Prices by Country

In 2018, the artificial lift export price in Cyprus amounted to $X per unit, coming down by -X% against the previous year. Overall, the export price indicated a moderate expansion from 2007 to 2018: its price increased at an average annual rate of +X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, artificial lift export price increased by +X% against 2014 indices. The pace of growth appeared the most rapid in 2012 when the export price increased by X% y-o-y. In that year, the export prices for lifts and skip hoists reached their peak level of $X per unit. From 2013 to 2018, the growth in terms of the export prices for lifts and skip hoists remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was Spain ($X per unit), while Belarus ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China, while the other leaders experienced more modest paces of growth.

Artificial Lift Imports

Imports into Cyprus

In 2018, the amount of lifts and skip hoists imported into Cyprus amounted to X units, jumping by X% against the previous year. Overall, artificial lift imports, however, continue to indicate a mild reduction. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, artificial lift imports attained their peak figure at X units in 2008; however, from 2009 to 2018, imports failed to regain their momentum.

In value terms, artificial lift imports amounted to $X in 2018. Over the period under review, artificial lift imports, however, continue to indicate a deep deduction. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, artificial lift imports attained their maximum at $X in 2008; however, from 2009 to 2018, imports remained at a lower figure.

Imports by Country

Free Zones was the largest importing country with an import of about X units, which finished at X% of total imports. Russia (X units) ranks second in terms of the total imports with a X% share, followed by the U.S. (X%). Canada (X units), the UK (X units), Germany (X units), Saudi Arabia (X units), the Philippines (X units), Nauru (X units), Switzerland (X units), India (X units) and Australia (X units) followed a long way behind the leaders.

From 2007 to 2018, average annual rates of growth with regard to artificial lift imports into Free Zones stood at +X%. At the same time, Nauru (+X%), the U.S. (+X%), Saudi Arabia (+X%), the Philippines (+X%), India (+X%), Germany (+X%), Russia (+X%), Australia (+X%), Canada (+X%) and Switzerland (+X%) displayed positive paces of growth. Moreover, Nauru emerged as the fastest-growing importer in the world, with a CAGR of +X% from 2007-2018. The UK experienced a relatively flat trend pattern. While the share of Free Zones (+X p.p.), the U.S. (+X p.p.), Russia (+X p.p.), Nauru (+X p.p.), Saudi Arabia (+X p.p.), Germany (+X p.p.) and the Philippines (+X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X), Russia ($X) and the UK ($X) were the countries with the highest levels of imports in 2018, with a combined X% share of total imports. These countries were followed by Canada, the U.S., Australia, Switzerland, Saudi Arabia, India, the Philippines, Cyprus, Free Zones and Nauru, which together accounted for a further X Philippines recorded the highest growth rate of imports, in terms of the main importing countries over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Import Prices by Country

The artificial lift import price in Cyprus stood at $X per unit in 2018, declining by -X% against the previous year. Overall, the artificial lift import price continues to indicate an abrupt decline. The pace of growth appeared the most rapid in 2013 when the import price increased by X% year-to-year. Cyprus import price peaked at $X per unit in 2014; however, from 2015 to 2018, import prices remained at a lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Germany ($X per unit), while Nauru ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Canada, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform