Eastern Asia: Market for Hydraulic Cylinders And Systems 2024

Market Size for Hydraulic Cylinders And Systems in Eastern Asia

The East Asian hydraulic cylinder and system market reduced slightly to $X in 2022, which is down by -2.8% against the previous year. In general, consumption showed a slight shrinkage. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Production of Hydraulic Cylinders And Systems in Eastern Asia

In value terms, hydraulic cylinder and system production amounted to $X in 2022 estimated in export price. The total production indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.1% against 2020 indices. The pace of growth was the most pronounced in 2016 with an increase of 30% against the previous year. Over the period under review, production hit record highs at $X in 2020; afterwards, it flattened through to 2022.

Exports of Hydraulic Cylinders And Systems

Exports in Eastern Asia

In 2022, the amount of hydraulic cylinders and systems exported in Eastern Asia was estimated at X units, approximately mirroring the previous year's figure. In general, exports recorded resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of 54% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see steady growth in the immediate term.

In value terms, hydraulic cylinder and system exports expanded notably to $X in 2022. Total exports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.6% 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 +53.6% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by 44%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

China represented the major exporting country with an export of around X units, which amounted to 74% of total exports. South Korea (X units) held the second position in the ranking, followed by Japan (X units). All these countries together took approx. 25% share of total exports.

China was also the fastest-growing in terms of the hydraulic cylinders and systems exports, with a CAGR of +30.4% from 2012 to 2022. At the same time, South Korea (+7.0%) displayed positive paces of growth. By contrast, Japan (-2.4%) illustrated a downward trend over the same period. China (+54 p.p.) significantly strengthened its position in terms of the total exports, while South Korea and Japan saw its share reduced by -14.3% and -37.4% from 2012 to 2022, respectively.

In value terms, China ($X) remains the largest hydraulic cylinder and system supplier in Eastern Asia, comprising 64% of total exports. The second position in the ranking was taken by South Korea ($X), with a 15% share of total exports.

In China, hydraulic cylinder and system exports increased at an average annual rate of +13.3% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (+0.6% per year) and Japan (-4.1% per year).

Export Prices by Country

The export price in Eastern Asia stood at less than $X per unit in 2022, picking up by 5.3% against the previous year. Overall, the export price, however, continues to indicate a abrupt contraction. The level of export peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per unit), while China (less than $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 (-1.7%), while the other leaders experienced a decline in the export price figures.

Imports of Hydraulic Cylinders And Systems

Imports in Eastern Asia

Hydraulic cylinder and system imports fell slightly to X units in 2022, reducing by -2.9% against the year before. The total import volume increased at an average annual rate of +3.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 33% against the previous year. As a result, imports reached the peak of X units, and then reduced modestly in the following year.

In value terms, hydraulic cylinder and system imports dropped modestly to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 17% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Japan (X units) and China (X units) were the main importers of hydraulic cylinders and systems in Eastern Asia, together finishing at near 82% of total imports. It was distantly followed by South Korea (X units), constituting a 13% share of total imports. Hong Kong SAR (X units) and Taiwan (Chinese) (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Hong Kong SAR (with a CAGR of +22.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and South Korea ($X) were the countries with the highest levels of imports in 2022, with a combined 93% share of total imports. Hong Kong SAR and Taiwan (Chinese) lagged somewhat behind, together comprising a further 6.8%.

Hong Kong SAR, with a CAGR of +19.4%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2022, declining by -2% against the previous year. In general, the import price continues to indicate a perceptible decline. The most prominent rate of growth was recorded in 2016 when the import price increased by 6.2%. Over the period under review, import prices hit record highs at $X per unit in 2012; however, from 2013 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 China ($X per unit), while Japan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (-0.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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