India: Jacks And Hoists Market 2024

Jacks And Hoists Market Size in India

The Indian jacks and hoists market declined to $X in 2022, with a decrease of -6.3% against the previous year. Overall, consumption showed a slight contraction. The pace of growth appeared the most rapid in 2021 when the market value increased by 9%. Jacks and hoists consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Jacks And Hoists Production in India

In value terms, jacks and hoists production declined modestly to $X in 2022 estimated in export price. In general, production saw a mild shrinkage. The growth pace was the most rapid in 2013 with an increase of 14%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Jacks And Hoists Exports

Exports from India

For the fourth year in a row, India recorded growth in overseas shipments of jacks and hoists for raising vehicles, which increased by 35% to X units in 2022. In general, exports recorded significant growth. The most prominent rate of growth was recorded in 2015 when exports increased by 115%. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, jacks and hoists exports totaled $X in 2022. Over the period under review, exports recorded a prominent expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 78% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

The United States (X units) was the main destination for jacks and hoists exports from India, accounting for a 54% share of total exports. Moreover, jacks and hoists exports to the United States exceeded the volume sent to the second major destination, Brazil (X units), threefold. Malaysia (X units) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled +20.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (+128.5% per year) and Malaysia (+26.6% per year).

In value terms, the United States ($X) remains the key foreign market for jacks and hoists for raising vehicles exports from India, comprising 70% of total exports. The second position in the ranking was held by Malaysia ($X), with a 6.5% share of total exports. It was followed by Brazil, with a 2.1% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +17.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+11.1% per year) and Brazil (+77.1% per year).

Export Prices by Country

In 2022, the average jacks and hoists export price amounted to $X per unit, shrinking by -22.9% against the previous year. Overall, the export price showed a abrupt setback. The pace of growth appeared the most rapid in 2018 an increase of 31%. Over the period under review, the average export prices reached the maximum at $X per unit in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Brazil ($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 United States (-2.3%), while the prices for the other major destinations experienced a decline.

Jacks And Hoists Imports

Imports into India

In 2022, overseas purchases of jacks and hoists for raising vehicles increased by 10% to X units, rising for the second year in a row after two years of decline. Over the period under review, imports saw a strong expansion. The pace of growth was the most pronounced in 2014 when imports increased by 78% against the previous year. Imports peaked at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, jacks and hoists imports reduced to $X in 2022. In general, imports, however, showed a noticeable descent. The growth pace was the most rapid in 2021 with an increase of 71%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of jacks and hoists to India, accounting for a 75% share of total imports. Moreover, jacks and hoists imports from China exceeded the figures recorded by the second-largest supplier, Israel (X units), more than tenfold. Italy (X units) ranked third in terms of total imports with a 4.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +7.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Israel (+72.4% per year) and Italy (+13.1% per year).

In value terms, China ($X) constituted the largest supplier of jacks and hoists for raising vehicles to India, comprising 32% of total imports. The second position in the ranking was taken by Israel ($X), with a 14% share of total imports. It was followed by Italy, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Israel (+71.6% per year) and Italy (-3.6% per year).

Import Prices by Country

In 2022, the average jacks and hoists import price amounted to $X per unit, which is down by -20.1% against the previous year. Over the period under review, the import price showed a deep downturn. The growth pace was the most rapid in 2019 when the average import price increased by 37% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Israel ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+4.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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