Ireland: Market for Hydraulic Cylinders And Systems 2024

Market Size for Hydraulic Cylinders And Systems in Ireland

In 2022, the Irish hydraulic cylinder and system market increased by 45% to $X, rising for the third year in a row after five years of decline. In general, the total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +88.0% against 2019 indices. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the near future.

Production of Hydraulic Cylinders And Systems in Ireland

In value terms, hydraulic cylinder and system production declined to $X in 2022 estimated in export price. Over the period under review, the total production indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +13.3% against 2020 indices. The growth pace was the most rapid in 2018 when the production volume increased by 42% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Exports of Hydraulic Cylinders And Systems

Exports from Ireland

In 2022, the amount of hydraulic cylinders and systems exported from Ireland shrank to X units, reducing by -14.4% against 2021. Over the period under review, total exports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of +4.7% 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 +20.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 41% against the previous year. As a result, the exports reached the peak of X units, and then shrank in the following year.

In value terms, hydraulic cylinder and system exports expanded significantly to $X in 2022. Overall, total exports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +8.4% 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 +68.7% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 51% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

Germany (X units) was the main destination for hydraulic cylinder and system exports from Ireland, accounting for a 38% share of total exports. Moreover, hydraulic cylinder and system exports to Germany exceeded the volume sent to the second major destination, France (X units), threefold. The Netherlands (X units) ranked third in terms of total exports with a 9.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany stood at +2.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+3.2% per year) and the Netherlands (+10.4% per year).

It was followed by the United States, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany stood at +4.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+9.5% per year) and the United States (+16.4% per year).

Export Prices by Country

The average hydraulic cylinder and system export price stood at $X per thousand units in 2022, rising by 31% against the previous year. Over the last decade, it increased at an average annual rate of +3.6%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per thousand units), while the average price for exports to Belgium ($X per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+6.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hydraulic Cylinders And Systems

Imports into Ireland

In 2022, the amount of hydraulic cylinders and systems imported into Ireland declined dramatically to X units, with a decrease of -27.1% against the previous year's figure. In general, imports, however, continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2021 with an increase of 119%. As a result, imports reached the peak of X units, and then shrank remarkably in the following year.

In value terms, hydraulic cylinder and system imports surged to $X in 2022. Overall, imports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of 224%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, the UK (X units) constituted the largest hydraulic cylinder and system supplier to Ireland, with a 35% share of total imports. Moreover, hydraulic cylinder and system imports from the UK exceeded the figures recorded by the second-largest supplier, Italy (X units), twofold. China (X units) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from the UK amounted to +8.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+34.3% per year) and China (+24.0% per year).

In value terms, the UK ($X), the United States ($X) and Germany ($X) were the largest hydraulic cylinder and system suppliers to Ireland, with a combined 76% share of total imports. China, Italy, Spain, Turkey and the Netherlands lagged somewhat behind, together accounting for a further 15%.

Among the main suppliers, Spain, with a CAGR of +73.6%, recorded the highest rates of growth with regard to the value of imports, 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 hydraulic cylinder and system import price amounted to $X per unit, growing by 95% against the previous year. Over the period under review, the import price continues to indicate a buoyant expansion. The pace of growth was the most pronounced in 2014 when the average import price increased by 132% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per unit), while the price for Italy (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 the Netherlands (+43.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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