Kuwait: Hydraulic Jack Market 2024

Hydraulic Jack Market Size in Kuwait

In 2022, the Kuwaiti hydraulic jack market decreased by -3.7% to $X, falling for the third year in a row after two years of growth. In general, consumption continues to indicate a abrupt decrease. Over the period under review, the market reached the maximum level at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Hydraulic Jack Exports

Exports from Kuwait

In 2022, the amount of hydraulic jacks and hoists for raising vehicles exported from Kuwait contracted to X units, with a decrease of -6.2% against the previous year. Overall, exports, however, continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2018 with an increase of 241%. Over the period under review, the exports attained the peak figure at X units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, hydraulic jack exports declined significantly to $X in 2022. Over the period under review, exports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of 369%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

The Netherlands (X units) was the main destination for hydraulic jack exports from Kuwait, with a 58% share of total exports. Moreover, hydraulic jack exports to the Netherlands exceeded the volume sent to the second major destination, India (X units), threefold. The third position in this ranking was held by Germany (X units), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume to the Netherlands amounted to +62.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+69.9% per year) and Germany (+13.3% per year).

In value terms, India ($X) remains the key foreign market for hydraulic jacks and hoists for raising vehicles exports from Kuwait, comprising 62% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 26% share of total exports. It was followed by Germany, with a 3.9% share.

From 2012 to 2022, the average annual growth rate of value to India totaled +94.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+42.4% per year) and Germany (+6.3% per year).

Export Prices by Country

In 2022, the average hydraulic jack export price amounted to $X per unit, shrinking by -19.8% against the previous year. In general, the export price, however, recorded resilient growth. The most prominent rate of growth was recorded in 2015 an increase of 43% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per unit), while the average price for exports to Egypt ($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 India (+14.2%), while the prices for the other major destinations experienced a decline.

Hydraulic Jack Imports

Imports into Kuwait

In 2022, purchases abroad of hydraulic jacks and hoists for raising vehicles decreased by -2.1% to X units, falling for the third consecutive year after two years of growth. In general, imports saw a pronounced slump. The pace of growth was the most pronounced in 2019 with an increase of 66% against the previous year. Over the period under review, imports hit record highs at X units in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, hydraulic jack imports shrank to $X in 2022. Over the period under review, imports saw a deep setback. The growth pace was the most rapid in 2015 with an increase of 64% against the previous year. Over the period under review, imports attained the peak figure at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of hydraulic jack to Kuwait, accounting for a 72% share of total imports. Moreover, hydraulic jack imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), more than tenfold. Japan (X units) ranked third in terms of total imports with a 5% share.

From 2012 to 2022, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-3.0% per year) and Japan (-0.3% per year).

In value terms, China ($X), Italy ($X) and the United Arab Emirates ($X) constituted the largest hydraulic jack suppliers to Kuwait, with a combined 47% share of total imports.

The United Arab Emirates, with a CAGR of +39.1%, saw 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 hydraulic jack import price stood at $X per unit in 2022, falling by -4.8% against the previous year. Over the period under review, the import price showed a perceptible reduction. The pace of growth was the most pronounced in 2016 when the average import price increased by 34% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2017; however, from 2018 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 the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+14.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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