Luxembourg: Market for Hydraulic Cylinders And Systems 2024

Market Size for Hydraulic Cylinders And Systems in Luxembourg

In 2022, after four years of growth, there was significant decline in the Luxembourg hydraulic cylinder and system market, when its value decreased by -30.8% to $X. Overall, consumption, however, enjoyed a buoyant increase. Over the period under review, the market reached the maximum level at $X in 2021, and then declined sharply in the following year.

Exports of Hydraulic Cylinders And Systems

Exports from Luxembourg

In 2022, shipments abroad of hydraulic cylinders and systems decreased by -6% to X units for the first time since 2015, thus ending a six-year rising trend. In general, exports, however, enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 84% against the previous year. The exports peaked at X units in 2021, and then fell in the following year.

In value terms, hydraulic cylinder and system exports dropped slightly to $X in 2022. Overall, exports, however, saw a prominent increase. The most prominent rate of growth was recorded in 2018 with an increase of 78%. Over the period under review, the exports attained the peak figure at $X in 2021, and then fell slightly in the following year.

Exports by Country

Belgium (X units), Poland (X units) and France (X units) were the main destinations of hydraulic cylinder and system exports from Luxembourg, together comprising 81% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of +57.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for hydraulic cylinder and system exported from Luxembourg were Belgium ($X), Poland ($X) and France ($X), together accounting for 51% of total exports.

Among the main countries of destination, Poland, with a CAGR of +45.2%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average hydraulic cylinder and system export price amounted to $X per unit, rising by 2.6% against the previous year. In general, the export price, however, showed a noticeable downturn. The pace of growth appeared the most rapid in 2015 when the average export price increased by 18% against the previous year. The export price peaked at $X per unit in 2016; however, from 2017 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 China ($X per unit), while the average price for exports to Belgium ($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 China (+4.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hydraulic Cylinders And Systems

Imports into Luxembourg

After four years of growth, supplies from abroad of hydraulic cylinders and systems decreased by -25.2% to X units in 2022. Over the period under review, imports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of 234% against the previous year. Over the period under review, imports reached the maximum at X units in 2021, and then reduced markedly in the following year.

In value terms, hydraulic cylinder and system imports reduced to $X in 2022. In general, imports, however, posted a strong increase. The pace of growth appeared the most rapid in 2018 when imports increased by 129% against the previous year. Imports peaked at $X in 2021, and then dropped in the following year.

Imports by Country

In 2022, Austria (X units) constituted the largest hydraulic cylinder and system supplier to Luxembourg, accounting for a 73% share of total imports. Moreover, hydraulic cylinder and system imports from Austria exceeded the figures recorded by the second-largest supplier, Germany (X units), fivefold. The third position in this ranking was taken by Italy (X units), with a 7.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Austria stood at +42.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+12.7% per year) and Italy (+37.5% per year).

In value terms, Austria ($X) constituted the largest supplier of hydraulic cylinders and systems to Luxembourg, comprising 58% of total imports. The second position in the ranking was held by Germany ($X), with a 23% share of total imports. It was followed by Italy, with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Austria totaled +37.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+7.3% per year) and Italy (+31.5% per year).

Import Prices by Country

The average hydraulic cylinder and system import price stood at $X per unit in 2022, surging by 14% against the previous year. Over the period under review, the import price, however, saw a deep downturn. The growth pace was the most rapid in 2017 when the average import price increased by 15%. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per unit), while the price for Austria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+0.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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