Malaysia: Market for Hydraulic Cylinders And Systems 2024

Market Size for Hydraulic Cylinders And Systems in Malaysia

The Malaysian hydraulic cylinder and system market skyrocketed to $X in 2022, increasing by 20% against the previous year. Overall, the total consumption indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -1.3% against 2020 indices. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Hydraulic Cylinders And Systems in Malaysia

In value terms, hydraulic cylinder and system production expanded rapidly to $X in 2022 estimated in export price. In general, the total production indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +3.4% 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 -9.5% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 61% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Exports of Hydraulic Cylinders And Systems

Exports from Malaysia

In 2022, overseas shipments of hydraulic cylinders and systems increased by 18% to X units for the first time since 2017, thus ending a four-year declining trend. Over the period under review, exports continue to indicate a significant increase. The growth pace was the most rapid in 2017 with an increase of 328% against the previous year. As a result, the exports attained the peak of X units. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, hydraulic cylinder and system exports stood at $X in 2022. Overall, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2017 when exports increased by 442%. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Indonesia (X units), India (X units) and the United States (X units) were the main destinations of hydraulic cylinder and system exports from Malaysia, with a combined 45% share of total exports. Germany, Kenya, Singapore, Russia, Norway, Australia, the UK, Thailand and China lagged somewhat behind, together accounting for a further 39%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Kenya (with a CAGR of +98.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for hydraulic cylinder and system exported from Malaysia were India ($X), Indonesia ($X) and the United States ($X), with a combined 45% share of total exports. Germany, Kenya, Norway, Singapore, the UK, Australia, China, Thailand and Russia lagged somewhat behind, together accounting for a further 38%.

Kenya, with a CAGR of +123.6%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average hydraulic cylinder and system export price stood at $X per unit in 2022, reducing by -7.5% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 31% against the previous year. The export price peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Norway ($X per unit), while the average price for exports to Russia (less than $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 Kenya (+12.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hydraulic Cylinders And Systems

Imports into Malaysia

In 2022, overseas purchases of hydraulic cylinders and systems were finally on the rise to reach X units after two years of decline. Overall, imports saw significant growth. The pace of growth was the most pronounced in 2019 when imports increased by 107%. As a result, imports attained the peak of X units. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, hydraulic cylinder and system imports rose to $X in 2022. In general, imports enjoyed resilient growth. The pace of growth was the most pronounced in 2019 with an increase of 213%. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of hydraulic cylinder and system to Malaysia, with a 59% share of total imports. Moreover, hydraulic cylinder and system imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X units), fivefold. Germany (X units) ranked third in terms of total imports with a 3.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +33.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+34.5% per year) and Germany (+0.5% per year).

In value terms, China ($X) constituted the largest supplier of hydraulic cylinders and systems to Malaysia, comprising 33% of total imports. The second position in the ranking was held by Italy ($X), with an 11% share of total imports. It was followed by the Netherlands, with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +24.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+49.4% per year) and the Netherlands (+68.2% per year).

Import Prices by Country

In 2022, the average hydraulic cylinder and system import price amounted to $X per unit, with a decrease of -26.5% against the previous year. Overall, the import price saw a mild decrease. The most prominent rate of growth was recorded in 2019 an increase of 51%. The import price peaked at $X per unit in 2021, and then fell remarkably in the following year.

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 the Netherlands ($X per unit), while the price for Singapore (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 (+13.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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