MENA: Market for Hydraulic Cylinders And Systems 2024

Market Size for Hydraulic Cylinders And Systems in MENA

The MENA's hydraulic cylinder and system market rose slightly to $X in 2022, increasing by 2.5% against the previous year. Over the period under review, consumption enjoyed a strong increase. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Production of Hydraulic Cylinders And Systems in MENA

In value terms, hydraulic cylinder and system production reduced to $X in 2022 estimated in export price. Over the period under review, production continues to indicate buoyant growth. The pace of growth was the most pronounced in 2018 with an increase of 76% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Hydraulic Cylinders And Systems

Exports in MENA

In 2022, overseas shipments of hydraulic cylinders and systems increased by 18% to X units, rising for the sixth consecutive year after two years of decline. Overall, exports enjoyed a prominent increase. The most prominent rate of growth was recorded in 2021 with an increase of 49% against the previous year. The volume of export peaked in 2022 and is likely to see gradual growth in the near future.

In value terms, hydraulic cylinder and system exports soared to $X in 2022. In general, exports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2021 with an increase of 56% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in years to come.

Exports by Country

Turkey dominates exports structure, amounting to X units, which was approx. 92% of total exports in 2022. It was distantly followed by the United Arab Emirates (X units), achieving a 6.3% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to hydraulic cylinder and system exports from Turkey stood at +8.5%. At the same time, the United Arab Emirates (+17.6%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in MENA, with a CAGR of +17.6% from 2012-2022. From 2012 to 2022, the share of Turkey and the United Arab Emirates increased by +10 and +3.8 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest hydraulic cylinder and system supplier in MENA, comprising 88% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with an 8.4% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey amounted to +10.4%.

Export Prices by Country

In 2022, the export price in MENA amounted to $X per thousand units, surging by 4% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the export price increased by 17%. As a result, the export price attained the peak level of $X per thousand units. From 2019 to 2022, the export prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per thousand units), while Turkey stood at $X per thousand units.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+1.7%).

Imports of Hydraulic Cylinders And Systems

Imports in MENA

For the fourth year in a row, MENA recorded growth in supplies from abroad of hydraulic cylinders and systems, which increased by 1.3% to X units in 2022. Overall, imports saw prominent growth. The most prominent rate of growth was recorded in 2021 with an increase of 47%. The volume of import peaked in 2022 and is likely to see steady growth in the immediate term.

In value terms, hydraulic cylinder and system imports soared to $X in 2022. Total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +9.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +16.0% against 2019 indices. The growth pace was the most rapid in 2013 with an increase of 25%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Turkey (X units) represented the largest importer of hydraulic cylinders and systems, mixing up 41% of total imports. The United Arab Emirates (X units) ranks second in terms of the total imports with a 24% share, followed by Iran (12%), Israel (7.4%) and Iraq (4.6%). The following importers - Algeria (X units) and Egypt (X units) - together made up 4.9% of total imports.

From 2012 to 2022, the biggest increases were recorded for Algeria (with a CAGR of +24.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) constitutes the largest market for imported hydraulic cylinders and systems in MENA, comprising 40% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 19% share of total imports. It was followed by Israel, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey stood at +20.7%. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+4.5% per year) and Israel (+16.5% per year).

Import Prices by Country

The import price in MENA stood at $X per unit in 2022, jumping by 16% against the previous year. Overall, the import price, however, continues to indicate a noticeable contraction. The pace of growth was the most pronounced in 2019 when the import price increased by 17%. As a result, import price reached the peak level of $X per unit. From 2020 to 2022, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Israel ($X per unit), while Iran (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 Israel (+1.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform