MENA: Hydraulic Jack Market 2022

Hydraulic Jack Market Size in MENA

The MENA's hydraulic jack market shrank to $X in 2021, declining by -5.9% against the previous year. In general, consumption showed a resilient expansion. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Hydraulic Jack Production in MENA

In value terms, hydraulic jack production rose rapidly to $X in 2021 estimated in export price. Over the period under review, production showed prominent growth. The pace of growth was the most pronounced in 2017 with an increase of 475%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Hydraulic Jack Exports

Exports in MENA

Hydraulic jack exports reduced to X units in 2021, which is down by -12.4% against the year before. In general, exports, however, posted modest growth. The pace of growth appeared the most rapid in 2015 when exports increased by 109%. The volume of export peaked at X units in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, hydraulic jack exports declined slightly to $X in 2021. Total exports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +53.1% against 2018 indices. The most prominent rate of growth was recorded in 2013 with an increase of 38%. Over the period under review, the exports attained the maximum at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X units) and Turkey (X units) prevails in exports structure, together mixing up 78% of total exports. It was distantly followed by Saudi Arabia (X units) and Tunisia (X units), together creating a 13% share of total exports. The following exporters - Kuwait (X units) and Israel (X units) - each accounted for a 4% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Kuwait (with a CAGR of +27.4%), while the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) emerged as the largest hydraulic jack supplier in MENA, comprising 51% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 22% share of total exports. It was followed by Kuwait, with a 6% share.

From 2012 to 2021, the average annual growth rate of value in Turkey totaled +14.8%. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (-1.3% per year) and Kuwait (+31.9% per year).

Export Prices by Country

The export price in MENA stood at $X per unit in 2021, picking up by 9.2% against the previous year. Over the period under review, the export price showed a notable increase. The most prominent rate of growth was recorded in 2020 an increase of 166% against the previous year. The level of export peaked at $X per unit in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Kuwait ($X per unit), while Saudi Arabia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+3.6%), while the other leaders experienced mixed trends in the export price figures.

Hydraulic Jack Imports

Imports in MENA

In 2021, purchases abroad of hydraulic jacks and hoists for raising vehicles decreased by -9.3% to X units, falling for the sixth consecutive year after four years of growth. In general, imports continue to indicate a mild descent. The most prominent rate of growth was recorded in 2015 when imports increased by 17%. As a result, imports reached the peak of X units. From 2016 to 2021, the growth of imports failed to regain momentum.

In value terms, hydraulic jack imports dropped notably to $X in 2021. Overall, imports showed a drastic downturn. The pace of growth appeared the most rapid in 2014 when imports increased by 4.6%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, the United Arab Emirates (X units), distantly followed by Turkey (X units), Algeria (X units), Libya (X units), Iraq (X units), Iran (X units), Israel (X units), Morocco (X units) and Egypt (X units) represented the main importers of hydraulic jacks and hoists for raising vehicles, together making up 86% of total imports.

From 2012 to 2021, average annual rates of growth with regard to hydraulic jack imports into the United Arab Emirates stood at -8.3%. At the same time, Algeria (+10.1%), Libya (+5.2%), Israel (+4.9%) and Iraq (+4.4%) displayed positive paces of growth. Moreover, Algeria emerged as the fastest-growing importer imported in MENA, with a CAGR of +10.1% from 2012-2021. Egypt and Turkey experienced a relatively flat trend pattern. By contrast, Iran (-1.0%) and Morocco (-1.1%) illustrated a downward trend over the same period. Algeria (+6.1 p.p.), Libya (+4 p.p.), Iraq (+3.5 p.p.) and Israel (+3.3 p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates saw its share reduced by -16.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest hydraulic jack importing markets in MENA were the United Arab Emirates ($X), Morocco ($X) and Israel ($X), together comprising 42% of total imports. These countries were followed by Egypt, Algeria, Turkey, Iraq, Libya and Iran, which together accounted for a further 42%.

Iraq, with a CAGR of +6.3%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in MENA amounted to $X per unit, declining by -13.2% against the previous year. Over the period under review, the import price continues to indicate a perceptible curtailment. The growth pace was the most rapid in 2018 an increase of 15% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Morocco ($X per unit), while Iran ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+3.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform