Mexico: Hydraulic Jack Market 2024

Hydraulic Jack Market Size in Mexico

For the third consecutive year, the Mexican hydraulic jack market recorded growth in sales value, which increased by 25% to $X in 2022. Overall, the total consumption indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +102.3% against 2019 indices. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in the immediate term.

Hydraulic Jack Exports

Exports from Mexico

After two years of growth, overseas shipments of hydraulic jacks and hoists for raising vehicles decreased by -35.5% to X units in 2022. In general, exports saw a abrupt shrinkage. The pace of growth was the most pronounced in 2020 when exports increased by 81% against the previous year. Over the period under review, the exports hit record highs at X units in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, hydraulic jack exports fell markedly to $X in 2022. Overall, exports showed a abrupt slump. The growth pace was the most rapid in 2020 with an increase of 78% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

El Salvador (X units) was the main destination for hydraulic jack exports from Mexico, accounting for a 49% share of total exports. Moreover, hydraulic jack exports to El Salvador exceeded the volume sent to the second major destination, Honduras (X units), threefold. Guatemala (X units) ranked third in terms of total exports with a 10% share.

From 2012 to 2022, the average annual growth rate of volume to El Salvador totaled +14.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (-6.1% per year) and Guatemala (-1.6% per year).

In value terms, El Salvador ($X) remains the key foreign market for hydraulic jacks and hoists for raising vehicles exports from Mexico, comprising 30% of total exports. The second position in the ranking was taken by Guatemala ($X), with an 11% share of total exports. It was followed by Colombia, with a 9.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to El Salvador stood at +11.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (+1.1% per year) and Colombia (-2.1% per year).

Export Prices by Country

The average hydraulic jack export price stood at $X per unit in 2022, increasing by 17% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the average export price increased by 105% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the Dominican Republic ($X per unit), while the average price for exports to El Salvador ($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 Venezuela (+15.9%), while the prices for the other major destinations experienced more modest paces of growth.

Hydraulic Jack Imports

Imports into Mexico

For the third consecutive year, Mexico recorded growth in supplies from abroad of hydraulic jacks and hoists for raising vehicles, which increased by 28% to X units in 2022. In general, imports continue to indicate a noticeable increase. The most prominent rate of growth was recorded in 2020 with an increase of 71% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, hydraulic jack imports expanded sharply to $X in 2022. The total import value increased at an average annual rate of +4.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 26% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X units) constituted the largest supplier of hydraulic jack to Mexico, with a 85% share of total imports. Moreover, hydraulic jack imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), sixfold.

From 2012 to 2022, the average annual growth rate of volume from China totaled +2.2%.

In value terms, China ($X) constituted the largest supplier of hydraulic jacks and hoists for raising vehicles to Mexico, comprising 81% of total imports. The second position in the ranking was taken by the United States ($X), with a 9.7% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +7.4%.

Import Prices by Country

The average hydraulic jack import price stood at $X per unit in 2022, falling by -11.2% against the previous year. In general, the import price, however, posted mild growth. The pace of growth was the most pronounced in 2015 when the average import price increased by 40% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per unit), while the price for the United States totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.1%).

Source: IndexBox Platform

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