Myanmar: Hydraulic Jack Market 2024

Hydraulic Jack Market Size in Myanmar

The Myanmar's hydraulic jack market fell to $X in 2022, approximately equating the previous year. In general, consumption, however, continues to indicate a noticeable shrinkage. Hydraulic jack consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Hydraulic Jack Production in Myanmar

In value terms, hydraulic jack production amounted to $X in 2022 estimated in export price. Over the period under review, production enjoyed a mild expansion. The growth pace was the most rapid in 2020 when the production volume increased by 51% 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.

Hydraulic Jack Exports

Exports from Myanmar

In 2022, after four years of growth, there was significant decline in shipments abroad of hydraulic jacks and hoists for raising vehicles, when their volume decreased by -47.8% to X units. Over the period under review, exports faced a abrupt shrinkage. The growth pace was the most rapid in 2019 with an increase of 180%. Over the period under review, the exports attained the maximum at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, hydraulic jack exports fell markedly to $X in 2022. Overall, exports continue to indicate a sharp downturn. The pace of growth appeared the most rapid in 2021 when exports increased by 148% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Singapore (X units) was the main destination for hydraulic jack exports from Myanmar, with a 97% share of total exports. It was followed by India (X units), with a 2.9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Singapore totaled +42.3%.

In value terms, Singapore ($X) emerged as the key foreign market for hydraulic jacks and hoists for raising vehicles exports from Myanmar, comprising 100% of total exports. The second position in the ranking was taken by India ($X), with a 0.1% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Singapore totaled +39.1%.

Export Prices by Country

The average hydraulic jack export price stood at $X per unit in 2022, which is down by -68.5% against the previous year. Over the period under review, the export price recorded a precipitous decline. The pace of growth was the most pronounced in 2015 when the average export price increased by 158%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per unit), while the average price for exports to India amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+0.1%), while the prices for the other major destinations experienced a decline.

Hydraulic Jack Imports

Imports into Myanmar

In 2022, imports of hydraulic jacks and hoists for raising vehicles into Myanmar surged to X units, picking up by 50% compared with 2021. Over the period under review, imports showed a temperate increase. The most prominent rate of growth was recorded in 2014 when imports increased by 135%. As a result, imports reached the peak of X units. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, hydraulic jack imports surged to $X in 2022. Overall, imports posted slight growth. The growth pace was the most rapid in 2014 with an increase of 136% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X units), France (X units) and Thailand (X units) were the main suppliers of hydraulic jack imports to Myanmar, with a combined 96% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +143.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of hydraulic jacks and hoists for raising vehicles to Myanmar, comprising 59% of total imports. The second position in the ranking was taken by Japan ($X), with a 22% share of total imports. It was followed by Thailand, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +1.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+31.6% per year) and Thailand (+16.6% per year).

Import Prices by Country

The average hydraulic jack import price stood at $X per unit in 2022, with a decrease of -11.8% against the previous year. Over the period under review, the import price continues to indicate a pronounced slump. The pace of growth appeared the most rapid in 2018 an increase of 103%. As a result, import price attained the peak level of $X per unit. From 2019 to 2022, the average import prices failed to regain momentum.

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 Japan ($X per unit), while the price for France ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+27.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :