Pakistan: Market for Hydraulic Cylinders And Systems 2024

Market Size for Hydraulic Cylinders And Systems in Pakistan

The Pakistani hydraulic cylinder and system market declined markedly to $X in 2022, dropping by -25% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, continues to indicate a resilient expansion. Hydraulic cylinder and system consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Exports of Hydraulic Cylinders And Systems

Exports from Pakistan

In 2022, overseas shipments of hydraulic cylinders and systems decreased by -51.3% to X units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 1,154% against the previous year. Over the period under review, the exports attained the maximum at X units in 2021, and then shrank significantly in the following year.

In value terms, hydraulic cylinder and system exports contracted sharply to $X in 2022. Overall, exports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2016 when exports increased by 1,039%. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

France (X units), the United States (X units) and Germany (X units) were the main destinations of hydraulic cylinder and system exports from Pakistan, together accounting for 62% of total exports. China, Romania, Oman and the UK lagged somewhat behind, together comprising a further 34%.

From 2012 to 2022, the biggest increases were recorded for Oman (with a CAGR of +661.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, France ($X) remains the key foreign market for hydraulic cylinders and systems exports from Pakistan, comprising 48% of total exports. The second position in the ranking was held by Germany ($X), with an 18% share of total exports. It was followed by the UK, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to France stood at +116.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+61.3% per year) and the UK (+42.1% per year).

Export Prices by Country

The average hydraulic cylinder and system export price stood at $X per unit in 2022, growing by 15% against the previous year. In general, the export price, however, saw a pronounced descent. The most prominent rate of growth was recorded in 2016 when the average export price increased by 120%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to Romania ($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 China (+7.3%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Hydraulic Cylinders And Systems

Imports into Pakistan

In 2022, hydraulic cylinder and system imports into Pakistan reduced dramatically to X units, falling by -42% on 2021 figures. Overall, imports, however, posted buoyant growth. The most prominent rate of growth was recorded in 2016 with an increase of 321%. Imports peaked at X units in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, hydraulic cylinder and system imports declined dramatically to $X in 2022. Over the period under review, imports, however, posted a resilient increase. The most prominent rate of growth was recorded in 2016 when imports increased by 323% against the previous year. Imports peaked at $X in 2021, and then reduced remarkably in the following year.

Imports by Country

In 2022, Bulgaria (X units) constituted the largest supplier of hydraulic cylinder and system to Pakistan, with a 50% share of total imports. Moreover, hydraulic cylinder and system imports from Bulgaria exceeded the figures recorded by the second-largest supplier, the United States (X units), threefold. The third position in this ranking was held by China (X units), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from Bulgaria totaled +7.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+37.5% per year) and China (+27.1% per year).

In value terms, Bulgaria ($X) constituted the largest supplier of hydraulic cylinders and systems to Pakistan, comprising 40% of total imports. The second position in the ranking was taken by the United States ($X), with an 18% share of total imports. It was followed by China, with a 9.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Bulgaria totaled +15.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+45.0% per year) and China (+22.8% per year).

Import Prices by Country

The average hydraulic cylinder and system import price stood at $X per unit in 2022, growing by 35% against the previous year. In general, the import price continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2021 when the average import price increased by 82% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Turkey ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+20.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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