Pakistan: Lift And Hoist Market 2024

Lift And Hoist Market Size in Pakistan

In 2022, the Pakistani lift and hoist market increased by 14% to $X, rising for the second consecutive year after two years of decline. Overall, consumption continues to indicate a strong expansion. Lift and hoist consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Lift And Hoist Exports

Exports from Pakistan

Lift and hoist exports from Pakistan amounted to X units in 2022, approximately reflecting the previous year's figure. In general, exports showed a abrupt slump. The growth pace was the most rapid in 2015 when exports increased by 100% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, lift and hoist exports soared to $X in 2022. Overall, exports recorded a sharp slump. The most prominent rate of growth was recorded in 2018 with an increase of 2,513% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Tanzania (X units), Ethiopia (X units) and the United Arab Emirates (X units) were the main destinations of lift and hoist exports from Pakistan, with a combined 75% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Tanzania (with a CAGR of 0.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) remains the key foreign market for lifts and hoists exports from Pakistan, comprising 100% of total exports. The second position in the ranking was held by Tanzania ($X), with less than 0.1% share of total exports. It was followed by China, with less than 0.1% share.

From 2012 to 2022, the average annual growth rate of value to the United Arab Emirates stood at -23.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tanzania (-51.0% per year) and China (-32.9% per year).

Export Prices by Country

In 2022, the average lift and hoist export price amounted to $X per unit, rising by 43% against the previous year. Overall, the export price, however, faced a abrupt descent. The most prominent rate of growth was recorded in 2018 when the average export price increased by 1,533%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Ethiopia ($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 the United Arab Emirates (-6.9%), while the prices for the other major destinations experienced a decline.

Lift And Hoist Imports

Imports into Pakistan

In 2022, supplies from abroad of lifts and hoists increased by 40% to X units, rising for the second consecutive year after two years of decline. Overall, imports showed a resilient expansion. The most prominent rate of growth was recorded in 2016 with an increase of 73% against the previous year. Imports peaked at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, lift and hoist imports amounted to $X in 2022. Over the period under review, imports showed resilient growth. The most prominent rate of growth was recorded in 2014 with an increase of 75%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of lift and hoist to Pakistan, with a 75% share of total imports. Moreover, lift and hoist imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), tenfold. Spain (X units) ranked third in terms of total imports with a 3.6% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +20.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+36.6% per year) and Spain (+19.4% per year).

In value terms, China ($X) constituted the largest supplier of lifts and hoists to Pakistan, comprising 67% of total imports. The second position in the ranking was taken by Spain ($X), with a 7.6% share of total imports. It was followed by Japan, with a 5.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +13.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+16.8% per year) and Japan (+34.9% per year).

Import Prices by Country

In 2022, the average lift and hoist import price amounted to $X per unit, shrinking by -27.7% against the previous year. Over the period under review, the import price showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 when the average import price increased by 17% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+1.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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