Peru: Market for Hydraulic Cylinders And Systems 2024

Market Size for Hydraulic Cylinders And Systems in Peru

The Peruvian hydraulic cylinder and system market fell to $X in 2022, with a decrease of -13.3% 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). Overall, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then declined in the following year.

Exports of Hydraulic Cylinders And Systems

Exports from Peru

In 2022, exports of hydraulic cylinders and systems from Peru soared to X units, jumping by 56% against the year before. Over the period under review, exports enjoyed a buoyant increase. The growth pace was the most rapid in 2014 with an increase of 301%. The exports peaked at X units in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, hydraulic cylinder and system exports soared to $X in 2022. Overall, exports enjoyed a resilient increase. The pace of growth was the most pronounced in 2014 with an increase of 227% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for hydraulic cylinder and system exports from Peru, accounting for a 64% share of total exports. Moreover, hydraulic cylinder and system exports to the United States exceeded the volume sent to the second major destination, Chile (X units), twofold. The third position in this ranking was taken by Ecuador (X units), with a 3.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +14.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+34.7% per year) and Ecuador (+12.3% per year).

In value terms, the United States ($X) remains the key foreign market for hydraulic cylinders and systems exports from Peru, comprising 58% of total exports. The second position in the ranking was taken by Chile ($X), with a 22% share of total exports. It was followed by the Netherlands, with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +22.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+26.8% per year) and the Netherlands (+15.0% per year).

Export Prices by Country

The average hydraulic cylinder and system export price stood at $X per unit in 2022, growing by 4.7% against the previous year. In general, export price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hydraulic cylinder and system export price decreased by -1.9% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the average export price increased by 100% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2014 to 2022, the average 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 Netherlands ($X per unit), while the average price for exports to Ecuador ($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 Netherlands (+8.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hydraulic Cylinders And Systems

Imports into Peru

In 2022, approx. X units of hydraulic cylinders and systems were imported into Peru; declining by -16% compared with the year before. Over the period under review, total imports indicated slight growth from 2012 to 2022: its volume increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +64.8% against 2017 indices. The most prominent rate of growth was recorded in 2021 with an increase of 49%. As a result, imports attained the peak of X units, and then contracted sharply in the following year.

In value terms, hydraulic cylinder and system imports contracted to $X in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 39%. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Brazil (X units), the United States (X units) and Germany (X units) were the main suppliers of hydraulic cylinder and system imports to Peru, together accounting for 58% of total imports. China, Japan, Turkey, Sweden, Mexico, Spain, Chile, Finland and Italy lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +48.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of hydraulic cylinders and systems to Peru, comprising 34% of total imports. The second position in the ranking was taken by Germany ($X), with a 12% share of total imports. It was followed by Japan, with a 9.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+7.4% per year) and Japan (-0.5% per year).

Import Prices by Country

The average hydraulic cylinder and system import price stood at $X per unit in 2022, growing by 7% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 14%. As a result, import price reached the peak level of $X per unit. From 2020 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+9.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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