Russian Federation: Jacks And Hoists Market 2024

Jacks And Hoists Market Size in the Russian Federation

The Russian jacks and hoists market reduced to $X in 2022, with a decrease of -6.3% against the previous year. Overall, consumption recorded a abrupt shrinkage. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Jacks And Hoists Production in the Russian Federation

In value terms, jacks and hoists production shrank to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a deep setback. The most prominent rate of growth was recorded in 2021 with an increase of 33% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Jacks And Hoists Exports

Exports from the Russian Federation

In 2022, approx. X units of jacks and hoists for raising vehicles were exported from Russia; waning by -28.4% against 2021. Over the period under review, exports recorded a slight slump. The pace of growth was the most pronounced in 2018 with an increase of 359% against the previous year. As a result, the exports attained the peak of X units. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, jacks and hoists exports declined rapidly to $X in 2022. In general, exports saw a slight slump. The pace of growth appeared the most rapid in 2021 with an increase of 288%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Algeria (X units) was the main destination for jacks and hoists exports from Russia, with a 84% share of total exports. Moreover, jacks and hoists exports to Algeria exceeded the volume sent to the second major destination, Ukraine (X units), more than tenfold. Kazakhstan (X units) ranked third in terms of total exports with a 3.2% share.

From 2012 to 2022, the average annual growth rate of volume to Algeria totaled +20.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+10.7% per year) and Kazakhstan (-12.7% per year).

In value terms, Algeria ($X) remains the key foreign market for jacks and hoists for raising vehicles exports from Russia, comprising 81% of total exports. The second position in the ranking was held by Kazakhstan ($X), with a 5.7% share of total exports. It was followed by Belarus, with a 3.8% share.

From 2012 to 2022, the average annual growth rate of value to Algeria totaled +10.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kazakhstan (-14.9% per year) and Belarus (-7.4% per year).

Export Prices by Country

In 2022, the average jacks and hoists export price amounted to $X per unit, reducing by -12.2% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the average export price increased by 87%. Over the period under review, the average export prices reached the maximum at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kazakhstan ($X per unit), while the average price for exports to Ukraine ($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 Kazakhstan (-2.5%), while the prices for the other major destinations experienced a decline.

Jacks And Hoists Imports

Imports into the Russian Federation

In 2022, the amount of jacks and hoists for raising vehicles imported into Russia reduced to X units, which is down by -8.4% against the year before. In general, imports showed a perceptible descent. The growth pace was the most rapid in 2017 when imports increased by 26% against the previous year. Over the period under review, imports hit record highs at X units in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, jacks and hoists imports declined to $X in 2022. Over the period under review, imports continue to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2016 with an increase of 16% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

China (X units), South Korea (X units) and Romania (X units) were the main suppliers of jacks and hoists imports to Russia, together accounting for 67% of total imports. Spain, Japan and France lagged somewhat behind, together comprising a further 27%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +9.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), South Korea ($X) and Spain ($X) appeared to be the largest jacks and hoists suppliers to Russia, together comprising 68% of total imports.

In terms of the main suppliers, Spain, with a CAGR of +6.4%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average jacks and hoists import price stood at $X per unit in 2022, surging by 4.9% against the previous year. Over the period under review, the import price, however, continues to indicate a mild contraction. The most prominent rate of growth was recorded in 2016 when the average import price increased by 30%. As a result, import price reached the peak level of $X per unit. From 2017 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 China ($X per unit), while the price for Romania ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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