South Africa: Hydraulic Jack Market 2024

Hydraulic Jack Market Size in South Africa

The South African hydraulic jack market shrank modestly to $X in 2022, therefore, remained relatively stable against the previous year. In general, consumption, however, continues to indicate a remarkable increase. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Hydraulic Jack Production in South Africa

In value terms, hydraulic jack production contracted slightly to $X in 2022 estimated in export price. In general, production, however, posted a resilient increase. The most prominent rate of growth was recorded in 2017 with an increase of 135% against the previous year. Hydraulic jack production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Hydraulic Jack Exports

Exports from South Africa

In 2022, shipments abroad of hydraulic jacks and hoists for raising vehicles increased by 8.4% to X units, rising for the second year in a row after two years of decline. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 44%. Over the period under review, the exports attained the maximum at X units in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, hydraulic jack exports surged to $X in 2022. In general, total exports indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +47.9% against 2019 indices. The pace of growth was the most pronounced in 2018 when exports increased by 45% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Zimbabwe (X units), Namibia (X units) and Zambia (X units) were the main destinations of hydraulic jack exports from South Africa, together comprising 58% of total exports. Mozambique, Botswana, Swaziland, Lesotho and Democratic Republic of the Congo lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mozambique (with a CAGR of +10.4%), while the other leaders experienced more modest paces of growth.

In value terms, Namibia ($X) remains the key foreign market for hydraulic jacks and hoists for raising vehicles exports from South Africa, comprising 41% of total exports. The second position in the ranking was taken by Zimbabwe ($X), with a 12% share of total exports. It was followed by Botswana, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Namibia totaled +14.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Zimbabwe (-1.8% per year) and Botswana (+0.9% per year).

Export Prices by Country

The average hydraulic jack export price stood at $X per unit in 2022, increasing by 13% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.5%. The most prominent rate of growth was recorded in 2017 when the average export price increased by 18%. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Democratic Republic of the Congo ($X per unit), while the average price for exports to Zambia ($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 Swaziland (+13.0%), while the prices for the other major destinations experienced more modest paces of growth.

Hydraulic Jack Imports

Imports into South Africa

In 2022, hydraulic jack imports into South Africa dropped to X units, shrinking by -10.9% compared with the year before. Over the period under review, total imports indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of +3.2% 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 +38.4% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 55% against the previous year. Over the period under review, imports attained the maximum at X units in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, hydraulic jack imports reduced slightly to $X in 2022. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 28%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X units) was the main hydraulic jack supplier to South Africa, accounting for a 90% share of total imports. Moreover, hydraulic jack imports from China exceeded the figures recorded by the second-largest supplier, Canada (X units), more than tenfold. The UK (X units) ranked third in terms of total imports with a 1.3% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +7.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+30.5% per year) and the UK (-14.3% per year).

In value terms, China ($X) constituted the largest supplier of hydraulic jacks and hoists for raising vehicles to South Africa, comprising 75% of total imports. The second position in the ranking was held by the UK ($X), with a 2.5% share of total imports. It was followed by Canada, with a 1.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-8.1% per year) and Canada (+15.5% per year).

Import Prices by Country

In 2022, the average hydraulic jack import price amounted to $X per unit, picking up by 10% against the previous year. In general, the import price, however, saw a noticeable curtailment. The most prominent rate of growth was recorded in 2017 an increase of 25%. Over the period under review, average import prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+20.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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