South-Eastern Asia: Market for Hydraulic Cylinders And Systems 2024

Market Size for Hydraulic Cylinders And Systems in South-Eastern Asia

The Southeast Asian hydraulic cylinder and system market surged to $X in 2022, jumping by 43% against the previous year. Overall, consumption continues to indicate a buoyant expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Hydraulic Cylinders And Systems in South-Eastern Asia

In value terms, hydraulic cylinder and system production totaled $X in 2022 estimated in export price. The total production indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.5% against 2020 indices. The pace of growth appeared the most rapid in 2016 when the production volume increased by 17%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Hydraulic Cylinders And Systems

Exports in South-Eastern Asia

In 2022, overseas shipments of hydraulic cylinders and systems increased by 37% to X units, rising for the second consecutive year after two years of decline. In general, exports recorded a strong increase. The pace of growth was the most pronounced in 2018 with an increase of 91%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, hydraulic cylinder and system exports skyrocketed to $X in 2022. Overall, exports recorded a prominent increase. The most prominent rate of growth was recorded in 2015 when exports increased by 59%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in the near future.

Exports by Country

In 2022, Singapore (X units) represented the main exporter of hydraulic cylinders and systems, comprising 57% of total exports. Indonesia (X units) held a 27% share (based on physical terms) of total exports, which put it in second place, followed by the Philippines (9.4%). The following exporters - Thailand (X units), Malaysia (X units) and Vietnam (X units) - together made up 6.2% of total exports.

From 2012 to 2022, average annual rates of growth with regard to hydraulic cylinder and system exports from Singapore stood at +21.3%. At the same time, the Philippines (+56.5%), Vietnam (+49.8%), Malaysia (+22.3%), Thailand (+5.2%) and Indonesia (+1.7%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +56.5% from 2012-2022. While the share of Singapore (+32 p.p.), the Philippines (+9.4 p.p.) and Vietnam (+1.6 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Thailand (-2.2 p.p.) and Indonesia (-41.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) remains the largest hydraulic cylinder and system supplier in South-Eastern Asia, comprising 76% of total exports. The second position in the ranking was taken by the Philippines ($X), with a 7.8% share of total exports. It was followed by Indonesia, with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Singapore amounted to +21.7%. In the other countries, the average annual rates were as follows: the Philippines (+44.5% per year) and Indonesia (-2.7% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per unit in 2022, increasing by 11% against the previous year. Over the last decade, it increased at an average annual rate of +4.2%. The pace of growth was the most pronounced in 2013 an increase of 40% against the previous year. Over the period under review, the export prices attained the peak figure at $X per unit in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Thailand ($X per unit), while Indonesia (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 Thailand (+1.9%), while the other leaders experienced more modest paces of growth.

Imports of Hydraulic Cylinders And Systems

Imports in South-Eastern Asia

In 2022, the amount of hydraulic cylinders and systems imported in South-Eastern Asia soared to X units, growing by 31% against the year before. In general, imports enjoyed a buoyant increase. The growth pace was the most rapid in 2018 when imports increased by 62% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the near future.

In value terms, hydraulic cylinder and system imports soared to $X in 2022. Overall, imports recorded a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Indonesia was the key importing country with an import of around X units, which accounted for 42% of total imports. Thailand (X units) took the second position in the ranking, followed by Singapore (X units) and Malaysia (X units). All these countries together took near 51% share of total imports. Vietnam (X units) and the Philippines (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to hydraulic cylinder and system imports into Indonesia stood at +14.9%. At the same time, the Philippines (+39.7%), Malaysia (+20.3%), Singapore (+17.2%), Vietnam (+8.4%) and Thailand (+7.3%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +39.7% from 2012-2022. From 2012 to 2022, the share of Singapore, Indonesia, Malaysia and the Philippines increased by +5.6, +5.1, +4.6 and +2.6 percentage points, respectively.

In value terms, the largest hydraulic cylinder and system importing markets in South-Eastern Asia were Singapore ($X), Indonesia ($X) and Thailand ($X), together accounting for 81% of total imports. Malaysia, Vietnam and the Philippines lagged somewhat behind, together comprising a further 18%.

The Philippines, with a CAGR of +22.8%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per unit, surging by 8.7% against the previous year. In general, the import price, however, showed a slight setback. The pace of growth was the most pronounced in 2019 when the import price increased by 30%. The level of import peaked at $X per unit in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+3.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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