South-Eastern Asia: Jacks And Hoists Market 2024

Jacks And Hoists Market Size in South-Eastern Asia

In 2022, the Southeast Asian jacks and hoists market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption, however, saw a abrupt contraction. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Jacks And Hoists Production in South-Eastern Asia

In value terms, jacks and hoists production reduced to $X in 2022 estimated in export price. Overall, production, however, saw a abrupt downturn. The pace of growth was the most pronounced in 2019 when the production volume increased by 3.5% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Jacks And Hoists Exports

Exports in South-Eastern Asia

In 2022, after four years of growth, there was significant decline in shipments abroad of jacks and hoists for raising vehicles, when their volume decreased by -18.6% to X units. Overall, exports, however, saw a resilient increase. The pace of growth was the most pronounced in 2013 when exports increased by 157% against the previous year. The volume of export peaked at X units in 2021, and then fell sharply in the following year.

In value terms, jacks and hoists exports declined to $X in 2022. In general, exports showed a noticeable decline. The pace of growth was the most pronounced in 2013 when exports increased by 204% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

In 2022, Thailand (X units) and Vietnam (X units) represented the main exporters of jacks and hoists for raising vehicles in South-Eastern Asia, together amounting to approx. 76% of total exports. It was distantly followed by Singapore (X units), committing a 21% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +18.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Thailand ($X) and Vietnam ($X) were the countries with the highest levels of exports in 2022, together comprising 77% of total exports.

Thailand, with a CAGR of -2.5%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per unit, picking up by 10% against the previous year. Overall, the export price, however, faced a abrupt slump. The pace of growth appeared the most rapid in 2019 an increase of 43%. The level of export peaked at $X per unit in 2016; however, from 2017 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 Singapore ($X per unit), while Vietnam ($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 (-7.9%), while the other leaders experienced a decline in the export price figures.

Jacks And Hoists Imports

Imports in South-Eastern Asia

In 2022, supplies from abroad of jacks and hoists for raising vehicles increased by 8.4% to X units for the first time since 2018, thus ending a three-year declining trend. In general, imports, however, recorded a abrupt contraction. The pace of growth appeared the most rapid in 2018 when imports increased by 41% against the previous year. As a result, imports attained the peak of X units. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, jacks and hoists imports totaled $X in 2022. Overall, imports, however, showed a noticeable setback. The pace of growth was the most pronounced in 2016 when imports increased by 61%. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Thailand (X units), distantly followed by Malaysia (X units), Vietnam (X units), Indonesia (X units), the Philippines (X units) and Singapore (X units) were the major importers of jacks and hoists for raising vehicles, together generating 99% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Vietnam (with a CAGR of +34.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Indonesia ($X) and Thailand ($X) constituted the countries with the highest levels of imports in 2022, with a combined 69% share of total imports. Vietnam, Malaysia and the Philippines lagged somewhat behind, together accounting for a further 29%.

Among the main importing countries, Vietnam, with a CAGR of +12.5%, recorded the highest growth rate of 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

In 2022, the import price in South-Eastern Asia amounted to $X per unit, with a decrease of -2.1% against the previous year. Import price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, jacks and hoists import price increased by +90.3% against 2017 indices. The pace of growth appeared the most rapid in 2020 when the import price increased by 37%. Over the period under review, import prices attained the peak figure at $X per unit in 2021, and then shrank modestly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per unit), while Malaysia ($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 (+6.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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