Southern Asia: Market for Hydraulic Cylinders And Systems 2024

Market Size for Hydraulic Cylinders And Systems in Southern Asia

The South Asian hydraulic cylinder and system market rose slightly to $X in 2022, surging by 2.4% against the previous year. The total consumption indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -2.2% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2020; afterwards, it flattened through to 2022.

Production of Hydraulic Cylinders And Systems in Southern Asia

In value terms, hydraulic cylinder and system production expanded slightly to $X in 2022 estimated in export price. The total production indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +7.3% 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 -3.9% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by 36% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Hydraulic Cylinders And Systems

Exports in Southern Asia

In 2022, the amount of hydraulic cylinders and systems exported in Southern Asia soared to X units, with an increase of 27% on 2021 figures. In general, exports showed significant growth. The pace of growth appeared the most rapid in 2018 with an increase of 131%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, hydraulic cylinder and system exports rose markedly to $X in 2022. Over the period under review, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2018 when exports increased by 135%. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

In 2022, India (X units) represented the major exporter of hydraulic cylinders and systems in Southern Asia, creating 99% of total export.

India was also the fastest-growing in terms of the hydraulic cylinders and systems exports, with a CAGR of +20.9% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest hydraulic cylinder and system supplier in Southern Asia.

In India, hydraulic cylinder and system exports expanded at an average annual rate of +23.8% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per unit, shrinking by -10.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.3%. The most prominent rate of growth was recorded in 2017 an increase of 38% against the previous year. The level of export peaked at $X per unit in 2021, and then contracted in the following year.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to +2.3% per year.

Imports of Hydraulic Cylinders And Systems

Imports in Southern Asia

In 2022, approx. X units of hydraulic cylinders and systems were imported in Southern Asia; picking up by 2.3% on the previous year. Overall, imports enjoyed significant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 101% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, hydraulic cylinder and system imports reached $X in 2022. Over the period under review, imports showed a prominent expansion. The most prominent rate of growth was recorded in 2016 with an increase of 73% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

India dominates imports structure, resulting at X units, which was approx. 92% of total imports in 2022. The following importers - Bangladesh (X units) and Sri Lanka (X units) - each amounted to a 6.1% share of total imports.

India was also the fastest-growing in terms of the hydraulic cylinders and systems imports, with a CAGR of +24.2% from 2012 to 2022. At the same time, Sri Lanka (+23.6%) and Bangladesh (+13.7%) displayed positive paces of growth. From 2012 to 2022, the share of India increased by +11 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported hydraulic cylinders and systems in Southern Asia, comprising 91% of total imports. The second position in the ranking was taken by Bangladesh ($X), with a 5.2% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in India amounted to +18.5%. The remaining importing countries recorded the following average annual rates of imports growth: Bangladesh (+13.4% per year) and Sri Lanka (+4.9% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per unit in 2022, remaining relatively unchanged against the previous year. Overall, the import price, however, continues to indicate a perceptible contraction. The pace of growth was the most pronounced in 2019 when the import price increased by 11% against the previous year. Over the period under review, import prices attained the peak figure at $X per unit in 2012; however, from 2013 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 Bangladesh ($X per unit), while Sri Lanka (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 Bangladesh (-0.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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