Spain: Market for Hydraulic Cylinders And Systems 2024

Market Size for Hydraulic Cylinders And Systems in Spain

In 2022, the Spanish hydraulic cylinder and system market decreased by -68.7% to $X, falling for the second consecutive year after six years of growth. Over the period under review, consumption, however, showed a relatively flat trend pattern. Hydraulic cylinder and system consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Hydraulic Cylinders And Systems in Spain

In value terms, hydraulic cylinder and system production shrank to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a slight setback. The growth pace was the most rapid in 2013 with an increase of 59% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Exports of Hydraulic Cylinders And Systems

Exports from Spain

In 2022, the amount of hydraulic cylinders and systems exported from Spain soared to X units, picking up by 17% compared with the previous year. Over the period under review, exports continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2015 with an increase of 129% against the previous year. The exports peaked at X units in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, hydraulic cylinder and system exports rose rapidly to $X in 2022. In general, exports saw strong growth. The most prominent rate of growth was recorded in 2015 when exports increased by 78% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for hydraulic cylinder and system exports from Spain, accounting for a 68% share of total exports. Moreover, hydraulic cylinder and system exports to the United States exceeded the volume sent to the second major destination, Germany (X units), tenfold. The Czech Republic (X units) ranked third in terms of total exports with a 3.3% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +6.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+2.9% per year) and the Czech Republic (+101.2% per year).

In value terms, the United States ($X) remains the key foreign market for hydraulic cylinders and systems exports from Spain, comprising 33% of total exports. The second position in the ranking was held by Germany ($X), with a 12% share of total exports. It was followed by the UK, with an 8.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +5.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+3.3% per year) and the UK (+16.5% per year).

Export Prices by Country

In 2022, the average hydraulic cylinder and system export price amounted to $X per unit, waning by -3.9% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the average export price increased by 59% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2014 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to the United States (less than $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 the Netherlands (+10.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hydraulic Cylinders And Systems

Imports into Spain

In 2022, imports of hydraulic cylinders and systems into Spain skyrocketed to X units, with an increase of 23% against the previous year's figure. The total import volume increased at an average annual rate of +1.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2019 with an increase of 41%. As a result, imports attained the peak of X units. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, hydraulic cylinder and system imports reduced to $X in 2022. Over the period under review, total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.0% 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 +77.4% against 2013 indices. The most prominent rate of growth was recorded in 2015 when imports increased by 29%. Over the period under review, imports reached the peak figure at $X in 2021, and then dropped in the following year.

Imports by Country

Germany (X units), China (X units) and Italy (X units) were the main suppliers of hydraulic cylinder and system imports to Spain, together comprising 51% of total imports. Portugal, Austria, Finland, Sweden, France, the UK, the Netherlands, the United States and Denmark lagged somewhat behind, together comprising a further 40%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Finland (with a CAGR of +41.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the UK ($X) and France ($X) appeared to be the largest hydraulic cylinder and system suppliers to Spain, together comprising 48% of total imports. The United States, Italy, China, Finland, Austria, the Netherlands, Sweden, Denmark and Portugal lagged somewhat behind, together comprising a further 38%.

Among the main suppliers, Finland, with a CAGR of +39.0%, 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 average hydraulic cylinder and system import price amounted to $X per unit, waning by -25.9% against the previous year. Over the period under review, import price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 an increase of 31% against the previous year. The import price peaked at $X per unit in 2021, and then contracted rapidly in the following year.

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 the UK ($X per unit), while the price for Portugal (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 the UK (+20.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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