U.S.: Jacks And Hoists Market 2024

Jacks And Hoists Market Size in the U.S.

The U.S. jacks and hoists market contracted modestly to $X in 2022, which is down by -3.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +3.2% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X, and then declined modestly in the following year.

Jacks And Hoists Exports

Exports from the U.S.

In 2022, shipments abroad of jacks and hoists for raising vehicles increased by 14% to X units, rising for the second consecutive year after four years of decline. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when exports increased by 17%. The exports peaked at X units in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, jacks and hoists exports soared to $X in 2022. The total export value increased at an average annual rate of +1.7% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2013 when exports increased by 24%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Canada (X units), Mexico (X units) and Brazil (X units) were the main destinations of jacks and hoists exports from the United States, with a combined 58% share of total exports. Germany, Japan, Israel, Sweden, Australia, the UK, Saudi Arabia, Egypt and China lagged somewhat behind, together comprising a further 25%.

From 2012 to 2022, the biggest increases were recorded for Egypt (with a CAGR of +48.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Canada ($X) remains the key foreign market for jacks and hoists for raising vehicles exports from the United States, comprising 37% of total exports. The second position in the ranking was taken by Mexico ($X), with a 17% share of total exports. It was followed by Brazil, with a 5.3% share.

From 2012 to 2022, the average annual growth rate of value to Canada was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+2.8% per year) and Brazil (+16.3% per year).

Export Prices by Country

The average jacks and hoists export price stood at $X per unit in 2022, rising by 1.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. The pace of growth appeared the most rapid in 2013 when the average export price increased by 16% against the previous year. The export price peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

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 Canada ($X per unit), while the average price for exports to Egypt ($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 Canada (+3.5%), while the prices for the other major destinations experienced more modest paces of growth.

Jacks And Hoists Imports

Imports into the U.S.

In 2022, approx. X units of jacks and hoists for raising vehicles were imported into the United States; which is down by -10.1% on the year before. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 20% against the previous year. Over the period under review, imports attained the peak figure at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, jacks and hoists imports rose to $X in 2022. The total import value increased at an average annual rate of +3.3% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 35%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X units) constituted the largest jacks and hoists supplier to the United States, with a 64% share of total imports. Moreover, jacks and hoists imports from China exceeded the figures recorded by the second-largest supplier, Canada (X units), twofold. The third position in this ranking was taken by Mexico (X units), with a 3.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-1.5% per year) and Mexico (-3.5% per year).

In value terms, China ($X) constituted the largest supplier of jacks and hoists for raising vehicles to the United States, comprising 56% of total imports. The second position in the ranking was taken by Canada ($X), with a 23% share of total imports. It was followed by Mexico, with a 6.2% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +3.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+3.5% per year) and Mexico (+2.1% per year).

Import Prices by Country

In 2022, the average jacks and hoists import price amounted to $X per unit, picking up by 14% against the previous year. Over the last decade, it increased at an average annual rate of +2.7%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Mexico ($X per unit), while the price for Canada ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+5.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :