Uganda: Hydraulic Jack Market 2024

Hydraulic Jack Market Size in Uganda

The Ugandan hydraulic jack market declined rapidly to $X in 2022, waning by -33.2% 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). In general, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Hydraulic Jack Exports

Exports from Uganda

After four years of growth, shipments abroad of hydraulic jacks and hoists for raising vehicles decreased by -8.3% to X units in 2022. Over the period under review, exports, however, posted a significant expansion. The growth pace was the most rapid in 2014 when exports increased by 1,050%. The exports peaked at X units in 2021, and then shrank in the following year.

In value terms, hydraulic jack exports fell to $X in 2022. In general, exports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 796% against the previous year. The exports peaked at $X in 2021, and then reduced in the following year.

Exports by Country

Kenya (X units) was the main destination for hydraulic jack exports from Uganda, with a 71% share of total exports. Moreover, hydraulic jack exports to Kenya exceeded the volume sent to the second major destination, South Sudan (X units), fourfold.

From 2012 to 2022, the average annual growth rate of volume to Kenya amounted to +100.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Sudan (+59.7% per year) and Democratic Republic of the Congo (+105.4% per year).

In value terms, Kenya ($X) remains the key foreign market for hydraulic jacks and hoists for raising vehicles exports from Uganda, comprising 66% of total exports. The second position in the ranking was held by South Sudan ($X), with a 27% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Kenya totaled +103.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Sudan (+74.2% per year) and Democratic Republic of the Congo (+72.8% per year).

Export Prices by Country

In 2022, the average hydraulic jack export price amounted to $X per unit, stabilizing at the previous year. Over the period under review, the export price continues to indicate a deep slump. The pace of growth appeared the most rapid in 2017 an increase of 73%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Sudan ($X per unit), while the average price for exports to Democratic Republic of the Congo ($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 South Sudan (+9.1%), while the prices for the other major destinations experienced mixed trend patterns.

Hydraulic Jack Imports

Imports into Uganda

Hydraulic jack imports into Uganda shrank sharply to X units in 2022, reducing by -18.4% on the previous year's figure. Over the period under review, imports, however, continue to indicate a temperate increase. The growth pace was the most rapid in 2014 with an increase of 85%. As a result, imports attained the peak of X units. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, hydraulic jack imports reduced dramatically to $X in 2022. Overall, imports, however, posted a strong increase. The pace of growth was the most pronounced in 2021 when imports increased by 258% against the previous year. As a result, imports reached the peak of $X, and then declined remarkably in the following year.

Imports by Country

In 2022, China (X units) constituted the largest supplier of hydraulic jack to Uganda, accounting for a 64% share of total imports. Moreover, hydraulic jack imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), sixfold. Japan (X units) ranked third in terms of total imports with a 9.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +6.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+98.2% per year) and Japan (-3.4% per year).

In value terms, China ($X), India ($X) and Denmark ($X) constituted the largest hydraulic jack suppliers to Uganda, with a combined 59% share of total imports. The UK, the United States, Japan and South Africa lagged somewhat behind, together accounting for a further 21%.

The United States, with a CAGR of +60.9%, recorded the highest growth rate of the value of imports, in terms of the main suppliers 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 jack import price amounted to $X per unit, which is down by -21.6% against the previous year. Over the period under review, the import price, however, enjoyed a remarkable increase. The pace of growth was the most pronounced in 2021 when the average import price increased by 128%. As a result, import price attained the peak level of $X per unit, and then declined 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 Denmark ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+31.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform