Uruguay: Market for Hydraulic Cylinders And Systems 2024

Market Size for Hydraulic Cylinders And Systems in Uruguay

The Uruguayan hydraulic cylinder and system market declined to $X in 2022, falling by -2.3% 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). In general, the total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.2% 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 -13.9% against 2019 indices. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Exports of Hydraulic Cylinders And Systems

Exports from Uruguay

For the fourth consecutive year, Uruguay recorded decline in shipments abroad of hydraulic cylinders and systems, which decreased by -82.1% to X units in 2022. In general, exports recorded a abrupt decrease. The most prominent rate of growth was recorded in 2016 when exports increased by 2,819% against the previous year. The exports peaked at X units in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, hydraulic cylinder and system exports contracted sharply to $X in 2022. Over the period under review, exports showed a slight slump. The most prominent rate of growth was recorded in 2016 when exports increased by 4,308% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Brazil (X units) was the main destination for hydraulic cylinder and system exports from Uruguay, with a 64% share of total exports. Moreover, hydraulic cylinder and system exports to Brazil exceeded the volume sent to the second major destination, Paraguay (X units), threefold. Chile (X units) ranked third in terms of total exports with a 6.8% share.

From 2012 to 2022, the average annual growth rate of volume to Brazil amounted to +37.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (+21.2% per year) and Chile (+22.2% per year).

In value terms, the largest markets for hydraulic cylinder and system exported from Uruguay were Brazil ($X), Paraguay ($X) and Argentina ($X), together comprising 92% of total exports.

In terms of the main countries of destination, Brazil, with a CAGR of +29.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average hydraulic cylinder and system export price stood at $X per unit in 2022, jumping by 18% against the previous year. In general, the export price recorded a buoyant increase. The most prominent rate of growth was recorded in 2021 an increase of 70%. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Argentina ($X per unit), while the average price for exports to Brazil ($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 Austria (+49.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hydraulic Cylinders And Systems

Imports into Uruguay

Hydraulic cylinder and system imports into Uruguay surged to X units in 2022, growing by 16% against 2021 figures. Over the period under review, total imports indicated a measured increase from 2012 to 2022: its volume 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, imports increased by +74.2% against 2020 indices. The pace of growth appeared the most rapid in 2019 with an increase of 67%. Over the period under review, imports reached the maximum at X units in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, hydraulic cylinder and system imports dropped to $X in 2022. Overall, imports recorded resilient growth. The pace of growth was the most pronounced in 2019 when imports increased by 83% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Brazil (X units) constituted the largest supplier of hydraulic cylinder and system to Uruguay, with a 42% share of total imports. Moreover, hydraulic cylinder and system imports from Brazil exceeded the figures recorded by the second-largest supplier, Turkey (X units), threefold. The third position in this ranking was taken by Italy (X units), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from Brazil was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+70.7% per year) and Italy (+4.7% per year).

In value terms, Brazil ($X), the United States ($X) and Finland ($X) appeared to be the largest hydraulic cylinder and system suppliers to Uruguay, with a combined 51% share of total imports. Italy, Turkey, China, Denmark, the UK and Argentina lagged somewhat behind, together accounting for a further 22%.

Turkey, with a CAGR of +45.7%, saw 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

The average hydraulic cylinder and system import price stood at $X per unit in 2022, waning by -18.6% against the previous year. Overall, import price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hydraulic cylinder and system import price decreased by -19.5% against 2020 indices. The most prominent rate of growth was recorded in 2016 an increase of 24%. Over the period under review, average import prices hit record highs at $X per unit in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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 Turkey (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 (+16.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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