ASEAN: Oil Dispensing Pump Market 2024

Oil Dispensing Pump Market Size in ASEAN

In 2021, the ASEAN oil dispensing pump market decreased by -10.4% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, consumption, however, showed a noticeable curtailment. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Oil Dispensing Pump Production in ASEAN

In value terms, oil dispensing pump production reduced notably to $X in 2021 estimated in export price. Overall, production, however, posted a strong expansion. The most prominent rate of growth was recorded in 2019 with an increase of 1,157% against the previous year. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Oil Dispensing Pump Exports

Exports in ASEAN

In 2021, approx. X units of petrol and oil dispensing pumps were exported in ASEAN; surging by 141% on the previous year's figure. In general, exports continue to indicate a noticeable increase. Over the period under review, the exports attained the maximum at X units in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, oil dispensing pump exports surged to $X in 2021. Overall, exports, however, continue to indicate a deep contraction. The growth pace was the most rapid in 2015 with an increase of 58%. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Singapore was the largest exporter of petrol and oil dispensing pumps in ASEAN, with the volume of exports recording X units, which was near 68% of total exports in 2021. It was distantly followed by Thailand (X units), creating a 26% share of total exports. Malaysia (X units) followed a long way behind the leaders.

Singapore was also the fastest-growing in terms of the petrol and oil dispensing pumps exports, with a CAGR of +8.7% from 2012 to 2021. Malaysia experienced a relatively flat trend pattern. Thailand (-2.3%) illustrated a downward trend over the same period. While the share of Singapore (+22 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Malaysia (-1.8 p.p.) and Thailand (-20 p.p.) displayed negative dynamics.

In value terms, Thailand ($X), Singapore ($X) and Malaysia ($X) appeared to be the countries with the highest levels of exports in 2021, together comprising 98% of total exports.

Singapore, with a CAGR of +4.3%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in ASEAN stood at $X per unit in 2021, declining by -50.4% against the previous year. Over the period under review, the export price continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2015 an increase of 113%. The level of export peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Malaysia ($X per unit), while Singapore ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+3.2%), while the other leaders experienced a decline in the export price figures.

Oil Dispensing Pump Imports

Imports in ASEAN

In 2021, purchases abroad of petrol and oil dispensing pumps increased by 32% to X units for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +3.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, oil dispensing pump imports skyrocketed to $X in 2021. Total imports indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 73% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Indonesia represented the main importing country with an import of about X units, which reached 47% of total imports. Malaysia (X units) took the second position in the ranking, followed by Singapore (X units), Vietnam (X units), the Philippines (X units) and Thailand (X units). All these countries together took near 49% share of total imports. Myanmar (X units) took a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to oil dispensing pump imports into Indonesia stood at +8.3%. At the same time, Singapore (+14.6%), the Philippines (+12.0%), Malaysia (+11.4%) and Vietnam (+6.4%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +14.6% from 2012-2021. By contrast, Myanmar (-3.1%) and Thailand (-16.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Indonesia, Malaysia, Singapore, the Philippines and Vietnam increased by +15, +8.2, +7.8, +3 and +1.6 percentage points, respectively.

In value terms, Indonesia ($X), Malaysia ($X) and the Philippines ($X) constituted the countries with the highest levels of imports in 2021, with a combined 63% share of total imports.

Indonesia, with a CAGR of +12.8%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per unit, reducing by -8.8% against the previous year. Over the period under review, the import price showed a mild slump. The pace of growth was the most pronounced in 2013 an increase of 40%. As a result, import price reached the peak level of $X per unit. From 2014 to 2021, the import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was the Philippines ($X per unit), while Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+9.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform