Asia-Pacific: Market for Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels 2022

Market Size for Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels in Asia-Pacific

The Asia-Pacific market for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels expanded modestly to $X in 2021, surging by 3.2% against the previous year. The market value increased at an average annual rate of +1.8% from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Production of Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels in Asia-Pacific

In value terms, grease fittings and oil seals production declined to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.6% from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2014 with an increase of 24% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Exports of Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels

Exports in Asia-Pacific

In 2021, the amount of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels exported in Asia-Pacific soared to X units, with an increase of 24% against the previous year's figure. Over the period under review, exports recorded a buoyant expansion. The pace of growth was the most pronounced in 2020 when exports increased by 106%. The volume of export peaked in 2021 and is likely to see gradual growth in the immediate term.

In value terms, grease fittings and oil seals exports shrank slightly to $X in 2021. Total exports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +28.0% against 2015 indices. The most prominent rate of growth was recorded in 2014 with an increase of 30%. Over the period under review, the exports hit record highs at $X in 2020, and then dropped in the following year.

Exports by Country

China (X units) represented roughly 94% of total exports in 2021.

China was also the fastest-growing in terms of the non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels exports, with a CAGR of +19.0% from 2012 to 2021. From 2012 to 2021, the share of China increased by +14 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest grease fittings and oil seals supplier in Asia-Pacific.

In China, grease fittings and oil seals exports increased at an average annual rate of +12.8% over the period from 2012-2021.

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2021, reducing by -22.1% against the previous year. In general, the export price saw a abrupt slump. The growth pace was the most rapid in 2016 when the export price increased by 16% against the previous year. Over the period under review, the export prices reached the peak figure at $X per unit in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to -5.2% per year.

Imports of Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels

Imports in Asia-Pacific

In 2021, purchases abroad of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels was finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports, however, continue to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2017 when imports increased by 24% against the previous year. Over the period under review, imports attained the maximum at X units in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, grease fittings and oil seals imports fell slightly to $X in 2021. In general, imports, however, showed a mild contraction. The pace of growth was the most pronounced in 2017 with an increase of 22%. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units), distantly followed by Marshall Islands (X units), Japan (X units), South Korea (X units), Vietnam (X units), Indonesia (X units) and Singapore (X units) were the largest importers of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels, together comprising 77% of total imports. The following importers - Malaysia (X units), Hong Kong SAR (X units), India (X units), Thailand (X units), Bangladesh (X units) and the Philippines (X units) - together made up 18% of total imports.

From 2012 to 2021, average annual rates of growth with regard to grease fittings and oil seals imports into China stood at +1.6%. At the same time, Marshall Islands (+48.1%), the Philippines (+3.7%), Indonesia (+2.8%) and Bangladesh (+1.1%) displayed positive paces of growth. Moreover, Marshall Islands emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +48.1% from 2012-2021. Vietnam experienced a relatively flat trend pattern. By contrast, South Korea (-2.8%), Thailand (-3.6%), Japan (-4.6%), India (-5.1%), Hong Kong SAR (-7.6%), Malaysia (-8.3%) and Singapore (-15.7%) illustrated a downward trend over the same period. Marshall Islands (+14 p.p.), China (+9.2 p.p.) and Indonesia (+2 p.p.) significantly strengthened its position in terms of the total imports, while Japan, Hong Kong SAR, Malaysia and Singapore saw its share reduced by -1.8%, -2.3%, -2.8% and -14.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels in Asia-Pacific, comprising 31% of total imports. The second position in the ranking was taken by South Korea ($X), with a 13% share of total imports. It was followed by Marshall Islands, with a 10% share.

In China, grease fittings and oil seals imports increased at an average annual rate of +2.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: South Korea (-1.0% per year) and Marshall Islands (+35.0% per year).

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per unit, with a decrease of -8.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2020 an increase of 16% against the previous year. As a result, import price reached the peak level of $X per unit, and then reduced in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was South Korea ($X per unit), while Bangladesh ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+10.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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