Asia-Pacific: Oil Dispensing Pump Market 2024

Oil Dispensing Pump Market Size in Asia-Pacific

The Asia-Pacific oil dispensing pump market reduced to $X in 2021, declining by -5.6% against the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Oil Dispensing Pump Production in Asia-Pacific

In value terms, oil dispensing pump production shrank slightly to $X in 2021 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 35%. As a result, production attained the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Oil Dispensing Pump Exports

Exports in Asia-Pacific

For the third consecutive year, Asia-Pacific recorded growth in shipments abroad of petrol and oil dispensing pumps, which increased by 45% to X units in 2021. In general, exports continue to indicate a strong expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, oil dispensing pump exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +2.0% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

India was the major exporting country with an export of about X units, which recorded 72% of total exports. It was distantly followed by China (X units), making up a 23% share of total exports. Australia (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to oil dispensing pump exports from India stood at +12.5%. At the same time, Australia (+27.5%) and China (+14.9%) displayed positive paces of growth. Moreover, Australia emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +27.5% from 2012-2021. From 2012 to 2021, the share of China and Australia increased by +2.9 and +2.3 percentage points, respectively.

In value terms, China ($X) remains the largest oil dispensing pump supplier in Asia-Pacific, comprising 52% of total exports. The second position in the ranking was taken by India ($X), with a 17% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in China totaled +3.8%. In the other countries, the average annual rates were as follows: India (+8.9% per year) and Australia (+5.1% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2021, waning by -13.5% against the previous year. Over the period under review, the export price recorded a abrupt contraction. The pace of growth appeared the most rapid in 2018 an increase of 16%. The level of export peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (-3.3%), while the other leaders experienced a decline in the export price figures.

Oil Dispensing Pump Imports

Imports in Asia-Pacific

In 2021, approx. X units of petrol and oil dispensing pumps were imported in Asia-Pacific; falling by -35.2% on the previous year. Over the period under review, imports, however, continue to indicate a buoyant expansion. The growth pace was the most rapid in 2020 with an increase of 92% against the previous year. As a result, imports reached the peak of X units, and then shrank remarkably in the following year.

In value terms, oil dispensing pump imports surged to $X in 2021. The total import value increased at an average annual rate of +2.1% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2013 with an increase of 32% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

India was the key importing country with an import of around X units, which amounted to 51% of total imports. Indonesia (X units) held the second position in the ranking, distantly followed by Malaysia (X units) and Singapore (X units). All these countries together held near 27% share of total imports. The following importers - Australia (X units), Taiwan (Chinese) (X units), Vietnam (X units), the Philippines (X units), South Korea (X units) and Thailand (X units) - together made up 15% of total imports.

India was also the fastest-growing in terms of the petrol and oil dispensing pumps imports, with a CAGR of +16.1% from 2012 to 2021. At the same time, South Korea (+15.0%), Singapore (+14.6%), Australia (+12.8%), the Philippines (+12.0%), Malaysia (+11.4%), Taiwan (Chinese) (+10.4%), Indonesia (+8.3%) and Vietnam (+6.4%) displayed positive paces of growth. By contrast, Thailand (-16.7%) illustrated a downward trend over the same period. While the share of India (+22 p.p.) and Singapore (+1.7 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Thailand (-19.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X), Indonesia ($X) and Malaysia ($X) were the countries with the highest levels of imports in 2021, together comprising 45% of total imports. India, South Korea, the Philippines, Singapore, Thailand, Vietnam and Taiwan (Chinese) lagged somewhat behind, together comprising a further 34%.

South Korea, with a CAGR of +23.4%, 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 Asia-Pacific amounted to $X per unit, surging by 92% against the previous year. Overall, the import price, however, saw a deep slump. Over the period under review, import prices reached the maximum at $X per unit in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Australia ($X per unit), while India ($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

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