Australia and Oceania: 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 Australia and Oceania

In 2021, the market for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels in Australia and Oceania decreased by -0.8% to $X for the first time since 2017, thus ending a three-year rising trend. The total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020, and then dropped in the following year.

Production of Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels in Australia and Oceania

In value terms, grease fittings and oil seals production contracted slightly to $X in 2021 estimated in export price. The total production indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -11.0% against 2018 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by 50% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

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

Exports in Australia and Oceania

In 2021, shipments abroad of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels increased by 143% to X units for the first time since 2016, thus ending a four-year declining trend. Over the period under review, exports, however, continue to indicate a abrupt shrinkage. The volume of export peaked at X units in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, grease fittings and oil seals exports surged to $X in 2021. In general, exports, however, recorded a abrupt slump. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Australia dominates exports structure, reaching X units, which was approx. 94% of total exports in 2021. It was distantly followed by New Zealand (X units), generating a 4.9% share of total exports.

Exports from Australia decreased at an average annual rate of -18.1% from 2012 to 2021. New Zealand (-10.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of New Zealand increased by +2.7 percentage points.

In value terms, Australia ($X) remains the largest grease fittings and oil seals supplier in Australia and Oceania, comprising 95% of total exports. The second position in the ranking was taken by New Zealand ($X), with a 4.9% share of total exports.

In Australia, grease fittings and oil seals exports contracted by an average annual rate of -9.7% over the period from 2012-2021.

Export Prices by Country

The export price in Australia and Oceania stood at $X per unit in 2021, surging by 3% against the previous year. Over the period under review, the export price recorded a strong increase. The most prominent rate of growth was recorded in 2018 when the export price increased by 66%. Over the period under review, the export prices reached the maximum in 2021 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was New Zealand ($X per unit), while Australia amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+10.2%).

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

Imports in Australia and Oceania

For the third year in a row, Australia and Oceania recorded growth in supplies from abroad of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels, which increased by 11% to X units in 2021. In general, imports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2019 with an increase of 150% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to see gradual growth in the near future.

In value terms, grease fittings and oil seals imports rose modestly to $X in 2021. Over the period under review, imports posted a strong expansion. The pace of growth was the most pronounced in 2019 when imports increased by 121% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Marshall Islands dominates imports structure, resulting at X units, which was near 84% of total imports in 2021. It was distantly followed by Australia (X units), constituting a 9% share of total imports. Papua New Guinea (X units) held a little share of total imports.

Marshall Islands was also the fastest-growing in terms of the non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels imports, with a CAGR of +48.1% from 2012 to 2021. Papua New Guinea (-7.9%) and Australia (-11.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Marshall Islands increased by +78 percentage points.

In value terms, Marshall Islands ($X) constitutes the largest market for imported non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels in Australia and Oceania, comprising 76% of total imports. The second position in the ranking was taken by Australia ($X), with a 17% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in Marshall Islands totaled +35.0%. In the other countries, the average annual rates were as follows: Australia (-9.2% per year) and Papua New Guinea (-1.4% per year).

Import Prices by Country

In 2021, the import price in Australia and Oceania amounted to $X per unit, falling by -8.1% against the previous year. Over the period under review, the import price recorded a pronounced decrease. The growth pace was the most rapid in 2016 when the import price increased by 8.8% against the previous year. As a result, import price attained the peak level of $X per unit. From 2017 to 2021, the import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Papua New Guinea (+7.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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