Australia: 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

The Australian market for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels fell to $X in 2021, waning by -2.2% against the previous year. The market value increased at an average annual rate of +3.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

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

In value terms, grease fittings and oil seals production reduced modestly to $X in 2021 estimated in export price. Over the period under review, the total production indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine years. 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 appeared the most rapid in 2018 when the production volume increased by 50%. 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 from Australia

In 2021, overseas shipments of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels were finally on the rise to reach X units for the first time since 2016, thus ending a four-year declining trend. Overall, exports, however, saw a abrupt decline. The exports peaked at X units in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, grease fittings and oil seals exports soared to $X in 2021. Over the period under review, exports, however, continue to indicate a deep setback. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for grease fittings and oil seals exports from Australia, with a 29% share of total exports. Moreover, grease fittings and oil seals exports to the United States exceeded the volume sent to the second major destination, Papua New Guinea (X units), twofold. Egypt (X units) ranked third in terms of total exports with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at -1.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Papua New Guinea (-27.5% per year) and Egypt (+65.2% per year).

In value terms, the United States ($X) remains the key foreign market for grease fittings and oil seals exports from Australia, comprising 29% of total exports. The second position in the ranking was held by Papua New Guinea ($X), with a 12% share of total exports. It was followed by Egypt, with a 10% share.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +12.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Papua New Guinea (-12.0% per year) and Egypt (+54.1% per year).

Export Prices by Country

In 2021, the average export price for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels amounted to $X per unit, increasing by 1.7% against the previous year. In general, the export price saw strong growth. The growth pace was the most rapid in 2018 an increase of 69% against the previous year. The export price peaked in 2021 and is expected to retain growth in the immediate term.

Average prices varied noticeably for the major foreign markets. In 2021, the highest price was recorded for prices to Germany ($X per unit) and the United Arab Emirates ($X per unit), while the average price for exports to Finland ($X per unit) and the United States ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Papua New Guinea (+21.4%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into Australia

In 2021, grease fittings and oil seals imports into Australia rose remarkably to X units, surging by 9.8% on the previous year's figure. In general, imports, however, recorded a abrupt contraction. The growth pace was the most rapid in 2019 with an increase of 90%. Over the period under review, imports attained the maximum at X units in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, grease fittings and oil seals imports expanded sharply to $X in 2021. Overall, imports, however, showed a deep downturn. The most prominent rate of growth was recorded in 2019 with an increase of 109%. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

The United States (X units), Germany (X units) and Mexico (X units) were the main suppliers of grease fittings and oil seals imports to Australia, with a combined 53% share of total imports. These countries were followed by China, Taiwan (Chinese), Japan, the UK, Italy, Singapore, Denmark, France, India and Sweden, which together accounted for a further 37%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Denmark (with a CAGR of +28.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest grease fittings and oil seals suppliers to Australia were the United States ($X), Germany ($X) and Mexico ($X), together comprising 53% of total imports. These countries were followed by China, Taiwan (Chinese), Japan, the UK, Italy, Singapore, Denmark, France, India and Sweden, which together accounted for a further 37%.

In terms of the main suppliers, Denmark, with a CAGR of +29.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels stood at $X per unit in 2021, therefore, remained relatively stable against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.6%. The growth pace was the most rapid in 2018 when the average import price increased by 13% against the previous year. The import price peaked at $X per unit in 2020, and then contracted slightly in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were Sweden ($X per unit) and Japan ($X per unit), while the price for Singapore ($X per unit) and Italy ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+25.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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