Bangladesh: Market for Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines 2024

Market Size for Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines in Bangladesh

The Bangladeshi fuel or lubricating pump market soared to $X in 2021, rising by 66% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded a prominent increase. Over the period under review, the market hit record highs in 2021 and is likely to continue growth in the near future.

Exports of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines

Exports from Bangladesh

Fuel or lubricating pump exports from Bangladesh contracted sharply to X units in 2021, declining by -73.6% against 2020. In general, exports, however, recorded a temperate increase. The most prominent rate of growth was recorded in 2013 when exports increased by 722%. As a result, the exports reached the peak of X units. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, fuel or lubricating pump exports contracted notably to $X in 2021. Over the period under review, exports, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2013 with an increase of 896%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

South Korea (X units) was the main destination for fuel or lubricating pump exports from Bangladesh, with a 19% share of total exports. Moreover, fuel or lubricating pump exports to South Korea exceeded the volume sent to the second major destination, Indonesia (X units), twofold. The United Arab Emirates (X units) ranked third in terms of total exports with a 4.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to South Korea totaled +13.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+235.6% per year) and the United Arab Emirates (+69.4% per year).

In value terms, Poland ($X), South Korea ($X) and Greece ($X) were the largest markets for fuel or lubricating pump exported from Bangladesh worldwide, together comprising 43% of total exports. These countries were followed by Indonesia, the United Arab Emirates, Thailand and Sweden, which together accounted for a further 9.1%.

Indonesia, with a CAGR of +215.0%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average fuel or lubricating pump export price amounted to $X per unit, increasing by 174% against the previous year. Over the period under review, the export price saw a strong increase. The most prominent rate of growth was recorded in 2015 an increase of 212% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2016 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Poland ($X per unit), while the average price for exports to Sweden ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+104.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines

Imports into Bangladesh

For the fourth year in a row, Bangladesh recorded growth in supplies from abroad of fuel, lubricating or cooling-medium pumps for internal combustion engines, which increased by 58% to X units in 2021. Overall, imports enjoyed prominent growth. The most prominent rate of growth was recorded in 2015 when imports increased by 68%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, fuel or lubricating pump imports skyrocketed to $X in 2021. Over the period under review, imports continue to indicate a resilient expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

India (X units), China (X units) and Taiwan (Chinese) (X units) were the main suppliers of fuel or lubricating pump imports to Bangladesh, with a combined 86% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Taiwan (Chinese) (with a CAGR of +34.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest fuel or lubricating pump suppliers to Bangladesh were India ($X), China ($X) and Taiwan (Chinese) ($X), together accounting for 46% of total imports.

Taiwan (Chinese), with a CAGR of +34.7%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average fuel or lubricating pump import price stood at $X per unit in 2021, with an increase of 29% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 33%. As a result, import price attained the peak level of $X per unit. From 2019 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+0.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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