Belgium: Oil Dispensing Pump Market 2024

Oil Dispensing Pump Market Size in Belgium

In 2021, the Belgian oil dispensing pump market decreased by -0.1% to $X, falling for the fourth year in a row after four years of growth. Overall, consumption, however, saw a strong increase. Oil dispensing pump consumption peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Oil Dispensing Pump Production in Belgium

In value terms, oil dispensing pump production expanded to $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 9.7%. As a result, production attained the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Oil Dispensing Pump Exports

Exports from Belgium

In 2021, approx. X units of petrol and oil dispensing pumps were exported from Belgium; picking up by 57% compared with the previous year. In general, exports saw a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 226% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, oil dispensing pump exports expanded slightly to $X in 2021. Overall, exports continue to indicate measured growth. The growth pace was the most rapid in 2020 when exports increased by 165% against the previous year. The exports peaked in 2021 and are likely to see steady growth in years to come.

Exports by Country

New Zealand (X units), Germany (X units) and France (X units) were the main destinations of oil dispensing pump exports from Belgium, together comprising 55% of total exports. Luxembourg, the Netherlands, Cameroon, Benin, Croatia, Turkey, Italy, Latvia and Spain lagged somewhat behind, together comprising a further 36%.

From 2012 to 2021, the biggest increases were recorded for Benin (with a CAGR of +97,600.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for petrol and oil dispensing pumps exports from Belgium, comprising 59% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 5.9% share of total exports. It was followed by France, with a 5.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany stood at +7.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+7.4% per year) and France (-2.7% per year).

Export Prices by Country

The average oil dispensing pump export price stood at $X per unit in 2021, reducing by -34.1% against the previous year. Over the period under review, the export price recorded a deep reduction. The most prominent rate of growth was recorded in 2019 an increase of 27% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Germany ($X per unit), while the average price for exports to New Zealand ($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 Turkey (-1.9%), while the prices for the other major destinations experienced a decline.

Oil Dispensing Pump Imports

Imports into Belgium

In 2021, purchases abroad of petrol and oil dispensing pumps decreased by -17.2% to X units, falling for the fourth consecutive year after six years of growth. Overall, imports, however, recorded significant growth. The growth pace was the most rapid in 2014 with an increase of 228% against the previous year. Over the period under review, imports reached the maximum at X units in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, oil dispensing pump imports stood at $X in 2021. Over the period under review, imports, however, saw a significant expansion. The pace of growth appeared the most rapid in 2014 when imports increased by 111%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

Germany (X units), the Czech Republic (X units) and Hungary (X units) were the main suppliers of oil dispensing pump imports to Belgium, together accounting for 47% of total imports.

From 2012 to 2021, the biggest increases were recorded for Hungary (with a CAGR of +508.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest oil dispensing pump suppliers to Belgium were Germany ($X), Hungary ($X) and Romania ($X), together accounting for 55% of total imports.

In terms of the main suppliers, Hungary, with a CAGR of +692.2%, recorded 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

In 2021, the average oil dispensing pump import price amounted to $X per unit, increasing by 38% against the previous year. Overall, the import price, however, continues to indicate a mild decline. The most prominent rate of growth was recorded in 2020 an increase of 56% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+89.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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