Canada: 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 Canada

In 2021, after three years of growth, there was decline in the Canadian market for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels, when its value decreased by -4% to $X. Overall, consumption saw a relatively flat trend pattern. Grease fittings and oil seals consumption peaked at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

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

In value terms, grease fittings and oil seals production declined slightly to $X in 2021 estimated in export price. In general, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 27% against the previous year. Grease fittings and oil seals production peaked at $X in 2016; however, from 2017 to 2021, production stood at a somewhat lower figure.

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

Exports from Canada

In 2021, after two years of decline, there was significant growth in overseas shipments of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels, when their volume increased by 68% to X units. Over the period under review, exports, however, showed a pronounced curtailment. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, grease fittings and oil seals exports surged to $X in 2021. Overall, exports, however, saw a slight slump. 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 Canada, with a approx. 95% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at -2.5%.

In value terms, the United States ($X) also remains the key foreign market for grease fittings and oil seals exports from Canada.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +1.0%.

Export Prices by Country

The average export price for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels stood at $X per unit in 2021, shrinking by -15.2% against the previous year. Overall, export price indicated a tangible increase from 2012 to 2021: its price increased at an average annual rate of +2.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when the average export price increased by 54%. The export price peaked at $X per unit in 2020, and then plummeted in the following year.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2021, the rate of growth in terms of prices for the United States amounted to +3.6% per year.

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

Imports into Canada

In 2021, after two years of decline, there was significant growth in overseas purchases of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels, when their volume increased by 35% to X units. Overall, total imports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of 40% against the previous year. Over the period under review, imports hit record highs at X units in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, grease fittings and oil seals imports surged to $X in 2021. The total import value increased at an average annual rate of +4.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United States (X units) constituted the largest supplier of grease fittings and oil seals to Canada, with a 57% share of total imports. Moreover, grease fittings and oil seals imports from the United States exceeded the figures recorded by the second-largest supplier, Germany (X units), sevenfold. The third position in this ranking was taken by Japan (X units), with a 7.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States stood at +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+14.9% per year) and Japan (+10.6% per year).

In value terms, the United States ($X) constituted the largest supplier of grease fittings and oil seals to Canada, comprising 57% of total imports. The second position in the ranking was taken by Germany ($X), with an 8.7% share of total imports. It was followed by Japan, with a 7.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled +1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+13.4% per year) and Japan (+9.1% per year).

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, declining by -7% against the previous year. Overall, the import price continues to indicate a slight downturn. The pace of growth appeared the most rapid in 2019 when the average import price increased by 21% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, the highest price was recorded for prices from Mexico ($X per unit) and the United States ($X per unit), while the price for Italy ($X per unit) and the UK ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (-1.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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