Chile: 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 Chile

The Chilean market for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels skyrocketed to $X in 2021, growing by 78% 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). In general, the total consumption indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +79.9% against 2019 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

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

Exports from Chile

In 2021, the amount of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels exported from Chile contracted sharply to X units, declining by -22.5% on the year before. In general, exports saw a perceptible decline. The growth pace was the most rapid in 2019 with an increase of 213% against the previous year. The exports peaked at X units in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, grease fittings and oil seals exports rose rapidly to $X in 2021. Overall, exports, however, enjoyed a tangible expansion. The pace of growth appeared the most rapid in 2015 with an increase of 210%. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Colombia (X units), the United States (X units) and Peru (X units) were the main destinations of grease fittings and oil seals exports from Chile, with a combined 79% share of total exports. Russia, Bolivia and Germany lagged somewhat behind, together comprising a further 13%.

From 2012 to 2021, the biggest increases were in Russia (with a CAGR of +165.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for grease fittings and oil seals exported from Chile were the United States ($X), Peru ($X) and Colombia ($X), with a combined 73% share of total exports. These countries were followed by Bolivia, Germany and Russia, which together accounted for a further 14%.

Russia, with a CAGR of +163.1%, saw the highest growth rate of 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

The average export price for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels stood at $X per unit in 2021, increasing by 42% against the previous year. Over the period under review, export price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 an increase of 127% against the previous year. Over the period under review, the average export prices attained the peak figure in 2021 and is likely to see steady growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Bolivia ($X per unit), while the average price for exports to Russia ($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 Germany (+17.1%), 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 Chile

In 2021, supplies from abroad of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels was finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Overall, imports recorded a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, grease fittings and oil seals imports surged to $X in 2021. Over the period under review, total imports indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +63.2% against 2019 indices. 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 grease fittings and oil seals supplier to Chile, accounting for a 25% share of total imports. Moreover, grease fittings and oil seals imports from the United States exceeded the figures recorded by the second-largest supplier, China (X units), fivefold. Germany (X units) ranked third in terms of total imports with a 4.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States totaled +4.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+15.6% per year) and Germany (-16.2% per year).

In value terms, the United States ($X) constituted the largest supplier of grease fittings and oil seals to Chile, comprising 57% of total imports. The second position in the ranking was taken by Germany ($X), with a 6.9% share of total imports. It was followed by China, with a 3.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States stood at +11.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-7.4% per year) and China (+20.4% per year).

Import Prices by Country

In 2021, the average import price for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels amounted to $X per unit, with a decrease of -28.1% against the previous year. Overall, the import price continues to indicate a mild shrinkage. The growth pace was the most rapid in 2019 an increase of 26%. Over the period under review, average import prices attained the peak figure at $X per unit in 2020, and then shrank notably in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+10.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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