China: 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 China

In 2021, the Chinese fuel or lubricating pump market decreased by -37.3% to $X for the first time since 2017, thus ending a three-year rising trend. Overall, consumption continues to indicate a abrupt setback. Fuel or lubricating pump consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines in China

In value terms, fuel or lubricating pump production reduced modestly to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a mild reduction. The most prominent rate of growth was recorded in 2019 when the production volume increased by 7.3% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

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

Exports from China

In 2021, overseas shipments of fuel, lubricating or cooling-medium pumps for internal combustion engines increased by 91% to X units, rising for the second consecutive year after two years of decline. Overall, exports posted prominent growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, fuel or lubricating pump exports surged to $X in 2021. Over the period under review, total exports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +10.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X units), Mexico (X units) and Hong Kong SAR (X units) were the main destinations of fuel or lubricating pump exports from China, together accounting for 30% of total exports.

From 2012 to 2021, the biggest increases were recorded for Hong Kong SAR (with a CAGR of +49.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for fuel, lubricating or cooling-medium pumps for internal combustion engines exports from China, comprising 21% of total exports. The second position in the ranking was held by Mexico ($X), with an 8.8% share of total exports. It was followed by Germany, with a 6.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at +7.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+18.8% per year) and Germany (+26.5% per year).

Export Prices by Country

The average fuel or lubricating pump export price stood at $X per unit in 2021, which is down by -8.6% against the previous year. Over the period under review, the export price showed a noticeable slump. The growth pace was the most rapid in 2015 when the average export price increased by 33% 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 failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Indonesia ($X per unit), while the average price for exports to Hong Kong SAR ($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 (+10.0%), 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 China

In 2021, supplies from abroad of fuel, lubricating or cooling-medium pumps for internal combustion engines decreased by -0.3% to X units, falling for the fourth year in a row after six years of growth. Overall, imports, however, enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2016 when imports increased by 76% against the previous year. Over the period under review, imports reached the peak figure at X units in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, fuel or lubricating pump imports expanded slightly to $X in 2021. Over the period under review, total imports indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +4.6% 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 +6.3% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of 23%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Germany (X units), Japan (X units) and South Korea (X units) were the main suppliers of fuel or lubricating pump imports to China, with a combined 68% share of total imports. These countries were followed by Thailand, Vietnam, the Czech Republic, Indonesia and the United States, which together accounted for a further 23%.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +154.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest fuel or lubricating pump suppliers to China were Japan ($X), Germany ($X) and the Czech Republic ($X), together accounting for 67% of total imports. These countries were followed by Thailand, South Korea, the United States, Vietnam and Indonesia, which together accounted for a further 14%.

In terms of the main suppliers, Indonesia, with a CAGR of +84.4%, 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

The average fuel or lubricating pump import price stood at $X per unit in 2021, increasing by 3.2% against the previous year. Overall, the import price, however, continues to indicate a slight contraction. The most prominent rate of growth was recorded in 2019 an increase of 55%. The import price peaked at $X per unit in 2014; however, from 2015 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 the United States ($X per unit), while the price for Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :