China: 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 China

In 2021, the Chinese market for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels increased by 66% to $X for the first time since 2018, thus ending a two-year declining trend. Overall, the total consumption indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +7.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

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

In value terms, grease fittings and oil seals production fell to $X in 2021 estimated in export price. Over the period under review, the total production indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +7.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +94.3% against 2012 indices. The pace of growth was the most pronounced in 2020 with an increase of 41%. As a result, production attained the peak level of $X, and then reduced in the following year.

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

Exports from China

In 2021, the amount of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels exported from China soared to X units, rising by 23% against the previous year. Overall, exports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2020 when exports increased by 125% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, grease fittings and oil seals exports reduced remarkably to $X in 2021. Over the period under review, exports recorded strong growth. The most prominent rate of growth was recorded in 2015 when exports increased by 61% against the previous year. Over the period under review, the exports hit record highs at $X in 2020, and then fell significantly in the following year.

Exports by Country

Panama (X units), Liberia (X units) and Hong Kong SAR (X units) were the main destinations of grease fittings and oil seals exports from China, with a combined 64% share of total exports. Singapore, Marshall Islands, South Korea, Malta and Japan lagged somewhat behind, together comprising a further 23%.

From 2012 to 2021, the biggest increases were in Marshall Islands (with a CAGR of +27.6%), 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 China were Panama ($X), Liberia ($X) and Marshall Islands ($X), together accounting for 46% of total exports.

In terms of the main countries of destination, Marshall Islands, with a CAGR of +35.6%, recorded the highest growth rate of the value of exports, 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 export price for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels amounted to $X per unit, dropping by -38% against the previous year. Overall, the export price showed a deep downturn. The pace of growth appeared the most rapid in 2019 when the average export price increased by 41%. As a result, the export price reached the peak level of $X per unit. From 2020 to 2021, the the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Japan ($X per unit), while the average price for exports to Panama ($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 Marshall Islands (+6.3%), while the prices for the other major destinations experienced a decline.

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

Imports into China

After two years of decline, overseas purchases of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels increased by 36% to X units in 2021. In general, imports recorded mild growth. The growth pace was the most rapid in 2017 when imports increased by 58%. Over the period under review, imports hit record highs at X units in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, grease fittings and oil seals imports expanded to $X in 2021. Overall, imports recorded a perceptible expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 44%. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Japan (X units), Taiwan (Chinese) (X units) and Germany (X units) were the main suppliers of grease fittings and oil seals imports to China, with a combined 59% share of total imports. These countries were followed by South Korea, the United States, Italy and Romania, which together accounted for a further 24%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +12.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Germany ($X) and the United States ($X) were the largest grease fittings and oil seals suppliers to China, together comprising 52% of total imports. These countries were followed by South Korea, Taiwan (Chinese), Italy and Romania, which together accounted for a further 25%.

Romania, with a CAGR of +12.6%, saw 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

In 2021, the average import price for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels amounted to $X per unit, which is down by -24% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the average import price increased by 60% against the previous year. As a result, import price attained the peak level of $X per unit, and then fell dramatically 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 the United States ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+4.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :