China: Oil Dispensing Pump Market 2024

Oil Dispensing Pump Market Size in China

The Chinese oil dispensing pump market fell to $X in 2021, dropping by -14.3% against the previous year. The market value increased at an average annual rate of +2.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Oil Dispensing Pump Production in China

In value terms, oil dispensing pump production contracted modestly to $X in 2021 estimated in export price. Over the period under review, the total production indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +6.2% 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 +72.3% against 2012 indices. The growth pace was the most rapid in 2013 when the production volume increased by 20% against the previous year. Oil dispensing pump production peaked at $X in 2020, and then fell slightly in the following year.

Oil Dispensing Pump Exports

Exports from China

In 2021, overseas shipments of petrol and oil dispensing pumps increased by 25% to X units, rising for the sixth year in a row after two years of decline. Over the period under review, exports saw a prominent expansion. The pace of growth appeared the most rapid in 2019 with an increase of 41% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to see gradual growth in years to come.

In value terms, oil dispensing pump exports surged to $X in 2021. The total export value increased at an average annual rate of +3.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 with an increase of 28% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in years to come.

Exports by Country

The United States (X units) was the main destination for oil dispensing pump exports from China, with a 23% share of total exports. Moreover, oil dispensing pump exports to the United States exceeded the volume sent to the second major destination, the United Arab Emirates (X units), threefold. The third position in this ranking was taken by Brazil (X units), with a 4.9% share.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled +41.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+12.4% per year) and Brazil (+56.8% per year).

In value terms, the Philippines ($X) emerged as the key foreign market for petrol and oil dispensing pumps exports from China, comprising 13% of total exports. The second position in the ranking was held by Nigeria ($X), with a 6.4% share of total exports. It was followed by Indonesia, with a 4.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the Philippines amounted to +14.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (-9.6% per year) and Indonesia (+8.5% per year).

Export Prices by Country

In 2021, the average oil dispensing pump export price amounted to $X per unit, reducing by -6.6% against the previous year. In general, the export price continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2015 a decrease of -1.3% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was the Philippines ($X per unit), while the average price for exports to the UK ($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 the United Arab Emirates (-4.7%), while the prices for the other major destinations experienced a decline.

Oil Dispensing Pump Imports

Imports into China

In 2021, approx. X units of petrol and oil dispensing pumps were imported into China; increasing by 20% against the year before. Over the period under review, imports, however, faced a abrupt downturn. The pace of growth was the most pronounced in 2019 with an increase of 45%. Imports peaked at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, oil dispensing pump imports dropped remarkably to $X in 2021. In general, imports, however, showed a deep contraction. The most prominent rate of growth was recorded in 2019 with an increase of 68%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Italy (X units), the United Arab Emirates (X units) and Germany (X units) were the main suppliers of oil dispensing pump imports to China, together accounting for 79% of total imports.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +156.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Austria ($X), Germany ($X) and the United Arab Emirates ($X) constituted the largest oil dispensing pump suppliers to China, with a combined 69% share of total imports.

The United Arab Emirates, with a CAGR of +172.9%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average oil dispensing pump import price stood at $X per unit in 2021, waning by -36.9% against the previous year. In general, import price indicated slight growth from 2012 to 2021: its price increased at an average annual rate of +1.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 an increase of 58% against the previous year. As a result, import price reached the peak level of $X per unit. From 2015 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+43.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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