Eastern Asia: 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 Eastern Asia

In 2021, the East Asian market for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels increased by 16% to $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +1.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

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

In value terms, grease fittings and oil seals production dropped modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 25%. The level of production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

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

Exports in Eastern Asia

In 2021, the amount of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels exported in Eastern Asia surged to X units, jumping by 23% on the previous year's figure. Overall, exports enjoyed a buoyant increase. The growth pace was the most rapid in 2020 with an increase of 111% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to see gradual growth in the near future.

In value terms, grease fittings and oil seals exports declined to $X in 2021. Total exports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +98.1% against 2013 indices. The growth pace was the most rapid in 2020 when exports increased by 24%. As a result, the exports attained the peak of $X, and then fell in the following year.

Exports by Country

The shipments of the one major exporters of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels, namely China, represented more than two-thirds of total export.

China was also the fastest-growing in terms of the non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels exports, with a CAGR of +19.0% from 2012 to 2021. China (+11 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest grease fittings and oil seals supplier in Eastern Asia.

In China, grease fittings and oil seals exports increased at an average annual rate of +12.8% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per unit, declining by -24.3% against the previous year. In general, the export price recorded a abrupt decline. The growth pace was the most rapid in 2016 when the export price increased by 18%. Over the period under review, the export prices attained the maximum at $X per unit in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for China amounted to -5.2% per year.

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

Imports in Eastern Asia

In 2021, overseas purchases of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels were finally on the rise to reach X units after two years of decline. Overall, imports, however, showed a noticeable curtailment. The most prominent rate of growth was recorded in 2014 when imports increased by 35%. Over the period under review, imports attained the peak figure 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 rose sharply to $X in 2021. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by 30%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

China represented the key importing country with an import of about X units, which resulted at 59% of total imports. Japan (X units) took a 16% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (15%) and Hong Kong SAR (7.3%). Taiwan (Chinese) (X units) took a relatively small share of total imports.

China was also the fastest-growing in terms of the non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels imports, with a CAGR of +1.6% from 2012 to 2021. South Korea (-2.8%), Japan (-4.6%), Hong Kong SAR (-7.6%) and Taiwan (Chinese) (-13.8%) illustrated a downward trend over the same period. While the share of China (+17 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Japan (-4.4 p.p.), Hong Kong SAR (-5 p.p.) and Taiwan (Chinese) (-6.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels in Eastern Asia, comprising 52% of total imports. The second position in the ranking was held by South Korea ($X), with a 22% share of total imports. It was followed by Japan, with a 15% share.

In China, grease fittings and oil seals imports increased at an average annual rate of +2.0% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (-1.0% per year) and Japan (-3.6% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per unit, which is down by -12.4% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.9%. The pace of growth appeared the most rapid in 2020 an increase of 42% against the previous year. As a result, import price reached the peak level of $X per unit, and then reduced in the following year.

Prices varied noticeably country of destination: the country with the highest price was Taiwan (Chinese) ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+14.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :