Eastern Asia: Oil Dispensing Pump Market 2024

Oil Dispensing Pump Market Size in Eastern Asia

The East Asian oil dispensing pump market contracted to $X in 2021, falling by -9.4% against the previous year. In general, consumption showed a slight reduction. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Oil Dispensing Pump Production in Eastern Asia

In value terms, oil dispensing pump production shrank modestly to $X in 2021 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the production volume increased by 34%. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Oil Dispensing Pump Exports

Exports in Eastern Asia

In 2021, shipments abroad of petrol and oil dispensing pumps increased by 27% to X units, rising for the sixth consecutive year after two years of decline. In general, exports saw a prominent expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 40%. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in the near future.

In value terms, oil dispensing pump exports soared to $X in 2021. The total export value increased at an average annual rate of +2.0% over the period 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 2013 when exports increased by 30% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

China dominates exports structure, accounting for X units, which was approx. 95% of total exports in 2021. Japan (X units) held a minor share of total exports.

China was also the fastest-growing in terms of the petrol and oil dispensing pumps exports, with a CAGR of +14.9% from 2012 to 2021. At the same time, Japan (+4.1%) displayed positive paces of growth. While the share of China (+4.4 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Japan (-4 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest oil dispensing pump supplier in Eastern Asia, comprising 74% of total exports. The second position in the ranking was taken by Japan ($X), with a 19% share of total exports.

From 2012 to 2021, the average annual growth rate of value in China stood at +3.8%.

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2021, declining by -7.5% against the previous year. In general, the export price showed a deep setback. The growth pace was the most rapid in 2013 when the export price increased by 3.1% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Japan ($X per unit), while China amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (-7.3%).

Oil Dispensing Pump Imports

Imports in Eastern Asia

In 2021, imports of petrol and oil dispensing pumps in Eastern Asia skyrocketed to X units, with an increase of 17% on the previous year's figure. Over the period under review, imports posted a prominent expansion. The growth pace was the most rapid in 2014 with an increase of 126% against the previous year. The volume of import peaked in 2021 and is likely to see gradual growth in years to come.

In value terms, oil dispensing pump imports rose notably to $X in 2021. Overall, imports enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2014 with an increase of 126% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

The countries with the highest levels of oil dispensing pump imports in 2021 were Taiwan (Chinese) (X units), South Korea (X units), Hong Kong SAR (X units) and Japan (X units), together reaching 94% of total import. It was distantly followed by China (X units), committing a 5.2% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Hong Kong SAR (with a CAGR of +43.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X) constitutes the largest market for imported petrol and oil dispensing pumps in Eastern Asia, comprising 46% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 22% share of total imports. It was followed by Japan, with a 15% share.

From 2012 to 2021, the average annual growth rate of value in South Korea amounted to +23.4%. The remaining importing countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+8.8% per year) and Japan (+13.5% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2021, reducing by -3.4% against the previous year. In general, the import price recorded a mild setback. The pace of growth was the most pronounced in 2015 when the import price increased by 31% against the previous year. As a result, import price reached the peak level of $X per unit. From 2016 to 2021, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was South Korea ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+7.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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