Eastern Europe: 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 Europe

The East European market for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels dropped to $X in 2021, reducing by -7.9% against the previous year. In general, consumption saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

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

In value terms, grease fittings and oil seals production declined to $X in 2021 estimated in export price. Overall, production saw a mild decline. The pace of growth appeared the most rapid in 2020 when the production volume increased by 34%. The level of production peaked at $X in 2014; however, from 2015 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 Europe

Grease fittings and oil seals exports surged to X units in 2021, with an increase of 32% compared with 2020. Over the period under review, exports enjoyed strong growth. The pace of growth was the most pronounced in 2020 when exports increased by 45%. The volume of export peaked in 2021 and is likely to see steady growth in years to come.

In value terms, grease fittings and oil seals exports rose sharply to $X in 2021. In general, exports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2018 when exports increased by 44%. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The Czech Republic was the key exporter of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels in Eastern Europe, with the volume of exports recording X units, which was approx. 49% of total exports in 2021. Poland (X units) took a 21% share (based on physical terms) of total exports, which put it in second place, followed by Hungary (11%) and Romania (7.5%). Bulgaria (X units), Estonia (X units) and Russia (X units) took a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to grease fittings and oil seals exports from the Czech Republic stood at +17.6%. At the same time, Estonia (+44.5%), Russia (+30.3%), Bulgaria (+20.8%), Poland (+10.2%), Romania (+9.6%) and Hungary (+8.6%) displayed positive paces of growth. Moreover, Estonia emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +44.5% from 2012-2021. The Czech Republic (+12 p.p.), Estonia (+2.8 p.p.) and Russia (+1.7 p.p.) significantly strengthened its position in terms of the total exports, while Romania, Hungary and Poland saw its share reduced by -3.1%, -5.7% and -7.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest grease fittings and oil seals supplying countries in Eastern Europe were the Czech Republic ($X), Hungary ($X) and Poland ($X), with a combined 81% share of total exports. Romania, Russia, Estonia and Bulgaria lagged somewhat behind, together accounting for a further 15%.

Estonia, with a CAGR of +26.4%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Eastern Europe amounted to $X per unit, with a decrease of -17.7% against the previous year. In general, the export price continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2018 an increase of 33%. Over the period under review, the export prices attained the peak figure at $X per unit in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Hungary ($X per unit), while Bulgaria ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hungary (+0.0%), while the other leaders experienced a decline in the export price figures.

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

Imports in Eastern Europe

In 2021, approx. X units of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels were imported in Eastern Europe; picking up by 63% compared with the previous year's figure. In general, imports saw strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, grease fittings and oil seals imports expanded significantly to $X in 2021. Total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 when imports increased by 29%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the near future.

Imports by Country

The purchases of the three major importers of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels, namely the Czech Republic, Poland and Hungary, represented more than two-thirds of total import. Romania (X units) held the next position in the ranking, followed by Slovakia (X units). All these countries together took near 17% share of total imports. The following importers - Russia (X units) and Bulgaria (X units) - together made up 5.6% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Russia (with a CAGR of +19.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), the Czech Republic ($X) and Hungary ($X) constituted the countries with the highest levels of imports in 2021, with a combined 59% share of total imports. These countries were followed by Romania, Russia, Slovakia and Bulgaria, which together accounted for a further 34%.

Bulgaria, with a CAGR of +11.4%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Europe stood at $X per unit in 2021, falling by -30.7% against the previous year. Over the period under review, the import price showed a abrupt setback. The most prominent rate of growth was recorded in 2016 an increase of 29% against the previous year. The level of import peaked at $X per unit in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Russia ($X per unit), while the Czech Republic ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovakia (+3.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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