EU: 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 the EU

In 2021, the EU market for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels increased by 10% to $X, rising for the second year in a row after two years of decline. The total consumption indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +95.3% against 2019 indices. The level of consumption peaked in 2021 and is likely to see gradual growth in the near future.

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

In value terms, grease fittings and oil seals production shrank to $X in 2021 estimated in export price. In general, production, however, showed a slight curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 33%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

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

Exports in the EU

In 2021, the amount of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels exported in the European Union surged to X units, with an increase of 29% compared with the year before. Total exports indicated a strong increase from 2012 to 2021: its volume 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 +69.9% against 2019 indices. The pace of growth appeared the most rapid in 2020 when exports increased by 32%. The volume of export peaked in 2021 and is expected to retain growth in years to come.

In value terms, grease fittings and oil seals exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +3.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 with an increase of 23% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

Exports by Country

Germany represented the main exporting country with an export of around X units, which accounted for 48% of total exports. The Czech Republic (X units) ranks second in terms of the total exports with a 10% share, followed by Spain (9.7%) and France (5.5%). Poland (X units), Italy (X units), Austria (X units), the Netherlands (X units), Hungary (X units), Denmark (X units) and Romania (X units) followed a long way behind the leaders.

Exports from Germany increased at an average annual rate of +9.6% from 2012 to 2021. At the same time, Spain (+23.9%), Austria (+19.4%), the Czech Republic (+17.6%), the Netherlands (+13.3%), Poland (+10.2%), Romania (+9.6%), Hungary (+8.6%) and Italy (+1.5%) displayed positive paces of growth. Moreover, Spain emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +23.9% from 2012-2021. By contrast, Denmark (-6.2%) and France (-9.1%) illustrated a downward trend over the same period. Germany (+8.6 p.p.), Spain (+7 p.p.), the Czech Republic (+5.7 p.p.) and Austria (+1.9 p.p.) significantly strengthened its position in terms of the total exports, while Italy, Denmark and France saw its share reduced by -2.5%, -3.9% and -18.8% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) remains the largest grease fittings and oil seals supplier in the European Union, comprising 47% of total exports. The second position in the ranking was held by Italy ($X), with a 9.9% share of total exports. It was followed by the Netherlands, with an 8.5% share.

In Germany, grease fittings and oil seals exports increased at an average annual rate of +4.6% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Italy (+3.5% per year) and the Netherlands (+8.9% per year).

Export Prices by Country

The export price in the European Union stood at $X per unit in 2021, dropping by -9% against the previous year. In general, the export price continues to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2018 an increase of 20% against the previous year. Over the period under review, the export prices reached the peak figure at $X per unit in 2019; however, from 2020 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 the Netherlands ($X per unit), while Spain ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+8.1%), while the other leaders experienced more modest paces of growth.

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

Imports in the EU

Grease fittings and oil seals imports soared to X units in 2021, picking up by 51% on the previous year's figure. Over the period under review, imports saw a buoyant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, grease fittings and oil seals imports soared to $X in 2021. The total import value increased at an average annual rate of +4.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany represented the major importer of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels in the European Union, with the volume of imports recording X units, which was near 31% of total imports in 2021. It was distantly followed by France (X units), Denmark (X units), Spain (X units), the Czech Republic (X units), Finland (X units) and Austria (X units), together mixing up a 43% share of total imports. Italy (X units), Poland (X units), the Netherlands (X units), Hungary (X units), Belgium (X units) and Romania (X units) followed a long way behind the leaders.

Imports into Germany increased at an average annual rate of +10.9% from 2012 to 2021. At the same time, Denmark (+25.3%), Finland (+19.4%), Hungary (+19.1%), Spain (+14.9%), France (+12.3%), the Czech Republic (+12.2%), Austria (+10.8%), Poland (+10.4%), Belgium (+8.1%), Romania (+7.5%) and Italy (+7.2%) displayed positive paces of growth. Moreover, Denmark emerged as the fastest-growing importer imported in the European Union, with a CAGR of +25.3% from 2012-2021. By contrast, the Netherlands (-1.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Denmark, Finland, Hungary, Spain and France increased by +4.4, +2.5, +1.7, +1.7 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) constitutes the largest market for imported non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels in the European Union, comprising 30% of total imports. The second position in the ranking was held by France ($X), with a 13% share of total imports. It was followed by the Netherlands, with a 9.2% share.

In Germany, grease fittings and oil seals imports expanded at an average annual rate of +5.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: France (+4.1% per year) and the Netherlands (+3.2% per year).

Import Prices by Country

The import price in the European Union stood at $X per unit in 2021, declining by -17.8% against the previous year. In general, the import price saw a deep slump. The growth pace was the most rapid in 2016 when the import price increased by 14%. The level of import peaked at $X per unit in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was the Netherlands ($X per unit), while Finland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+4.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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