Finland: 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 Finland

In 2021, the Finnish market for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels increased by 52% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption enjoyed a remarkable increase. Grease fittings and oil seals consumption peaked in 2021 and is likely to continue growth in the immediate term.

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

In value terms, grease fittings and oil seals production totaled $X in 2021 estimated in export price. Overall, production, however, saw a resilient expansion. The pace of growth appeared the most rapid in 2019 when the production volume increased by 102% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a lower figure.

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

Exports from Finland

Grease fittings and oil seals exports from Finland surged to X units in 2021, rising by 184% against the previous year's figure. Over the period under review, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 6,366% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, grease fittings and oil seals exports surged to $X in 2021. Overall, exports enjoyed buoyant growth. The growth pace was the most rapid in 2013 when exports increased by 105% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in the near future.

Exports by Country

Sweden (X units), Poland (X units) and China (X units) were the main destinations of grease fittings and oil seals exports from Finland, together comprising 58% of total exports. These countries were followed by Russia, the Netherlands, the Czech Republic, the United States, France, Estonia, Norway, Turkey and Belgium, which together accounted for a further 32%.

From 2012 to 2021, the biggest increases were in the Czech Republic (with a CAGR of +157.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), China ($X) and the United States ($X) appeared to be the largest markets for grease fittings and oil seals exported from Finland worldwide, together comprising 36% of total exports. These countries were followed by Russia, the Czech Republic, Sweden, the Netherlands, Norway, Turkey, France, Belgium and Estonia, which together accounted for a further 29%.

The Czech Republic, with a CAGR of +109.7%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels stood at $X per unit in 2021, falling by -52.3% against the previous year. Over the period under review, the export price recorded a abrupt curtailment. The pace of growth was the most pronounced in 2019 when the average export price increased by 2,504%. As a result, the export price reached the peak level of $X per unit. From 2020 to 2021, the the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was the United States ($X per unit), while the average price for exports to Sweden ($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 Norway (+1.5%), while the prices for the other major destinations experienced a decline.

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

Imports into Finland

In 2021, supplies from abroad of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels increased by 131% to X units, rising for the second consecutive year after two years of decline. In general, imports saw a strong increase. The most prominent rate of growth was recorded in 2020 when imports increased by 12,143%. Imports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, grease fittings and oil seals imports rose sharply to $X in 2021. Over the period under review, imports continue to indicate modest growth. The most prominent rate of growth was recorded in 2014 when imports increased by 31%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Germany (X units) constituted the largest supplier of grease fittings and oil seals to Finland, accounting for a 54% share of total imports. Moreover, grease fittings and oil seals imports from Germany exceeded the figures recorded by the second-largest supplier, China (X units), twofold. The third position in this ranking was taken by Turkey (X units), with a 4.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany amounted to +52.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+12.8% per year) and Turkey (+90.1% per year).

In value terms, Germany ($X) constituted the largest supplier of grease fittings and oil seals to Finland, comprising 50% of total imports. The second position in the ranking was taken by China ($X), with a 9.4% share of total imports. It was followed by the Netherlands, with an 8.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany stood at +9.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-7.7% per year) and the Netherlands (+44.8% per year).

Import Prices by Country

In 2021, the average import price for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels amounted to $X per unit, shrinking by -51% against the previous year. In general, the import price faced a abrupt descent. The most prominent rate of growth was recorded in 2019 an increase of 6,888% against the previous year. As a result, import price reached the peak level of $X per unit. From 2020 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (-1.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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