Ghana: 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 Ghana

The Ghanian market for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels surged to $X in 2021, with an increase of 59% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, showed a slight slump. Grease fittings and oil seals consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

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

Exports from Ghana

In 2021, overseas shipments 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. Over the period under review, exports continue to indicate buoyant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, grease fittings and oil seals exports soared to $X in 2021. Overall, exports, however, saw a abrupt slump. The most prominent rate of growth was recorded in 2018 when exports increased by 45%. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Egypt (X units) was the main destination for grease fittings and oil seals exports from Ghana, accounting for a 57% share of total exports. Moreover, grease fittings and oil seals exports to Egypt exceeded the volume sent to the second major destination, Benin (X units), threefold. The third position in this ranking was taken by Sweden (X units), with a 9.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Egypt amounted to +268.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Benin (0.0% per year) and Sweden (0.0% per year).

In value terms, Egypt ($X) remains the key foreign market for grease fittings and oil seals exports from Ghana, comprising 70% of total exports. The second position in the ranking was taken by Sweden ($X), with an 11% share of total exports. It was followed by Canada, with a 6.6% share.

From 2012 to 2021, the average annual growth rate of value to Egypt stood at +55.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (0.0% per year) and Canada (0.0% per year).

Export Prices by Country

In 2021, the average export price for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels amounted to $X per unit, dropping by -85% against the previous year. Overall, the export price saw a abrupt contraction. The pace of growth appeared the most rapid in 2014 when the average export price increased by 44% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2015 to 2021, the the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Canada ($X per unit), while the average price for exports to Benin ($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 South Africa (+10.1%), while the prices for the other major destinations experienced mixed trend patterns.

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

Imports into Ghana

Grease fittings and oil seals imports into Ghana surged to X units in 2021, picking up by 107% on the year before. In general, imports enjoyed a pronounced expansion. The most prominent rate of growth was recorded in 2019 with an increase of 187% against the previous year. Imports peaked at X units in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, grease fittings and oil seals imports skyrocketed to $X in 2021. Over the period under review, imports, however, saw a perceptible slump. The most prominent rate of growth was recorded in 2017 with an increase of 69%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Italy (X units), China (X units) and South Korea (X units) were the main suppliers of grease fittings and oil seals imports to Ghana, together accounting for 59% of total imports. Spain, the United Arab Emirates, India, the United States, Germany, Belgium, the Netherlands and the UK lagged somewhat behind, together comprising a further 36%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +82.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Italy ($X) and South Korea ($X) constituted the largest grease fittings and oil seals suppliers to Ghana, with a combined 35% share of total imports. These countries were followed by Spain, Germany, India, China, the United Arab Emirates, the Netherlands, Belgium and the UK, which together accounted for a further 52%.

Among the main suppliers, Spain, with a CAGR of +89.5%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

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, reducing by -36% against the previous year. In general, the import price recorded a abrupt descent. The pace of growth appeared the most rapid in 2020 when the average import price increased by 59% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+19.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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