India: Market for Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines 2024

Market Size for Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines in India

The Indian fuel or lubricating pump market contracted to $X in 2021, which is down by -6.7% against the previous year. The market value increased at an average annual rate of +3.5% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X, and then declined in the following year.

Production of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines in India

In value terms, fuel or lubricating pump production fell to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.9% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2014 when the production volume increased by 16%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Exports of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines

Exports from India

After three years of decline, shipments abroad of fuel, lubricating or cooling-medium pumps for internal combustion engines increased by 63% to X units in 2021. In general, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 113% against the previous year. As a result, the exports attained the peak of X units. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, fuel or lubricating pump exports surged to $X in 2021. Over the period under review, exports recorded a buoyant increase. The most prominent rate of growth was recorded in 2017 when exports increased by 106%. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X units), Mexico (X units) and Germany (X units) were the main destinations of fuel or lubricating pump exports from India, with a combined 29% share of total exports. The UK, China, Indonesia, Egypt, Italy, Brazil, France, Bangladesh, Austria and Thailand lagged somewhat behind, together accounting for a further 49%.

From 2012 to 2021, the biggest increases were recorded for Austria (with a CAGR of +37.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for fuel or lubricating pump exported from India were the United States ($X), Germany ($X) and China ($X), together accounting for 46% of total exports. The UK, Italy, France, Brazil, Mexico, Thailand, Indonesia, Egypt, Bangladesh and Austria lagged somewhat behind, together comprising a further 35%.

Thailand, with a CAGR of +46.2%, saw the highest growth rate of the value of exports, in terms of 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

In 2021, the average fuel or lubricating pump export price amounted to $X per unit, with a decrease of -1.9% against the previous year. In general, export price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +6.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, fuel or lubricating pump export price increased by +28.5% against 2017 indices. The pace of growth was the most pronounced in 2014 an increase of 45% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2020, and then shrank in the following year.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Italy ($X per unit), while the average price for exports to Austria ($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 Thailand (+18.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines

Imports into India

In 2021, fuel or lubricating pump imports into India skyrocketed to X units, with an increase of 21% against the previous year. Overall, imports recorded prominent growth. The most prominent rate of growth was recorded in 2020 with an increase of 83%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, fuel or lubricating pump imports surged to $X in 2021. Over the period under review, imports continue to indicate a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest supplier of fuel or lubricating pump to India, with a 59% share of total imports. Moreover, fuel or lubricating pump imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), fivefold. The third position in this ranking was held by Thailand (X units), with a 5.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +13.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+24.5% per year) and Thailand (+26.0% per year).

In value terms, the largest fuel or lubricating pump suppliers to India were China ($X), the United States ($X) and Thailand ($X), together comprising 47% of total imports.

Thailand, with a CAGR of +35.0%, saw the highest rates of growth with regard to the value of imports, among the main suppliers 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 fuel or lubricating pump import price amounted to $X per unit, with an increase of 26% against the previous year. Overall, the import price, however, continues to indicate a slight contraction. Over the period under review, average import prices reached the maximum at $X per unit in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+18.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :