Italy: 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 Italy

The Italian market for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels shrank significantly to $X in 2021, with a decrease of -42.4% against the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. Grease fittings and oil seals consumption peaked at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

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

In value terms, grease fittings and oil seals production dropped notably to $X in 2021 estimated in export price. Overall, production continues to indicate a mild shrinkage. The pace of growth appeared the most rapid in 2020 when the production volume increased by 698% against the previous year. Grease fittings and oil seals production peaked at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

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

Exports from Italy

In 2021, the amount of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels exported from Italy reached X units, approximately reflecting the year before. The total export volume increased at an average annual rate of +1.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when exports increased by 29% against the previous year. The exports peaked in 2021 and are likely to continue growth in the near future.

In value terms, grease fittings and oil seals exports surged to $X in 2021. Over the period under review, total exports indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 when exports increased by 37% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

Germany (X units) was the main destination for grease fittings and oil seals exports from Italy, with a 28% share of total exports. Moreover, grease fittings and oil seals exports to Germany exceeded the volume sent to the second major destination, the UK (X units), threefold. Switzerland (X units) ranked third in terms of total exports with a 6.4% share.

From 2012 to 2021, the average annual growth rate of volume to Germany totaled +15.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-0.0% per year) and Switzerland (+26.1% per year).

In value terms, Germany ($X) remains the key foreign market for grease fittings and oil seals exports from Italy, comprising 24% of total exports. The second position in the ranking was held by the United States ($X), with an 11% share of total exports. It was followed by Switzerland, with a 6.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany totaled +12.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+4.6% per year) and Switzerland (+16.9% 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, with an increase of 15% against the previous year. In general, export price indicated a notable expansion from 2012 to 2021: its price increased at an average annual rate of +2.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, grease fittings and oil seals export price decreased by -18.6% against 2018 indices. The most prominent rate of growth was recorded in 2017 when the average export price increased by 39% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per unit), while the average price for exports to Finland ($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 Poland (+20.7%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into Italy

Grease fittings and oil seals imports into Italy skyrocketed to X units in 2021, picking up by 36% on 2020. Overall, total imports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +63.2% against 2019 indices. The growth pace was the most rapid in 2018 when imports increased by 50% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see steady growth in years to come.

In value terms, grease fittings and oil seals imports soared to $X in 2021. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, 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 (X units), China (X units) and the Czech Republic (X units) were the main suppliers of grease fittings and oil seals imports to Italy, together accounting for 56% of total imports. These countries were followed by France, Tunisia, Turkey, Taiwan (Chinese), Poland, Switzerland and Slovakia, which together accounted for a further 30%.

From 2012 to 2021, the biggest increases were in Tunisia (with a CAGR of +41.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of grease fittings and oil seals to Italy, comprising 45% of total imports. The second position in the ranking was held by Switzerland ($X), with an 8.3% share of total imports. It was followed by France, with a 7.2% share.

From 2012 to 2021, the average annual growth rate of value from Germany totaled +6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (+8.0% per year) and France (-5.2% 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, rising by 8.4% against the previous year. Overall, the import price, however, saw a slight slump. The pace of growth was the most pronounced in 2019 when the average import price increased by 34%. The import price peaked at $X per unit in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Switzerland (+7.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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