Kenya: Oil Dispensing Pump Market 2024

Oil Dispensing Pump Market Size in Kenya

In 2021, the Kenyan oil dispensing pump market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption posted a noticeable expansion. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Oil Dispensing Pump Exports

Exports from Kenya

In 2021, overseas shipments of petrol and oil dispensing pumps increased by 289% to X units, rising for the third consecutive year after three years of decline. Over the period under review, exports saw significant growth. The pace of growth appeared the most rapid in 2015 when exports increased by 567% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in years to come.

In value terms, oil dispensing pump exports surged to $X in 2021. In general, exports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2015 when exports increased by 528% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Democratic Republic of the Congo (X units), South Sudan (X units) and Uganda (X units) were the main destinations of oil dispensing pump exports from Kenya, with a combined 77% share of total exports. Zambia, Ethiopia, Tanzania and Guinea lagged somewhat behind, together comprising a further 20%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ethiopia (with a CAGR of +191.3%), while the other leaders experienced more modest paces of growth.

In value terms, Democratic Republic of the Congo ($X) emerged as the key foreign market for petrol and oil dispensing pumps exports from Kenya, comprising 53% of total exports. The second position in the ranking was taken by Uganda ($X), with a 23% share of total exports. It was followed by Ethiopia, with an 8.7% share.

From 2012 to 2021, the average annual growth rate of value to Democratic Republic of the Congo totaled +46.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uganda (+84.7% per year) and Ethiopia (+106.5% per year).

Export Prices by Country

The average oil dispensing pump export price stood at $X per unit in 2021, with a decrease of -29.1% against the previous year. Overall, the export price, however, posted a modest increase. The most prominent rate of growth was recorded in 2013 when the average export price increased by 104% against the previous year. The export price peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Ethiopia ($X per unit), while the average price for exports to Zambia ($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 Sudan (-2.0%), while the prices for the other major destinations experienced a decline.

Oil Dispensing Pump Imports

Imports into Kenya

In 2021, oil dispensing pump imports into Kenya surged to X units, growing by 69% compared with the previous year. Overall, imports continue to indicate a slight expansion. The most prominent rate of growth was recorded in 2014 with an increase of 123%. As a result, imports reached the peak of X units. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, oil dispensing pump imports skyrocketed to $X in 2021. In general, imports showed strong growth. 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 oil dispensing pump to Kenya, accounting for a 66% share of total imports. Moreover, oil dispensing pump imports from China exceeded the figures recorded by the second-largest supplier, India (X units), sixfold. Brazil (X units) ranked third in terms of total imports with a 4.6% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+32.5% per year) and Brazil (+15.3% per year).

In value terms, Brazil ($X), China ($X) and India ($X) were the largest oil dispensing pump suppliers to Kenya, together comprising 68% of total imports.

India, with a CAGR of +42.7%, recorded 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 oil dispensing pump import price amounted to $X per unit, growing by 86% against the previous year. In general, the import price showed a remarkable increase. The growth pace was the most rapid in 2015 when the average import price increased by 116% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Brazil ($X per unit), while the price for the United States ($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 UK (+27.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :