Latin America and the Caribbean: 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 Latin America and the Caribbean

The Latin American market for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels contracted to $X in 2021, waning by -13% against the previous year. The market value increased at an average annual rate of +2.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X, and then shrank in the following year.

Production of Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels in Latin America and the Caribbean

In value terms, grease fittings and oil seals production contracted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when the production volume increased by 33%. As a result, production attained the peak level of $X, and then fell in the following year.

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

Exports in Latin America and the Caribbean

In 2021, approx. X units of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels were exported in Latin America and the Caribbean; increasing by 132% against the previous year. Overall, exports recorded a prominent increase. As a result, the exports reached 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. Total exports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico prevails in exports structure, accounting for X units, which was approx. 92% of total exports in 2021. The following exporters - Colombia (X units) and Bahamas (X units) - together made up 4.7% of total exports.

Exports from Mexico increased at an average annual rate of +7.6% from 2012 to 2021. At the same time, Bahamas (+30.9%) and Colombia (+1.3%) displayed positive paces of growth. Moreover, Bahamas emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +30.9% from 2012-2021. Mexico (+7.7 p.p.) and Bahamas (+1.8 p.p.) significantly strengthened its position in terms of the total exports, while Colombia saw its share reduced by -1.5% from 2012 to 2021, respectively.

In value terms, Mexico ($X) remains the largest grease fittings and oil seals supplier in Latin America and the Caribbean, comprising 92% of total exports. The second position in the ranking was held by Colombia ($X), with a 2.8% share of total exports.

In Mexico, grease fittings and oil seals exports expanded at an average annual rate of +8.2% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Colombia (+0.6% per year) and Bahamas (+12.7% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per unit, dropping by -37.3% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the export price increased by 26%. The level of export peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+0.6%), while the other leaders experienced a decline in the export price figures.

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

Imports in Latin America and the Caribbean

In 2021, supplies from abroad of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels was finally on the rise to reach X units after two years of decline. Total imports indicated a notable increase from 2012 to 2021: its volume increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The volume of import 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 soared to $X in 2021. Over the period under review, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 38%. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Mexico was the largest importer of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels in Latin America and the Caribbean, with the volume of imports amounting to X units, which was approx. 49% of total imports in 2021. Chile (X units) held the second position in the ranking, followed by Bahamas (X units), Peru (X units), Brazil (X units) and Colombia (X units). All these countries together took near 33% share of total imports. Ecuador (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to grease fittings and oil seals imports into Mexico stood at +3.4%. At the same time, Bahamas (+26.1%), Peru (+7.2%), Chile (+5.3%) and Ecuador (+2.6%) displayed positive paces of growth. Moreover, Bahamas emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +26.1% from 2012-2021. By contrast, Colombia (-2.2%) and Brazil (-3.0%) illustrated a downward trend over the same period. While the share of Bahamas (+6.2 p.p.), Mexico (+4 p.p.), Peru (+1.9 p.p.) and Chile (+1.9 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Colombia (-2.8 p.p.) and Brazil (-3.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels in Latin America and the Caribbean, comprising 50% of total imports. The second position in the ranking was held by Chile ($X), with a 9.7% share of total imports. It was followed by Brazil, with an 8.4% share.

From 2012 to 2021, the average annual growth rate of value in Mexico totaled +2.4%. In the other countries, the average annual rates were as follows: Chile (+4.3% per year) and Brazil (+1.3% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per unit, waning by -29.8% against the previous year. Overall, the import price recorded a mild curtailment. The pace of growth was the most pronounced in 2015 when the import price increased by 15% against the previous year. The level of import peaked at $X per unit in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Brazil ($X per unit), while Bahamas ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+4.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :