MENA: 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 MENA

The MENA's fuel or lubricating pump market shrank modestly to $X in 2021, standing approx. at the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

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

In value terms, fuel or lubricating pump production reduced slightly to $X in 2021 estimated in export price. The total production indicated a resilient expansion 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. Based on 2021 figures, production increased by +80.7% against 2013 indices. The pace of growth was the most pronounced in 2014 when the production volume increased by 14%. The level of production peaked at $X in 2020, and then dropped slightly in the following year.

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

Exports in MENA

In 2021, exports of fuel, lubricating or cooling-medium pumps for internal combustion engines in MENA soared to X units, with an increase of 55% on the year before. Over the period under review, exports showed a buoyant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, fuel or lubricating pump exports soared to $X in 2021. In general, exports continue to indicate significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Turkey (X units) was the major exporter of fuel, lubricating or cooling-medium pumps for internal combustion engines, making up 71% of total exports. It was distantly followed by the United Arab Emirates (X units), creating a 28% share of total exports.

Turkey was also the fastest-growing in terms of the fuel, lubricating or cooling-medium pumps for internal combustion engines exports, with a CAGR of +23.6% from 2012 to 2021. At the same time, the United Arab Emirates (+3.4%) displayed positive paces of growth. Turkey (+39 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -35.2% from 2012 to 2021, respectively.

In value terms, Turkey ($X) remains the largest fuel or lubricating pump supplier in MENA, comprising 85% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 14% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Turkey stood at +26.7%.

Export Prices by Country

The export price in MENA stood at $X per unit in 2021, jumping by 25% against the previous year. In general, the export price continues to indicate a strong expansion. The growth pace was the most rapid in 2015 an increase of 96%. Over the period under review, the export prices reached the peak figure in 2021 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Turkey ($X per unit), while the United Arab Emirates totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+9.0%).

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

Imports in MENA

Fuel or lubricating pump imports surged to X units in 2021, increasing by 16% compared with 2020. The total import volume increased at an average annual rate of +1.9% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2016 when imports increased by 16% against the previous year. Over the period under review, imports hit record highs at X units in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, fuel or lubricating pump imports soared to $X in 2021. The total import value increased at an average annual rate of +2.6% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United Arab Emirates (X units) and Turkey (X units) represented the major importers of fuel, lubricating or cooling-medium pumps for internal combustion engines in MENA, together accounting for near 49% of total imports. Algeria (X units) took a 6.8% share (based on physical terms) of total imports, which put it in second place, followed by Saudi Arabia (6.6%), Iraq (6.5%), Oman (4.7%) and Iran (4.6%). Israel (X units), Libya (X units), Egypt (X units), Morocco (X units), Kuwait (X units) and Yemen (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Yemen (with a CAGR of +83.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest fuel or lubricating pump importing markets in MENA were Turkey ($X), the United Arab Emirates ($X) and Saudi Arabia ($X), with a combined 70% share of total imports. Algeria, Morocco, Iran, Iraq, Israel, Kuwait, Oman, Egypt, Libya and Yemen lagged somewhat behind, together comprising a further 26%.

Yemen, with a CAGR of +39.8%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in MENA stood at $X per unit in 2021, picking up by 7.9% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the import price increased by 15% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Morocco (+12.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform