Mexico: 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 Mexico

The Mexican market for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels fell notably to $X in 2021, which is down by -21.1% against the previous year. In general, the total consumption indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +25.2% against 2019 indices. As a result, consumption reached the peak level of $X, and then dropped sharply in the following year.

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

In value terms, grease fittings and oil seals production contracted sharply to $X in 2021 estimated in export price. Over the period under review, the total production indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +4.2% 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 +28.2% against 2019 indices. The growth pace was the most rapid in 2020 with an increase of 56%. As a result, production attained the peak level of $X, and then contracted rapidly in the following year.

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

Exports from Mexico

In 2021, exports of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels from Mexico surged to X units, jumping by 142% compared with 2020 figures. Over the period under review, exports enjoyed a strong expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, grease fittings and oil seals exports skyrocketed to $X in 2021. In general, total exports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +8.2% 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 2014 with an increase of 51% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to continue growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for grease fittings and oil seals exports from Mexico, accounting for a 96% share of total exports. It was followed by China (X units), with a 1.7% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled +7.5%.

In value terms, the United States ($X) remains the key foreign market for grease fittings and oil seals exports from Mexico, comprising 92% of total exports. The second position in the ranking was taken by China ($X), with a 3.2% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +8.4%.

Export Prices by Country

The average export price for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels stood at $X per unit in 2021, which is down by -39.2% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average export price increased by 35%. The export price peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was China ($X per unit), while the average price for exports to the United States stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+0.8%).

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

Imports into Mexico

Grease fittings and oil seals imports into Mexico skyrocketed to X units in 2021, growing by 112% compared with the year before. Overall, imports recorded pronounced growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, grease fittings and oil seals imports surged to $X in 2021. Over the period under review, total imports indicated a moderate increase from 2012 to 2021: its value 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. Based on 2021 figures, imports decreased by -1.8% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 61% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United States (X units) constituted the largest grease fittings and oil seals supplier to Mexico, with a 57% share of total imports. Moreover, grease fittings and oil seals imports from the United States exceeded the figures recorded by the second-largest supplier, China (X units), threefold. The third position in this ranking was held by Taiwan (Chinese) (X units), with a 7.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States totaled +2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+18.6% per year) and Taiwan (Chinese) (+6.2% per year).

In value terms, the United States ($X) constituted the largest supplier of grease fittings and oil seals to Mexico, comprising 53% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 9.6% share of total imports. It was followed by Japan, with an 8.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+9.8% per year) and Japan (+3.0% 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, dropping by -43.2% against the previous year. Overall, the import price showed a slight descent. The pace of growth was the most pronounced in 2015 an increase of 29% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :