Middle East: 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 the Middle East

The Middle Eastern market for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels was estimated at $X in 2021, approximately equating the previous year. The market value increased at an average annual rate of +1.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

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

In value terms, grease fittings and oil seals production stood at $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 with an increase of 19% against the previous year. Over the period under review, production reached the maximum level at $X in 2016; however, from 2017 to 2021, production stood at a somewhat lower figure.

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

Exports in the Middle East

In 2021, after two years of decline, there was significant growth in shipments abroad of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels, when their volume increased by 64% to X units. In general, exports showed a prominent expansion. The growth pace was the most rapid in 2017 with an increase of 244% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, grease fittings and oil seals exports skyrocketed to $X in 2021. Total exports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +8.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +50.4% against 2019 indices. The pace of growth appeared the most rapid in 2013 when exports increased by 45%. The level of export peaked at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, the United Arab Emirates (X units) represented the key exporter of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels, comprising 53% of total exports. Turkey (X units) held a 30% share (based on physical terms) of total exports, which put it in second place, followed by Bahrain (12%). Oman (X units) held a little share of total exports.

From 2012 to 2021, the biggest increases were in Bahrain (with a CAGR of +23.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Turkey ($X) and Bahrain ($X) constituted the countries with the highest levels of exports in 2021, with a combined 93% share of total exports.

Among the main exporting countries, Bahrain, with a CAGR of +25.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per unit, which is down by -23.6% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of 140% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2017 to 2021, the the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bahrain (+1.4%), while the other leaders experienced mixed trends in the export price figures.

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

Imports in the Middle East

For the fifth year in a row, the Middle East recorded growth in overseas purchases of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels, which increased by 24% to X units in 2021. Total imports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +6.6% 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 increased by +58.4% against 2016 indices. The pace of growth was the most pronounced in 2014 with an increase of 41%. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in the immediate term.

In value terms, grease fittings and oil seals imports surged to $X in 2021. Overall, imports showed a relatively flat trend pattern. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

The purchases of the three major importers of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels, namely Iran, the United Arab Emirates and Turkey, represented more than two-thirds of total import. It was distantly followed by Oman (X units) and Israel (X units), together generating a 16% share of total imports. Iraq (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were in Iraq (with a CAGR of +24.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest grease fittings and oil seals importing markets in the Middle East were the United Arab Emirates ($X), Turkey ($X) and Oman ($X), with a combined 64% share of total imports.

Turkey, with a CAGR of +12.2%, recorded 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 the Middle East stood at $X per unit in 2021, surging by 6.6% against the previous year. Overall, the import price, however, saw a abrupt decrease. The pace of growth appeared the most rapid in 2013 when the import price increased by 39%. As a result, import price attained the peak level of $X per unit. From 2014 to 2021, the import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (-0.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :