Myanmar: 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 Myanmar

The Myanmar's fuel or lubricating pump market surged to $X in 2021, rising by 424% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate significant growth. Fuel or lubricating pump consumption peaked at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

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

Exports from Myanmar

In 2021, shipments abroad of fuel, lubricating or cooling-medium pumps for internal combustion engines was finally on the rise to reach X units after three years of decline. Over the period under review, exports showed a buoyant increase. The exports peaked at X units in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

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

Exports by Country

The United Arab Emirates (X units), Turkey (X units) and Iceland (X units) were the main destinations of fuel or lubricating pump exports from Myanmar, together comprising 77% of total exports.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +213.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for fuel or lubricating pump exported from Myanmar were the United Arab Emirates ($X), Singapore ($X) and Turkey ($X), together comprising 90% of total exports.

The United Arab Emirates, with a CAGR of +265.3%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average fuel or lubricating pump export price stood at $X per unit in 2021, with a decrease of -41.3% against the previous year. In general, the export price saw a perceptible decline. The most prominent rate of growth was recorded in 2019 an increase of 720%. As a result, the export price reached the peak level of $X per unit. From 2020 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Singapore ($X per unit), while the average price for exports to Thailand ($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 Singapore (+19.9%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into Myanmar

In 2021, approx. X units of fuel, lubricating or cooling-medium pumps for internal combustion engines were imported into Myanmar; rising by 429% compared with the year before. Overall, imports enjoyed a significant increase. The growth pace was the most rapid in 2013 with an increase of 940% against the previous year. Imports peaked at X units in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, fuel or lubricating pump imports surged to $X in 2021. In general, imports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 783%. Imports peaked at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest fuel or lubricating pump supplier to Myanmar, with a 73% share of total imports. Moreover, fuel or lubricating pump imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X units), sevenfold. The third position in this ranking was taken by Thailand (X units), with a 5.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +47.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+116.3% per year) and Thailand (+62.2% per year).

In value terms, China ($X) constituted the largest supplier of fuel, lubricating or cooling-medium pumps for internal combustion engines to Myanmar, comprising 67% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 6.4% share of total imports. It was followed by Thailand, with a 3.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +73.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+141.1% per year) and Thailand (+67.6% per year).

Import Prices by Country

The average fuel or lubricating pump import price stood at $X per unit in 2021, approximately equating the previous year. Over the period under review, the import price, however, saw a resilient increase. The most prominent rate of growth was recorded in 2020 an increase of 93% against the previous year. As a result, import price attained the peak level of $X per unit, and then dropped in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+22.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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