New Zealand: 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 New Zealand

In 2021, after five years of decline, there was significant growth in the New Zealand market for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels, when its value increased by 28% to $X. In general, consumption, however, recorded a pronounced slump. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market failed to regain momentum.

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

Exports from New Zealand

In 2021, overseas shipments of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels decreased by -2.1% to X units, falling for the second consecutive year after two years of growth. In general, exports continue to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2013 when exports increased by 75% against the previous year. The exports peaked at X units in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, grease fittings and oil seals exports rose sharply to $X in 2021. Over the period under review, exports showed a abrupt setback. The most prominent rate of growth was recorded in 2013 when exports increased by 99% against the previous year. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Australia (X units) was the main destination for grease fittings and oil seals exports from New Zealand, accounting for a 34% share of total exports. Moreover, grease fittings and oil seals exports to Australia exceeded the volume sent to the second major destination, the United States (X units), twofold. The third position in this ranking was held by Germany (X units), with a 9% share.

From 2012 to 2021, the average annual growth rate of volume to Australia stood at +2.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+18.3% per year) and Germany (+49.1% per year).

In value terms, Australia ($X) remains the key foreign market for grease fittings and oil seals exports from New Zealand, comprising 34% of total exports. The second position in the ranking was held by the United States ($X), with a 15% share of total exports. It was followed by Germany, with a 9% share.

From 2012 to 2021, the average annual growth rate of value to Australia amounted to +11.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+15.3% per year) and Germany (+35.3% per year).

Export Prices by Country

In 2021, the average export price for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels amounted to $X per unit, jumping by 15% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.1%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major external markets. In 2021, the countries with the highest prices were Vanuatu ($X per unit) and Taiwan (Chinese) ($X per unit), while the average price for exports to Germany ($X per unit) and Australia ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+19.1%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into New Zealand

After five years of decline, purchases abroad of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels increased by 29% to X units in 2021. In general, imports, however, saw a abrupt contraction. The most prominent rate of growth was recorded in 2015 with an increase of 86%. As a result, imports attained the peak of X units. From 2016 to 2021, the growth of imports remained at a lower figure.

In value terms, grease fittings and oil seals imports skyrocketed to $X in 2021. Overall, imports, however, recorded a slight contraction. Over the period under review, imports attained the peak figure at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

The United States (X units), Germany (X units) and China (X units) were the main suppliers of grease fittings and oil seals imports to New Zealand, with a combined 53% share of total imports. These countries were followed by Sweden, Japan, Australia, Italy, Mexico, Taiwan (Chinese), the UK and Thailand, which together accounted for a further 36%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Mexico (with a CAGR of +35.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Germany ($X) and China ($X) appeared to be the largest grease fittings and oil seals suppliers to New Zealand, with a combined 53% share of total imports. Sweden, Japan, Australia, Italy, Mexico, Taiwan (Chinese), the UK and Thailand lagged somewhat behind, together comprising a further 36%.

In terms of the main suppliers, Sweden, with a CAGR of +28.4%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels stood at $X per unit in 2021, reducing by -7% against the previous year. In general, the import price, however, showed a prominent increase. The pace of growth was the most pronounced in 2016 an increase of 73% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2020, and then contracted in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were Mexico ($X per unit) and Italy ($X per unit), while the price for the United States ($X per unit) and Germany ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+17.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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