Oman: 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 Oman

The Omani fuel or lubricating pump market rose remarkably to $X in 2021, increasing by 9.9% 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 showed a strong increase. Over the period under review, the market hit record highs in 2021 and is likely to see steady growth in the immediate term.

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

Exports from Oman

Fuel or lubricating pump exports from Oman dropped markedly to X units in 2021, shrinking by -53.9% on the previous year. In general, exports recorded a abrupt downturn. The most prominent rate of growth was recorded in 2015 when exports increased by 82%. The exports peaked at X units in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, fuel or lubricating pump exports reduced dramatically to $X in 2021. Over the period under review, exports showed a abrupt setback. The pace of growth appeared the most rapid in 2014 when exports increased by 143%. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Bulgaria (X units), Switzerland (X units) and the United States (X units) were the main destinations of fuel or lubricating pump exports from Oman, with a combined 67% share of total exports. These countries were followed by India, Hong Kong SAR, the UK, Tanzania and the Netherlands, which together accounted for a further 33%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of +21.8%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for fuel or lubricating pump exported from Oman were the United States ($X), Switzerland ($X) and Hong Kong SAR ($X), with a combined 76% share of total exports.

In terms of the main countries of destination, Hong Kong SAR, with a CAGR of +17.9%, recorded 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 average fuel or lubricating pump export price amounted to $X per unit, picking up by 45% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 109% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was the Netherlands ($X per unit), while the average price for exports to Tanzania ($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 Austria (+61.0%), 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 Oman

In 2021, the amount of fuel, lubricating or cooling-medium pumps for internal combustion engines imported into Oman skyrocketed to X units, growing by 18% on 2020. Overall, imports enjoyed a prominent expansion. The growth pace was the most rapid in 2014 when imports increased by 53%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, fuel or lubricating pump imports declined to $X in 2021. Over the period under review, imports enjoyed a prominent increase. The most prominent rate of growth was recorded in 2014 with an increase of 120%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the United Arab Emirates (X units) constituted the largest supplier of fuel or lubricating pump to Oman, accounting for a 63% share of total imports. Moreover, fuel or lubricating pump imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Japan (X units), twofold. Thailand (X units) ranked third in terms of total imports with a 2.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United Arab Emirates stood at +20.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-3.2% per year) and Thailand (-4.0% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of fuel, lubricating or cooling-medium pumps for internal combustion engines to Oman, comprising 46% of total imports. The second position in the ranking was held by Japan ($X), with a 22% share of total imports. It was followed by Germany, with a 5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United Arab Emirates amounted to +28.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-0.1% per year) and Germany (+7.4% per year).

Import Prices by Country

The average fuel or lubricating pump import price stood at $X per unit in 2021, falling by -20.3% against the previous year. Over the period under review, import price indicated a moderate increase from 2012 to 2021: its price increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, fuel or lubricating pump import price decreased by -31.3% against 2016 indices. The pace of growth appeared the most rapid in 2014 when the average import price increased by 44%. The import price peaked at $X per unit in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+29.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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