Peru: 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 Peru

The Peruvian market for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels surged to $X in 2021, picking up by 56% 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). Over the period under review, the total consumption indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level in 2021 and is likely to see steady growth in the near future.

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

Exports from Peru

In 2021, shipments abroad of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels decreased by -29.1% to X units for the first time since 2017, thus ending a three-year rising trend. Over the period under review, exports, however, recorded a modest increase. The most prominent rate of growth was recorded in 2014 with an increase of 59% against the previous year. As a result, the exports reached the peak of X units. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, grease fittings and oil seals exports reduced to $X in 2021. Overall, exports, however, continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2019 when exports increased by 120%. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for grease fittings and oil seals exports from Peru, accounting for a 27% share of total exports. Moreover, grease fittings and oil seals exports to the United States exceeded the volume sent to the second major destination, Guatemala (X units), twofold. Ecuador (X units) ranked third in terms of total exports with a 9.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +11.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (+19.8% per year) and Ecuador (+5.0% per year).

In value terms, the United States ($X) remains the key foreign market for grease fittings and oil seals exports from Peru, comprising 31% of total exports. The second position in the ranking was taken by Chile ($X), with an 11% share of total exports. It was followed by Guatemala, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +15.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+1.6% per year) and Guatemala (+24.3% per year).

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, surging by 33% against the previous year. Overall, export price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, grease fittings and oil seals export price decreased by -5.3% against 2019 indices. The pace of growth appeared the most rapid in 2015 when the average export price increased by 47% against the previous year. The export price peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Zambia ($X per unit), while the average price for exports to Ecuador ($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 Mexico (+14.8%), 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 Peru

Grease fittings and oil seals imports into Peru skyrocketed to X units in 2021, growing by 49% compared with the year before. In general, total imports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +7.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, grease fittings and oil seals imports skyrocketed to $X in 2021. Overall, total imports 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. The pace of growth appeared the most rapid in 2016 with an increase of 73%. Imports peaked in 2021 and are likely to see steady growth in the near future.

Imports by Country

China (X units), the United States (X units) and Taiwan (Chinese) (X units) were the main suppliers of grease fittings and oil seals imports to Peru, with a combined 76% share of total imports. These countries were followed by India, Germany, Italy, Japan, Brazil, South Korea and Turkey, which together accounted for a further 16%.

From 2012 to 2021, the biggest increases were in Turkey (with a CAGR of +20.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of grease fittings and oil seals to Peru, comprising 40% of total imports. The second position in the ranking was held by China ($X), with a 13% share of total imports. It was followed by Taiwan (Chinese), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States stood at +2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+17.3% per year) and Taiwan (Chinese) (+6.0% per year).

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, growing by 2.1% against the previous year. In general, the import price, however, recorded a pronounced decline. The pace of growth appeared the most rapid in 2016 an increase of 28% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2012; however, from 2013 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 (+8.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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