Portugal: 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 Portugal

The Portuguese market for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels contracted to $X in 2021, dropping by -9% against the previous year. Overall, consumption showed a abrupt downturn. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

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

In value terms, grease fittings and oil seals production surged to $X in 2021 estimated in export price. In general, production showed a abrupt decline. Over the period under review, production reached the peak level at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

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

Exports from Portugal

Grease fittings and oil seals exports from Portugal surged to X units in 2021, increasing by 40% compared with 2020. Overall, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 169%. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, grease fittings and oil seals exports expanded remarkably to $X in 2021. Over the period under review, exports continue to indicate a prominent increase. The growth pace was the most rapid in 2013 when exports increased by 206%. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in years to come.

Exports by Country

France (X units) was the main destination for grease fittings and oil seals exports from Portugal, with a 60% share of total exports. Moreover, grease fittings and oil seals exports to France exceeded the volume sent to the second major destination, Germany (X units), threefold. The third position in this ranking was held by Spain (X units), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to France stood at +21.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+102.3% per year) and Spain (+47.7% per year).

In value terms, France ($X) remains the key foreign market for grease fittings and oil seals exports from Portugal, comprising 46% of total exports. The second position in the ranking was held by Germany ($X), with a 21% share of total exports. It was followed by Switzerland, with a 9.1% share.

From 2012 to 2021, the average annual growth rate of value to France amounted to +18.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+79.5% per year) and Switzerland (+62.1% 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, dropping by -22.9% against the previous year. In general, the export price saw a deep contraction. The pace of growth appeared the most rapid in 2019 when the average export price increased by 64%. As a result, the export price reached the peak level of $X per unit. From 2020 to 2021, the the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Switzerland ($X per unit), while the average price for exports to the Czech Republic ($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 Switzerland (+7.4%), while the prices for the other major destinations experienced a decline.

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

Imports into Portugal

In 2021, purchases abroad of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels increased by 19% to X units, rising for the second consecutive year after three years of decline. Overall, imports showed strong growth. The pace of growth appeared the most rapid in 2015 when imports increased by 71% against the previous year. Over the period under review, imports hit record highs at X units in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, grease fittings and oil seals imports stood at $X in 2021. Over the period under review, total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -15.8% against 2018 indices. The most prominent rate of growth was recorded in 2015 with an increase of 31% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

Germany (X units), Spain (X units) and France (X units) were the main suppliers of grease fittings and oil seals imports to Portugal, together comprising 76% of total imports. Italy, India, Belgium and Hungary lagged somewhat behind, together accounting for a further 15%.

From 2012 to 2021, the biggest increases were in Hungary (with a CAGR of +175.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Spain ($X) and Belgium ($X) appeared to be the largest grease fittings and oil seals suppliers to Portugal, with a combined 76% share of total imports. These countries were followed by France, Hungary, Italy and India, which together accounted for a further 13%.

In terms of the main suppliers, Hungary, with a CAGR of +177.5%, recorded the highest growth rate of 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

In 2021, the average import price for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels amounted to $X per unit, which is down by -3.6% against the previous year. Overall, the import price saw a abrupt decline. The most prominent rate of growth was recorded in 2019 an increase of 49%. Over the period under review, average import prices reached the peak figure at $X per unit in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+3.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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