Romania: 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 Romania

In 2021, the Romanian market for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption continues to indicate a pronounced slump. Grease fittings and oil seals consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

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

In value terms, grease fittings and oil seals production surged to $X in 2021 estimated in export price. Overall, production continues to indicate a slight descent. Grease fittings and oil seals production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

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

Exports from Romania

Grease fittings and oil seals exports from Romania skyrocketed to X units in 2021, picking up by 35% compared with 2020 figures. Overall, total exports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +9.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +102.0% against 2016 indices. The pace of growth was the most pronounced in 2013 when exports increased by 51% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to continue growth in years to come.

In value terms, grease fittings and oil seals exports skyrocketed to $X in 2021. In general, total exports indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -17.4% against 2018 indices. The pace of growth appeared the most rapid in 2018 when exports increased by 51% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Germany (X units) was the main destination for grease fittings and oil seals exports from Romania, with a 50% share of total exports. Moreover, grease fittings and oil seals exports to Germany exceeded the volume sent to the second major destination, France (X units), sixfold. The third position in this ranking was taken by India (X units), with a 7.4% share.

From 2012 to 2021, the average annual growth rate of volume to Germany stood at +11.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-3.2% per year) and India (+142.4% per year).

In value terms, Germany ($X) remains the key foreign market for grease fittings and oil seals exports from Romania, comprising 45% of total exports. The second position in the ranking was held by France ($X), with a 9.7% share of total exports. It was followed by Italy, with an 8.5% share.

From 2012 to 2021, the average annual growth rate of value to Germany totaled +5.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-8.0% per year) and Italy (+8.6% 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, almost unchanged from the previous year. Over the period under review, the export price, however, continues to indicate a abrupt downturn. The pace of growth was the most pronounced in 2018 when the average export price increased by 33%. As a result, the export price reached the peak level of $X per unit. From 2019 to 2021, the the average export prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Italy ($X per unit), while the average price for exports to India ($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 Italy (+4.4%), while the prices for the other major destinations experienced mixed trend patterns.

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

Imports into Romania

In 2021, the amount of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels imported into Romania skyrocketed to X units, rising by 27% on 2020 figures. Overall, imports showed a buoyant increase. The most prominent rate of growth was recorded in 2014 with an increase of 70%. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, grease fittings and oil seals imports expanded rapidly to $X in 2021. In general, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when imports increased by 42%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Germany (X units), the Czech Republic (X units) and Spain (X units) were the main suppliers of grease fittings and oil seals imports to Romania, with a combined 56% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Czech Republic (with a CAGR of +71.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of grease fittings and oil seals to Romania, comprising 46% of total imports. The second position in the ranking was held by France ($X), with an 8.4% share of total imports. It was followed by the Czech Republic, with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany stood at +7.0%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-6.3% per year) and the Czech Republic (+50.6% per year).

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, shrinking by -15.3% against the previous year. Over the period under review, the import price saw a deep contraction. The growth pace was the most rapid in 2019 an increase of 17% 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 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 Germany ($X per unit), while the price for Belgium ($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 (+5.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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