Russian Federation: 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 the Russian Federation

The Russian market for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels fell to $X in 2021, which is down by -14.4% against the previous year. Over the period under review, consumption saw a mild decline. Grease fittings and oil seals consumption peaked at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

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

In value terms, grease fittings and oil seals production dropped to $X in 2021 estimated in export price. In general, production saw a mild setback. The most prominent rate of growth was recorded in 2020 with an increase of 40% against the previous year. Grease fittings and oil seals production peaked at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

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

Exports from the Russian Federation

In 2021, shipments abroad of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels decreased by -15.5% to X units for the first time since 2018, thus ending a two-year rising trend. Over the period under review, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 375%. As a result, the exports attained the peak of X units, and then fell significantly in the following year.

In value terms, grease fittings and oil seals exports reduced remarkably to $X in 2021. Overall, exports, however, enjoyed a buoyant increase. The growth pace was the most rapid in 2014 with an increase of 466%. Over the period under review, the exports attained the maximum at $X in 2020, and then shrank significantly in the following year.

Exports by Country

Bangladesh (X units) was the main destination for grease fittings and oil seals exports from Russia, with a 87% share of total exports. Moreover, grease fittings and oil seals exports to Bangladesh exceeded the volume sent to the second major destination, Belarus (X units), more than tenfold. Armenia (X units) ranked third in terms of total exports with a 3.8% share.

From 2012 to 2021, the average annual growth rate of volume to Bangladesh totaled +426.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belarus (+0.6% per year) and Armenia (+13.9% per year).

In value terms, Bangladesh ($X) remains the key foreign market for grease fittings and oil seals exports from Russia, comprising 63% of total exports. The second position in the ranking was taken by Belarus ($X), with an 11% share of total exports. It was followed by Kazakhstan, with a 6.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Bangladesh stood at +285.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belarus (+6.9% per year) and Kazakhstan (+14.2% 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, falling by -25% against the previous year. Over the period under review, the export price showed a deep downturn. The pace of growth was the most pronounced in 2014 when the average export price increased by 67%. As a result, the export price reached the peak level of $X per unit. From 2015 to 2021, the the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was India ($X per unit), while the average price for exports to Bangladesh ($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 Armenia (+10.1%), 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 the Russian Federation

In 2021, approx. X units of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels were imported into Russia; jumping by 77% against the year before. Over the period under review, imports enjoyed a resilient expansion. As a result, imports reached 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, imports posted a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey (X units), China (X units) and Italy (X units) were the main suppliers of grease fittings and oil seals imports to Russia, together accounting for 62% of total imports. Germany, the Czech Republic, Belarus, Taiwan (Chinese), India and Hungary lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +41.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Germany ($X) and Italy ($X) appeared to be the largest grease fittings and oil seals suppliers to Russia, with a combined 58% share of total imports. China, Taiwan (Chinese), Hungary, Belarus, the Czech Republic and India lagged somewhat behind, together comprising a further 25%.

Taiwan (Chinese), with a CAGR of +47.4%, saw the highest rates of growth with regard to the value of imports, among the main suppliers 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, with a decrease of -25.6% against the previous year. Over the period under review, the import price faced a deep setback. The growth pace was the most rapid in 2018 when the average import price increased by 15% against the previous year. The import price peaked 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 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 Taiwan (Chinese) (+6.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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