Saudi Arabia: 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 Saudi Arabia

In 2021, the Saudi fuel or lubricating pump market increased by 35% to $X, rising for the third consecutive year after two years of decline. In general, consumption, however, saw a noticeable reduction. Fuel or lubricating pump consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

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

Exports from Saudi Arabia

In 2021, the amount of fuel, lubricating or cooling-medium pumps for internal combustion engines exported from Saudi Arabia declined markedly to X units, which is down by -48.7% compared with the previous year's figure. Overall, exports, however, continue to indicate perceptible growth. The most prominent rate of growth was recorded in 2020 when exports increased by 1,604% against the previous year. As a result, the exports attained the peak of X units, and then dropped remarkably in the following year.

In value terms, fuel or lubricating pump exports shrank notably to $X in 2021. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 1,394% against the previous year. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

Bahrain (X units) was the main destination for fuel or lubricating pump exports from Saudi Arabia, with a 53% share of total exports. Moreover, fuel or lubricating pump exports to Bahrain exceeded the volume sent to the second major destination, the United Arab Emirates (X units), threefold. Oman (X units) ranked third in terms of total exports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume to Bahrain stood at +20.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+24.3% per year) and Oman (+21.1% per year).

In value terms, Bahrain ($X) emerged as the key foreign market for fuel, lubricating or cooling-medium pumps for internal combustion engines exports from Saudi Arabia, comprising 51% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 7% share of total exports. It was followed by Kuwait, with a 6.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Bahrain stood at +35.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+3.2% per year) and Kuwait (+22.1% per year).

Export Prices by Country

The average fuel or lubricating pump export price stood at $X per unit in 2021, increasing by 4.4% against the previous year. Overall, the export price, however, showed a pronounced decline. The most prominent rate of growth was recorded in 2013 an increase of 27%. The export price peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was India ($X per unit), while the average price for exports to Oman ($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 India (+17.9%), 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 Saudi Arabia

In 2021, purchases abroad of fuel, lubricating or cooling-medium pumps for internal combustion engines increased by 42% to X units, rising for the third consecutive year after two years of decline. Overall, imports, however, continue to indicate a mild shrinkage. The pace of growth was the most pronounced in 2020 when imports increased by 68% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, fuel or lubricating pump imports rose notably to $X in 2021. In general, imports, however, showed a abrupt curtailment. The pace of growth appeared the most rapid in 2020 with an increase of 56%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Japan (X units), Italy (X units) and China (X units) were the main suppliers of fuel or lubricating pump imports to Saudi Arabia, together comprising 83% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +49.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest fuel or lubricating pump suppliers to Saudi Arabia were Germany ($X), Japan ($X) and the United States ($X), with a combined 46% share of total imports. Mexico, China, Italy and South Korea lagged somewhat behind, together comprising a further 33%.

In terms of the main suppliers, Mexico, with a CAGR of +10.8%, saw the highest rates of growth with regard to 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

The average fuel or lubricating pump import price stood at $X per unit in 2021, dropping by -20.6% against the previous year. Overall, the import price saw a pronounced downturn. The pace of growth was the most pronounced in 2015 when the average import price increased by 27% against the previous year. As a result, import price attained the peak level of $X per unit. From 2016 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+0.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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