Saudi Arabia: 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 Saudi Arabia

The Saudi market for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels reached $X in 2021, surging by 7.7% against the previous year. Over the period under review, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -7.1% against 2019 indices. Grease fittings and oil seals consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

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

In value terms, grease fittings and oil seals production expanded markedly to $X in 2021 estimated in export price. In general, production enjoyed a remarkable increase. The growth pace was the most rapid in 2016 with an increase of 49%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

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

Exports from Saudi Arabia

After two years of decline, overseas shipments of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels increased by 690% to X units in 2021. In general, exports posted a significant increase. The pace of growth appeared the most rapid in 2017 when exports increased by 3,144%. The exports peaked at X units in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, grease fittings and oil seals exports soared to $X in 2021. Overall, exports posted a remarkable increase. The growth pace was the most rapid in 2017 with an increase of 1,837%. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X units) was the main destination for grease fittings and oil seals exports from Saudi Arabia, with a 69% share of total exports. Moreover, grease fittings and oil seals exports to the United Arab Emirates exceeded the volume sent to the second major destination, Bahrain (X units), threefold. The third position in this ranking was taken by Malaysia (X units), with a 5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United Arab Emirates stood at +121.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bahrain (+74.3% per year) and Malaysia (+86.9% per year).

In value terms, the United Arab Emirates ($X), Malaysia ($X) and Bahrain ($X) appeared to be the largest markets for grease fittings and oil seals exported from Saudi Arabia worldwide, with a combined 90% share of total exports.

In terms of the main countries of destination, the United Arab Emirates, with a CAGR of +78.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

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, which is down by -72.3% against the previous year. Overall, the export price faced a deep downturn. The most prominent rate of growth was recorded in 2015 an increase of 243%. As a result, the export price attained the peak level of $X per unit. From 2016 to 2021, the the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Malaysia ($X per unit), while the average price for exports to Japan ($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 (+1.0%), 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 Saudi Arabia

In 2021, overseas purchases of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels were finally on the rise to reach X units after two years of decline. Overall, imports, however, faced a dramatic decrease. Imports peaked at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, grease fittings and oil seals imports contracted remarkably to $X in 2021. In general, imports, however, recorded a deep downturn. The most prominent rate of growth was recorded in 2013 with an increase of 109%. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

Thailand (X units), Denmark (X units) and Malaysia (X units) were the main suppliers of grease fittings and oil seals imports to Saudi Arabia, together accounting for 68% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Denmark (with a CAGR of 0.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Denmark ($X), Malaysia ($X) and South Africa ($X) appeared to be the largest grease fittings and oil seals suppliers to Saudi Arabia, together accounting for 1.2% of total imports.

In terms of the main suppliers, Malaysia, with a CAGR of +3.5%, recorded 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

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 -99.9% against the previous year. Over the period under review, the import price, however, continues to indicate a significant increase. The most prominent rate of growth was recorded in 2019 an increase of 141,517% against the previous year. As a result, import price reached the peak level of $X per unit. From 2020 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Greece (+24.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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