Saudi Arabia: Oil Dispensing Pump Market 2024

Oil Dispensing Pump Market Size in Saudi Arabia

In 2021, the Saudi oil dispensing pump market increased by 26% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption continues to indicate a moderate increase. Over the period under review, the market reached the peak level in 2021 and is expected to retain growth in the near future.

Oil Dispensing Pump Exports

Exports from Saudi Arabia

Oil dispensing pump exports from Saudi Arabia skyrocketed to X units in 2021, with an increase of 170% compared with the previous year's figure. Overall, exports saw significant growth. The pace of growth was the most pronounced in 2020 when exports increased by 283%. Over the period under review, the exports reached the maximum in 2021 and are likely to continue growth in years to come.

In value terms, oil dispensing pump exports surged to $X in 2021. Over the period under review, exports recorded a prominent expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The UK (X units) was the main destination for oil dispensing pump exports from Saudi Arabia, accounting for a 67% share of total exports. Moreover, oil dispensing pump exports to the UK exceeded the volume sent to the second major destination, the United Arab Emirates (X units), threefold. The third position in this ranking was held by Bahrain (X units), with a 4.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the UK stood at +54.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+48.3% per year) and Bahrain (+46.7% per year).

In value terms, Bahrain ($X) emerged as the key foreign market for petrol and oil dispensing pumps exports from Saudi Arabia, comprising 56% of total exports. The second position in the ranking was taken by the UK ($X), with a 16% share of total exports. It was followed by the United States, with a 6.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Bahrain totaled +58.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+12.8% per year) and the United States (+17.1% per year).

Export Prices by Country

The average oil dispensing pump export price stood at $X per unit in 2021, surging by 103% against the previous year. Over the period under review, the export price, however, recorded a deep contraction. The export price peaked at $X per unit in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Iraq ($X per unit), while the average price for exports to the UK ($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 Iraq (+40.3%), while the prices for the other major destinations experienced more modest paces of growth.

Oil Dispensing Pump Imports

Imports into Saudi Arabia

In 2021, the amount of petrol and oil dispensing pumps imported into Saudi Arabia skyrocketed to X units, with an increase of 53% on the previous year's figure. Over the period under review, imports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2020 with an increase of 153% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to see gradual growth in the immediate term.

In value terms, oil dispensing pump imports declined to $X in 2021. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by 88% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X units), Japan (X units) and the United States (X units) were the main suppliers of oil dispensing pump imports to Saudi Arabia, together accounting for 65% of total imports. These countries were followed by Mexico, Italy, India, South Korea and Taiwan (Chinese), which together accounted for a further 35%.

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 +32.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and Italy ($X) constituted the largest oil dispensing pump suppliers to Saudi Arabia, with a combined 54% share of total imports. India, Japan, Mexico, South Korea and Taiwan (Chinese) lagged somewhat behind, together comprising a further 17%.

In terms of the main suppliers, Taiwan (Chinese), with a CAGR of +7.9%, 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

The average oil dispensing pump import price stood at $X per unit in 2021, reducing by -34.9% against the previous year. Overall, the import price showed a deep slump. The most prominent rate of growth was recorded in 2013 an increase of 38%. Over the period under review, average import prices hit record highs at $X per unit in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+0.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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