Singapore: 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 Singapore

The Singaporean market for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels declined to $X in 2021, shrinking by -2.9% against the previous year. In general, consumption recorded a abrupt contraction. Grease fittings and oil seals consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

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

In value terms, grease fittings and oil seals production declined to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a prominent increase. The most prominent rate of growth was recorded in 2015 with an increase of 90%. Over the period under review, production reached the peak level at $X in 2016; however, from 2017 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 Singapore

Grease fittings and oil seals exports from Singapore shrank to X units in 2021, with a decrease of -5.8% on the previous year's figure. Overall, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when exports increased by 136%. As a result, the exports reached the peak of X units. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, grease fittings and oil seals exports reduced to $X in 2021. Over the period under review, exports, however, recorded a resilient increase. The pace of growth was the most pronounced in 2014 with an increase of 324% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Indonesia (X units), China (X units) and Malaysia (X units) were the main destinations of grease fittings and oil seals exports from Singapore, together comprising 62% of total exports. The Philippines, Thailand, Japan, Vietnam, Papua New Guinea, Qatar, South Korea, Hong Kong SAR, the Netherlands and Australia lagged somewhat behind, together accounting for a further 28%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Qatar (with a CAGR of +78.5%), while the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), China ($X) and Malaysia ($X) were the largest markets for grease fittings and oil seals exported from Singapore worldwide, with a combined 63% share of total exports. The Philippines, Thailand, Japan, Vietnam, Papua New Guinea, Qatar, South Korea, Hong Kong SAR, the Netherlands and Australia lagged somewhat behind, together accounting for a further 28%.

Among the main countries of destination, Qatar, with a CAGR of +100.3%, saw the highest growth rate of 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, waning by -4.8% against the previous year. In general, the export price, however, continues to indicate a remarkable increase. The growth pace was the most rapid in 2014 an increase of 80% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2020, and then contracted slightly in the following year.

Average prices varied noticeably for the major overseas markets. In 2021, the countries with the highest prices were the Philippines ($X per unit) and Vietnam ($X per unit), while the average price for exports to South Korea ($X per unit) and Malaysia ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+12.2%), 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 Singapore

In 2021, purchases abroad of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels was finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, saw a abrupt shrinkage. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, grease fittings and oil seals imports rose notably to $X in 2021. Over the period under review, imports, however, continue to indicate a deep slump. The most prominent rate of growth was recorded in 2015 with an increase of 43%. 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

Malaysia (X units), the United States (X units) and Germany (X units) were the main suppliers of grease fittings and oil seals imports to Singapore, with a combined 51% 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 Malaysia (with a CAGR of -1.9%), while imports for the other leaders experienced a decline.

In value terms, Malaysia ($X), the United States ($X) and Germany ($X) were the largest grease fittings and oil seals suppliers to Singapore, with a combined 51% share of total imports. These countries were followed by Japan, China, Italy, the UK, Indonesia, the Netherlands, India, the United Arab Emirates, France and Australia, which together accounted for a further 38%.

Among the main suppliers, the United Arab Emirates, with a CAGR of +12.1%, recorded the highest growth rate of 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 import price for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels stood at $X per unit in 2021, leveling off at the previous year. Overall, the import price, however, saw a resilient increase. The pace of growth appeared the most rapid in 2015 an increase of 131% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2020, and then reduced slightly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Australia ($X per unit), while the price for the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+34.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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