Slovakia: 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 Slovakia

In 2021, the Slovak market for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, the total consumption indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Grease fittings and oil seals consumption peaked in 2021 and is likely to see steady growth in the immediate term.

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

In value terms, grease fittings and oil seals production surged to $X in 2021 estimated in export price. Over the period under review, production posted a strong increase. The growth pace was the most rapid in 2013 when the production volume increased by 89% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

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

Exports from Slovakia

After two years of growth, overseas shipments of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels decreased by -8.7% to X units in 2021. Over the period under review, exports, however, recorded a prominent expansion. The pace of growth was the most pronounced in 2020 when exports increased by 109% against the previous year. As a result, the exports reached the peak of X units, and then contracted in the following year.

In value terms, grease fittings and oil seals exports totaled $X in 2021. In general, exports, however, continue to indicate temperate growth. The pace of growth appeared the most rapid in 2013 when exports increased by 183%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Austria (X units), the UK (X units) and Germany (X units) were the main destinations of grease fittings and oil seals exports from Slovakia, with a combined 71% share of total exports. These countries were followed by the Czech Republic, China, France, Belgium and Spain, which together accounted for a further 22%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +340.6%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Austria ($X) and the Czech Republic ($X) appeared to be the largest markets for grease fittings and oil seals exported from Slovakia worldwide, with a combined 51% share of total exports. The UK, China, France, Spain and Belgium lagged somewhat behind, together accounting for a further 24%.

China, with a CAGR of +285.4%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

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, increasing by 9.9% against the previous year. Overall, the export price, however, recorded a noticeable shrinkage. The growth pace was the most rapid in 2013 an increase of 57% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2014 to 2021, the the average export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Spain ($X per unit), while the average price for exports to Austria ($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 Germany (-0.6%), while the prices for the other major destinations experienced a decline.

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

Imports into Slovakia

In 2021, purchases abroad of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels increased by 226% to X units, rising for the second consecutive year after two years of decline. Over the period under review, imports recorded a strong increase. Over the period under review, imports attained the peak figure at X units in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, grease fittings and oil seals imports soared to $X in 2021. In general, imports continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2017 with an increase of 95% against the previous year. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

Germany (X units), the Czech Republic (X units) and France (X units) were the main suppliers of grease fittings and oil seals imports to Slovakia, with a combined 85% share of total imports. Hungary, Poland, Belgium, Austria and Italy lagged somewhat behind, together accounting for a further 11%.

From 2012 to 2021, the biggest increases were in Poland (with a CAGR of +61.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of grease fittings and oil seals to Slovakia, comprising 41% of total imports. The second position in the ranking was taken by the Czech Republic ($X), with a 20% share of total imports. It was followed by France, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany totaled +7.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+26.0% per year) and France (+25.6% per year).

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, falling by -63.1% against the previous year. Over the period under review, the import price, however, saw perceptible growth. The pace of growth was the most pronounced in 2018 an increase of 138%. The import price peaked at $X per unit in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+12.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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