South-Eastern Asia: 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 South-Eastern Asia

The Southeast Asian market for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels declined remarkably to $X in 2021, waning by -16% against the previous year. The market value increased at an average annual rate of +1.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X, and then declined notably in the following year.

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

In value terms, grease fittings and oil seals production reduced sharply to $X in 2021 estimated in export price. The total production indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +34.2% against 2016 indices. The growth pace was the most rapid in 2020 when the production volume increased by 54% against the previous year. As a result, production attained the peak level of $X, and then dropped markedly in the following year.

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

Exports in South-Eastern Asia

In 2021, approx. X units of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels were exported in South-Eastern Asia; therefore, remained relatively stable against 2020 figures. In general, exports saw a pronounced shrinkage. The pace of growth appeared the most rapid in 2014 with an increase of 69% against the previous year. As a result, the exports reached the peak of X units. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, grease fittings and oil seals exports declined slightly to $X in 2021. Over the period under review, exports, however, recorded measured growth. The pace of growth appeared the most rapid in 2014 when exports increased by 142% 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 somewhat lower figure.

Exports by Country

Singapore represented the largest exporter of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels in South-Eastern Asia, with the volume of exports resulting at X units, which was approx. 50% of total exports in 2021. Thailand (X units) took a 20% share (based on physical terms) of total exports, which put it in second place, followed by Malaysia (12%) and Vietnam (10%). The following exporters - Indonesia (X units) and Cambodia (X units) - together made up 6.9% of total exports.

Singapore experienced a relatively flat trend pattern with regard to volume of exports of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels. At the same time, Cambodia (+15.4%) and Thailand (+2.3%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +15.4% from 2012-2021. By contrast, Malaysia (-1.9%), Vietnam (-8.4%) and Indonesia (-14.5%) illustrated a downward trend over the same period. Thailand (+6.8 p.p.), Singapore (+6.7 p.p.) and Cambodia (+2.6 p.p.) significantly strengthened its position in terms of the total exports, while Vietnam and Indonesia saw its share reduced by -7.9% and -8.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) remains the largest grease fittings and oil seals supplier in South-Eastern Asia, comprising 58% of total exports. The second position in the ranking was held by Malaysia ($X), with an 18% share of total exports. It was followed by Thailand, with a 12% share.

In Singapore, grease fittings and oil seals exports expanded at an average annual rate of +11.4% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (+11.3% per year) and Thailand (-1.3% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per unit in 2021, with a decrease of -3.3% against the previous year. Export price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, grease fittings and oil seals export price decreased by -8.0% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the export price increased by 43%. Over the period under review, the export prices hit record highs at $X per unit in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+13.5%), while the other leaders experienced mixed trends in the export price figures.

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

Imports in South-Eastern Asia

In 2021, the amount of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels imported in South-Eastern Asia rose remarkably to X units, with an increase of 12% on the previous year's figure. Over the period under review, imports, however, recorded a drastic downturn. The most prominent rate of growth was recorded in 2017 when imports increased by 13%. The volume of import peaked at X units in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, grease fittings and oil seals imports declined modestly to $X in 2021. In general, imports, however, continue to indicate a deep downturn. The growth pace was the most rapid in 2017 with an increase of 9.6% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

The purchases of the five major importers of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels, namely Vietnam, Indonesia, Singapore, Malaysia and Thailand, represented more than two-thirds of total import. It was distantly followed by the Philippines (X units), committing an 8% share of total imports.

From 2012 to 2021, the biggest increases were in the Philippines (with a CAGR of +3.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest grease fittings and oil seals importing markets in South-Eastern Asia were Singapore ($X), Indonesia ($X) and Vietnam ($X), with a combined 71% share of total imports.

Vietnam, with a CAGR of +5.8%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per unit, reducing by -14% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.6%. The most prominent rate of growth was recorded in 2015 an increase of 26%. The level of import peaked at $X per unit in 2020, and then shrank in the following year.

Prices varied noticeably country of destination: the country with the highest price was Singapore ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+10.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :