South-Eastern Asia: Oil Dispensing Pump Market 2024

Oil Dispensing Pump Market Size in South-Eastern Asia

In 2021, after two years of growth, there was significant decline in the Southeast Asian oil dispensing pump market, when its value decreased by -10.4% to $X. Overall, consumption, however, continues to indicate a noticeable shrinkage. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Oil Dispensing Pump Production in South-Eastern Asia

In value terms, oil dispensing pump production declined sharply to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2019 with an increase of 1,157%. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Oil Dispensing Pump Exports

Exports in South-Eastern Asia

In 2021, approx. X units of petrol and oil dispensing pumps were exported in South-Eastern Asia; growing by 141% against the previous year. Over the period under review, exports recorded pronounced growth. Over the period under review, the exports attained the peak figure at X units in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, oil dispensing pump exports skyrocketed to $X in 2021. Overall, exports, however, showed a deep slump. The most prominent rate of growth was recorded in 2015 when exports increased by 58% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Singapore represented the major exporting country with an export of about X units, which amounted to 68% of total exports. It was distantly followed by Thailand (X units), constituting a 26% share of total exports. Malaysia (X units) took a minor share of total exports.

Singapore was also the fastest-growing in terms of the petrol and oil dispensing pumps exports, with a CAGR of +8.7% from 2012 to 2021. Malaysia experienced a relatively flat trend pattern. Thailand (-2.3%) illustrated a downward trend over the same period. Singapore (+22 p.p.) significantly strengthened its position in terms of the total exports, while Malaysia and Thailand saw its share reduced by -1.8% and -20% from 2012 to 2021, respectively.

In value terms, Thailand ($X), Singapore ($X) and Malaysia ($X) were the countries with the highest levels of exports in 2021, with a combined 98% share of total exports.

Singapore, with a CAGR of +4.3%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per unit in 2021, which is down by -50.4% against the previous year. Over the period under review, the export price saw a abrupt descent. The pace of growth appeared the most rapid in 2015 when the export price increased by 113%. Over the period under review, the export prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Malaysia ($X per unit), while Singapore ($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 (+3.2%), while the other leaders experienced a decline in the export price figures.

Oil Dispensing Pump Imports

Imports in South-Eastern Asia

In 2021, supplies from abroad of petrol and oil dispensing pumps increased by 32% to X units for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +3.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, oil dispensing pump imports surged to $X in 2021. Total imports indicated modest growth from 2012 to 2021: its value increased at an average annual rate of +1.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 73%. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Indonesia represented the key importer of petrol and oil dispensing pumps in South-Eastern Asia, with the volume of imports finishing at X units, which was near 47% of total imports in 2021. Malaysia (X units) took a 17% share (based on physical terms) of total imports, which put it in second place, followed by Singapore (13%), Vietnam (7.3%), the Philippines (6%) and Thailand (5.6%). Myanmar (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to oil dispensing pump imports into Indonesia stood at +8.3%. At the same time, Singapore (+14.6%), the Philippines (+12.0%), Malaysia (+11.4%) and Vietnam (+6.4%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +14.6% from 2012-2021. By contrast, Myanmar (-3.1%) and Thailand (-16.7%) illustrated a downward trend over the same period. While the share of Indonesia (+15 p.p.), Malaysia (+8.2 p.p.), Singapore (+7.8 p.p.), the Philippines (+3.1 p.p.) and Vietnam (+1.6 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Myanmar (-2.2 p.p.) and Thailand (-33.8 p.p.) displayed negative dynamics.

In value terms, the largest oil dispensing pump importing markets in South-Eastern Asia were Indonesia ($X), Malaysia ($X) and the Philippines ($X), with a combined 63% share of total imports.

Among the main importing countries, Indonesia, with a CAGR of +12.8%, 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

In 2021, the import price in South-Eastern Asia amounted to $X per unit, declining by -8.9% against the previous year. Overall, the import price continues to indicate a mild slump. The most prominent rate of growth was recorded in 2013 when the import price increased by 40% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2021, the import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+9.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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