Southern Asia: Market for Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines 2024

Market Size for Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines in Southern Asia

The South Asian fuel or lubricating pump market reduced to $X in 2021, dropping by -4% against the previous year. The market value increased at an average annual rate of +3.7% over the period from 2012 to 2021; 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 reduced slightly in the following year.

Production of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines in Southern Asia

In value terms, fuel or lubricating pump production declined to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.9% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 16% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Exports of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines

Exports in Southern Asia

In 2021, overseas shipments of fuel, lubricating or cooling-medium pumps for internal combustion engines increased by 63% to X units for the first time since 2017, thus ending a three-year declining trend. Overall, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 110%. As a result, the exports attained the peak of X units. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, fuel or lubricating pump exports surged to $X in 2021. In general, exports recorded a buoyant expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 105%. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The biggest shipments were from India (X units), together accounting for 99% of total export.

India experienced a relatively flat trend pattern with regard to volume of exports of fuel, lubricating or cooling-medium pumps for internal combustion engines. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest fuel or lubricating pump supplier in Southern Asia.

In India, fuel or lubricating pump exports expanded at an average annual rate of +6.0% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per unit, with a decrease of -1.9% against the previous year. Export price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, fuel or lubricating pump export price increased by +28.0% against 2017 indices. The pace of growth was the most pronounced in 2014 when the export price increased by 45%. The level of export peaked at $X per unit in 2020, and then reduced modestly in the following year.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2021, the rate of growth in terms of prices for India amounted to +6.2% per year.

Imports of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines

Imports in Southern Asia

In 2021, fuel or lubricating pump imports in Southern Asia soared to X units, with an increase of 35% against the previous year. In general, imports showed a resilient expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 40% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, fuel or lubricating pump imports soared to $X in 2021. Overall, imports continue to indicate resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

India was the key importer of fuel, lubricating or cooling-medium pumps for internal combustion engines in Southern Asia, with the volume of imports reaching X units, which was approx. 75% of total imports in 2021. It was distantly followed by Pakistan (X units), achieving a 19% share of total imports. Bangladesh (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to fuel or lubricating pump imports into India stood at +9.6%. At the same time, Bangladesh (+12.1%) and Pakistan (+11.1%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +12.1% from 2012-2021. While the share of Pakistan (+2 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported fuel, lubricating or cooling-medium pumps for internal combustion engines in Southern Asia, comprising 85% of total imports. The second position in the ranking was taken by Pakistan ($X), with an 11% share of total imports.

In India, fuel or lubricating pump imports expanded at an average annual rate of +8.3% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Pakistan (+10.8% per year) and Bangladesh (+12.3% per year).

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per unit, with an increase of 19% against the previous year. Over the period under review, the import price, however, continues to indicate a mild decline. Over the period under review, import prices attained the maximum at $X per unit in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bangladesh (+0.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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