Spain: 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 Spain

In 2021, the Spanish market for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels decreased by -67.6% to $X, falling for the third year in a row after two years of growth. In general, consumption faced a deep reduction. Over the period under review, the market attained the peak level at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

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

In value terms, grease fittings and oil seals production expanded markedly to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 16%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

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

Exports from Spain

For the fourth year in a row, Spain recorded growth in shipments abroad of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels, which increased by 70% to X units in 2021. Over the period under review, exports recorded a significant expansion. The growth pace was the most rapid in 2016 with an increase of 134%. Over the period under review, the exports attained the maximum in 2021 and are likely to continue growth in the immediate term.

In value terms, grease fittings and oil seals exports shrank slightly to $X in 2021. In general, exports posted a resilient increase. The pace of growth appeared the most rapid in 2016 with an increase of 145%. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Denmark (X units) was the main destination for grease fittings and oil seals exports from Spain, with a 43% share of total exports. Moreover, grease fittings and oil seals exports to Denmark exceeded the volume sent to the second major destination, France (X units), fivefold. Germany (X units) ranked third in terms of total exports with an 8% share.

From 2012 to 2021, the average annual growth rate of volume to Denmark stood at +115.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+36.7% per year) and Germany (+41.7% per year).

In value terms, Denmark ($X), Germany ($X) and France ($X) were the largest markets for grease fittings and oil seals exported from Spain worldwide, together accounting for 38% of total exports.

Among the main countries of destination, Denmark, with a CAGR of +66.6%, recorded 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, reducing by -43.1% against the previous year. Overall, the export price saw a abrupt contraction. The pace of growth was the most pronounced in 2015 when the average export price increased by 16% against the previous year. The export price peaked at $X per unit in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Mexico ($X per unit), while the average price for exports to Denmark ($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 Poland (-4.8%), 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 Spain

In 2021, overseas purchases of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels increased by 163% to X units, rising for the second year in a row after two years of decline. Over the period under review, imports posted a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, grease fittings and oil seals imports totaled $X in 2021. In general, total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -25.3% against 2017 indices. The pace of growth appeared the most rapid in 2017 with an increase of 54%. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Portugal (X units), Germany (X units) and China (X units) were the main suppliers of grease fittings and oil seals imports to Spain, with a combined 58% share of total imports. Italy, Bulgaria, India, the UK, France, Denmark, Austria, Luxembourg, Turkey and the Netherlands lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2021, the biggest increases were in Bulgaria (with a CAGR of +104.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of grease fittings and oil seals to Spain, comprising 41% of total imports. The second position in the ranking was taken by Italy ($X), with a 10% share of total imports. It was followed by the Netherlands, with a 6.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany stood at +3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+3.4% per year) and the Netherlands (+20.0% 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, declining by -60.1% against the previous year. Over the period under review, the import price continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2019 an increase of 60% against the previous year. As a result, import price reached the peak level of $X per unit. From 2020 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the Netherlands ($X per unit), while the price for Portugal ($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 Netherlands (+10.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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