United Arab Emirates: 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 the United Arab Emirates

The market for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels in the United Arab Emirates declined remarkably to $X in 2021, shrinking by -21.1% against the previous year. In general, consumption recorded a abrupt decrease. Grease fittings and oil seals consumption peaked at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Production of Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels in the United Arab Emirates

In value terms, grease fittings and oil seals production skyrocketed to $X in 2021 estimated in export price. In general, production, however, recorded a noticeable setback. The pace of growth was the most pronounced in 2017 with an increase of 75%. Grease fittings and oil seals production peaked at $X in 2015; however, from 2016 to 2021, production failed to regain momentum.

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

Exports from the United Arab Emirates

In 2021, overseas shipments of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels increased by 144% to X units for the first time since 2018, thus ending a two-year declining trend. In general, exports enjoyed buoyant growth. The growth pace was the most rapid in 2017 with an increase of 1,510% against the previous year. The exports peaked at X units in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, grease fittings and oil seals exports skyrocketed to $X in 2021. Over the period under review, exports recorded a buoyant increase. The most prominent rate of growth was recorded in 2017 when exports increased by 810%. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Saudi Arabia (X units) was the main destination for grease fittings and oil seals exports from the United Arab Emirates, accounting for a 35% share of total exports. Moreover, grease fittings and oil seals exports to Saudi Arabia exceeded the volume sent to the second major destination, the UK (X units), fourfold. Georgia (X units) ranked third in terms of total exports with an 8.7% share.

From 2012 to 2021, the average annual growth rate of volume to Saudi Arabia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+28.9% per year) and Georgia (+201.8% per year).

In value terms, Saudi Arabia ($X), Oman ($X) and the UK ($X) constituted the largest markets for grease fittings and oil seals exported from the United Arab Emirates worldwide, with a combined 42% share of total exports. These countries were followed by China, Singapore, Iraq, Pakistan, the Netherlands, Kuwait, Nigeria, Georgia, Azerbaijan and Spain, which together accounted for a further 22%.

Georgia, with a CAGR of +150.5%, recorded the highest growth rate of the value of exports, among 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, shrinking by -7% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the average export price increased by 132%. The export price peaked at $X per unit in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Singapore ($X per unit), while the average price for exports to Georgia ($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 Saudi Arabia (+2.8%), 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 the United Arab Emirates

In 2021, overseas purchases of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels decreased by -7.1% to X units for the first time since 2018, thus ending a two-year rising trend. In general, total imports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +6.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +66.5% against 2016 indices. The pace of growth was the most pronounced in 2020 when imports increased by 53%. As a result, imports attained the peak of X units, and then reduced in the following year.

In value terms, grease fittings and oil seals imports soared to $X in 2021. Over the period under review, total imports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +100.0% against 2016 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X units), India (X units) and Japan (X units) were the main suppliers of grease fittings and oil seals imports to the United Arab Emirates, with a combined 55% share of total imports. These countries were followed by France, the United States, Bangladesh, Thailand, Italy, Belgium, Germany, Spain, Taiwan (Chinese) and Saudi Arabia, which together accounted for a further 38%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of +79.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of grease fittings and oil seals to the United Arab Emirates, comprising 39% of total imports. The second position in the ranking was taken by the United States ($X), with a 10% share of total imports. It was followed by China, with an 8.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Japan totaled +21.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+4.6% per year) and China (+26.8% 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, rising by 48% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, average import prices reached the maximum at $X per unit in 2013; however, from 2014 to 2021, 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 Japan ($X per unit), while the price for Bangladesh ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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