Overview of the Global Market for Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels

Market Size for Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels

The global market for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels fell to $X in 2021, shrinking by -7.6% against the previous year. The market value increased at an average annual rate of +3.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X, and then fell in the following year.

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

In value terms, grease fittings and oil seals production dropped to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 31%. As a result, production attained the peak level of $X, and then contracted in the following year.

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

Exports

Global grease fittings and oil seals exports skyrocketed to X units in 2021, jumping by 26% on the previous year's figure. Over the period under review, exports continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2020 with an increase of 75% against the previous year. Over the period under review, the global exports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, grease fittings and oil seals exports rose rapidly to $X in 2021. The total export value increased at an average annual rate of +4.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 12%. The global exports peaked in 2021 and are likely to see gradual growth in years to come.

Exports by Country

China was the major exporter of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels in the world, with the volume of exports finishing at X units, which was approx. 67% of total exports in 2021. It was distantly followed by Germany (X units), generating a 12% share of total exports. The Czech Republic (X units), Spain (X units) and the United States (X units) held a relatively small share of total exports.

Exports from China increased at an average annual rate of +19.0% from 2012 to 2021. At the same time, Spain (+23.9%), the Czech Republic (+17.6%), Germany (+9.6%) and the United States (+2.0%) displayed positive paces of growth. Moreover, Spain emerged as the fastest-growing exporter exported in the world, with a CAGR of +23.9% from 2012-2021. While the share of China (+26 p.p.) increased significantly in terms of the global exports from 2012-2021, the share of the United States (-2.2 p.p.) and Germany (-3.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Germany ($X) and the United States ($X) were the countries with the highest levels of exports in 2021, together comprising 48% of global exports.

China, with a CAGR of +12.8%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other global 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, falling by -12.6% against the previous year. In general, the export price continues to indicate a deep slump. The most prominent rate of growth was recorded in 2016 when the average export price increased by 13%. The global export price peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was the United States ($X per unit), while China ($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 United States (-0.1%), while the other global leaders experienced a decline in the export price figures.

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

Imports

In 2021, global imports of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels soared to X units, with an increase of 41% on the year before. Overall, total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +5.8% 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 +38.4% against 2018 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, grease fittings and oil seals imports surged to $X in 2021. The total import value increased at an average annual rate of +2.0% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when imports increased by 21%. Global imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Germany (X units), distantly followed by France (X units) and the United States (X units) were the main importers of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels, together generating 34% of total imports. The following importers - China (X units), Denmark (X units), Spain (X units), the Czech Republic (X units), Finland (X units), Austria (X units), Italy (X units), Poland (X units), the Netherlands (X units) and Marshall Islands (X units) - together made up 32% of total imports.

Imports into Germany increased at an average annual rate of +10.9% from 2012 to 2021. At the same time, Marshall Islands (+48.1%), Denmark (+25.3%), Finland (+19.4%), Spain (+14.9%), France (+12.3%), the Czech Republic (+12.2%), Austria (+10.8%), Poland (+10.4%), Italy (+7.2%), the United States (+3.6%) and China (+1.6%) displayed positive paces of growth. Moreover, Marshall Islands emerged as the fastest-growing importer imported in the world, with a CAGR of +48.1% from 2012-2021. By contrast, the Netherlands (-1.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Germany, France, Denmark, Marshall Islands, Finland and Spain increased by +6.6, +3.8, +3.2, +2.1, +2.1 and +2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X), China ($X) and the United States ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 27% of global imports. These countries were followed by France, the Netherlands, Italy, Marshall Islands, Austria, Spain, Poland, the Czech Republic, Denmark and Finland, which together accounted for a further 22%.

Marshall Islands, with a CAGR of +35.0%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels amounted to $X per unit, waning by -17.9% against the previous year. Overall, the import price saw a noticeable contraction. The most prominent rate of growth was recorded in 2013 an increase of 5.7%. Over the period under review, average import prices hit record highs at $X per unit in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was China ($X per unit), while Finland ($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 (+4.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :