Fuel Or Lubricating Pump Market

The global fuel or lubricating pump market is anticipated to experience a slight growth trend over the next eight years, with a projected CAGR of +2.0% in volume and +3.6% in value from 2022 to 2030. Consumption patterns, production volumes, import and export data have been analyzed, revealing fluctuations and trends in various countries such as China, the United States, India, and the UK. Significant growth rates were recorded in certain countries, while others showed more modest paces of growth. Import and export prices also varied by country, with the United States having the highest export price per unit. Overall, the market performance is forecasted to increase slightly, with consumption trends showing both peaks and declines over the analyzed period.

Market Forecast

Driven by rising demand for fuel or lubricating pump worldwide, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +2.0% for the period from 2022 to 2030, which is projected to bring the market volume to 704M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.6% for the period from 2022 to 2030, which is projected to bring the market value to $39.5B (in nominal prices) by the end of 2030.

Consumption

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

Global fuel or lubricating pump consumption reduced to 603M units in 2022, which is down by -4.3% on 2021 figures. In general, consumption continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 5.1%. Global consumption peaked at 671M units in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

The global fuel or lubricating pump market revenue contracted to $29.9B in 2022, with a decrease of -2.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a pronounced slump. The pace of growth was the most pronounced in 2021 when the market value increased by 6.7% against the previous year. Global consumption peaked at $36.7B in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (122M units), the United States (73M units) and India (55M units), with a combined 42% share of global consumption. The UK, Japan, Russia, Brazil, Indonesia, Mexico, France, South Korea, Italy and Thailand lagged somewhat behind, together comprising a further 33%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by the UK (with a CAGR of +10.6%), while consumption for the other global leaders experienced mixed trends in the consumption figures.

In value terms, Japan ($4.1B), Indonesia ($3.5B) and the United States ($3.3B) appeared to be the countries with the highest levels of market value in 2022, together comprising 36% of the global market. The UK, China, Russia, India, South Korea, Brazil, France, Mexico, Italy and Thailand lagged somewhat behind, together accounting for a further 31%.

The UK, with a CAGR of +11.7%, saw the highest rates of growth with regard to market size among the main consuming countries over the period under review, while market for the other global leaders experienced mixed trends in the market figures.

In 2022, the highest levels of fuel or lubricating pump per capita consumption was registered in the UK (612 units per 1000 persons), followed by South Korea (228 units per 1000 persons), the United States (219 units per 1000 persons) and Japan (207 units per 1000 persons), while the world average per capita consumption of fuel or lubricating pump was estimated at 76 units per 1000 persons.

In the UK, fuel or lubricating pump per capita consumption increased at an average annual rate of +10.0% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: South Korea (-0.9% per year) and the United States (+3.1% per year).

Production

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

Global fuel or lubricating pump production dropped slightly to 561M units in 2022, remaining relatively unchanged against 2021 figures. In general, production showed a mild descent. The most prominent rate of growth was recorded in 2016 when the production volume increased by 4.4%. Global production peaked at 629M units in 2018; however, from 2019 to 2022, production remained at a lower figure.

In value terms, fuel or lubricating pump production declined slightly to $27.5B in 2022 estimated in export price. Overall, production continues to indicate a mild decrease. The growth pace was the most rapid in 2017 with an increase of 7.4% against the previous year. Over the period under review, global production hit record highs at $31.6B in 2012; however, from 2013 to 2022, production failed to regain momentum.

Production By Country

China (205M units) constituted the country with the largest volume of fuel or lubricating pump production, comprising approx. 37% of total volume. Moreover, fuel or lubricating pump production in China exceeded the figures recorded by the second-largest producer, India (54M units), fourfold. The UK (27M units) ranked third in terms of total production with a 4.9% share.

In China, fuel or lubricating pump production expanded at an average annual rate of +1.4% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: India (-1.0% per year) and the UK (+13.8% per year).

Imports

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

In 2022, global imports of fuel, lubricating or cooling-medium pumps for internal combustion engines reduced slightly to 374M units, dropping by -4.4% compared with the previous year's figure. The total import volume increased at an average annual rate of +4.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 13% against the previous year. As a result, imports attained the peak of 391M units, and then contracted slightly in the following year.

In value terms, fuel or lubricating pump imports contracted modestly to $13.8B in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 17%. Global imports peaked at $14.3B in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports By Country

In 2022, the United States (68M units), distantly followed by Germany (29M units) and Mexico (29M units) represented the key importers of fuel, lubricating or cooling-medium pumps for internal combustion engines, together committing 34% of total imports. The UK (16M units), China (16M units), France (13M units), Thailand (12M units), India (12M units), Brazil (12M units), Poland (11M units), the Czech Republic (11M units), Hungary (10M units) and Slovakia (9.4M units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to fuel or lubricating pump imports into the United States stood at +2.2%. At the same time, Slovakia (+17.2%), India (+14.3%), Germany (+13.2%), Poland (+5.0%), China (+4.2%), Thailand (+3.1%), the UK (+3.1%), Mexico (+2.6%), Brazil (+2.5%), France (+2.3%) and Hungary (+1.5%) displayed positive paces of growth. Moreover, Slovakia emerged as the fastest-growing importer imported in the world, with a CAGR of +17.2% from 2012-2022. The Czech Republic experienced a relatively flat trend pattern. From 2012 to 2022, the share of Germany, India and Slovakia increased by +4.5, +1.9 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($2.9B) constitutes the largest market for imported fuel, lubricating or cooling-medium pumps for internal combustion engines worldwide, comprising 21% of global imports. The second position in the ranking was taken by Germany ($1.3B), with a 9.2% share of global imports. It was followed by China, with a 5.4% share.

In the United States, fuel or lubricating pump imports increased at an average annual rate of +2.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Germany (-0.4% per year) and China (+1.6% per year).

Import Prices By Country

The average fuel or lubricating pump import price stood at $37 per unit in 2022, with an increase of 3.5% against the previous year. In general, the import price, however, continues to indicate a noticeable descent. The most prominent rate of growth was recorded in 2021 an increase of 3.5% against the previous year. Over the period under review, average import prices reached the maximum at $50 per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($47 per unit), while Slovakia ($19 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+2.9%), while the other global leaders experienced more modest paces of growth.

Exports

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

In 2022, shipments abroad of fuel, lubricating or cooling-medium pumps for internal combustion engines increased by 1.6% to 332M units, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of +3.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 14% against the previous year. Over the period under review, the global exports hit record highs at 334M units in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, fuel or lubricating pump exports shrank slightly to $13.2B in 2022. The total export value increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2021 when exports increased by 15% against the previous year. The global exports peaked at $14.1B in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports By Country

In 2022, China (99M units), distantly followed by Germany (51M units), Mexico (25M units), Italy (17M units), the Czech Republic (16M units) and Romania (16M units) were the major exporters of fuel, lubricating or cooling-medium pumps for internal combustion engines, together mixing up 67% of total exports. France (12M units), the United States (12M units), India (11M units), Thailand (11M units), Spain (6.8M units), Poland (6.5M units) and Turkey (6.5M units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Romania (with a CAGR of +32.1%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest fuel or lubricating pump supplying countries worldwide were Germany ($2.6B), China ($1.3B) and the United States ($1.2B), together accounting for 39% of global exports. The Czech Republic, Mexico, Italy, France, Romania, Thailand, Turkey, India, Poland and Spain lagged somewhat behind, together accounting for a further 36%.

In terms of the main exporting countries, Turkey, with a CAGR of +21.2%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average fuel or lubricating pump export price amounted to $40 per unit, falling by -3.6% against the previous year. Over the period under review, the export price showed a noticeable setback. The pace of growth was the most pronounced in 2014 an increase of 4.6%. The global export price peaked at $49 per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($102 per unit), while China ($13 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+3.7%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform