Oil Dispensing Pump Market

The global market for petrol and oil dispensing pumps is projected to experience continued growth in consumption, production, imports, and exports over the next 8 years. Market performance is forecasted to expand with an anticipated CAGR of +4.4% in consumption and +5.2% in value terms. Countries like the United States, China, and the UK are among the highest consumers and producers of oil dispensing pumps. India and Italy lead in exports, while the United States and Belgium are key importers. The market is expected to see steady growth with fluctuations in average prices and volumes traded.

Market Forecast

Driven by increasing demand for petrol and oil dispensing pumps worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +4.4% for the period from 2022 to 2030, which is projected to bring the market volume to 10M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.2% for the period from 2022 to 2030, which is projected to bring the market value to $9.3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Petrol And Oil Dispensing Pumps

In 2022, consumption of petrol and oil dispensing pumps decreased by -8.6% to 7.2M units, falling for the second year in a row after four years of growth. Over the period under review, consumption, however, enjoyed resilient growth. As a result, consumption attained the peak volume of 9.8M units. From 2021 to 2022, the growth of the global consumption failed to regain momentum.

The global oil dispensing pump market value reduced to $6.2B in 2022, declining by -12.7% 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). The market value increased at an average annual rate of +1.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $7.8B. From 2021 to 2022, the growth of the global market failed to regain momentum.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were the United States (1.5M units), China (901K units) and the UK (521K units), together accounting for 40% of global consumption. Belgium, the Netherlands, Russia, Saudi Arabia, Canada, Japan, Brazil, Germany, India and Mexico lagged somewhat behind, together accounting for 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 Belgium (with a CAGR of +35.8%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest oil dispensing pump markets worldwide were Brazil ($829M), China ($784M) and Japan ($622M), with a combined 36% share of the global market. The Netherlands, Mexico, the United States, Canada, the UK, Germany, Russia, Belgium, Saudi Arabia and India lagged somewhat behind, together comprising a further 30%.

Belgium, with a CAGR of +29.1%, recorded the highest growth rate of market size in terms of the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of oil dispensing pump per capita consumption in 2022 were Belgium (34 units per 1000 persons), the Netherlands (20 units per 1000 persons) and the UK (7.7 units per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +35.3%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Petrol And Oil Dispensing Pumps

After six years of growth, production of petrol and oil dispensing pumps decreased by -2.8% to 6.9M units in 2022. Overall, the total production indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +44.7% against 2015 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by 45%. As a result, production reached the peak volume of 7.2M units. From 2015 to 2022, global production growth failed to regain momentum.

In value terms, oil dispensing pump production reached $6.9B in 2022 estimated in export price. The total output value increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2014 when the production volume increased by 15%. Over the period under review, global production attained the peak level at $7B in 2020; however, from 2021 to 2022, production remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were China (1.6M units), Italy (1.1M units) and the Netherlands (1M units), with a combined 54% share of global production. India, Russia, Japan, Singapore, Brazil, Thailand and Mexico lagged somewhat behind, together comprising a further 32%.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +17.9%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Petrol And Oil Dispensing Pumps

In 2022, approx. 5.2M units of petrol and oil dispensing pumps were imported worldwide; with an increase of 3.6% on 2021. Overall, imports saw a prominent expansion. The most prominent rate of growth was recorded in 2015 when imports increased by 110% against the previous year. Over the period under review, global imports hit record highs at 7M units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, oil dispensing pump imports declined to $896M in 2022. The total import value increased at an average annual rate of +1.4% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 23% against the previous year. As a result, imports reached the peak of $978M, and then dropped in the following year.

Imports By Country

The United States was the key importer of petrol and oil dispensing pumps in the world, with the volume of imports resulting at 1.6M units, which was near 30% of total imports in 2022. The UK (672K units) took the second position in the ranking, followed by India (520K units), Belgium (519K units) and Saudi Arabia (251K units). All these countries together held approx. 37% share of total imports. Canada (222K units), Germany (126K units), Greece (94K units), Malaysia (93K units), Italy (86K units), Nepal (84K units) and Poland (81K units) took a little share of total imports.

Imports into the United States increased at an average annual rate of +18.0% from 2012 to 2022. At the same time, Belgium (+35.9%), Greece (+30.7%), India (+21.7%), Nepal (+20.6%), the UK (+16.6%), Canada (+16.2%), Germany (+16.0%), Poland (+9.4%), Saudi Arabia (+6.6%), Malaysia (+5.4%) and Italy (+2.3%) displayed positive paces of growth. Moreover, Belgium emerged as the fastest-growing importer imported in the world, with a CAGR of +35.9% from 2012-2022. While the share of the United States (+13 p.p.), Belgium (+8.5 p.p.), India (+5.7 p.p.) and the UK (+4.4 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of Italy (-2.4 p.p.) and Saudi Arabia (-2.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Canada ($64M), Belgium ($53M) and the United States ($53M) appeared to be the countries with the highest levels of imports in 2022, together comprising 19% of global imports.

Among the main importing countries, Belgium, with a CAGR of +19.0%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average oil dispensing pump import price stood at $171 per unit in 2022, falling by -11.6% against the previous year. In general, the import price saw a abrupt decrease. The most prominent rate of growth was recorded in 2021 when the average import price increased by 69%. Over the period under review, average import prices attained the peak figure at $475 per unit in 2014; however, from 2015 to 2022, import prices remained at a 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 Canada ($289 per unit), while Nepal ($14 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (-3.9%), while the other global leaders experienced a decline in the import price figures.

Exports

World Exports of Petrol And Oil Dispensing Pumps

In 2022, global exports of petrol and oil dispensing pumps soared to 4.9M units, with an increase of 16% against the previous year. Overall, exports continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 64% against the previous year. The global exports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, oil dispensing pump exports fell modestly to $898M in 2022. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 14% against the previous year. As a result, the exports reached the peak of $903M, leveling off in the following year.

Exports By Country

In 2022, India (1.4M units) and Italy (1.2M units) were the major exporters of petrol and oil dispensing pumpsin the world, together achieving 51% of total exports. The Netherlands (704K units) held the next position in the ranking, followed by China (661K units) and Singapore (229K units). All these countries together held approx. 32% share of total exports. The UK (173K units) and Belgium (128K units) held a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by the Netherlands (with a CAGR of +44.6%), while the other global leaders experienced more modest paces of growth.

In value terms, the UK ($127M), China ($106M) and the Netherlands ($70M) constituted the countries with the highest levels of exports in 2022, together accounting for 34% of global exports.

The Netherlands, with a CAGR of +13.5%, saw the highest rates of growth with regard to 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 2022, the average oil dispensing pump export price amounted to $182 per unit, with a decrease of -14% against the previous year. Overall, the export price saw a abrupt curtailment. The pace of growth appeared the most rapid in 2015 when the average export price increased by 53% against the previous year. Over the period under review, the average export prices hit record highs at $528 per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the UK ($733 per unit), while Singapore ($13 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+0.5%), while the other global leaders experienced a decline in the export price figures.

Source: IndexBox Market Intelligence Platform