Eastern Asia: Oil Dispensing Pump Market 2024

Oil Dispensing Pump Market Size in Eastern Asia

The East Asian oil dispensing pump market totaled $X.9B in 2022, surging by X% against the previous year. In general, consumption, however, continues to indicate a noticeable curtailment. The level of consumption peaked at $X.1B in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Oil Dispensing Pump Production in Eastern Asia

In value terms, oil dispensing pump production rose markedly to $X.3B in 2022 estimated in export price. Overall, production, however, showed a perceptible contraction. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The level of production peaked at $X.3B in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Oil Dispensing Pump Exports

Exports in Eastern Asia

In 2022, after six years of growth, there was significant decline in shipments abroad of petrol and oil dispensing pumps, when their volume decreased by X% to X units. Overall, exports, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2018 when exports increased by X%. Over the period under review, the exports hit record highs at X units in 2021, and then reduced in the following year.

In value terms, oil dispensing pump exports reduced to $X in 2022. In general, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. The level of export peaked at $X in 2021, and then dropped in the following year.

Exports by Country

China dominates exports structure, accounting for X units, which was approx. X% of total exports in 2022. Japan (X units) took a relatively small share of total exports.

China was also the fastest-growing in terms of the petrol and oil dispensing pumps exports, with a CAGR of X% from 2012 to 2022. Japan (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Japan (X p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest oil dispensing pump supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was held by Japan ($X), with a X% share of total exports.

In China, oil dispensing pump exports increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2022, falling by X% against the previous year. In general, the export price continues to indicate a deep slump. The growth pace was the most rapid in 2015 when the export price increased by X%. Over the period under review, the export prices reached the maximum at $X per unit in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

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 Japan ($X per unit), while China totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (X%).

Oil Dispensing Pump Imports

Imports in Eastern Asia

In 2022, purchases abroad of petrol and oil dispensing pumps increased by X% to X units, rising for the third year in a row after two years of decline. In general, imports posted a strong increase. The pace of growth was the most pronounced in 2014 when imports increased by X%. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, oil dispensing pump imports shrank to $X in 2022. Total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2018 indices. The growth pace was the most rapid in 2014 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then reduced in the following year.

Imports by Country

Taiwan (Chinese) was the largest importing country with an import of around X units, which finished at X% of total imports. It was distantly followed by Hong Kong SAR (X units), South Korea (X units) and China (X units), together mixing up a X% share of total imports.

Imports into Taiwan (Chinese) increased at an average annual rate of X% from 2012 to 2022. At the same time, Hong Kong SAR (X%) and South Korea (X%) displayed positive paces of growth. Moreover, Hong Kong SAR emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, China (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Taiwan (Chinese), Hong Kong SAR and South Korea increased by X, X and X percentage points, respectively.

In value terms, Taiwan (Chinese) ($X) constitutes the largest market for imported petrol and oil dispensing pumps in Eastern Asia, comprising X% of total imports. The second position in the ranking was held by South Korea ($X), with a X% share of total imports. It was followed by China, with an X% share.

From 2012 to 2022, the average annual growth rate of value in Taiwan (Chinese) amounted to X%. In the other countries, the average annual rates were as follows: South Korea (X% per year) and China (X% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2022, shrinking by X% against the previous year. Overall, the import price continues to indicate a deep contraction. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. The level of import peaked at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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