Vietnam: Market for Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels 2024

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

The Vietnamese market for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels expanded markedly to $X in 2022, increasing by X% against the previous year. Over the period under review, consumption showed a resilient increase. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

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

In value terms, grease fittings and oil seals production rose notably to $X in 2022 estimated in export price. In general, production saw a prominent increase. The most prominent rate of growth was recorded in 2020 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

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

Exports from Vietnam

For the third consecutive year, Vietnam recorded growth in shipments abroad of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels, which increased by X% to X units in 2022. Over the period under review, exports posted a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of X%. The exports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, grease fittings and oil seals exports surged to $X in 2022. In general, exports continue to indicate a significant increase. The growth pace was the most rapid in 2014 when exports increased by X%. The exports peaked in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Mexico (X units), Japan (X units) and China (X units) were the main destinations of grease fittings and oil seals exports from Vietnam, with a combined X% share of total exports.

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

In value terms, Mexico ($X), Japan ($X) and China ($X) were the largest markets for grease fittings and oil seals exported from Vietnam worldwide, together accounting for X% of total exports.

Mexico, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of 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

In 2022, the average export price for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels amounted to $X per unit, waning by X% against the previous year. Overall, export price indicated notable growth from 2012 to 2022: its price 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, grease fittings and oil seals export price decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per unit in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Mexico ($X per unit) and Japan ($X per unit), while the average price for exports to Germany ($X per unit) and Singapore ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (X%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into Vietnam

In 2022, overseas purchases of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels decreased by X% to X units, falling for the third year in a row after two years of growth. Over the period under review, imports showed a deep downturn. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. As a result, imports attained the peak of X units. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, grease fittings and oil seals imports fell to $X in 2022. In general, imports recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2018 with an increase of X%. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

Germany (X units), Japan (X units) and China (X units) were the main suppliers of grease fittings and oil seals imports to Vietnam, together accounting for X% of total imports. South Korea, India, Indonesia, the United States, Taiwan (Chinese), Finland, Thailand, Norway and the Netherlands lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest grease fittings and oil seals suppliers to Vietnam were Germany ($X), Japan ($X) and China ($X), with a combined X% share of total imports. South Korea, India, Indonesia, the United States, Taiwan (Chinese), Finland, Thailand, Norway and the Netherlands lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Indonesia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

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 2022, increasing by X% against the previous year. Overall, the import price, however, showed a slight reduction. The pace of growth was the most pronounced in 2020 when the average import price increased by X%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Thailand ($X per unit) and the Netherlands ($X per unit), while the price for Norway ($X per unit) and Finland ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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