Ethiopia: 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 Ethiopia

In 2023, the Ethiopian market for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels was finally on the rise to reach $X for the first time since 2018, thus ending a four-year declining trend. In general, consumption recorded buoyant growth. Grease fittings and oil seals consumption peaked at $X in 2018; however, from 2019 to 2023, consumption remained at a lower figure.

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

In value terms, grease fittings and oil seals production stood at $X in 2023 estimated in export price. Over the period under review, production recorded a drastic downturn. The most prominent rate of growth was recorded in 2021 with a decrease of X% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2023, production remained at a lower figure.

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

Exports from Ethiopia

In 2023, after three years of growth, there was significant decline in overseas shipments of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels, when their volume decreased by X% to X units. In general, exports, however, showed significant growth. The growth pace was the most rapid in 2016 when exports increased by X% against the previous year. As a result, the exports attained the peak of X units. From 2017 to 2023, the growth of the exports remained at a lower figure.

In value terms, grease fittings and oil seals exports declined to $X in 2023. Over the period under review, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by X%. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2023, the exports failed to regain momentum.

Exports by Country

Singapore (X units) was the main destination for grease fittings and oil seals exports from Ethiopia, with a X% share of total exports. It was followed by Tanzania (X units), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of volume to Singapore stood at X%.

In value terms, Singapore ($X) remains the key foreign market for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels exports from Ethiopia, comprising X% of total exports. The second position in the ranking was held by Tanzania ($X), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of value to Singapore amounted to X%.

Export Prices by Country

The average export price for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels stood at $X per unit in 2023, rising by X% against the previous year. Overall, the export price, however, saw a sharp reduction. The pace of growth was the most pronounced in 2014 when the average export price increased by X%. The export price peaked at $X per unit in 2015; however, from 2016 to 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per unit), while the average price for exports to Tanzania amounted to less than $X per unit.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (X%).

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

Imports into Ethiopia

After two years of growth, overseas purchases of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels decreased by X% to X units in 2023. Overall, imports saw a abrupt descent. The pace of growth was the most pronounced in 2022 with an increase of X% against the previous year. Imports peaked at X units in 2018; however, from 2019 to 2023, imports failed to regain momentum.

In value terms, grease fittings and oil seals imports reduced remarkably to $X in 2023. Over the period under review, imports, however, enjoyed a noticeable increase. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2016; however, from 2017 to 2023, imports failed to regain momentum.

Imports by Country

Japan (X units), Italy (X units) and Taiwan (Chinese) (X units) were the main suppliers of grease fittings and oil seals imports to Ethiopia, with a combined X% share of total imports. China, Germany, the United Arab Emirates, Belgium, India, the UK, the United States, Turkey and Canada lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the biggest increases were recorded for Belgium (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest grease fittings and oil seals suppliers to Ethiopia were Japan ($X), Italy ($X) and Taiwan (Chinese) ($X), together accounting for X% of total imports. Germany, the United Arab Emirates, China, the United States, Belgium, India, the UK, Turkey and Canada lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Belgium, with a CAGR of X%, recorded the highest growth rate of 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 2023, growing by X% against the previous year. Overall, the import price enjoyed strong growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per unit), while the price for the UK ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform