Iceland: Artificial Lift Market 2020

Artificial Lift Market Size in Iceland

The revenue of the artificial lift market in Iceland amounted to $X in 2018, dropping by -X% 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). In general, artificial lift consumption continues to indicate a deep decline. The pace of growth appeared the most rapid in 2016 when the market value increased by X% against the previous year. Iceland artificial lift consumption peaked at $X in 2007; however, from 2008 to 2018, consumption remained at a lower figure.

Artificial Lift Exports

Exports from Iceland

In 2018, the amount of lifts and skip hoists exported from Iceland amounted to X units, going down by -X% against the previous year. Overall, artificial lift exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by X% y-o-y. Over the period under review, artificial lift exports attained their maximum at X units in 2014; however, from 2015 to 2018, exports failed to regain their momentum.

In value terms, artificial lift exports amounted to $X in 2018. Over the period under review, artificial lift exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of X% y-o-y. Over the period under review, artificial lift exports attained their peak figure at $X in 2014; however, from 2015 to 2018, exports remained at a lower figure.

Exports by Country

In 2018, China (X units), distantly followed by Italy (X units), Germany (X units), Spain (X units), Thailand (X units), the Netherlands (X units) and the U.S. (X units) were the key exporters of lifts and skip hoists, together constituting X% of total exports. The following exporters - Slovakia (X units), Belarus (X units), France (X units), Canada (X units) and Japan (X units) - together made up X% of total exports.

Exports from China increased at an average annual rate of +X% from 2007 to 2018. At the same time, Slovakia (+X%), Canada (+X%), Thailand (+X%), Belarus (+X%), the Netherlands (+X%), Spain (+X%), the U.S. (+X%), Germany (+X%) and Italy (+X%) displayed positive paces of growth. Moreover, Slovakia emerged as the fastest-growing exporter in the world, with a CAGR of +X% from 2007-2018. Japan experienced a relatively flat trend pattern. By contrast, France (-X%) illustrated a downward trend over the same period. While the share of China (+X p.p.), Thailand (+X p.p.), Slovakia (+X p.p.), Spain (+X p.p.), the Netherlands (+X p.p.), Canada (+X p.p.), the U.S. (+X p.p.), Belarus (+X p.p.) and Germany (+X p.p.) increased significantly in terms of the global exports from 2007-2018, the share of France (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest artificial lift supplier from Iceland, comprising X% of global exports. The second position in the ranking was occupied by Spain ($X), with a X% share of global exports. It was followed by Germany, with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of value in China amounted to +X%. The remaining exporting countries recorded the following average annual rates of exports growth: Spain (+X% per year) and Germany (+X% per year).

Export Prices by Country

The artificial lift export price in Iceland stood at $X per unit in 2018, dropping by -X% against the previous year. In general, the artificial lift export price continues to indicate a moderate setback. The most prominent rate of growth was recorded in 2013 an increase of X% y-o-y. In that year, the export prices for lifts and skip hoists reached their peak level of $X per unit. From 2014 to 2018, the growth in terms of the export prices for lifts and skip hoists remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was Spain ($X per unit), while Belarus ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China, while the other leaders experienced more modest paces of growth.

Artificial Lift Imports

Imports into Iceland

Artificial lift imports into Iceland amounted to X units in 2018, lowering by -X% against the previous year. Over the period under review, artificial lift imports continue to indicate a noticeable descent. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. Over the period under review, artificial lift imports attained their peak figure at X units in 2007; however, from 2008 to 2018, imports remained at a lower figure.

In value terms, artificial lift imports amounted to $X in 2018. Over the period under review, artificial lift imports continue to indicate an abrupt decline. The most prominent rate of growth was recorded in 2013 with an increase of X% year-to-year. Over the period under review, artificial lift imports attained their peak figure at $X in 2007; however, from 2008 to 2018, imports failed to regain their momentum.

Imports by Country

In 2018, Free Zones (X units) was the major importer of lifts and skip hoists, making up X% of total imports. Russia (X units) held the second position in the ranking, followed by the U.S. (X units). All these countries together occupied approx. X% share of total imports. Canada (X units), the UK (X units), Germany (X units), Saudi Arabia (X units), the Philippines (X units), Nauru (X units), Switzerland (X units), India (X units) and Australia (X units) held a minor share of total imports.

Imports into Free Zones increased at an average annual rate of +X% from 2007 to 2018. At the same time, Nauru (+X%), the U.S. (+X%), Saudi Arabia (+X%), the Philippines (+X%), India (+X%), Germany (+X%), Russia (+X%), Australia (+X%), Canada (+X%) and Switzerland (+X%) displayed positive paces of growth. Moreover, Nauru emerged as the fastest-growing importer in the world, with a CAGR of +X% from 2007-2018. The UK experienced a relatively flat trend pattern. Free Zones (+X p.p.), the U.S. (+X p.p.), Russia (+X p.p.), Nauru (+X p.p.), Saudi Arabia (+X p.p.), Germany (+X p.p.) and the Philippines (+X p.p.) significantly strengthened its position in terms of the global imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X), Russia ($X) and the UK ($X) constituted the countries with the highest levels of imports in 2018, together accounting for X% of total imports. These countries were followed by Canada, the U.S., Australia, Switzerland, Saudi Arabia, India, the Philippines, Iceland, Free Zones and Nauru, which together accounted for a further X Philippines recorded the highest rates of growth with regard to imports, among the main importing countries over the last eleven years, while the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2018, the artificial lift import price in Iceland amounted to $X per unit, going up by X% against the previous year. In general, the artificial lift import price, however, continues to indicate a slight descent. The most prominent rate of growth was recorded in 2013 when the import price increased by X% y-o-y. Iceland import price peaked at $X per unit in 2010; however, from 2011 to 2018, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Germany ($X per unit), while Nauru ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Canada, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform