Iran: Ball Bearing Market 2024

Ball Bearing Market Size in Iran

The Iranian ball bearing market soared to $X in 2021, jumping by 15% 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). Overall, the total consumption indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +8.0% against 2017 indices. Ball bearing consumption peaked in 2021 and is likely to see steady growth in the immediate term.

Ball Bearing Exports

Exports from Iran

In 2021, the amount of ball bearings exported from Iran reached X tons, stabilizing at the previous year. Overall, exports, however, recorded a abrupt slump. The growth pace was the most rapid in 2016 when exports increased by 621%. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, ball bearing exports expanded remarkably to $X in 2021. Over the period under review, exports, however, recorded a abrupt decrease. The growth pace was the most rapid in 2016 with an increase of 308%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for ball bearing exports from Iran, accounting for a 84% share of total exports. Moreover, ball bearing exports to the United Arab Emirates exceeded the volume sent to the second major destination, Azerbaijan (X kg), sixfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United Arab Emirates totaled +46.6%.

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for ball bearings exports from Iran, comprising 92% of total exports. The second position in the ranking was taken by Azerbaijan ($X), with a 4.6% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United Arab Emirates totaled +37.0%.

Export Prices by Country

In 2021, the average ball bearing export price amounted to $X per ton, increasing by 5.2% against the previous year. In general, the export price, however, showed a abrupt contraction. The most prominent rate of growth was recorded in 2014 an increase of 256% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Azerbaijan stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Sudan (+15.6%), while the prices for the other major destinations experienced more modest paces of growth.

Ball Bearing Imports

Imports into Iran

Ball bearing imports into Iran soared to X tons in 2021, with an increase of 33% against 2020. In general, imports enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2017 with an increase of 63%. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

In value terms, ball bearing imports expanded sharply to $X in 2021. Overall, total imports indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -2.6% against 2017 indices. The most prominent rate of growth was recorded in 2017 with an increase of 43%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of ball bearing to Iran, accounting for a 65% share of total imports. Moreover, ball bearing imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), threefold. The United Arab Emirates (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +27.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+37.0% per year) and the United Arab Emirates (-10.5% per year).

In value terms, China ($X) constituted the largest supplier of ball bearings to Iran, comprising 56% of total imports. The second position in the ranking was held by Turkey ($X), with a 27% share of total imports. It was followed by the United Arab Emirates, with a 10% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +10.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+34.9% per year) and the United Arab Emirates (-12.0% per year).

Import Prices by Country

The average ball bearing import price stood at $X per ton in 2021, dropping by -18% against the previous year. In general, the import price showed a perceptible decrease. The most prominent rate of growth was recorded in 2015 an increase of 31%. As a result, import price reached the peak level of $X per ton. From 2016 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+8.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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