Iran: Bearing Market 2024

Bearing Market Size in Iran

The Iranian bearing market was finally on the rise to reach $X in 2022, after two years of decline. Over the period under review, the total consumption indicated a tangible increase 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, consumption decreased by X% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Bearing Exports

Exports from Iran

Bearing exports from Iran dropped rapidly to X tons in 2022, waning by X% against 2021. Over the period under review, exports, however, recorded a modest expansion. The growth pace was the most rapid in 2021 when exports increased by X%. As a result, the exports reached the peak of X tons, and then contracted significantly in the following year.

In value terms, bearing exports contracted rapidly to $X in 2022. Overall, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of $X, and then plummeted in the following year.

Exports by Country

The United Arab Emirates (X tons) was the main destination for bearing exports from Iran, accounting for a X% share of total exports. Moreover, bearing exports to the United Arab Emirates exceeded the volume sent to the second major destination, Canada (X kg), threefold. Tajikistan (X kg) ranked third in terms of total exports with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United Arab Emirates amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and Tajikistan (X% per year).

In value terms, Canada ($X), the United Arab Emirates ($X) and Tajikistan ($X) were the largest markets for bearing exported from Iran worldwide, together comprising X% of total exports.

The United Arab Emirates, with a CAGR of X%, saw 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

The average bearing export price stood at $X per ton in 2021, which is down by X% against the previous year. In general, the export price recorded a noticeable slump. The pace of growth was the most pronounced in 2015 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Azerbaijan ($X per ton) was amongst the lowest.

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

Bearing Imports

Imports into Iran

In 2022, supplies from abroad of ball or roller bearings increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports showed a prominent increase. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, bearing imports fell modestly to $X in 2022. In general, total imports indicated mild 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 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

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

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

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

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

Import Prices by Country

The average bearing import price stood at $X per ton in 2021, surging by X% against the previous year. In general, the import price, however, showed a drastic downturn. The most prominent rate of growth was recorded in 2014 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, 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 France (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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