Iran: Electrical Circuit Apparatus Market 2022

Electrical Circuit Apparatus Market Size in Iran

In 2021, the Iranian electrical circuit apparatus market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. In general, consumption, however, continues to indicate a noticeable downturn. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Electrical Circuit Apparatus Exports

Exports from Iran

In 2021, exports of electrical apparatus for circuit connection, switching and protection from Iran expanded notably to X tons, with an increase of 7.5% against the previous year. Overall, exports saw a prominent increase. The pace of growth appeared the most rapid in 2016 with an increase of 80%. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, electrical circuit apparatus exports shrank to $X in 2021. In general, exports showed prominent growth. The growth pace was the most rapid in 2016 when exports increased by 45%. The exports peaked at $X in 2020, and then dropped in the following year.

Exports by Country

Turkey (X tons), Georgia (X tons) and Tajikistan (X tons) were the main destinations of electrical circuit apparatus exports from Iran, with a combined 75% share of total exports. Armenia, Oman, Spain, Azerbaijan and the United Arab Emirates lagged somewhat behind, together comprising a further 20%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Oman (with a CAGR of +156.7%), while the other leaders experienced more modest paces of growth.

In value terms, Tajikistan ($X), Turkey ($X) and Georgia ($X) constituted the largest markets for electrical circuit apparatus exported from Iran worldwide, together comprising 70% of total exports.

Tajikistan, with a CAGR of +184.7%, saw the highest growth rate of the value of exports, among 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 electrical circuit apparatus export price stood at $X per ton in 2021, waning by -12.2% against the previous year. Overall, the export price showed a slight downturn. The pace of growth appeared the most rapid in 2017 when the average export price increased by 46% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Tajikistan ($X per ton), while the average price for exports to Oman ($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 Tajikistan (+15.6%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Circuit Apparatus Imports

Imports into Iran

In 2021, supplies from abroad of electrical apparatus for circuit connection, switching and protection was finally on the rise to reach X tons after four years of decline. Overall, imports, however, saw a noticeable curtailment. The growth pace was the most rapid in 2014 when imports increased by 16% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, electrical circuit apparatus imports amounted to $X in 2021. In general, imports, however, continue to indicate a perceptible reduction. The growth pace was the most rapid in 2014 with an increase of 23% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest electrical circuit apparatus supplier to Iran, with a 69% share of total imports. Moreover, electrical circuit apparatus imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), threefold. The third position in this ranking was held by Italy (X tons), with a 3.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+3.0% per year) and Italy (-3.7% per year).

In value terms, the largest electrical circuit apparatus suppliers to Iran were China ($X), Turkey ($X) and Germany ($X), together comprising 87% of total imports.

Turkey, with a CAGR of +10.5%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average electrical circuit apparatus import price amounted to $X per ton, waning by -3.9% against the previous year. In general, the import price continues to indicate a slight contraction. The growth pace was the most rapid in 2017 an increase of 20% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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