Iran: Electrical Fuse Market 2024

Electrical Fuse Market Size in Iran

In 2021, the Iranian electrical fuse market increased by 23% to $X, rising for the second year in a row after two years of decline. In general, consumption showed a deep downturn. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Electrical Fuse Exports

Exports from Iran

In 2021, the amount of electrical fuses exported from Iran contracted dramatically to X tons, which is down by -53% compared with 2020 figures. In general, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when exports increased by 1,867%. Over the period under review, the exports attained the maximum at X tons in 2020, and then reduced remarkably in the following year.

In value terms, electrical fuse exports plummeted to $X in 2021. Over the period under review, exports recorded a noticeable descent. The most prominent rate of growth was recorded in 2016 with an increase of 1,626% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2020, and then reduced notably in the following year.

Exports by Country

Georgia (X tons) was the main destination for electrical fuse exports from Iran, accounting for a 73% share of total exports. Moreover, electrical fuse exports to Georgia exceeded the volume sent to the second major destination, Sri Lanka (X tons), fivefold. The third position in this ranking was held by Tajikistan (X kg), with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Georgia stood at -2.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sri Lanka (+8.5% per year) and Tajikistan (+92.7% per year).

In value terms, Georgia ($X) emerged as the key foreign market for electrical fuses exports from Iran, comprising 55% of total exports. The second position in the ranking was held by Sri Lanka ($X), with a 23% share of total exports. It was followed by Tajikistan, with a 5.7% share.

From 2012 to 2021, the average annual growth rate of value to Georgia totaled -8.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sri Lanka (+13.0% per year) and Tajikistan (+26.9% per year).

Export Prices by Country

The average electrical fuse export price stood at $X per ton in 2021, waning by -48.7% against the previous year. Over the period under review, the export price continues to indicate a perceptible reduction. The most prominent rate of growth was recorded in 2013 when the average export price increased by 80%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while the average price for exports to Azerbaijan ($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 Sri Lanka (+4.1%), while the prices for the other major destinations experienced mixed trend patterns.

Electrical Fuse Imports

Imports into Iran

Electrical fuse imports into Iran reduced to X tons in 2021, shrinking by -5.4% compared with the previous year's figure. Overall, imports recorded a deep setback. The growth pace was the most rapid in 2015 with an increase of 22%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, electrical fuse imports surged to $X in 2021. In general, imports saw a perceptible descent. The growth pace was the most rapid in 2014 when imports increased by 26% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest electrical fuse supplier to Iran, with a 71% share of total imports. Moreover, electrical fuse imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), sevenfold. The third position in this ranking was held by the United Arab Emirates (X tons), with a 2.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+22.9% per year) and the United Arab Emirates (-32.2% per year).

In value terms, China ($X) constituted the largest supplier of electrical fuses to Iran, comprising 43% of total imports. The second position in the ranking was taken by Turkey ($X), with a 16% share of total imports. It was followed by South Korea, with a 5.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +8.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+29.6% per year) and South Korea (-8.2% per year).

Import Prices by Country

In 2021, the average electrical fuse import price amounted to $X per ton, with an increase of 33% against the previous year. Over the period under review, the import price posted a prominent increase. The growth pace was the most rapid in 2014 an increase of 58%. Over the period under review, average import prices reached the maximum in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Bulgaria ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bulgaria (+28.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :