Iran: Market for Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines 2024

Market Size for Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines in Iran

The Iranian fuel or lubricating pump market shrank to $X in 2021, reducing by -13.5% 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, consumption continues to indicate a noticeable contraction. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Exports of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines

Exports from Iran

After three years of growth, overseas shipments of fuel, lubricating or cooling-medium pumps for internal combustion engines decreased by -16.8% to X units in 2021. Overall, exports, however, posted a remarkable increase. The most prominent rate of growth was recorded in 2018 with an increase of 191% against the previous year. The exports peaked at X units in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, fuel or lubricating pump exports shrank sharply to $X in 2021. In general, exports, however, showed a notable increase. The growth pace was the most rapid in 2015 with an increase of 438% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Tajikistan (X units) was the main destination for fuel or lubricating pump exports from Iran, accounting for a 71% share of total exports. Moreover, fuel or lubricating pump exports to Tajikistan exceeded the volume sent to the second major destination, Turkey (X units), fourfold. Oman (X units) ranked third in terms of total exports with a 3.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Tajikistan amounted to +57.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+56.3% per year) and Oman (+39.8% per year).

In value terms, Turkey ($X), Tajikistan ($X) and Azerbaijan ($X) were the largest markets for fuel or lubricating pump exported from Iran worldwide, with a combined 97% share of total exports.

Among the main countries of destination, Turkey, with a CAGR of +36.5%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average fuel or lubricating pump export price stood at $X per unit in 2021, reducing by -61.6% against the previous year. Overall, the export price showed a deep reduction. The growth pace was the most rapid in 2015 an increase of 115% against the previous year. The export price peaked at $X per unit in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Azerbaijan ($X per unit), while the average price for exports to Oman (less than $X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+11.1%), while the prices for the other major destinations experienced a decline.

Imports of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines

Imports into Iran

In 2021, fuel or lubricating pump imports into Iran contracted notably to X units, with a decrease of -39.1% compared with the previous year's figure. Overall, imports showed a deep contraction. The most prominent rate of growth was recorded in 2014 with an increase of 100%. As a result, imports reached the peak of X units. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, fuel or lubricating pump imports soared to $X in 2021. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when imports increased by 62% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest fuel or lubricating pump supplier to Iran, with a 71% share of total imports. Moreover, fuel or lubricating pump imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X units), sixfold. The third position in this ranking was held by Bosnia and Herzegovina (X units), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+12.2% per year) and Bosnia and Herzegovina (+15.0% per year).

In value terms, the largest fuel or lubricating pump suppliers to Iran were China ($X), Turkey ($X) and Bosnia and Herzegovina ($X), with a combined 79% share of total imports.

Turkey, with a CAGR of +15.9%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average fuel or lubricating pump import price stood at $X per unit in 2021, picking up by 117% against the previous year. Over the period under review, the import price recorded strong growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Turkey ($X per unit), while the price for Bosnia and Herzegovina ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+14.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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