Iran: Market for Grinding And Sharpening Metal Finishing Machines 2024

Market Size for Grinding And Sharpening Metal Finishing Machines in Iran

The Iranian grinding and sharpening machine market surged to $X in 2022, picking up by 16% 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, consumption continues to indicate perceptible growth. Grinding and sharpening machine consumption peaked at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Exports of Grinding And Sharpening Metal Finishing Machines

Exports from Iran

Grinding and sharpening machine exports from Iran declined rapidly to X units in 2022, with a decrease of -35.7% against the year before. Overall, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 300% against the previous year. Over the period under review, the exports hit record highs at X units in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, grinding and sharpening machine exports expanded rapidly to $X in 2022. In general, exports faced a deep setback. The pace of growth was the most pronounced in 2017 when exports increased by 70%. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Azerbaijan (X units) was the main destination for grinding and sharpening machine exports from Iran, with a 56% share of total exports. Moreover, grinding and sharpening machine exports to Azerbaijan exceeded the volume sent to the second major destination, Armenia (X units), threefold. The third position in this ranking was taken by Kazakhstan (X units), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to Azerbaijan amounted to +5.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Armenia (-4.0% per year) and Kazakhstan (0.0% per year).

In value terms, Azerbaijan ($X) remains the key foreign market for grinding and sharpening metal finishing machines exports from Iran, comprising 88% of total exports. The second position in the ranking was taken by Armenia ($X), with an 8.3% share of total exports. It was followed by Kazakhstan, with a 2.7% share.

From 2012 to 2022, the average annual growth rate of value to Azerbaijan amounted to -8.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Armenia (-23.6% per year) and Kazakhstan (+7.1% per year).

Export Prices by Country

In 2022, the average grinding and sharpening machine export price amounted to $X per unit, rising by 66% against the previous year. Overall, the export price, however, faced a drastic downturn. The most prominent rate of growth was recorded in 2019 when the average export price increased by 146%. Over the period under review, the average export prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kazakhstan (+7.1%), while the prices for the other major destinations experienced a decline.

Imports of Grinding And Sharpening Metal Finishing Machines

Imports into Iran

In 2022, the amount of grinding and sharpening metal finishing machines imported into Iran rose significantly to X units, surging by 10% on the year before. Over the period under review, imports recorded a measured expansion. The most prominent rate of growth was recorded in 2015 when imports increased by 109%. As a result, imports reached the peak of X units. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, grinding and sharpening machine imports surged to $X in 2022. Overall, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 58%. Imports peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

Belarus (X units), South Korea (X units) and China (X units) were the main suppliers of grinding and sharpening machine imports to Iran, together accounting for 54% of total imports.

From 2012 to 2022, the biggest increases were recorded for Belarus (with a CAGR of +20.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), South Korea ($X) and Pakistan ($X) constituted the largest grinding and sharpening machine suppliers to Iran, together comprising 55% of total imports.

Pakistan, with a CAGR of +24.4%, saw the highest rates of growth with regard to 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

In 2022, the average grinding and sharpening machine import price amounted to $X per unit, surging by 7.7% against the previous year. In general, the import price, however, showed a pronounced curtailment. The pace of growth appeared the most rapid in 2019 when the average import price increased by 90%. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Pakistan ($X per unit), while the price for Belarus ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+17.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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