Iran: Market for Grinding, Sanding and Polishing Machines 2024

Market Size for Grinding, Sanding and Polishing Machines in Iran

The Iranian market for grinding, sanding and polishing machines soared to $X in 2021, surging by 162% 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 a significant increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Exports of Grinding, Sanding and Polishing Machines

Exports from Iran

In 2021, the amount of grinding, sanding and polishing machines exported from Iran skyrocketed to X units, jumping by 467% against 2020 figures. Over the period under review, exports saw significant growth. Over the period under review, the exports hit record highs at X units in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, grinding, sanding and polishing machine exports soared to $X in 2021. Overall, exports enjoyed significant growth. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Azerbaijan (X units), Tanzania (X units) and Burundi (X units) were the main destinations of grinding, sanding and polishing machine exports from Iran, together comprising 82% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Tanzania (with a CAGR of +22.3%), while the other leaders experienced more modest paces of growth.

In value terms, Azerbaijan ($X) remains the key foreign market for grinding, sanding and polishing machines exports from Iran, comprising 65% of total exports. The second position in the ranking was taken by Georgia ($X), with a 19% share of total exports. It was followed by Tanzania, with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Azerbaijan amounted to +51.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Georgia (+16.5% per year) and Tanzania (+48.0% per year).

Export Prices by Country

The average export price for grinding, sanding and polishing machines stood at $X per unit in 2021, with an increase of 79% against the previous year. Over the period under review, the export price recorded resilient growth. The pace of growth appeared the most rapid in 2020 when the average export price increased by 111%. The export price peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Azerbaijan ($X per unit), while the average price for exports to Burundi ($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 Azerbaijan (+10.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Grinding, Sanding and Polishing Machines

Imports into Iran

In 2021, grinding, sanding and polishing machine imports into Iran soared to X units, growing by 110% against the previous year's figure. Overall, imports posted significant growth. The pace of growth was the most pronounced in 2020 with an increase of 122% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in years to come.

In value terms, grinding, sanding and polishing machine imports surged to $X in 2021. Over the period under review, imports saw a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest supplier of grinding, sanding and polishing machine to Iran, with a 33% share of total imports. Moreover, grinding, sanding and polishing machine imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X units), threefold. The third position in this ranking was taken by Turkey (X units), with a 6.1% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +80.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+62.4% per year) and Turkey (-6.8% per year).

In value terms, Estonia ($X) constituted the largest supplier of grinding, sanding and polishing machines to Iran, comprising 27% of total imports. The second position in the ranking was taken by Italy ($X), with a 10% share of total imports. It was followed by the United Arab Emirates, with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Estonia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+71.9% per year) and the United Arab Emirates (+42.7% per year).

Import Prices by Country

In 2021, the average import price for grinding, sanding and polishing machines amounted to $X per unit, increasing by 74% against the previous year. Over the period under review, the import price saw a remarkable increase. The import price peaked at $X per unit in 2016; however, from 2017 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 Estonia ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+6.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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