Iran: Market for Instruments for Measuring Electrical Quantities 2024

Market Size for Instruments for Measuring Electrical Quantities in Iran

For the third year in a row, the Iranian market for instruments for measuring electrical quantities recorded growth in sales value, which increased by 86% to $X in 2021. Over the period under review, consumption, however, faced a abrupt decrease. Instruments for measuring electrical quantities consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Exports of Instruments for Measuring Electrical Quantities

Exports from Iran

For the third year in a row, Iran recorded decline in overseas shipments of instruments for measuring electrical quantities, which decreased by -72.3% to X units in 2021. In general, exports showed a deep slump. The pace of growth was the most pronounced in 2016 with an increase of 992% against the previous year. As a result, the exports attained the peak of X units. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, instruments for measuring electrical quantities exports declined rapidly to $X in 2021. Over the period under review, exports faced a deep reduction. The pace of growth appeared the most rapid in 2016 with an increase of 1,171%. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Finland (X units), Slovenia (X units) and Australia (X units) were the main destinations of instruments for measuring electrical quantities exports from Iran, together comprising 53% of total exports.

From 2012 to 2021, the biggest increases were recorded for Finland (with a CAGR of +123.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X) emerged as the key foreign market for instruments for measuring electrical quantities exports from Iran, comprising 52% of total exports. The second position in the ranking was held by Slovenia ($X), with a 13% share of total exports. It was followed by Finland, with a 4.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Australia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovenia (-17.5% per year) and Finland (+43.7% per year).

Export Prices by Country

The average export price for instruments for measuring electrical quantities stood at $X per unit in 2021, picking up by 13% against the previous year. Overall, the export price recorded prominent growth. The pace of growth appeared the most rapid in 2019 an increase of 132%. Over the period under review, the average export prices reached the peak figure in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Australia ($X per unit), while the average price for exports to Finland ($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 Italy (+17.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Instruments for Measuring Electrical Quantities

Imports into Iran

For the third year in a row, Iran recorded growth in supplies from abroad of instruments for measuring electrical quantities, which increased by 74% to X units in 2021. In general, imports, however, showed a abrupt slump. Imports peaked at X units in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, instruments for measuring electrical quantities imports surged to $X in 2021. Overall, imports, however, faced a abrupt downturn. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest supplier of instruments for measuring electrical quantities to Iran, with a 74% share of total imports. Moreover, instruments for measuring electrical quantities imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X units), sevenfold. The third position in this ranking was held by Germany (X units), with a 3.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +29.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-29.4% per year) and Germany (-3.4% per year).

In value terms, China ($X), Turkey ($X) and Germany ($X) appeared to be the largest instruments for measuring electrical quantities suppliers to Iran, with a combined 69% share of total imports.

Among the main suppliers, China, with a CAGR of +22.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average import price for instruments for measuring electrical quantities amounted to $X per unit, growing by 15% against the previous year. Overall, the import price, however, recorded a noticeable setback. The pace of growth appeared the most rapid in 2017 an increase of 39%. Over the period under review, average import prices hit record highs at $X per unit in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per unit), while the price for China ($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 (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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