Iran: Market for Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft) 2024

Market Size for Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft) in Iran

The Iranian market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) shrank significantly to $X in 2021, dropping by -16.8% 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 recorded a perceptible decline. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Exports of Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft)

Exports from Iran

In 2021, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) from Iran contracted dramatically to X tons, which is down by -28.6% on 2020 figures. Over the period under review, exports, however, continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2016 when exports increased by 916%. As a result, the exports attained the peak of X tons. From 2017 to 2021, the growth of the exports of remained at a lower figure.

In value terms, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) reduced sharply to $X in 2021. In general, exports, however, enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2016 when exports increased by 572%. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports of failed to regain momentum.

Exports by Country

The United Arab Emirates (X tons) was the main destination for exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) from Iran, with a 50% share of total exports. Moreover, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) to the United Arab Emirates exceeded the volume sent to the second major destination, the UK (X kg), threefold. The third position in this ranking was taken by France (X kg), with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United Arab Emirates totaled +6.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+12.4% per year) and France (+16.7% per year).

In value terms, Kazakhstan ($X) emerged as the key foreign market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) exports from Iran, comprising 48% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 19% share of total exports. It was followed by France, with a 16% share.

From 2012 to 2021, the average annual growth rate of value to Kazakhstan totaled +48.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-7.0% per year) and France (+36.3% per year).

Export Prices by Country

In 2021, the average export price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) amounted to $X per ton, remaining constant against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 83% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Kazakhstan (+44.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft)

Imports into Iran

In 2021, approx. X tons of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) were imported into Iran; which is down by -5% compared with the year before. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 244% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports of remained at a lower figure.

In value terms, imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) dropped markedly to $X in 2021. Overall, imports recorded a pronounced contraction. The pace of growth was the most pronounced in 2017 with an increase of 141% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports of remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest internal combustion engine (excl. diesel, moto vehicle and aircraft) supplier to Iran, accounting for a 60% share of total imports. Moreover, imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) from China exceeded the figures recorded by the second-largest supplier, Oman (X tons), fourfold. The third position in this ranking was taken by India (X tons), with a 4.7% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +6.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Oman (+3.6% per year) and India (+40.1% per year).

In value terms, China ($X) constituted the largest supplier of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) to Iran, comprising 52% of total imports. The second position in the ranking was held by Oman ($X), with a 17% share of total imports. It was followed by the United Arab Emirates, with a 2.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Oman (+8.2% per year) and the United Arab Emirates (-25.8% per year).

Import Prices by Country

In 2021, the average import price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) amounted to $X per ton, reducing by -19.5% against the previous year. Overall, the import price recorded a perceptible decrease. The most prominent rate of growth was recorded in 2018 when the average import price increased by 55%. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+4.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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