Iran: Knitting Machines Market 2024

Knitting Machines Market Size in Iran

The Iranian knitting machines market contracted dramatically to $X in 2021, reducing by -20.7% 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 abrupt downturn. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Knitting Machines Exports

Exports from Iran

In 2021, shipments abroad of knitting machineses increased by 12% to X units, rising for the fifth year in a row after two years of decline. Over the period under review, exports, however, continue to indicate a abrupt downturn. The pace of growth appeared the most rapid in 2018 when exports increased by 518%. The exports peaked at X units in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, knitting machines exports soared to $X in 2021. In general, exports showed prominent growth. The growth pace was the most rapid in 2018 with an increase of 1,693%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the near future.

Exports by Country

Azerbaijan (X units), Georgia (X units) and Hong Kong SAR (X units) were the main destinations of knitting machines exports from Iran, with a combined 78% share of total exports. Moreover, knitting machines exports in Azerbaijan exceeded the figures recorded by the second-largest exporter, Georgia, twofold.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Georgia (with a CAGR of +46.7%), while the other leaders experienced more modest paces of growth.

In value terms, Afghanistan ($X) remains the key foreign market for knitting machineses exports from Iran, comprising 83% of total exports. The second position in the ranking was held by India ($X), with a 15% share of total exports. It was followed by Hong Kong SAR, with a 0.8% share.

From 2012 to 2021, the average annual growth rate of value to Afghanistan amounted to +67.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+16.2% per year) and Hong Kong SAR (-28.6% per year).

Export Prices by Country

In 2021, the average knitting machines export price amounted to $X per unit, with an increase of 7.1% against the previous year. Over the period under review, the export price recorded resilient growth. The most prominent rate of growth was recorded in 2018 an increase of 190% against the previous year. The export price peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Afghanistan ($X per unit), while the average price for exports to Georgia ($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 Afghanistan (+135.4%), while the prices for the other major destinations experienced a decline.

Knitting Machines Imports

Imports into Iran

In 2021, the amount of knitting machineses imported into Iran reduced dramatically to X units, dropping by -31.3% on 2020. In general, imports showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2013 when imports increased by 100% against the previous year. Imports peaked at X units in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, knitting machines imports fell modestly to $X in 2021. Overall, imports, however, continue to indicate tangible growth. The pace of growth appeared the most rapid in 2013 when imports increased by 68%. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

India (X units), Malaysia (X units) and China (X units) were the main suppliers of knitting machines imports to Iran, with a combined 75% share of total imports.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +76.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of knitting machineses to Iran, comprising 64% of total imports. The second position in the ranking was taken by Turkey ($X), with a 6.5% share of total imports. It was followed by Germany, with a 6.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +11.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+15.1% per year) and Germany (-3.2% per year).

Import Prices by Country

In 2021, the average knitting machines import price amounted to $X per unit, jumping by 45% against the previous year. In general, the import price saw a significant increase. The growth pace was the most rapid in 2017 an increase of 194% against the previous year. As a result, import price attained the peak level of $X per unit. From 2018 to 2021, the average import prices remained at a somewhat 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 ($X per unit), while the price for Greece ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+97.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform