Iran: Machine-Tool For Drilling Market 2024

Machine-Tool For Drilling Market Size in Iran

The Iranian machine-tool for drilling market plummeted to $X in 2022, which is down by -19.8% 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). In general, consumption recorded a deep setback. Over the period under review, the market reached the maximum level at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Machine-Tool For Drilling Exports

Exports from Iran

Machine-tool for drilling exports from Iran skyrocketed to X units in 2022, picking up by 171% on the year before. Over the period under review, exports posted a prominent increase. The exports peaked at X units in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, machine-tool for drilling exports soared to $X in 2022. In general, exports posted a prominent expansion. The pace of growth was the most pronounced in 2014 when exports increased by 268%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Switzerland (X units), Austria (X units) and Armenia (X units) were the main destinations of machine-tool for drilling exports from Iran, with a combined 74% share of total exports. Germany, Canada, Australia and Turkey lagged somewhat behind, together comprising a further 18%.

From 2012 to 2022, the biggest increases were recorded for Canada (with a CAGR of +26.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for machine-tool for drilling exported from Iran were Germany ($X), Austria ($X) and Canada ($X), together comprising 61% of total exports. Australia, Switzerland, Armenia and Turkey lagged somewhat behind, together accounting for a further 13%.

In terms of the main countries of destination, Australia, with a CAGR of +762.0%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average machine-tool for drilling export price stood at $X per unit in 2022, with a decrease of -34% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 88%. The export price peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Switzerland ($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 Canada (+68.6%), while the prices for the other major destinations experienced more modest paces of growth.

Machine-Tool For Drilling Imports

Imports into Iran

In 2022, approx. X units of machine-tools for drilling, boring or milling metal were imported into Iran; falling by -21.7% on the previous year. Over the period under review, imports recorded a perceptible contraction. The most prominent rate of growth was recorded in 2014 when imports increased by 247%. Over the period under review, imports attained the peak figure at X units in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, machine-tool for drilling imports declined to $X in 2022. In general, imports continue to indicate a deep contraction. The pace of growth appeared the most rapid in 2014 with an increase of 74%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest machine-tool for drilling supplier to Iran, with a 70% share of total imports. Moreover, machine-tool for drilling imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), more than tenfold. The third position in this ranking was held by South Korea (X units), with a 2.8% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled -4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-6.6% per year) and South Korea (-10.1% per year).

In value terms, China ($X) constituted the largest supplier of machine-tools for drilling, boring or milling metal to Iran, comprising 33% of total imports. The second position in the ranking was taken by Germany ($X), with a 10% share of total imports. It was followed by South Korea, with a 7.5% share.

From 2012 to 2022, the average annual growth rate of value from China stood at -8.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-6.1% per year) and South Korea (-0.6% per year).

Import Prices by Country

The average machine-tool for drilling import price stood at $X per unit in 2022, growing by 9.4% against the previous year. Overall, the import price, however, recorded a slight curtailment. The most prominent rate of growth was recorded in 2019 when the average import price increased by 184%. As a result, import price attained the peak level of $X per unit. From 2020 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per unit), while the price for the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+10.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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