Iran: Market for Machine Tools For Working Metal 2024

Market Size for Machine Tools For Working Metal in Iran

In 2021, after three years of decline, there was significant growth in the Iranian machine-tool for working metal market, when its value increased by 64% to $X. In general, consumption, however, recorded a drastic downturn. Machine-tool for working metal consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Exports of Machine Tools For Working Metal

Exports from Iran

In 2021, approx. X units of machine tools for working metal were exported from Iran; reducing by -38.1% on the year before. Over the period under review, exports showed a abrupt decline. The most prominent rate of growth was recorded in 2017 when exports increased by 524%. Over the period under review, the exports attained the maximum at X units in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, machine-tool for working metal exports soared to $X in 2021. Overall, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 766% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Armenia (X units), Turkey (X units) and Azerbaijan (X units) were the main destinations of machine-tool for working metal exports from Iran, with a combined 63% share of total exports. Oman, Georgia, Kuwait, France, Tajikistan, the United Arab Emirates and Uzbekistan lagged somewhat behind, together comprising a further 26%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Kuwait (with a CAGR of +10.7%), while the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) emerged as the key foreign market for machine tools for working metal exports from Iran, comprising 29% of total exports. The second position in the ranking was held by France ($X), with a 14% share of total exports. It was followed by Azerbaijan, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Turkey totaled -6.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+4.1% per year) and Azerbaijan (+11.0% per year).

Export Prices by Country

The average machine-tool for working metal export price stood at $X per unit in 2021, surging by 161% against the previous year. Over the period under review, the export price recorded a remarkable increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was France ($X per unit), while the average price for exports to the United Arab Emirates ($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 France (+40.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machine Tools For Working Metal

Imports into Iran

After three years of decline, purchases abroad of machine tools for working metal increased by 102% to X units in 2021. Over the period under review, imports, however, continue to indicate a abrupt contraction. The pace of growth was the most pronounced in 2017 when imports increased by 236%. Over the period under review, imports attained the peak figure at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, machine-tool for working metal imports soared to $X in 2021. In general, imports, however, faced a abrupt shrinkage. The pace of growth appeared the most rapid in 2014 when imports increased by 130%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

South Korea (X units), Turkey (X units) and China (X units) were the main suppliers of machine-tool for working metal imports to Iran, with a combined 88% share of total imports. The Netherlands, Armenia, Taiwan (Chinese) and Germany lagged somewhat behind, together accounting for a further 4.9%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +14.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of machine tools for working metal to Iran, comprising 50% of total imports. The second position in the ranking was held by Turkey ($X), with a 21% share of total imports. It was followed by South Korea, with a 3.5% 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: Turkey (-0.4% per year) and South Korea (-23.3% per year).

Import Prices by Country

The average machine-tool for working metal import price stood at $X per unit in 2021, dropping by -37.3% against the previous year. Over the period under review, the import price, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2020 when the average import price increased by 101%. Over the period under review, average import prices hit record highs at $X per unit in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per unit), while the price for the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+45.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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