Iran: Market for Mechanical Shovels, Excavators And Shovel Loaders 2024

Market Size for Mechanical Shovels, Excavators And Shovel Loaders in Iran

In 2021, after three years of decline, there was significant growth in the Iranian mechanical shovel and excavator market, when its value increased by 21% to $X. Over the period under review, consumption, however, saw a deep slump. Mechanical shovel and excavator consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Exports of Mechanical Shovels, Excavators And Shovel Loaders

Exports from Iran

In 2021, approx. X units of mechanical shovels, excavators and shovel loaders were exported from Iran; rising by 17% compared with 2020. Overall, exports, however, recorded a pronounced shrinkage. The most prominent rate of growth was recorded in 2018 when exports increased by 200% against the previous year. As a result, the exports attained the peak of X units. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, mechanical shovel and excavator exports expanded slightly to $X in 2021. In general, exports, however, saw a drastic downturn. The most prominent rate of growth was recorded in 2018 with an increase of 259%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Georgia (X units) was the main destination for mechanical shovel and excavator exports from Iran, with a 57% share of total exports. Moreover, mechanical shovel and excavator exports to Georgia exceeded the volume sent to the second major destination, Malaysia (X units), fourfold.

From 2012 to 2021, the average annual growth rate of volume to Georgia stood at +16.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (0.0% per year) and Sri Lanka (-7.4% per year).

In value terms, the largest markets for mechanical shovel and excavator exported from Iran were Georgia ($X), the United Arab Emirates ($X) and Malaysia ($X), together accounting for 88% of total exports.

Georgia, with a CAGR of +18.9%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average mechanical shovel and excavator export price stood at $X per unit in 2021, reducing by -12.3% against the previous year. Overall, the export price recorded a perceptible downturn. The most prominent rate of growth was recorded in 2014 an increase of 49% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Georgia ($X per unit), while the average price for exports to Sri Lanka ($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 the United Arab Emirates (+53.7%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Mechanical Shovels, Excavators And Shovel Loaders

Imports into Iran

After four years of decline, purchases abroad of mechanical shovels, excavators and shovel loaders increased by 26% to X units in 2021. Overall, imports, however, faced a drastic downturn. The pace of growth was the most pronounced in 2014 with an increase of 182%. Imports peaked at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, mechanical shovel and excavator imports surged to $X in 2021. In general, imports, however, showed a deep downturn. The pace of growth was the most pronounced in 2014 when imports increased by 235% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X units), Oman (X units) and Bulgaria (X units) were the main suppliers of mechanical shovel and excavator imports to Iran, with a combined 62% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Bulgaria (with a CAGR of +54.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest mechanical shovel and excavator suppliers to Iran were China ($X), Oman ($X) and Turkey ($X), with a combined 58% share of total imports. Sweden, India, South Korea, Japan, Kuwait, the United Arab Emirates, Germany and Bulgaria lagged somewhat behind, together comprising a further 32%.

Among the main suppliers, Kuwait, with a CAGR of +29.3%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average mechanical shovel and excavator import price amounted to $X per unit, with a decrease of -5.3% against the previous year. Overall, the import price recorded a slight decline. The pace of growth appeared the most rapid in 2017 when the average import price increased by 34% against the previous year. The import price peaked 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, amid the top importers, the country with the highest price was India ($X per unit), while the price for Bulgaria ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+93.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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