Iran: Market for Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels 2022

Market Size for Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels in Iran

The Iranian market for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels rose significantly to $X in 2021, increasing by 5.8% 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). The market value increased at an average annual rate of +2.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level in 2021 and is expected to retain growth in the immediate term.

Exports of Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels

Exports from Iran

After two years of growth, overseas shipments of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels decreased by -19.5% to X units in 2021. Over the period under review, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 52%. The exports peaked at X units in 2020, and then contracted sharply in the following year.

In value terms, grease fittings and oil seals exports expanded sharply to $X in 2021. Overall, total exports indicated a slight increase from 2012 to 2021: its value increased at an average annual rate of +1.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -6.3% against 2019 indices. The pace of growth appeared the most rapid in 2017 when exports increased by 55%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Turkey (X units) was the main destination for grease fittings and oil seals exports from Iran, accounting for a 96% share of total exports. Moreover, grease fittings and oil seals exports to Turkey exceeded the volume sent to the second major destination, South Korea (X units), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Turkey was relatively modest.

In value terms, Turkey ($X) remains the key foreign market for grease fittings and oil seals exports from Iran, comprising 96% of total exports. The second position in the ranking was taken by South Korea ($X), with a 4.3% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Turkey stood at +5.2%.

Export Prices by Country

The average export price for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels stood at $X per unit in 2021, picking up by 33% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major foreign markets. In 2021, the country with the highest price was South Korea ($X per unit), while the average price for exports to Turkey amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+4.5%), while the prices for the other major destinations experienced a decline.

Imports of Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels

Imports into Iran

In 2021, purchases abroad of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels increased by 5.7% to X units, rising for the third consecutive year after two years of decline. In general, total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +7.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +89.1% against 2018 indices. The growth pace was the most rapid in 2019 when imports increased by 75% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, grease fittings and oil seals imports expanded to $X in 2021. Over the period under review, imports, however, recorded a abrupt setback. The most prominent rate of growth was recorded in 2014 when imports increased by 35% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) was the main grease fittings and oil seals supplier to Iran, accounting for a 93% share of total imports. Moreover, grease fittings and oil seals imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X units), more than tenfold. Taiwan (Chinese) (X units) ranked third in terms of total imports with a 2% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +59.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+15.5% per year) and Taiwan (Chinese) (-12.6% per year).

In value terms, China ($X) constituted the largest supplier of grease fittings and oil seals to Iran, comprising 68% of total imports. The second position in the ranking was held by Turkey ($X), with a 17% share of total imports. It was followed by Taiwan (Chinese), with a 6.2% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +54.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+10.3% per year) and Taiwan (Chinese) (-14.1% per year).

Import Prices by Country

In 2021, the average import price for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels amounted to $X per unit, remaining constant against the previous year. Overall, the import price showed a deep slump. The pace of growth appeared the most rapid in 2015 when the average import price increased by 29% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was the United Arab Emirates ($X per unit), while the price for China ($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 (+5.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :