Iran: Ball Bearing Parts Market 2024

Ball Bearing Parts Market Size in Iran

In 2021, the Iranian ball bearing parts market decreased by -21.6% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, consumption, however, saw a relatively flat trend pattern. Ball bearing parts consumption peaked at $X in 2020, and then dropped remarkably in the following year.

Ball Bearing Parts Exports

Exports from Iran

In 2021, the amount of parts of ball or roller bearings exported from Iran soared to X tons, increasing by 89% compared with the previous year. In general, exports enjoyed a buoyant increase. The growth pace was the most rapid in 2017 with an increase of 1,145% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in the near future.

In value terms, ball bearing parts exports declined to $X in 2021. Over the period under review, exports posted a resilient increase. The pace of growth appeared the most rapid in 2017 when exports increased by 886% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Tajikistan (X tons) was the main destination for ball bearing parts exports from Iran, accounting for a 76% share of total exports. Moreover, ball bearing parts exports to Tajikistan exceeded the volume sent to the second major destination, Azerbaijan (X tons), threefold.

From 2012 to 2021, the average annual growth rate of volume to Tajikistan stood at +155.5%.

In value terms, Tajikistan ($X) emerged as the key foreign market for parts of ball or roller bearings exports from Iran, comprising 86% of total exports. The second position in the ranking was held by Azerbaijan ($X), with a 12% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Tajikistan stood at +136.6%.

Export Prices by Country

In 2021, the average ball bearing parts export price amounted to $X per ton, reducing by -48.9% against the previous year. Overall, the export price saw a abrupt descent. The pace of growth appeared the most rapid in 2016 when the average export price increased by 106%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Tajikistan ($X per ton), while the average price for exports to Azerbaijan totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+36.5%), while the prices for the other major destinations experienced a decline.

Ball Bearing Parts Imports

Imports into Iran

In 2021, after two years of growth, there was significant decline in overseas purchases of parts of ball or roller bearings, when their volume decreased by -29.5% to X tons. Overall, imports, however, saw a slight increase. The most prominent rate of growth was recorded in 2017 when imports increased by 128%. Imports peaked at X tons in 2020, and then reduced remarkably in the following year.

In value terms, ball bearing parts imports fell to $X in 2021. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when imports increased by 69% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest ball bearing parts supplier to Iran, with a 86% share of total imports. Moreover, ball bearing parts imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), more than tenfold. The United Arab Emirates (X tons) ranked third in terms of total imports with a 4.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +6.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-1.4% per year) and the United Arab Emirates (-17.7% per year).

In value terms, China ($X) constituted the largest supplier of parts of ball or roller bearings to Iran, comprising 81% of total imports. The second position in the ranking was taken by Germany ($X), with a 3.9% share of total imports. It was followed by the United Arab Emirates, with a 3.1% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-12.0% per year) and the United Arab Emirates (-18.4% per year).

Import Prices by Country

The average ball bearing parts import price stood at $X per ton in 2021, with an increase of 22% against the previous year. Over the period under review, the import price, however, recorded a slight curtailment. The most prominent rate of growth was recorded in 2016 an increase of 61% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the average import prices failed to regain momentum.

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 Germany ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+3.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :