Iran: Oil Dispensing Pump Market 2024

Oil Dispensing Pump Market Size in Iran

The Iranian oil dispensing pump market skyrocketed to $X in 2021, increasing by 47% 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). Over the period under review, consumption, however, faced a abrupt descent. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Oil Dispensing Pump Exports

Exports from Iran

In 2021, overseas shipments of petrol and oil dispensing pumps decreased by -61.5% to X units, falling for the third year in a row after two years of growth. In general, exports continue to indicate a precipitous slump. The pace of growth appeared the most rapid in 2018 when exports increased by 97% against the previous year. Over the period under review, the exports hit record highs at X units in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, oil dispensing pump exports dropped notably to $X in 2021. Over the period under review, exports continue to indicate a dramatic shrinkage. The pace of growth was the most pronounced in 2018 when exports increased by 140% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Venezuela (X units) was the main destination for oil dispensing pump exports from Iran, accounting for a 80% share of total exports. Moreover, oil dispensing pump exports to Venezuela exceeded the volume sent to the second major destination, Iraq (X units), eightfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Venezuela amounted to -26.4%.

In value terms, Venezuela ($X) remains the key foreign market for petrol and oil dispensing pumps exports from Iran, comprising 78% of total exports. The second position in the ranking was held by Iraq ($X), with a 20% share of total exports. It was followed by the United Arab Emirates, with a 0.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Venezuela amounted to -26.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iraq (-28.3% per year) and the United Arab Emirates (-30.9% per year).

Export Prices by Country

The average oil dispensing pump export price stood at $X per unit in 2021, surging by 38% against the previous year. In general, export price indicated slight growth from 2012 to 2021: its price increased at an average annual rate of +1.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, oil dispensing pump export price increased by +54.7% against 2019 indices. Over the period under review, the average export prices attained the peak figure at $X per unit in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Iraq ($X per unit), while the average price for exports to Afghanistan ($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 (+25.9%), while the prices for the other major destinations experienced mixed trend patterns.

Oil Dispensing Pump Imports

Imports into Iran

Oil dispensing pump imports into Iran surged to X units in 2021, jumping by 67% against the year before. Overall, imports, however, recorded a deep downturn. The growth pace was the most rapid in 2014 when imports increased by 185%. As a result, imports reached the peak of X units. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, oil dispensing pump imports surged to $X in 2021. In general, imports, however, recorded a abrupt contraction. The pace of growth appeared the most rapid in 2014 with an increase of 170% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

China (X units), Turkey (X units) and Oman (X units) were the main suppliers of oil dispensing pump imports to Iran, together accounting for 95% of total imports.

From 2012 to 2021, the biggest increases were recorded for Oman (with a CAGR of +36.6%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest oil dispensing pump suppliers to Iran were China ($X), the United Arab Emirates ($X) and Turkey ($X), with a combined 57% share of total imports. These countries were followed by Oman, Italy, South Korea and India, which together accounted for a further 9.2%.

In terms of the main suppliers, Oman, with a CAGR of +28.9%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average oil dispensing pump import price stood at $X per unit in 2021, waning by -21.3% against the previous year. In general, import price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, oil dispensing pump import price increased by +23.3% against 2019 indices. The most prominent rate of growth was recorded in 2020 an increase of 57%. Over the period under review, average import prices reached the maximum at $X per unit in 2015; however, from 2016 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 ($X per unit), while the price for Turkey ($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 (+60.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :