Iran: Roller Bearing Market 2024

Roller Bearing Market Size in Iran

The Iranian roller bearing market soared to $X in 2022, picking up by 16% 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). In general, consumption enjoyed buoyant growth. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Roller Bearing Exports

Exports from Iran

Roller bearing exports from Iran surged to X tons in 2022, picking up by 95% against 2021 figures. Over the period under review, exports recorded strong growth. The most prominent rate of growth was recorded in 2021 when exports increased by 331%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, roller bearing exports shrank sharply to $X in 2022. In general, exports recorded a prominent increase. The pace of growth was the most pronounced in 2014 when exports increased by 519%. The Iran exports peaked at $X in 2021, and then dropped significantly in the following year.

Exports by Country

In 2022, China (X tons) represented the major exporter of roller bearings, comprising 43% of total exports. It was distantly followed by Singapore (X tons), Germany (X tons), France (X tons), Slovakia (X tons) and the United States (X tons), together mixing up a 30% share of total exports. Italy (X tons), South Korea (X tons), Indonesia (X tons), Hong Kong SAR (X tons), Turkey (X tons), Austria (X tons) and Romania (X tons) held a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to roller bearing exports from China stood at +22.6%. At the same time, Indonesia (+35.7%), Turkey (+8.5%), Singapore (+1.2%) and Slovakia (+1.1%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in the world, with a CAGR of +35.7% from 2012-2022. By contrast, Italy (-1.9%), Germany (-2.0%), France (-2.2%), South Korea (-9.7%), Hong Kong SAR (-13.7%), the United States (-18.4%), Austria (-22.3%) and Romania (-22.4%) illustrated a downward trend over the same period. While the share of China (+37 p.p.) and Indonesia (+2.2 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Italy (-1.5 p.p.), Germany (-2.6 p.p.), France (-2.7 p.p.), Romania (-4.9 p.p.), Hong Kong SAR (-6 p.p.), South Korea (-6.3 p.p.), the United States (-6.4 p.p.) and Austria (-7.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Singapore ($X) and Germany ($X) constituted the countries with the highest levels of exports in 2022, with a combined 45% share of total exports. Italy, the United States, France, Hong Kong SAR, Slovakia, South Korea, Austria, Turkey, Indonesia and Romania lagged somewhat behind, together accounting for a further 31%.

In terms of the main exporting countries, Indonesia, with a CAGR of +16.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Iran stood at $X per ton in 2022, with a decrease of -69.9% against the previous year. Overall, the export price, however, showed a resilient increase. The pace of growth appeared the most rapid in 2019 when the export price increased by 117% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2021, and then reduced rapidly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+16.3%), while the other leaders experienced more modest paces of growth.

Roller Bearing Imports

Imports into Iran

Roller bearing imports into Iran skyrocketed to X tons in 2022, rising by 39% compared with 2021. Overall, imports continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2019 when imports increased by 139% against the previous year. Iran imports peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, roller bearing imports declined to $X in 2022. Over the period under review, imports saw a resilient increase. The most prominent rate of growth was recorded in 2018 when imports increased by 111%. Iran imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

Thailand (X tons) and Indonesia (X tons) represented the major importers of roller bearings in 2022, resulting at near 17% and 15% of total imports, respectively. It was distantly followed by Germany (X tons), making up a 6.2% share of total imports. India (X tons), Italy (X tons), Canada (X tons), Malaysia (X tons), Spain (X tons), South Korea (X tons), France (X tons), Singapore (X tons), Poland (X tons) and Austria (X tons) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Thailand (with a CAGR of +18.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Germany ($X) and India ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 24% of total imports.

In terms of the main importing countries, Indonesia, with a CAGR of +4.2%, recorded the highest growth rate of 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

The import price in Iran stood at $X per ton in 2022, falling by -32.3% against the previous year. Over the period under review, the import price showed a pronounced downturn. The pace of growth appeared the most rapid in 2015 when the import price increased by 45% against the previous year. Iran import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Canada ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+6.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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