Iran: Transmission Shaft Market 2024

Transmission Shaft Market Size in Iran

After three years of growth, the Iranian transmission shaft market decreased by -10.8% to $X in 2022. Over the period under review, the total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +34.5% against 2018 indices. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Transmission Shaft Exports

Exports from Iran

After two years of growth, overseas shipments of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain decreased by -9.6% to X tons in 2022. Overall, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 1,569% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, transmission shaft exports dropped dramatically to $X in 2022. Over the period under review, exports, however, saw a modest increase. The pace of growth appeared the most rapid in 2018 when exports increased by 1,542%. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Turkey (X tons) was the main destination for transmission shaft exports from Iran, accounting for a 41% share of total exports. Moreover, transmission shaft exports to Turkey exceeded the volume sent to the second major destination, Armenia (X tons), threefold. The third position in this ranking was held by Kazakhstan (X tons), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume to Turkey totaled +13.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Armenia (+28.5% per year) and Kazakhstan (+21.6% per year).

In value terms, Turkey ($X), Italy ($X) and Georgia ($X) constituted the largest markets for transmission shaft exported from Iran worldwide, together accounting for 58% of total exports.

Georgia, with a CAGR of +43.7%, 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 transmission shaft export price stood at $X per ton in 2022, which is down by -18.1% against the previous year. Overall, the export price, however, continues to indicate a modest increase. The most prominent rate of growth was recorded in 2013 when the average export price increased by 60%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+22.8%), while the prices for the other major destinations experienced more modest paces of growth.

Transmission Shaft Imports

Imports into Iran

For the fourth consecutive year, Iran recorded growth in purchases abroad of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain, which increased by 0.1% to X tons in 2022. In general, total imports indicated a noticeable expansion from 2012 to 2022: its volume increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +40.5% against 2018 indices. The growth pace was the most rapid in 2017 with an increase of 42% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, transmission shaft imports dropped to $X in 2022. The total import value increased at an average annual rate of +1.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 with an increase of 39%. Imports peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest transmission shaft supplier to Iran, with a 76% share of total imports. Moreover, transmission shaft imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), ninefold. The third position in this ranking was taken by Germany (X tons), with a 2.5% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +10.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+0.2% per year) and Germany (-4.1% per year).

In value terms, China ($X) constituted the largest supplier of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain to Iran, comprising 62% of total imports. The second position in the ranking was held by Turkey ($X), with a 7% share of total imports. It was followed by Germany, with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +10.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-0.8% per year) and Germany (-6.9% per year).

Import Prices by Country

In 2022, the average transmission shaft import price amounted to $X per ton, shrinking by -13.9% against the previous year. Over the period under review, the import price saw a perceptible decrease. The growth pace was the most rapid in 2021 when the average import price increased by 26%. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+5.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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