Iraq: Market for Turbo, Rotary and Reciporating Displacement Compressors 2024

Market Size for Turbo, Rotary and Reciporating Displacement Compressors in Iraq

The Iraqi market for turbo, rotary and reciporating displacement compressors soared to $X in 2022, picking up by 18% 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 showed buoyant growth. Over the period under review, the market reached the peak level in 2022 and is likely to see gradual growth in the near future.

Exports of Turbo, Rotary and Reciporating Displacement Compressors

Exports from Iraq

In 2022, approx. X units of turbo, rotary and reciporating displacement compressors were exported from Iraq; declining by -14.3% against the year before. Over the period under review, exports recorded a abrupt decrease. The growth pace was the most rapid in 2015 when exports increased by 696%. Over the period under review, the exports of attained the peak figure at X units in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of turbo, rotary and reciporating displacement compressors plummeted to $X in 2022. In general, exports saw a abrupt decline. The pace of growth appeared the most rapid in 2017 when exports increased by 721%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

Canada (X units) was the main destination for exports of turbo, rotary and reciporating displacement compressors from Iraq, accounting for a 79% share of total exports. Moreover, exports of turbo, rotary and reciporating displacement compressors to Canada exceeded the volume sent to the second major destination, the United States (X units), tenfold. Romania (X units) ranked third in terms of total exports with a 4.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Canada was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-30.1% per year) and Romania (0.0% per year).

In value terms, Canada ($X), Romania ($X) and the United States ($X) constituted the largest markets for turbo, rotary and reciporating displacement compressor exported from Iraq worldwide, with a combined 85% share of total exports.

Among the main countries of destination, Romania, with a CAGR of 0.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average export price for turbo, rotary and reciporating displacement compressors stood at $X per unit in 2022, shrinking by -19.4% against the previous year. Overall, the export price recorded a deep downturn. The growth pace was the most rapid in 2017 when the average export price increased by 166%. Over the period under review, the average export prices hit record highs at $X per unit in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Iran (+18.9%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Turbo, Rotary and Reciporating Displacement Compressors

Imports into Iraq

For the third consecutive year, Iraq recorded growth in purchases abroad of turbo, rotary and reciporating displacement compressors, which increased by 18% to X units in 2022. Overall, imports saw a buoyant increase. The most prominent rate of growth was recorded in 2018 when imports increased by 144%. Imports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, imports of turbo, rotary and reciporating displacement compressors skyrocketed to $X in 2022. In general, imports recorded pronounced growth. The pace of growth appeared the most rapid in 2018 with an increase of 265% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of turbo, rotary and reciporating displacement compressor to Iraq, with a 71% share of total imports. Moreover, imports of turbo, rotary and reciporating displacement compressors from China exceeded the figures recorded by the second-largest supplier, the United States (X units), sevenfold. Turkey (X units) ranked third in terms of total imports with a 5.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +9.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+29.3% per year) and Turkey (+0.4% per year).

In value terms, the largest turbo, rotary and reciporating displacement compressor suppliers to Iraq were China ($X), Japan ($X) and the United States ($X), together comprising 43% of total imports.

Japan, with a CAGR of +88.0%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for turbo, rotary and reciporating displacement compressors stood at $X per unit in 2022, almost unchanged from the previous year. In general, the import price, however, recorded a deep contraction. The growth pace was the most rapid in 2013 when the average import price increased by 141% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+3.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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