Iraq: Market for Air conditioning Machines without Refrigeration Unit 2024

Market Size for Air conditioning Machines without Refrigeration Unit in Iraq

After three years of growth, the Iraqi market for air conditioning machines without refrigeration unit decreased by -2.2% to $X in 2022. Over the period under review, consumption continues to indicate a perceptible decrease. Consumption of peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Exports of Air conditioning Machines without Refrigeration Unit

Exports from Iraq

In 2022, the amount of air conditioning machines without refrigeration unit exported from Iraq skyrocketed to X units, jumping by 200% compared with the year before. In general, exports posted a significant increase. The growth pace was the most rapid in 2019 when exports increased by 433% against the previous year. Over the period under review, the exports of reached the peak figure at X units in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, exports of air conditioning machines without refrigeration unit soared to $X in 2022. Overall, exports recorded significant growth. The most prominent rate of growth was recorded in 2019 when exports increased by 454% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Turkey (X units) was the main destination for exports of air conditioning machines without refrigeration unit from Iraq, with a 81% share of total exports. Moreover, exports of air conditioning machines without refrigeration unit to Turkey exceeded the volume sent to the second major destination, Poland (X units), sixfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Turkey stood at +18.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+50.0% per year) and the Netherlands (0.0% per year).

In value terms, Turkey ($X) remains the key foreign market for air conditioning machines without refrigeration unit exports from Iraq, comprising 76% of total exports. The second position in the ranking was taken by Poland ($X), with an 11% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Turkey totaled +17.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+299.5% per year) and the Netherlands (0.0% per year).

Export Prices by Country

In 2022, the average export price for air conditioning machines without refrigeration unit amounted to $X per unit, waning by -6.5% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average export price increased by 6.3% against the previous year. The export price peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per unit), while the average price for exports to the Netherlands ($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 Poland (+125.9%).

Imports of Air conditioning Machines without Refrigeration Unit

Imports into Iraq

After three years of growth, overseas purchases of air conditioning machines without refrigeration unit decreased by -4.6% to X units in 2022. Overall, imports recorded a perceptible contraction. The pace of growth was the most pronounced in 2017 when imports increased by 57% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of air conditioning machines without refrigeration unit declined slightly to $X in 2022. Over the period under review, imports continue to indicate a noticeable slump. The pace of growth was the most pronounced in 2017 when imports increased by 43%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Turkey (X units) constituted the largest air conditioning machins without refrigeration unit supplier to Iraq, with a 29% share of total imports. Moreover, imports of air conditioning machines without refrigeration unit from Turkey exceeded the figures recorded by the second-largest supplier, Italy (X units), twofold. The third position in this ranking was held by the United Arab Emirates (X units), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from Turkey amounted to -7.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-4.4% per year) and the United Arab Emirates (-7.8% per year).

In value terms, Italy ($X), Turkey ($X) and the United Arab Emirates ($X) appeared to be the largest air conditioning machins without refrigeration unit suppliers to Iraq, with a combined 47% share of total imports. China, Thailand, Spain and Saudi Arabia lagged somewhat behind, together accounting for a further 18%.

Spain, with a CAGR of +25.5%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average import price for air conditioning machines without refrigeration unit amounted to $X per unit, growing by 3.6% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the average import price increased by 20%. Over the period under review, average import prices reached the peak figure at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+3.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform