Iraq: Market for Vacuum Pumps and Air or Gas Compressors 2024

Market Size for Vacuum Pumps and Air or Gas Compressors in Iraq

The Iraqi market for vacuum pumps and air or gas compressors totaled $X in 2022, approximately equating 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). The market value increased at an average annual rate of +1.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Exports of Vacuum Pumps and Air or Gas Compressors

Exports from Iraq

Exports of vacuum pumps and air or gas compressors from Iraq shrank dramatically to X units in 2022, declining by -45.9% on the year before. Over the period under review, exports continue to indicate a noticeable descent. The pace of growth appeared the most rapid in 2021 with an increase of 723% against the previous year. The exports peaked at X units in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of vacuum pumps and air or gas compressors declined to $X in 2022. In general, exports saw a deep setback. The pace of growth was the most pronounced in 2017 when exports increased by 218%. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

France (X units), Canada (X units) and South Korea (X units) were the main destinations of exports of vacuum pumps and air or gas compressors from Iraq, together accounting for 59% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by France (with a CAGR of +52.3%), while the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) remains the key foreign market for vacuum pumps and air or gas compressors exports from Iraq, comprising 65% of total exports. The second position in the ranking was held by Canada ($X), with an 8.5% share of total exports. It was followed by France, with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Turkey amounted to -7.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (0.0% per year) and France (+19.4% per year).

Export Prices by Country

In 2022, the average export price for vacuum pumps and air or gas compressors amounted to $X per unit, increasing by 76% against the previous year. Overall, the export price, however, saw a abrupt decline. The growth pace was the most rapid in 2016 an increase of 219%. The export price peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per unit), while the average price for exports to South Korea ($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 (+579.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Vacuum Pumps and Air or Gas Compressors

Imports into Iraq

Imports of vacuum pumps and air or gas compressors into Iraq contracted slightly to X units in 2022, remaining relatively unchanged against the previous year. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by 33% against the previous year. Over the period under review, imports of attained the peak figure at X units in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, imports of vacuum pumps and air or gas compressors rose sharply to $X in 2022. In general, imports, however, continue to indicate a noticeable expansion. The pace of growth appeared the most rapid in 2018 when imports increased by 148%. 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 vacuum pump and air or gas compressor supplier to Iraq, with a 89% share of total imports. It was followed by Turkey (X units), with a 2.4% share of total imports. The third position in this ranking was taken by the United States (X units), with a 2.3% share.

From 2012 to 2022, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+1.7% per year) and the United States (+24.8% per year).

In value terms, the largest vacuum pump and air or gas compressor suppliers to Iraq were China ($X), the United Arab Emirates ($X) and Turkey ($X), with a combined 50% share of total imports.

China, with a CAGR of +4.1%, recorded 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 more modest paces of growth.

Import Prices by Country

In 2022, the average import price for vacuum pumps and air or gas compressors amounted to $X per unit, surging by 6.3% against the previous year. Over the period under review, the import price recorded a pronounced expansion. The growth pace was the most rapid in 2018 when the average import price increased by 157%. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat 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 the United Arab Emirates ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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