Iraq: Market for Bearing Housings Not Incorporating Ball Or Roller Bearings, Plain Shaft Bearings 2024

Market Size for Bearing Housings Not Incorporating Ball Or Roller Bearings, Plain Shaft Bearings in Iraq

The Iraqi market for bearing housings not incorporating ball or roller bearings, plain shaft bearings surged to $X in 2021, increasing 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 continues to indicate a resilient expansion. Over the period under review, the market attained the maximum level in 2021 and is likely to continue growth in years to come.

Exports of Bearing Housings Not Incorporating Ball Or Roller Bearings, Plain Shaft Bearings

Exports from Iraq

For the fourth consecutive year, Iraq recorded growth in shipments abroad of bearing housings not incorporating ball or roller bearings, plain shaft bearings, which increased by 60% to X kg in 2021. Over the period under review, exports, however, recorded a abrupt slump. The most prominent rate of growth was recorded in 2016 when exports increased by 80%. The exports peaked at X kg in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, bearing housing without ball bearing exports surged to $X in 2021. Overall, exports enjoyed a resilient expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The Netherlands (X kg) and Oman (X kg) were the main destinations of bearing housing without ball bearing exports from Iraq. Moreover, bearing housing without ball bearing exports in the Netherlands exceeded the figures recorded by the second-largest exporter, Oman, twofold.

From 2012 to 2021, the biggest increases were recorded for Oman (with a CAGR of +300.0%).

In value terms, the Netherlands ($X) and Oman ($X) constituted the largest markets for bearing housing without ball bearing exported from Iraq worldwide.

Among the main countries of destination, Oman, with a CAGR of +193.9%, recorded the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

The average export price for bearing housings not incorporating ball or roller bearings, plain shaft bearings stood at $X per ton in 2021, picking up by 54% against the previous year. Over the period under review, the export price saw buoyant growth. The most prominent rate of growth was recorded in 2014 when the average export price increased by 63% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is likely to see steady growth in years to come.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Oman ($X per ton), while the average price for exports to the Netherlands stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+13.0%).

Imports of Bearing Housings Not Incorporating Ball Or Roller Bearings, Plain Shaft Bearings

Imports into Iraq

In 2021, the amount of bearing housings not incorporating ball or roller bearings, plain shaft bearings imported into Iraq skyrocketed to X tons, growing by 17% on 2020. Over the period under review, imports enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2018 when imports increased by 83%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, bearing housing without ball bearing imports rose notably to $X in 2021. In general, imports continue to indicate resilient growth. The pace of growth appeared the most rapid in 2019 when imports increased by 51% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest supplier of bearing housing without ball bearing to Iraq, with a 49% share of total imports. Moreover, bearing housing without ball bearing imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Turkey (X tons), threefold. The third position in this ranking was taken by Germany (X tons), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from the United Arab Emirates amounted to +26.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+15.9% per year) and Germany (+18.1% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of bearing housings not incorporating ball or roller bearings, plain shaft bearings to Iraq, comprising 46% of total imports. The second position in the ranking was held by Germany ($X), with a 12% share of total imports. It was followed by Turkey, with a 9.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United Arab Emirates stood at +29.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-3.6% per year) and Turkey (+19.5% per year).

Import Prices by Country

In 2021, the average import price for bearing housings not incorporating ball or roller bearings, plain shaft bearings amounted to $X per ton, shrinking by -2.3% against the previous year. In general, the import price recorded a deep reduction. The pace of growth appeared the most rapid in 2016 an increase of 28%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+3.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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