Iraq: Shaft Coupling Market 2024

Shaft Coupling Market Size in Iraq

The Iraqi shaft coupling market amounted to $X in 2022, stabilizing at 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 posted a moderate expansion. Shaft coupling consumption peaked in 2022 and is expected to retain growth in years to come.

Shaft Coupling Exports

Exports from Iraq

Shaft coupling exports from Iraq fell significantly to X kg in 2021, reducing by -16.6% compared with 2020 figures. Overall, exports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2020 with an increase of 1,545% against the previous year. The exports peaked at X kg in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, shaft coupling exports fell dramatically to $X in 2021. In general, exports, however, recorded a mild expansion. The growth pace was the most rapid in 2020 when exports increased by 545%. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

India (X kg), Italy (X kg) and Kazakhstan (X kg) were the main destinations of shaft coupling exports from Iraq, with a combined 66% share of total exports. Turkey lagged somewhat behind, accounting for a further 4%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Turkey (with a CAGR of +41.4%), while the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) emerged as the key foreign market for clutches and shaft couplings exports from Iraq, comprising 49% of total exports. The second position in the ranking was held by India ($X), with a 1.2% share of total exports. It was followed by Turkey, with a 0.6% share.

From 2012 to 2021, the average annual growth rate of value to Italy was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: India (0.0% per year) and Turkey (-63.5% per year).

Export Prices by Country

The average shaft coupling export price stood at $X per ton in 2021, remaining stable against the previous year. Overall, the export price, however, saw a perceptible slump. The growth pace was the most rapid in 2019 an increase of 282% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a lower figure.

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 2021, the most notable rate of growth in terms of prices was recorded for supplies to Ghana (+86.5%), while the prices for the other major destinations experienced a decline.

Shaft Coupling Imports

Imports into Iraq

In 2022, overseas purchases of clutches and shaft couplings increased by 6.7% to X tons, rising for the sixth year in a row after three years of decline. In general, imports showed strong growth. The growth pace was the most rapid in 2019 when imports increased by 185% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, shaft coupling imports contracted to $X in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when imports increased by 119% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

China (X tons), the United Arab Emirates (X tons) and Turkey (X tons) were the main suppliers of shaft coupling imports to Iraq, with a combined 78% share of total imports. Colombia, Taiwan (Chinese), Germany, the United States, Italy and France lagged somewhat behind, together comprising a further 15%.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +51.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constituted the largest supplier of clutches and shaft couplings to Iraq, comprising 30% of total imports. The second position in the ranking was taken by China ($X), with a 13% share of total imports. It was followed by Turkey, with a 9.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United Arab Emirates totaled +12.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+14.5% per year) and Turkey (+4.7% per year).

Import Prices by Country

In 2022, the average shaft coupling import price amounted to $X per ton, waning by -11.4% against the previous year. In general, the import price showed a abrupt descent. The growth pace was the most rapid in 2016 an increase of 30% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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