Iraq: Cylindrical Roller Bearing Market 2024

Cylindrical Roller Bearing Market Size in Iraq

In 2022, after two years of decline, there was significant growth in the Iraqi cylindrical roller bearing market, when its value increased by 21% to $X. Overall, consumption showed buoyant growth. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a somewhat lower figure.

Cylindrical Roller Bearing Exports

Exports from Iraq

In 2022, the amount of cylindrical roller bearings exported from Iraq amounted to X kg, remaining stable against the previous year. In general, exports enjoyed prominent growth. The smallest decline of 99.9% was in 2017. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, cylindrical roller bearing exports totaled $X in 2022. Overall, exports enjoyed significant growth. The smallest decline of 99.9% was in 2017. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The shipments of the three major exporters of cylindrical roller bearings, namely Germany, China and Japan, represented more than half of total export. It was distantly followed by Romania (X tons) and Slovakia (X tons), together constituting a 13% share of total exports. Taiwan (Chinese) (X tons), Kazakhstan (X tons), Canada (X tons), Russia (X tons), Hong Kong SAR (X tons), Poland (X tons), France (X tons) and Italy (X tons) took a little share of total exports.

From 2016 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +96.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the largest cylindrical roller bearing supplier from Iraq, comprising 27% of global exports. The second position in the ranking was taken by Japan ($X), with an 11% share of global exports. It was followed by China, with an 8.9% share.

In Germany, cylindrical roller bearing exports increased at an average annual rate of +2.4% over the period from 2016-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (+1.6% per year) and China (+8.5% per year).

Export Prices by Country

In 2022, the export price in Iraq amounted to $X per ton, leveling off at the previous year. Overall, the export price continues to indicate significant growth. The pace of growth appeared the most rapid in 2017 when the export price decreased by 99.9%. Over the period under review, the export prices hit record highs in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2016 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+7.7%), while the other leaders experienced more modest paces of growth.

Cylindrical Roller Bearing Imports

Imports into Iraq

In 2022, overseas purchases of cylindrical roller bearings were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, imports saw buoyant growth. The most prominent rate of growth was recorded in 2015 with an increase of 363% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, cylindrical roller bearing imports soared to $X in 2022. Over the period under review, imports recorded notable growth. The pace of growth was the most pronounced in 2015 with an increase of 162% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X tons), Russia (X tons) and Germany (X tons) was the largest importer of cylindrical roller bearings in the world, comprising 42% of total import. It was distantly followed by the United States (X tons), mixing up a 5.7% share of total imports. Spain (X tons), Mexico (X tons), Italy (X tons), Brazil (X tons), Thailand (X tons), South Korea (X tons), Indonesia (X tons), Turkey (X tons) and the Czech Republic (X tons) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Thailand (with a CAGR of +20.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Germany ($X) and the United States ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 43% of total imports. Mexico, Italy, Brazil, Russia, South Korea, Spain, Indonesia, Turkey, the Czech Republic and Thailand lagged somewhat behind, together comprising a further 23%.

Spain, with a CAGR of +13.7%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Iraq stood at $X per ton in 2022, dropping by -6.3% against the previous year. In general, the import price showed a abrupt downturn. The pace of growth was the most pronounced in 2016 when the import price increased by 48% against the previous year. Over the period under review, import prices attained the peak figure 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 destination: amid the top importers, the country with the highest price was the United States ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+2.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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