Iraq: Market for Diesel Engines (Other Than For Motor Vehicles And Aircraft) 2024

Market Size for Diesel Engines (Other Than For Motor Vehicles And Aircraft) in Iraq

The Iraqi market for diesel engines (other than for motor vehicles and aircraft) declined slightly to $X in 2022, which is down by -5% 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). Overall, consumption, however, posted a modest increase. Over the period under review, the market reached the peak level at $X in 2021, and then contracted slightly in the following year.

Exports of Diesel Engines (Other Than For Motor Vehicles And Aircraft)

Exports from Iraq

In 2022, overseas shipments of diesel engines (other than for motor vehicles and aircraft) decreased by 0% to X units for the first time since 2017, thus ending a four-year rising trend. Overall, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 150% against the previous year. Over the period under review, the exports of reached the maximum at X units in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, exports of diesel engines (other than for motor vehicles and aircraft) reduced dramatically to $X in 2022. In general, exports recorded a mild reduction. The growth pace was the most rapid in 2019 when exports increased by 5,684%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Georgia (X units), the United States (X units) and Turkey (X units) were the main destinations of exports of diesel engines (other than for motor vehicles and aircraft) from Iraq. Moreover, exports of diesel engines (other than for motor vehicles and aircraft) in Georgia exceeded the figures recorded by the second-largest exporter, the United States, twofold.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of 0.0%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the United States ($X) remains the key foreign market for diesel engines (other than for motor vehicles and aircraft) exports from Iraq, comprising 65% of total exports. The second position in the ranking was taken by Turkey ($X), with a 27% share of total exports. It was followed by Georgia, with a 6.4% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +48.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (-13.2% per year) and Georgia (0.0% per year).

Export Prices by Country

In 2022, the average export price for diesel engines (other than for motor vehicles and aircraft) amounted to $X per unit, reducing by -15.8% against the previous year. Overall, the export price recorded a mild slump. The most prominent rate of growth was recorded in 2019 when the average export price increased by 2,214% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2021, and then fell dramatically in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Georgia ($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 the United States (+48.5%).

Imports of Diesel Engines (Other Than For Motor Vehicles And Aircraft)

Imports into Iraq

In 2022, the amount of diesel engines (other than for motor vehicles and aircraft) imported into Iraq shrank to X units, waning by -4.8% on 2021. Over the period under review, imports, however, recorded perceptible growth. The most prominent rate of growth was recorded in 2016 with an increase of 101% against the previous year. Imports peaked at X units in 2021, and then fell slightly in the following year.

In value terms, imports of diesel engines (other than for motor vehicles and aircraft) contracted to $X in 2022. In general, imports recorded a pronounced downturn. The pace of growth was the most pronounced in 2019 when imports increased by 74%. Over the period under review, imports of hit record highs at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, India (X units) constituted the largest supplier of diesel engines (other than for motor vehicles and aircraft) to Iraq, accounting for a 58% share of total imports. Moreover, imports of diesel engines (other than for motor vehicles and aircraft) from India exceeded the figures recorded by the second-largest supplier, China (X units), fivefold. The third position in this ranking was taken by the United Arab Emirates (X units), with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from India totaled +4.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+16.6% per year) and the United Arab Emirates (+42.2% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of diesel engines (other than for motor vehicles and aircraft) to Iraq, comprising 36% of total imports. The second position in the ranking was taken by India ($X), with a 13% share of total imports. It was followed by the UK, with a 9.4% share.

From 2012 to 2022, the average annual growth rate of value from the United Arab Emirates amounted to +36.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-7.2% per year) and the UK (-14.0% per year).

Import Prices by Country

In 2022, the average import price for diesel engines (other than for motor vehicles and aircraft) amounted to $X per unit, flattening at the previous year. Over the period under review, the import price saw a deep slump. The growth pace was the most rapid in 2013 an increase of 15% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 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 the United Arab Emirates ($X per unit), while the price for Poland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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