Iraq: Market for Gearboxes and Speed Changers 2024

Market Size for Gearboxes and Speed Changers in Iraq

In 2022, the Iraqi gearboxes and speed changers market decreased by X% to $X for the first time since 2017, thus ending a four-year rising trend. In general, consumption, however, saw a resilient increase. Gearboxes and speed changers consumption peaked at $X in 2021, and then dropped in the following year.

Exports of Gearboxes and Speed Changers

Exports from Iraq

In 2022, shipments abroad of gearboxes and speed changers increased by X% to X kg for the first time since 2014, thus ending a seven-year declining trend. Overall, exports, however, saw a abrupt descent. Over the period under review, the exports reached the peak figure at X kg in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, gearboxes and speed changers exports reduced to $X in 2022. In general, exports, however, showed a deep contraction. The pace of growth appeared the most rapid in 2013 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Italy (X kg) was the main destination for gearboxes and speed changers exports from Iraq, accounting for a X% share of total exports. It was followed by Sweden (X kg), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Italy amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (X% per year) and Germany (X% per year).

In value terms, Italy ($X) emerged as the key foreign market for gearboxes and speed changers exports from Iraq, comprising X% of total exports. The second position in the ranking was held by Germany ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Italy amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Sweden (X% per year).

Export Prices by Country

The average gearboxes and speed changers export price stood at $X per ton in 2022, shrinking by X% against the previous year. Overall, the export price continues to indicate a pronounced decline. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gearboxes and Speed Changers

Imports into Iraq

In 2022, after four years of growth, there was decline in overseas purchases of gearboxes and speed changers, when their volume decreased by X% to X tons. Overall, imports, however, saw a resilient increase. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2021, and then declined modestly in the following year.

In value terms, gearboxes and speed changers imports contracted dramatically to $X in 2022. In general, imports, however, posted a prominent increase. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest gearboxes and speed changers supplier to Iraq, with a X% share of total imports. Moreover, gearboxes and speed changers imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), threefold. The third position in this ranking was held by the United Arab Emirates (X tons), with an X% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and the United Arab Emirates (X% per year).

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

From 2012 to 2022, the average annual growth rate of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and the United Arab Emirates (X% per year).

Import Prices by Country

In 2022, the average gearboxes and speed changers import price amounted to $X per ton, which is down by X% against the previous year. In general, the import price recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 Russia (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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