Iraq: Internal Combustion Engines Market 2025

Internal Combustion Engines Market Size in Iraq

The Iraqi internal combustion engines market skyrocketed to $X in 2021, increasing by 42% 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 posted a significant increase. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in years to come.

Internal Combustion Engines Exports

Exports from Iraq

For the fifth consecutive year, Iraq recorded decline in shipments abroad of motor vehicles compression-ignition internal combustion piston engines, which decreased by -25% to X units in 2021. In general, exports, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2013 with an increase of 525% against the previous year. As a result, the exports attained the peak of X units. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, internal combustion engines exports declined modestly to $X in 2021. Over the period under review, exports, however, saw a resilient expansion. The pace of growth was the most pronounced in 2013 when exports increased by 1,200%. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Azerbaijan (X units) was the main destination for internal combustion engines exports from Iraq, with a 83% share of total exports. Moreover, internal combustion engines exports to Azerbaijan exceeded the volume sent to the second major destination, Angola (X units), tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Azerbaijan was relatively modest.

In value terms, Azerbaijan ($X) emerged as the key foreign market for motor vehicles compression-ignition internal combustion piston engines exports from Iraq, comprising 94% of total exports. The second position in the ranking was taken by Angola ($X), with a 2.1% share of total exports. It was followed by Germany, with a 1.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Azerbaijan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (-5.5% per year) and Germany (-23.7% per year).

Export Prices by Country

The average internal combustion engines export price stood at $X per unit in 2021, growing by 29% against the previous year. Over the period under review, the export price saw a noticeable increase. The most prominent rate of growth was recorded in 2013 an increase of 91% against the previous year. The export price peaked at $X per unit in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+13.8%), while the prices for the other major destinations experienced mixed trend patterns.

Internal Combustion Engines Imports

Imports into Iraq

Internal combustion engines imports into Iraq skyrocketed to X units in 2021, increasing by 80% on 2020. Overall, imports saw significant growth. The pace of growth was the most pronounced in 2017 when imports increased by 103%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, internal combustion engines imports stood at $X in 2021. Over the period under review, imports posted a resilient increase. The growth pace was the most rapid in 2019 with an increase of 63%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

Imports by Country

Malaysia (X units), China (X units) and South Korea (X units) were the main suppliers of internal combustion engines imports to Iraq, together comprising 43% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +105.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), South Korea ($X) and Malaysia ($X) were the largest internal combustion engines suppliers to Iraq, together accounting for 39% of total imports. These countries were followed by Hungary, Estonia, Poland and Switzerland, which together accounted for a further 5.6%.

Among the main suppliers, Hungary, with a CAGR of +65.2%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average internal combustion engines import price amounted to $X per unit, reducing by -39.6% against the previous year. Over the period under review, the import price continues to indicate a abrupt descent. The growth pace was the most rapid in 2020 when the average import price increased by 32% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Estonia (+6.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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