Iraq: Market for Pneumatic Or Hydraulic Hand Tools 2024

Market Size for Pneumatic Or Hydraulic Hand Tools in Iraq

The Iraqi market for pneumatic or hydraulic hand tools rose rapidly to $X in 2021, growing by 13% against the previous year. The market value increased at an average annual rate of +2.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Production of Pneumatic Or Hydraulic Hand Tools in Iraq

In value terms, pneumatic or hydraulic hand tool production soared to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 when the production volume increased by 22% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Exports of Pneumatic Or Hydraulic Hand Tools

Exports from Iraq

In 2021, overseas shipments of pneumatic or hydraulic hand tools increased by 24% to X tons, rising for the second year in a row after six years of decline. Over the period under review, exports, however, showed a deep downturn. The most prominent rate of growth was recorded in 2020 with an increase of 100%. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, pneumatic or hydraulic hand tool exports reached $X in 2021. In general, exports, however, continue to indicate a deep setback. The pace of growth appeared the most rapid in 2020 when exports increased by 89% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Turkey (X tons) was the main destination for pneumatic or hydraulic hand tool exports from Iraq, accounting for a approx. 98% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Turkey stood at +6.3%.

In value terms, Turkey ($X) emerged as the key foreign market for pneumatic or hydraulic hand tools exports from Iraq.

From 2012 to 2021, the average annual growth rate of value to Turkey amounted to +9.1%.

Export Prices by Country

The average export price for pneumatic or hydraulic hand tools stood at $X per ton in 2021, reducing by -17.9% against the previous year. Overall, the export price showed a abrupt descent. The pace of growth was the most pronounced in 2014 an increase of 26% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Turkey.

From 2012 to 2021, the rate of growth in terms of prices for Turkey amounted to +2.6% per year.

Imports of Pneumatic Or Hydraulic Hand Tools

Imports into Iraq

In 2021, purchases abroad of pneumatic or hydraulic hand tools increased by 3.7% to X tons, rising for the fifth year in a row after three years of decline. In general, imports showed strong growth. The most prominent rate of growth was recorded in 2017 with an increase of 94%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, pneumatic or hydraulic hand tool imports reduced to $X in 2021. Over the period under review, total imports indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +13.0% against 2019 indices. The pace of growth appeared the most rapid in 2017 when imports increased by 75% against the previous year. Imports peaked at $X in 2020, and then shrank in the following year.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of pneumatic or hydraulic hand tool to Iraq, with a 65% share of total imports. Moreover, pneumatic or hydraulic hand tool imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), threefold. Turkey (X tons) ranked third in terms of total imports with a 5% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +32.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+13.8% per year) and Turkey (-10.1% per year).

In value terms, China ($X) constituted the largest supplier of pneumatic or hydraulic hand tools to Iraq, comprising 59% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 22% share of total imports. It was followed by Turkey, with a 3.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +10.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+21.0% per year) and Turkey (-10.8% per year).

Import Prices by Country

The average import price for pneumatic or hydraulic hand tools stood at $X per ton in 2021, with a decrease of -16.5% against the previous year. Overall, the import price showed a abrupt decrease. The pace of growth appeared the most rapid in 2014 when the average import price increased by 55%. Over the period under review, average import prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+19.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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