Jordan: Market for Turbo, Rotary and Reciporating Displacement Compressors 2024

Market Size for Turbo, Rotary and Reciporating Displacement Compressors in Jordan

In 2022, the Jordanian market for turbo, rotary and reciporating displacement compressors increased by 45% to $X, rising for the second year in a row after two years of decline. Over the period under review, the total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +56.5% against 2020 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Turbo, Rotary and Reciporating Displacement Compressors in Jordan

In value terms, production of turbo, rotary and reciporating displacement compressors amounted to $X in 2022 estimated in export price. Overall, the total production indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by +0.1% against 2019 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by 51%. As a result, production attained the peak level of $X. From 2018 to 2022, production of growth remained at a lower figure.

Exports of Turbo, Rotary and Reciporating Displacement Compressors

Exports from Jordan

In 2022, overseas shipments of turbo, rotary and reciporating displacement compressors decreased by -62.3% to X units for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, recorded prominent growth. The most prominent rate of growth was recorded in 2017 when exports increased by 357%. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of turbo, rotary and reciporating displacement compressors shrank notably to $X in 2022. Overall, exports, however, showed buoyant growth. The most prominent rate of growth was recorded in 2013 with an increase of 142%. The exports peaked at $X in 2021, and then fell remarkably in the following year.

Exports by Country

Saudi Arabia (X units) was the main destination for exports of turbo, rotary and reciporating displacement compressors from Jordan, accounting for a 71% share of total exports. Moreover, exports of turbo, rotary and reciporating displacement compressors to Saudi Arabia exceeded the volume sent to the second major destination, Free Zones (X units), fivefold.

From 2012 to 2022, the average annual growth rate of volume to Saudi Arabia amounted to +51.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Free Zones (+4.2% per year) and Syrian Arab Republic (+1.6% per year).

In value terms, Saudi Arabia ($X) remains the key foreign market for turbo, rotary and reciporating displacement compressors exports from Jordan, comprising 80% of total exports. The second position in the ranking was taken by Free Zones ($X), with a 17% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Saudi Arabia totaled +46.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Free Zones (+0.7% per year) and Syrian Arab Republic (+0.5% per year).

Export Prices by Country

In 2022, the average export price for turbo, rotary and reciporating displacement compressors amounted to $X per unit, with an increase of 105% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by 298%. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Free Zones ($X per unit), while the average price for exports to Syrian Arab Republic ($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 Syrian Arab Republic (-1.1%), while the prices for the other major destinations experienced a decline.

Imports of Turbo, Rotary and Reciporating Displacement Compressors

Imports into Jordan

In 2022, imports of turbo, rotary and reciporating displacement compressors into Jordan soared to X units, increasing by 95% on the year before. Overall, imports recorded a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of turbo, rotary and reciporating displacement compressors dropped dramatically to $X in 2022. Over the period under review, imports, however, showed a abrupt descent. The most prominent rate of growth was recorded in 2015 when imports increased by 55%. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports of remained at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of turbo, rotary and reciporating displacement compressor to Jordan, accounting for a 51% share of total imports. Moreover, imports of turbo, rotary and reciporating displacement compressors from China exceeded the figures recorded by the second-largest supplier, Thailand (X units), more than tenfold. The third position in this ranking was taken by Turkey (X units), with a 2.3% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-1.0% per year) and Turkey (+20.8% per year).

In value terms, China ($X) constituted the largest supplier of turbo, rotary and reciporating displacement compressors to Jordan, comprising 26% of total imports. The second position in the ranking was held by Thailand ($X), with a 12% share of total imports. It was followed by Germany, with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled -2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-1.5% per year) and Germany (-5.9% per year).

Import Prices by Country

In 2022, the average import price for turbo, rotary and reciporating displacement compressors amounted to $X per unit, shrinking by -65.8% against the previous year. In general, the import price saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2015 an increase of 20%. As a result, import price reached the peak level of $X per unit. From 2016 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform