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

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

The Libyan market for turbo, rotary and reciporating displacement compressors surged to $X in 2022, growing by 60% 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). Over the period under review, consumption enjoyed a remarkable increase. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Exports of Turbo, Rotary and Reciporating Displacement Compressors

Exports from Libya

After three years of growth, shipments abroad of turbo, rotary and reciporating displacement compressors decreased by -35.7% to X units in 2022. In general, exports recorded a dramatic contraction. The pace of growth was the most pronounced in 2016 with an increase of 300%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of turbo, rotary and reciporating displacement compressors shrank rapidly to $X in 2022. Over the period under review, exports recorded a dramatic setback. The most prominent rate of growth was recorded in 2021 when exports increased by 1,281% against the previous year. Over the period under review, the exports of attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X units) was the main destination for exports of turbo, rotary and reciporating displacement compressors from Libya, accounting for a 67% share of total exports. Moreover, exports of turbo, rotary and reciporating displacement compressors to Germany exceeded the volume sent to the second major destination, Egypt (X units), sixfold. Tunisia (X units) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to Germany amounted to -27.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (-19.7% per year) and Tunisia (-17.7% per year).

In value terms, Germany ($X) remains the key foreign market for turbo, rotary and reciporating displacement compressors exports from Libya, comprising 75% of total exports. The second position in the ranking was held by Italy ($X), with a 22% share of total exports. It was followed by Egypt, with a 1.7% share.

From 2012 to 2022, the average annual growth rate of value to Germany amounted to -27.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (-42.8% per year) and Egypt (-29.4% per year).

Export Prices by Country

The average export price for turbo, rotary and reciporating displacement compressors stood at $X per unit in 2022, declining by -16.6% against the previous year. Over the period under review, the export price faced a abrupt slump. The most prominent rate of growth was recorded in 2021 an increase of 294%. Over the period under review, the average export prices hit record highs at $X per unit in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per unit), while the average price for exports to Tunisia ($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 Germany (-0.1%), while the prices for the other major destinations experienced a decline.

Imports of Turbo, Rotary and Reciporating Displacement Compressors

Imports into Libya

Imports of turbo, rotary and reciporating displacement compressors into Libya soared to X units in 2022, jumping by 84% compared with 2021 figures. In general, imports enjoyed buoyant growth. The pace of growth was the most pronounced in 2013 when imports increased by 243% against the previous year. As a result, imports reached the peak of X units. From 2014 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of turbo, rotary and reciporating displacement compressors soared to $X in 2022. Overall, imports enjoyed strong growth. The growth pace was the most rapid in 2013 when imports increased by 293% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports of remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest turbo, rotary and reciporating displacement compressor supplier to Libya, accounting for a 67% share of total imports. Moreover, imports of turbo, rotary and reciporating displacement compressors from China exceeded the figures recorded by the second-largest supplier, Turkey (X units), threefold. The third position in this ranking was taken by the United States (X units), with a 4.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +15.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+16.1% per year) and the United States (+31.3% per year).

In value terms, the largest turbo, rotary and reciporating displacement compressor suppliers to Libya were China ($X), Turkey ($X) and the United States ($X), with a combined 56% share of total imports. Ireland and Italy lagged somewhat behind, together accounting for a further 14%.

Ireland, with a CAGR of +65.7%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for turbo, rotary and reciporating displacement compressors amounted to $X per unit, which is down by -19.7% against the previous year. In general, the import price continues to indicate a perceptible decrease. The pace of growth appeared the most rapid in 2016 an increase of 18%. As a result, import price reached the peak level of $X per unit. From 2017 to 2022, the average 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 Ireland ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+5.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :