Overview of the Global Market for Iron Or Steel Bridges And Bridge-Sections

Market Size for Iron Or Steel Bridges And Bridge-Sections

The global iron or steel bridges market rose sharply to $X in 2022, with an increase of 12% against the previous year. The market value increased at an average annual rate of +2.7% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. Over the period under review, the global market hit record highs in 2022 and is likely to see steady growth in the near future.

Production of Iron Or Steel Bridges And Bridge-Sections

In value terms, iron or steel bridges production declined modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.2% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2014 with an increase of 14%. Global production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Iron Or Steel Bridges And Bridge-Sections

Exports

After two years of decline, shipments abroad of iron or steel bridges and bridge-sections increased by 13% to X tons in 2022. Over the period under review, exports recorded a strong increase. The most prominent rate of growth was recorded in 2017 when exports increased by 66%. Over the period under review, the global exports attained the peak figure at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, iron or steel bridges exports rose rapidly to $X in 2022. In general, total exports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +67.8% against 2016 indices. The most prominent rate of growth was recorded in 2013 with an increase of 26% against the previous year. The global exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Bahrain represented the key exporting country with an export of around X tons, which accounted for 47% of total exports. It was distantly followed by China (X tons) and the United Arab Emirates (X tons), together generating a 24% share of total exports. Saudi Arabia (X tons), Italy (X tons), the UK (X tons) and the United States (X tons) followed a long way behind the leaders.

Bahrain was also the fastest-growing in terms of the iron or steel bridges and bridge-sections exports, with a CAGR of +203.3% from 2012 to 2022. At the same time, China (+10.9%) and the United Arab Emirates (+1.7%) displayed positive paces of growth. Italy and the UK experienced a relatively flat trend pattern. By contrast, Saudi Arabia (-4.3%) and the United States (-5.9%) illustrated a downward trend over the same period. While the share of Bahrain (+47 p.p.) and China (+3.8 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of the UK (-2.1 p.p.), Italy (-3.2 p.p.), the United States (-4.7 p.p.), the United Arab Emirates (-5 p.p.) and Saudi Arabia (-8.4 p.p.) displayed negative dynamics.

In value terms, the largest iron or steel bridges supplying countries worldwide were Bahrain ($X), China ($X) and Italy ($X), with a combined 51% share of global exports.

Bahrain, with a CAGR of +192.8%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average iron or steel bridges export price amounted to $X per ton, which is down by -6.7% against the previous year. In general, the export price continues to indicate a pronounced slump. The most prominent rate of growth was recorded in 2021 when the average export price increased by 29% against the previous year. The global export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the UK ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+2.8%), while the other global leaders experienced more modest paces of growth.

Imports of Iron Or Steel Bridges And Bridge-Sections

Imports

In 2022, approx. X tons of iron or steel bridges and bridge-sections were imported worldwide; waning by -6.1% against 2021. Overall, total imports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -7.8% against 2019 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 35%. Over the period under review, global imports attained the peak figure at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, iron or steel bridges imports shrank slightly to $X in 2022. The total import value increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when imports increased by 35% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of global imports failed to regain momentum.

Imports by Country

Saudi Arabia (X tons) and the United Arab Emirates (X tons) represented roughly 43% of total imports in 2022. It was distantly followed by Bangladesh (X tons) and Oman (X tons), together comprising an 11% share of total imports. India (X tons), Kuwait (X tons), the United States (X tons), the Netherlands (X tons), Morocco (X tons), Peru (X tons) and the UK (X tons) held a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Morocco (with a CAGR of +62.1%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and India ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 23% share of global imports. The United States, Bangladesh, Morocco, the UK, the Netherlands, Oman, Peru and Kuwait lagged somewhat behind, together comprising a further 27%.

Morocco, with a CAGR of +71.4%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average iron or steel bridges import price stood at $X per ton in 2022, increasing by 2.9% against the previous year. Overall, the import price, however, showed a noticeable reduction. The pace of growth appeared the most rapid in 2021 an increase of 15% against the previous year. Global import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Morocco (+5.7%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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