Iraq: Spherical Roller Bearing Market 2024

Spherical Roller Bearing Market Size in Iraq

The Iraqi spherical roller bearing market contracted remarkably to $X in 2022, which is down by X% 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 continues to indicate a pronounced decline. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Spherical Roller Bearing Exports

Exports from Iraq

In 2021, overseas shipments of spherical roller bearings decreased by X% to X kg, falling for the second consecutive year after two years of decline. Over the period under review, exports saw a significant increase. The smallest decline of X% was in 2020. The Iraq exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, spherical roller bearing exports amounted to $X in 2021. Overall, exports saw a significant increase. The smallest decline of X% was in 2020. The Iraq exports peaked in 2021 and are likely to see gradual growth in the near future.

Exports by Country

The shipments of the four major exporters of spherical roller bearings, namely China, Germany, Sweden and Japan, represented more than half of total export. It was distantly followed by Belgium (X tons), mixing up a X% share of total exports. Singapore (X tons), Romania (X tons), Malaysia (X tons), France (X tons), the Czech Republic (X tons), the United States (X tons), the UK (X tons) and Belarus (X tons) took a little share of total exports.

From 2017 to 2021, the biggest increases were recorded for Belgium (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest spherical roller bearing supplying countries from Iraq were Germany ($X), Sweden ($X) and China ($X), together comprising X% of total exports. Japan, Belgium, Singapore, the United States, France, Malaysia, Romania, the UK, the Czech Republic and Belarus lagged somewhat behind, together accounting for a further X%.

In terms of the main exporting countries, Belgium, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Iraq stood at $X per ton in 2021, approximately reflecting the previous year. Over the period under review, the export price recorded a resilient expansion. The most prominent rate of growth was recorded in 2020 when the export price decreased by X%. Over the period under review, the export prices hit record highs in 2021 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Belarus ($X per ton) was amongst the lowest.

From 2017 to 2021, the most notable rate of growth in terms of prices was attained by the United States (X%), while the other leaders experienced more modest paces of growth.

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Spherical Roller Bearing Imports

Imports into Iraq

In 2022, approx. X tons of spherical roller bearings were imported into Iraq; with a decrease of X% on the year before. In general, imports, however, showed a strong expansion. The growth pace was the most rapid in 2019 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, spherical roller bearing imports fell to $X in 2022. Overall, imports showed a pronounced curtailment. The pace of growth was the most pronounced in 2019 with an increase of X%. Iraq imports peaked at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The purchases of the twelve major importers of spherical roller bearings, namely Belgium, China, the United States, Germany, India, Russia, France, Brazil, Denmark, South Korea, Thailand and Turkey, represented more than half of total import. Italy (X tons) held a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and Belgium ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports. India, Germany, France, Brazil, Italy, South Korea, Russia, Turkey, Denmark and Thailand lagged somewhat behind, together comprising a further X%.

India, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Iraq stood at $X per ton in 2022, surging by X% against the previous year. Overall, the import price, however, saw a abrupt downturn. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. Iraq import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($X per ton), while Thailand ($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 (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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