Azerbaijan: Market for Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles 2024

Market Size for Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles in Azerbaijan

In 2022, the Azerbaijani market for tyres for agriculture, forestry, construction, industry and other off the road vehicles increased by 61% to $X for the first time since 2019, thus ending a two-year declining trend. In general, consumption saw a resilient expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Exports of Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles

Exports from Azerbaijan

In 2022, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from Azerbaijan dropped significantly to X units, waning by -28.6% on 2021. In general, exports, however, continue to indicate a temperate increase. The pace of growth was the most pronounced in 2015 when exports increased by 764%. As a result, the exports reached the peak of X units. From 2016 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles declined to $X in 2022. Overall, exports, however, showed a temperate increase. The pace of growth appeared the most rapid in 2017 with an increase of 918%. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Georgia (X units) was the main destination for exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from Azerbaijan, with a 70% share of total exports. Moreover, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles to Georgia exceeded the volume sent to the second major destination, Russia (X units), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Georgia stood at +8.8%.

In value terms, Georgia ($X) remains the key foreign market for tyres for agriculture, forestry, construction, industry and other off the road vehicles exports from Azerbaijan, comprising 71% of total exports. The second position in the ranking was held by Russia ($X), with a 29% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Georgia stood at +13.9%.

Export Prices by Country

In 2022, the average export price for tyres for agriculture, forestry, construction, industry and other off the road vehicles amounted to $X per unit, jumping by 28% against the previous year. Over the period under review, the export price showed a pronounced expansion. The most prominent rate of growth was recorded in 2019 when the average export price increased by 162% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2020 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Georgia ($X per unit), while the average price for exports to Russia stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Georgia (+4.6%).

Imports of Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles

Imports into Azerbaijan

After two years of decline, purchases abroad of tyres for agriculture, forestry, construction, industry and other off the road vehicles increased by 79% to X units in 2022. Over the period under review, imports enjoyed resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles stood at $X in 2022. In general, imports recorded prominent growth. The growth pace was the most rapid in 2016 when imports increased by 51%. Over the period under review, imports of tyres for agriculture, forestry, construction, industry and other off road vehicles hit record highs in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, Turkey (X units) constituted the largest supplier of agricultural, construction and industrial machinery tyre to Azerbaijan, accounting for a 72% share of total imports. Moreover, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from Turkey exceeded the figures recorded by the second-largest supplier, China (X units), sixfold. The third position in this ranking was taken by Russia (X units), with a 4.4% share.

From 2012 to 2022, the average annual growth rate of volume from Turkey stood at +27.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+19.4% per year) and Russia (+4.9% per year).

In value terms, Turkey ($X) constituted the largest supplier of tyres for agriculture, forestry, construction, industry and other off the road vehicles to Azerbaijan, comprising 42% of total imports. The second position in the ranking was held by China ($X), with a 17% share of total imports. It was followed by Belarus, with a 10% share.

From 2012 to 2022, the average annual growth rate of value from Turkey totaled +8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+13.0% per year) and Belarus (+25.4% per year).

Import Prices by Country

The average import price for tyres for agriculture, forestry, construction, industry and other off the road vehicles stood at $X per unit in 2022, shrinking by -36.2% against the previous year. In general, the import price continues to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2021 when the average import price increased by 59% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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 Sri Lanka ($X per unit), while the price for Iran ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belarus (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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