Azerbaijan: Market for Vacuum Pumps and Air or Gas Compressors 2024

Market Size for Vacuum Pumps and Air or Gas Compressors in Azerbaijan

In 2022, the Azerbaijani market for vacuum pumps and air or gas compressors increased by 13% to $X, rising for the second year in a row after two years of decline. In general, consumption enjoyed a prominent expansion. Consumption of peaked in 2022 and is likely to see gradual growth in the immediate term.

Production of Vacuum Pumps and Air or Gas Compressors in Azerbaijan

In value terms, production of vacuum pumps and air or gas compressors stood at $X in 2022 estimated in export price. Overall, the total production indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +6.6% 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 -2.0% against 2020 indices. The most prominent rate of growth was recorded in 2015 with an increase of 8.6% against the previous year. Over the period under review, production of attained the maximum level at $X in 2020; afterwards, it flattened through to 2022.

Exports of Vacuum Pumps and Air or Gas Compressors

Exports from Azerbaijan

In 2022, exports of vacuum pumps and air or gas compressors from Azerbaijan soared to X units, surging by 385% on 2021. Over the period under review, exports showed significant growth. The pace of growth was the most pronounced in 2018 when exports increased by 686%. As a result, the exports attained the peak of X units; afterwards, it flattened through to 2022.

In value terms, exports of vacuum pumps and air or gas compressors surged to $X in 2022. In general, exports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 550%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports of remained at a lower figure.

Exports by Country

The UK (X units) was the main destination for exports of vacuum pumps and air or gas compressors from Azerbaijan, accounting for a 53% share of total exports. Moreover, exports of vacuum pumps and air or gas compressors to the UK exceeded the volume sent to the second major destination, the United States (X units), twofold. The United Arab Emirates (X units) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to the UK stood at +33.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+74.4% per year) and the United Arab Emirates (+51.7% per year).

In value terms, the UK ($X) remains the key foreign market for vacuum pumps and air or gas compressors exports from Azerbaijan, comprising 64% of total exports. The second position in the ranking was held by the United States ($X), with a 13% share of total exports. It was followed by Kazakhstan, with a 12% share.

From 2012 to 2022, the average annual growth rate of value to the UK stood at +16.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+178.7% per year) and Kazakhstan (+9.8% per year).

Export Prices by Country

In 2022, the average export price for vacuum pumps and air or gas compressors amounted to $X per unit, declining by -37.4% against the previous year. Overall, the export price showed a deep reduction. The pace of growth appeared the most rapid in 2015 when the average export price increased by 315% against the previous year. The export price peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices remained at a 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 Kazakhstan ($X per unit), while the average price for exports to the United Arab Emirates ($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 the United States (+59.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Vacuum Pumps and Air or Gas Compressors

Imports into Azerbaijan

In 2022, supplies from abroad of vacuum pumps and air or gas compressors increased by 24% to X units, rising for the second consecutive year after two years of decline. In general, imports recorded strong growth. The pace of growth was the most pronounced in 2018 with an increase of 98% against the previous year. Over the period under review, imports of attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, imports of vacuum pumps and air or gas compressors shrank notably to $X in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 882% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports of failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest vacuum pump and air or gas compressor supplier to Azerbaijan, with a 50% share of total imports. Moreover, imports of vacuum pumps and air or gas compressors from China exceeded the figures recorded by the second-largest supplier, India (X units), threefold. Turkey (X units) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +27.1%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+201.3% per year) and Turkey (+1.5% per year).

In value terms, China ($X), Germany ($X) and Turkey ($X) were the largest vacuum pump and air or gas compressor suppliers to Azerbaijan, together accounting for 55% of total imports. India, Brazil, Slovakia and Belarus lagged somewhat behind, together comprising a further 7.1%.

India, with a CAGR of +68.6%, 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

The average import price for vacuum pumps and air or gas compressors stood at $X per unit in 2022, with a decrease of -63.4% against the previous year. In general, the import price recorded a abrupt descent. The pace of growth was the most pronounced in 2014 an increase of 604%. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the average import prices remained at a 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 Germany ($X per unit), while the price for India ($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 (+9.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :