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

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

In 2022, the Azerbaijani market for turbo, rotary and reciporating displacement compressors increased by 1.7% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption continues to indicate significant growth. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Exports of Turbo, Rotary and Reciporating Displacement Compressors

Exports from Azerbaijan

In 2022, shipments abroad of turbo, rotary and reciporating displacement compressors increased by 421% to X units, rising for the second year in a row after two years of decline. Overall, exports continue to indicate a significant expansion. The growth pace was the most rapid in 2018 with an increase of 1,190%. As a result, the exports attained the peak of X units. From 2019 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of turbo, rotary and reciporating displacement compressors surged to $X in 2022. In general, exports showed a strong increase. The pace of growth was the most pronounced in 2020 with an increase of 1,600% against the previous year. Over the period under review, the exports of hit record highs at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The UK (X units) was the main destination for exports of turbo, rotary and reciporating displacement compressors from Azerbaijan, with a 84% share of total exports. Moreover, exports of turbo, rotary and reciporating displacement compressors to the UK exceeded the volume sent to the second major destination, Kazakhstan (X units), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the UK amounted to +33.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kazakhstan (+38.2% per year) and Belgium (-6.7% per year).

In value terms, the UK ($X) remains the key foreign market for turbo, rotary and reciporating displacement compressors exports from Azerbaijan, comprising 83% of total exports. The second position in the ranking was held by Kazakhstan ($X), with a 9.1% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the UK stood at +16.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kazakhstan (+24.6% per year) and Belgium (+8.1% per year).

Export Prices by Country

The average export price for turbo, rotary and reciporating displacement compressors stood at $X per unit in 2022, falling by -46.3% against the previous year. In general, the export price recorded a abrupt contraction. The most prominent rate of growth was recorded in 2020 an increase of 2,922%. As a result, the export price reached the peak level of $X per unit. From 2021 to 2022, the average export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Kazakhstan ($X per unit), while the average price for exports to Belgium ($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 Belgium (+15.8%), while the prices for the other major destinations experienced a decline.

Imports of Turbo, Rotary and Reciporating Displacement Compressors

Imports into Azerbaijan

In 2022, supplies from abroad of turbo, rotary and reciporating displacement compressors increased by 14% to X units, rising for the second consecutive year after two years of decline. Overall, imports enjoyed significant growth. The most prominent rate of growth was recorded in 2014 when imports increased by 270% against the previous year. Over the period under review, imports of reached the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, imports of turbo, rotary and reciporating displacement compressors declined remarkably to $X in 2022. In general, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 1,400%. As a result, imports attained the peak of $X. From 2015 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 Azerbaijan, with a 65% 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), fivefold. The third position in this ranking was taken by Germany (X units), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +42.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+11.6% per year) and Germany (+32.9% per year).

In value terms, the largest turbo, rotary and reciporating displacement compressor suppliers to Azerbaijan were China ($X), Germany ($X) and Japan ($X), with a combined 63% share of total imports.

Japan, with a CAGR of +101.4%, recorded the highest growth rate of the value of imports, among 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 turbo, rotary and reciporating displacement compressors stood at $X per unit in 2022, which is down by -69.2% against the previous year. Overall, the import price faced a deep downturn. The growth pace was the most rapid in 2014 an increase of 305% against the previous year. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the average import prices remained 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 the United States ($X per unit), while the price for Belarus ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (-1.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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