Azerbaijan: Tow-Behind Air Compressor Market 2024

Tow-Behind Air Compressor Market Size in Azerbaijan

The Azerbaijani tow-behind air compressor market soared to $X in 2022, with an increase of 90% 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). In general, consumption recorded a resilient expansion. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in the near future.

Tow-Behind Air Compressor Exports

Exports from Azerbaijan

Tow-behind air compressor exports from Azerbaijan soared to X units in 2022, rising by 600% on the previous year's figure. In general, exports posted strong growth. The exports peaked at X units in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, tow-behind air compressor exports skyrocketed to $X in 2022. Over the period under review, exports saw a resilient increase. The most prominent rate of growth was recorded in 2019 with an increase of 46,333% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Iran (X units) was the main destination for tow-behind air compressor exports from Azerbaijan, with a 71% share of total exports. Moreover, tow-behind air compressor exports to Iran exceeded the volume sent to the second major destination, Georgia (X units), fivefold.

From 2012 to 2022, the average annual growth rate of volume to Iran totaled -2.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Georgia (0.0% per year) and the UK (0.0% per year).

In value terms, Iran ($X) emerged as the key foreign market for air compressors mounted on a wheeled chassis for towing exports from Azerbaijan, comprising 67% of total exports. The second position in the ranking was held by the UK ($X), with a 32% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Iran stood at +21.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+0.5% per year) and Georgia (-26.8% per year).

Export Prices by Country

The average tow-behind air compressor export price stood at $X per unit in 2022, growing by 1,544% against the previous year. Over the period under review, the export price, however, recorded a abrupt decrease. The most prominent rate of growth was recorded in 2019 an increase of 6,533%. The export price peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to Georgia ($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 Turkey (+1,654.0%), while the prices for the other major destinations experienced more modest paces of growth.

Tow-Behind Air Compressor Imports

Imports into Azerbaijan

In 2022, the amount of air compressors mounted on a wheeled chassis for towing imported into Azerbaijan skyrocketed to X units, increasing by 95% compared with the previous year. In general, imports recorded buoyant growth. The growth pace was the most rapid in 2017 with an increase of 153% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in the near future.

In value terms, tow-behind air compressor imports stood at $X in 2022. Over the period under review, imports, however, showed a abrupt downturn. The pace of growth appeared the most rapid in 2017 when imports increased by 866% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X units) was the main tow-behind air compressor supplier to Azerbaijan, with a 94% share of total imports. It was followed by Belgium (X units), with a 1.3% share of total imports. Turkey (X units) ranked third in terms of total imports with a 0.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +38.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-16.7% per year) and Turkey (-29.0% per year).

In value terms, China ($X), Belgium ($X) and Germany ($X) were the largest tow-behind air compressor suppliers to Azerbaijan, with a combined 54% share of total imports.

Among the main suppliers, China, with a CAGR of +31.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average tow-behind air compressor import price amounted to $X per unit, which is down by -42.6% against the previous year. Overall, the import price recorded a abrupt downturn. The growth pace was the most rapid in 2017 when the average import price increased by 282% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, 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 Belgium ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+2.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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