Azerbaijan: Tools For Bearing Market 2025

Tools For Bearing Market Size in Azerbaijan

The Azerbaijani tools for bearing market surged to $X in 2022, rising by 75% 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 significant growth. Tools for bearing consumption peaked in 2022 and is expected to retain growth in the near future.

Tools For Bearing Exports

Exports from Azerbaijan

In 2022, after two years of growth, there was significant decline in shipments abroad of balls, needles and rollers for ball or roller bearings, when their volume decreased by -92.4% to X kg. In general, exports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 1,155%. As a result, the exports attained the peak of X kg. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, tools for bearing exports dropped notably to $X in 2022. Overall, exports continue to indicate a pronounced slump. The pace of growth appeared the most rapid in 2019 when exports increased by 94% against the previous year. The exports peaked at $X in 2021, and then contracted significantly in the following year.

Exports by Country

Russia (X kg) was the main destination for tools for bearing exports from Azerbaijan, with a 65% share of total exports. Moreover, tools for bearing exports to Russia exceeded the volume sent to the second major destination, Kazakhstan (X kg), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Russia stood at +9.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kazakhstan (-53.0% per year) and Mozambique (0.0% per year).

In value terms, Russia ($X), Kazakhstan ($X) and Mozambique ($X) were the largest markets for tools for bearing exported from Azerbaijan worldwide.

Among the main countries of destination, Mozambique, with a CAGR of 0.0%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average tools for bearing export price stood at $X per ton in 2022, falling by -24.7% against the previous year. Over the period under review, the export price recorded a abrupt decline. The growth pace was the most rapid in 2019 when the average export price increased by 344%. The export price peaked at $X per ton in 2014; however, from 2015 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 Mozambique ($X per ton), while the average price for exports to Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+33.1%), while the prices for the other major destinations experienced mixed trend patterns.

Tools For Bearing Imports

Imports into Azerbaijan

In 2022, approx. X tons of balls, needles and rollers for ball or roller bearings were imported into Azerbaijan; with an increase of 75% compared with 2021. In general, imports saw a significant increase. The pace of growth was the most pronounced in 2016 when imports increased by 372%. Imports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, tools for bearing imports skyrocketed to $X in 2022. Over the period under review, imports continue to indicate a notable increase. The growth pace was the most rapid in 2015 with an increase of 95% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

China (X tons), Turkey (X tons) and Germany (X tons) were the main suppliers of tools for bearing imports to Azerbaijan, together accounting for 72% of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +188.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Turkey ($X) and Italy ($X) constituted the largest tools for bearing suppliers to Azerbaijan, together comprising 45% of total imports.

China, with a CAGR of +134.0%, 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 tools for bearing import price stood at $X per ton in 2022, with a decrease of -15.2% against the previous year. Overall, the import price recorded a deep contraction. The pace of growth was the most pronounced in 2018 an increase of 64%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+0.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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