Azerbaijan: Shaft Coupling Market 2024

Shaft Coupling Market Size in Azerbaijan

After two years of growth, the Azerbaijani shaft coupling market decreased by -38.6% to $X in 2022. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Shaft Coupling Exports

Exports from Azerbaijan

In 2022, shipments abroad of clutches and shaft couplings increased by 72% to X kg, rising for the second year in a row after two years of decline. Overall, exports posted a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 7,580%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, shaft coupling exports soared to $X in 2022. Over the period under review, exports showed a significant increase. The most prominent rate of growth was recorded in 2017 when exports increased by 1,916% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Russia (X kg), the UK (X kg) and the Netherlands (X kg) were the main destinations of shaft coupling exports from Azerbaijan, together accounting for 73% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +40.7%), while the other leaders experienced more modest paces of growth.

In value terms, the UK ($X) emerged as the key foreign market for clutches and shaft couplings exports from Azerbaijan, comprising 45% of total exports. The second position in the ranking was held by Turkmenistan ($X), with a 15% share of total exports. It was followed by Russia, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the UK amounted to +98.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkmenistan (+4.1% per year) and Russia (+22.3% per year).

Export Prices by Country

In 2022, the average shaft coupling export price amounted to $X per ton, almost unchanged from the previous year. Overall, the export price, however, continues to indicate a remarkable increase. The growth pace was the most rapid in 2017 when the average export price increased by 933% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to the Netherlands ($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 (+91.4%), while the prices for the other major destinations experienced more modest paces of growth.

Shaft Coupling Imports

Imports into Azerbaijan

After two years of growth, overseas purchases of clutches and shaft couplings decreased by -34.9% to X tons in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 94% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, shaft coupling imports contracted sharply to $X in 2022. In general, imports, however, recorded modest growth. The pace of growth appeared the most rapid in 2015 when imports increased by 181% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest shaft coupling supplier to Azerbaijan, with a 50% share of total imports. Moreover, shaft coupling imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), threefold. Russia (X tons) ranked third in terms of total imports with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +17.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-10.0% per year) and Russia (-10.8% per year).

In value terms, the largest shaft coupling suppliers to Azerbaijan were the United States ($X), Germany ($X) and China ($X), with a combined 55% share of total imports. Turkey, Italy, Russia, Japan, South Korea, Sweden and Ukraine lagged somewhat behind, together comprising a further 25%.

Japan, with a CAGR of +54.1%, saw the highest rates of growth with regard to 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

In 2022, the average shaft coupling import price amounted to $X per ton, reducing by -13.3% against the previous year. In general, the import price, however, recorded a mild expansion. The most prominent rate of growth was recorded in 2015 when the average import price increased by 62% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 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 the United States ($X per ton), while the price for Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+9.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :