Azerbaijan: Crane Market 2024

Crane Market Size in Azerbaijan

The Azerbaijani crane market shrank sharply to $X in 2022, waning by -33.8% against the previous year. Over the period under review, consumption faced a deep contraction. Crane consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Crane Production in Azerbaijan

In value terms, crane production dropped to $X in 2022 estimated in export price. Over the period under review, production showed a noticeable slump. The growth pace was the most rapid in 2013 when the production volume increased by 34%. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Crane Exports

Exports from Azerbaijan

In 2022, approx. X units of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane were exported from Azerbaijan; with an increase of 95% compared with the year before. In general, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 1,365%. As a result, the exports attained the peak of X units. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, crane exports skyrocketed to $X in 2022. Over the period under review, exports enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 3,046% against the previous year. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Iraq (X units), Kazakhstan (X units) and the United Arab Emirates (X units) were the main destinations of crane exports from Azerbaijan, together accounting for 99% 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 Iraq (with a CAGR of +21.8%), while the other leaders experienced more modest paces of growth.

In value terms, Kazakhstan ($X), Turkey ($X) and the United Arab Emirates ($X) were the largest markets for crane exported from Azerbaijan worldwide, together comprising 93% of total exports.

In terms of the main countries of destination, Turkey, with a CAGR of +20.9%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average crane export price stood at $X per unit in 2022, picking up by 122% against the previous year. In general, the export price recorded a resilient expansion. The pace of growth appeared the most rapid in 2015 an increase of 259% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2016 to 2022, the average export prices failed to regain momentum.

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 Turkey ($X per unit), while the average price for exports to Iraq ($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 (+15.9%), while the prices for the other major destinations experienced mixed trend patterns.

Crane Imports

Imports into Azerbaijan

In 2022, crane imports into Azerbaijan fell slightly to X units, shrinking by -4.3% against the previous year's figure. Over the period under review, imports faced a abrupt downturn. The growth pace was the most rapid in 2018 when imports increased by 148%. Imports peaked at X units in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, crane imports declined notably to $X in 2022. Overall, imports saw a abrupt descent. The most prominent rate of growth was recorded in 2018 when imports increased by 179% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Turkey (X units), the UK (X units) and China (X units) were the main suppliers of crane imports to Azerbaijan, with a combined 71% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of +44.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X) constituted the largest supplier of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane to Azerbaijan, comprising 45% of total imports. The second position in the ranking was taken by Turkey ($X), with a 23% share of total imports. It was followed by Italy, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the UK totaled +37.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-11.4% per year) and Italy (-4.5% per year).

Import Prices by Country

The average crane import price stood at $X per unit in 2022, dropping by -32.4% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 41%. The import price peaked at $X per unit in 2015; however, from 2016 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 UK ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+2.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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