Azerbaijan: Electric Radiator Market 2025

Electric Radiator Market Size in Azerbaijan

The Azerbaijani electric radiator market skyrocketed to $X in 2021, jumping by 62% 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 showed strong growth. Electric radiator consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Electric Radiator Exports

Exports from Azerbaijan

For the third consecutive year, Azerbaijan recorded growth in overseas shipments of electric radiators and convection heaters, which increased by 727% to X units in 2021. Overall, exports continue to indicate a significant increase. The pace of growth was the most pronounced in 2017 when exports increased by 2,100% against the previous year. The exports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, electric radiator exports skyrocketed to $X in 2021. In general, exports posted a significant expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 2,060% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the near future.

Exports by Country

Georgia (X units) was the main destination for electric radiator exports from Azerbaijan, accounting for a 57% share of total exports. Moreover, electric radiator exports to Georgia exceeded the volume sent to the second major destination, Turkey (X units), threefold. The third position in this ranking was held by Russia (X units), with a 16% share.

From 2014 to 2021, the average annual rate of growth in terms of volume to Georgia amounted to +244.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+123.6% per year) and Russia (+82.1% per year).

In value terms, Georgia ($X) emerged as the key foreign market for electric radiators and convection heaters exports from Azerbaijan, comprising 82% of total exports. The second position in the ranking was taken by Turkey ($X), with an 8.5% share of total exports. It was followed by Russia, with a 5.7% share.

From 2014 to 2021, the average annual rate of growth in terms of value to Georgia totaled +497.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+60.5% per year) and Russia (+43.1% per year).

Export Prices by Country

The average electric radiator export price stood at $X per unit in 2021, jumping by 162% against the previous year. In general, the export price showed a strong increase. The pace of growth appeared the most rapid in 2018 an increase of 453%. As a result, the export price attained the peak level of $X per unit. From 2019 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Georgia ($X per unit), while the average price for exports to Russia ($X per unit) was amongst the lowest.

From 2014 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Norway (+62.7%), while the prices for the other major destinations experienced more modest paces of growth.

Electric Radiator Imports

Imports into Azerbaijan

In 2021, overseas purchases of electric radiators and convection heaters were finally on the rise to reach X units after two years of decline. Overall, imports recorded a prominent increase. The growth pace was the most rapid in 2015 when imports increased by 114%. Imports peaked at X units in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, electric radiator imports surged to $X in 2021. In general, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 when imports increased by 151%. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

China (X units) and Turkey (X units) were the main suppliers of electric radiator imports to Azerbaijan.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +59.7%).

In value terms, the largest electric radiator suppliers to Azerbaijan were China ($X) and Turkey ($X).

In terms of the main suppliers, China, with a CAGR of +48.9%, saw the highest growth rate of the value of imports, over the period under review.

Import Prices by Country

The average electric radiator import price stood at $X per unit in 2021, with a decrease of -14.6% against the previous year. Overall, the import price showed a deep slump. The most prominent rate of growth was recorded in 2020 an increase of 39% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Turkey ($X per unit), while the price for China totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-6.7%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :