Azerbaijan: Gear Box Market 2025

Gear Box Market Size in Azerbaijan

In 2022, the Azerbaijani gear box market increased by 8.8% to $X, rising for the seventh consecutive year after two years of decline. Overall, consumption posted a significant expansion. Gear box consumption peaked in 2022 and is likely to see steady growth in years to come.

Gear Box Exports

Exports from Azerbaijan

In 2022, shipments abroad of gear boxes was finally on the rise to reach X units for the first time since 2018, thus ending a three-year declining trend. Overall, exports recorded strong growth. The exports peaked at X units in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, gear box exports skyrocketed to $X in 2022. In general, exports saw a significant expansion. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Uzbekistan (X units), Georgia (X units) and Kazakhstan (X units) were the main destinations of gear box exports from Azerbaijan, with a combined 93% share of total exports.

From 2014 to 2022, the biggest increases were recorded for Georgia (with a CAGR of +108.3%), while shipments for the other leaders experienced more modest paces of growth.

It was followed by Georgia, with a 3.6% share.

From 2014 to 2022, the average annual rate of growth in terms of value to Uzbekistan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Kazakhstan (0.0% per year) and Georgia (+145.8% per year).

Export Prices by Country

The average gear box export price stood at $X per unit in 2022, picking up by 16% against the previous year. Overall, the export price saw a significant expansion. The growth pace was the most rapid in 2021 an increase of 3,374%. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Uzbekistan ($X per unit), while the average price for exports to Georgia ($X per unit) was amongst the lowest.

From 2014 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+85.8%), while the prices for the other major destinations experienced more modest paces of growth.

Gear Box Imports

Imports into Azerbaijan

In 2022, the amount of gear boxes imported into Azerbaijan reached X units, growing by 5% compared with 2021 figures. Overall, imports showed a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 1,360%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, gear box imports skyrocketed to $X in 2022. Over the period under review, imports posted a significant increase. The most prominent rate of growth was recorded in 2016 with an increase of 495% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Germany (X units) constituted the largest gear box supplier to Azerbaijan, with a 48% share of total imports. Moreover, gear box imports from Germany exceeded the figures recorded by the second-largest supplier, Russia (X units), fourfold. Japan (X units) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from Germany stood at +85.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+26.2% per year) and Japan (+142.6% per year).

In value terms, Germany ($X), China ($X) and Turkey ($X) appeared to be the largest gear box suppliers to Azerbaijan, together comprising 61% of total imports. Japan, the United States, Russia and South Korea lagged somewhat behind, together accounting for a further 29%.

Japan, with a CAGR of +124.8%, 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 gear box import price stood at $X per unit in 2022, with an increase of 13% against the previous year. In general, the import price, however, continues to indicate a pronounced setback. The growth pace was the most rapid in 2014 an increase of 130% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+18.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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