Azerbaijan: Market for Gearboxes and Speed Changers 2024

Market Size for Gearboxes and Speed Changers in Azerbaijan

The Azerbaijani gearboxes and speed changers market amounted to $X in 2022, growing by X% against the previous year. Over the period under review, consumption, however, showed a strong expansion. Gearboxes and speed changers consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Gearboxes and Speed Changers in Azerbaijan

In value terms, gearboxes and speed changers production expanded to $X in 2022 estimated in export price. In general, production, however, enjoyed prominent growth. The pace of growth was the most pronounced in 2018 when the production volume increased by X% against the previous year. Gearboxes and speed changers production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Gearboxes and Speed Changers

Exports from Azerbaijan

Gearboxes and speed changers exports from Azerbaijan shrank dramatically to X tons in 2022, with a decrease of X% on 2021 figures. Overall, exports saw a deep setback. The pace of growth appeared the most rapid in 2019 when exports increased by X%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, gearboxes and speed changers exports contracted dramatically to $X in 2022. Over the period under review, exports showed a abrupt setback. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Iran (X tons), Kazakhstan (X tons) and Russia (X tons) were the main destinations of gearboxes and speed changers exports from Azerbaijan, together comprising X% of total exports.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of X%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Iran ($X) emerged as the key foreign market for gearboxes and speed changers exports from Azerbaijan, comprising X% of total exports. The second position in the ranking was taken by Russia ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Iran amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (X% per year) and Kazakhstan (X% per year).

Export Prices by Country

The average gearboxes and speed changers export price stood at $X per ton in 2022, dropping by X% against the previous year. In general, the export price, however, showed noticeable growth. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Iran ($X per ton), while the average price for exports to Kazakhstan ($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 Iran (X%), while the prices for the other major destinations experienced a decline.

Imports of Gearboxes and Speed Changers

Imports into Azerbaijan

In 2022, supplies from abroad of gearboxes and speed changers decreased by X% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports saw a mild setback. The most prominent rate of growth was recorded in 2016 when imports increased by X%. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, gearboxes and speed changers imports shrank to $X in 2022. Overall, imports showed a deep contraction. The growth pace was the most rapid in 2016 with an increase of X%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Turkey (X tons) and Russia (X tons) were the main suppliers of gearboxes and speed changers imports to Azerbaijan, together accounting for X% of total imports. Germany, the United States, Italy, India and Ukraine lagged somewhat behind, together comprising a further X%.

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

In value terms, Germany ($X), Turkey ($X) and the United States ($X) appeared to be the largest gearboxes and speed changers suppliers to Azerbaijan, with a combined X% share of total imports. China, Russia, Italy, India and Ukraine lagged somewhat behind, together comprising a further X%.

China, with a CAGR of X%, 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

The average gearboxes and speed changers import price stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, the import price, however, saw a abrupt contraction. The growth pace was the most rapid in 2021 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat 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 the United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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