Azerbaijan: Engine Generator Market 2024

Engine Generator Market Size in Azerbaijan

The Azerbaijani engine generator market surged to $X in 2022, growing by 20% 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 enjoyed a significant increase. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Engine Generator Exports

Exports from Azerbaijan

In 2022, the amount of generators for internal combustion engines exported from Azerbaijan soared to X units, rising by 638% against the previous year's figure. Over the period under review, exports showed significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 1,483%. 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, engine generator exports skyrocketed to $X in 2022. In general, exports saw significant growth. The pace of growth appeared the most rapid in 2017 with an increase of 773%. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Ukraine (X units) was the main destination for engine generator exports from Azerbaijan, accounting for a 78% share of total exports. Moreover, engine generator exports to Ukraine exceeded the volume sent to the second major destination, Luxembourg (X units), sixfold. The third position in this ranking was taken by Uzbekistan (X units), with a 3.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Ukraine amounted to +124.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Luxembourg (+51.7% per year) and Uzbekistan (0.0% per year).

In value terms, Ukraine ($X) emerged as the key foreign market for generators for internal combustion engines exports from Azerbaijan, comprising 73% of total exports. The second position in the ranking was taken by Luxembourg ($X), with an 11% share of total exports. It was followed by Belgium, with an 8.7% share.

From 2012 to 2022, the average annual growth rate of value to Ukraine amounted to +174.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Luxembourg (+65.6% per year) and Belgium (+24.3% per year).

Export Prices by Country

In 2022, the average engine generator export price amounted to $X per unit, reducing by -69.4% against the previous year. Over the period under review, the export price, however, showed a buoyant increase. The pace of growth appeared the most rapid in 2021 an increase of 470%. As a result, the export price attained the peak level of $X per unit, and then fell notably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per unit), while the average price for exports to the UK ($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 France (+23.2%), while the prices for the other major destinations experienced more modest paces of growth.

Engine Generator Imports

Imports into Azerbaijan

In 2022, the amount of generators for internal combustion engines imported into Azerbaijan skyrocketed to X units, growing by 18% on 2021 figures. In general, imports showed a significant expansion. The growth pace was the most rapid in 2016 when imports increased by 227% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in the immediate term.

In value terms, engine generator imports soared to $X in 2022. Overall, imports posted a resilient increase. The most prominent rate of growth was recorded in 2018 with an increase of 232% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X units) constituted the largest supplier of engine generator to Azerbaijan, accounting for a 55% share of total imports. Moreover, engine generator imports from China exceeded the figures recorded by the second-largest supplier, Russia (X units), threefold. The third position in this ranking was held by the United States (X units), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +59.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+41.2% per year) and the United States (+48.8% per year).

In value terms, the United States ($X) constituted the largest supplier of generators for internal combustion engines to Azerbaijan, comprising 59% of total imports. The second position in the ranking was held by China ($X), with a 9.9% share of total imports. It was followed by Russia, with a 7.9% share.

From 2012 to 2022, the average annual growth rate of value from the United States amounted to +28.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+42.1% per year) and Russia (+28.5% per year).

Import Prices by Country

In 2022, the average engine generator import price amounted to $X per unit, with an increase of 109% against the previous year. In general, the import price, however, showed a deep reduction. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+12.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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