Azerbaijan: Market for Grinding And Sharpening Metal Finishing Machines 2024

Market Size for Grinding And Sharpening Metal Finishing Machines in Azerbaijan

The Azerbaijani grinding and sharpening machine market fell to $X in 2022, shrinking by -14.2% 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 continues to indicate a deep slump. Grinding and sharpening machine consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Exports of Grinding And Sharpening Metal Finishing Machines

Exports from Azerbaijan

In 2022, the amount of grinding and sharpening metal finishing machines exported from Azerbaijan contracted dramatically to X units, falling by -33.3% compared with 2021 figures. Over the period under review, exports, however, saw strong growth. The growth pace was the most rapid in 2021 when exports increased by 200% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, grinding and sharpening machine exports soared to $X in 2022. Overall, exports, however, saw a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Tajikistan (X units) and Turkey (X units) were the main destinations of grinding and sharpening machine exports from Azerbaijan.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Turkey (with a CAGR of 0.0%).

In value terms, Tajikistan ($X) remains the key foreign market for grinding and sharpening metal finishing machines exports from Azerbaijan, comprising 99.9% of total exports. The second position in the ranking was held by Turkey ($X), with less than 0.1% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Tajikistan totaled +2,455.4%.

Export Prices by Country

The average grinding and sharpening machine export price stood at $X per unit in 2022, growing by 3,661% against the previous year. In general, the export price saw significant growth. As a result, the export price attained the peak level and is likely to continue 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 Tajikistan ($X per unit), while the average price for exports to Turkey stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Tajikistan (+5,010.7%), while the prices for the other major destinations experienced a decline.

Imports of Grinding And Sharpening Metal Finishing Machines

Imports into Azerbaijan

In 2022, approx. X units of grinding and sharpening metal finishing machines were imported into Azerbaijan; declining by -9% against the previous year. In general, imports showed a deep contraction. The most prominent rate of growth was recorded in 2015 with an increase of 157%. Over the period under review, imports reached the peak figure at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, grinding and sharpening machine imports dropped remarkably to $X in 2022. Over the period under review, imports saw a abrupt decrease. The pace of growth appeared the most rapid in 2015 with an increase of 258% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest grinding and sharpening machine supplier to Azerbaijan, accounting for a 55% share of total imports. Moreover, grinding and sharpening machine imports from China exceeded the figures recorded by the second-largest supplier, Poland (X units), threefold. Turkey (X units) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +44.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+38.5% per year) and Turkey (-2.3% per year).

In value terms, China ($X) constituted the largest supplier of grinding and sharpening metal finishing machines to Azerbaijan, comprising 59% of total imports. The second position in the ranking was taken by Turkey ($X), with a 13% share of total imports. It was followed by Germany, with a 6% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +23.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-3.6% per year) and Germany (-2.0% per year).

Import Prices by Country

In 2022, the average grinding and sharpening machine import price amounted to $X per unit, with a decrease of -35.3% against the previous year. Overall, the import price showed a deep slump. The most prominent rate of growth was recorded in 2018 when the average import price increased by 434% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a 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 Germany ($X per unit), while the price for Ukraine ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iran (+14.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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