Azerbaijan: Non-Electric Motor Handtools Market 2024

Non-Electric Motor Handtools Market Size in Azerbaijan

The Azerbaijani non-electric motor handtools market surged to $X in 2022, growing by 21% 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). Over the period under review, consumption recorded a strong increase. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Non-Electric Motor Handtools Exports

Exports from Azerbaijan

Non-electric motor handtools exports from Azerbaijan surged to X units in 2022, increasing by 3,475% against 2021 figures. In general, exports recorded a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, non-electric motor handtools exports skyrocketed to $X in 2022. Over the period under review, exports posted significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The UK (X units) was the main destination for non-electric motor handtools exports from Azerbaijan, accounting for a 57% share of total exports. Moreover, non-electric motor handtools exports to the UK exceeded the volume sent to the second major destination, Bulgaria (X units), threefold. Turkey (X units) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to the UK totaled +58.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (+41.4% per year) and Turkey (+23.9% per year).

In value terms, the UK ($X), Turkey ($X) and Romania ($X) were the largest markets for non-electric motor handtools exported from Azerbaijan worldwide, together accounting for 92% of total exports.

Turkey, with a CAGR of +77.6%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average non-electric motor handtools export price amounted to $X per unit, increasing by 150% against the previous year. Overall, the export price, however, saw a abrupt contraction. The pace of growth appeared the most rapid in 2014 an increase of 1,104% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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 Romania ($X per unit), while the average price for exports to Bulgaria ($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 Romania (+50.2%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Electric Motor Handtools Imports

Imports into Azerbaijan

In 2022, approx. X units of handtools, hydraulic or with a self-contained non-electric motor were imported into Azerbaijan; picking up by 33% compared with the previous year's figure. Overall, imports saw a notable expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 157% against the previous year. Over the period under review, imports reached the maximum at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, non-electric motor handtools imports reduced to $X in 2022. Over the period under review, imports recorded a prominent increase. The most prominent rate of growth was recorded in 2015 with an increase of 259% against the previous year. Over the period under review, imports attained the maximum at $X in 2021, and then contracted in the following year.

Imports by Country

China (X units), Turkey (X units) and the UK (X units) were the main suppliers of non-electric motor handtools imports to Azerbaijan, together comprising 89% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +32.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of handtools, hydraulic or with a self-contained non-electric motor to Azerbaijan, comprising 50% of total imports. The second position in the ranking was taken by the United States ($X), with a 14% share of total imports. It was followed by the UK, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +43.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+23.6% per year) and the UK (+0.3% per year).

Import Prices by Country

The average non-electric motor handtools import price stood at $X per unit in 2022, reducing by -29.1% against the previous year. Over the period under review, the import price, however, recorded a tangible expansion. The most prominent rate of growth was recorded in 2015 an increase of 251% against the previous year. As a result, import price attained the peak level of $X per unit. From 2016 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Turkey ($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 (+8.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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