Azerbaijan: Market for Hydraulic Cylinders And Systems 2024

Market Size for Hydraulic Cylinders And Systems in Azerbaijan

In 2022, after two years of growth, there was significant decline in the Azerbaijani hydraulic cylinder and system market, when its value decreased by -7.2% to $X. In general, consumption saw a buoyant increase. Hydraulic cylinder and system consumption peaked at $X in 2021, and then shrank in the following year.

Exports of Hydraulic Cylinders And Systems

Exports from Azerbaijan

In 2022, the amount of hydraulic cylinders and systems exported from Azerbaijan reached X units, picking up by 1.5% compared with the year before. Overall, exports showed a significant increase. The pace of growth was the most pronounced in 2016 when exports increased by 2,729% against the previous year. Over the period under review, the exports attained the maximum at X units in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, hydraulic cylinder and system exports skyrocketed to $X in 2022. Over the period under review, exports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of 6,746% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Norway (X units) was the main destination for hydraulic cylinder and system exports from Azerbaijan, accounting for a 67% share of total exports. Moreover, hydraulic cylinder and system exports to Norway exceeded the volume sent to the second major destination, the United Arab Emirates (X units), fivefold. The third position in this ranking was held by the UK (X units), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Norway stood at +750.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (0.0% per year) and the UK (+20.8% per year).

In value terms, Norway ($X) emerged as the key foreign market for hydraulic cylinders and systems exports from Azerbaijan, comprising 59% of total exports. The second position in the ranking was taken by the UK ($X), with an 18% share of total exports. It was followed by the United States, with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Norway amounted to +319.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+1.0% per year) and the United States (+29.9% per year).

Export Prices by Country

The average hydraulic cylinder and system export price stood at $X per unit in 2022, jumping by 629% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 724% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2014 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to the United Arab Emirates (less than $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 Luxembourg (+43.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hydraulic Cylinders And Systems

Imports into Azerbaijan

In 2022, the amount of hydraulic cylinders and systems imported into Azerbaijan expanded slightly to X units, picking up by 2% on 2021 figures. In general, imports showed a prominent expansion. The pace of growth was the most pronounced in 2018 with an increase of 195%. As a result, imports attained the peak of X units. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, hydraulic cylinder and system imports contracted significantly to $X in 2022. Over the period under review, imports enjoyed buoyant growth. The growth pace was the most rapid in 2018 with an increase of 188%. Imports peaked at $X in 2021, and then plummeted in the following year.

Imports by Country

China (X units), Turkey (X units) and Russia (X units) were the main suppliers of hydraulic cylinder and system imports to Azerbaijan, with a combined 68% share of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +50.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Norway ($X) and China ($X) appeared to be the largest hydraulic cylinder and system suppliers to Azerbaijan, with a combined 60% share of total imports.

In terms of the main suppliers, China, with a CAGR of +42.2%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average hydraulic cylinder and system import price amounted to $X per unit, waning by -32.6% against the previous year. Over the period under review, the import price saw a noticeable setback. The most prominent rate of growth was recorded in 2019 when the average import price increased by 93%. As a result, import price attained the peak level of $X per unit. From 2020 to 2022, the average 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 Ukraine (less than $X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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