Azerbaijan: Hydraulic Jack Market 2024

Hydraulic Jack Market Size in Azerbaijan

The Azerbaijani hydraulic jack market soared to $X in 2022, with an increase of 108% 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 posted a strong expansion. Hydraulic jack consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Hydraulic Jack Exports

Exports from Azerbaijan

In 2022, after two years of decline, there was significant growth in shipments abroad of hydraulic jacks and hoists for raising vehicles, when their volume increased by 7,500% to X units. In general, exports showed a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, hydraulic jack exports soared to $X in 2022. Overall, exports enjoyed significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Russia (X units) was the main destination for hydraulic jack exports from Azerbaijan, accounting for a 75% share of total exports. Moreover, hydraulic jack exports to Russia exceeded the volume sent to the second major destination, Turkey (X units), eightfold. The UK (X units) ranked third in terms of total exports with a 9.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Russia stood at +135.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+2,000.0% per year) and the UK (+11.6% per year).

In value terms, Russia ($X) emerged as the key foreign market for hydraulic jacks and hoists for raising vehicles exports from Azerbaijan, comprising 84% of total exports. The second position in the ranking was taken by Turkey ($X), with an 11% share of total exports. It was followed by the UK, with a 4.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Russia stood at +215.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+1,869.8% per year) and the UK (+30.0% per year).

Export Prices by Country

The average hydraulic jack export price stood at $X per unit in 2022, surging by 90% against the previous year. Overall, the export price continues to indicate a significant expansion. The most prominent rate of growth was recorded in 2013 an increase of 3,205%. 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 Turkey ($X per unit), while the average price for exports to Uzbekistan ($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 Germany (+52.6%), while the prices for the other major destinations experienced more modest paces of growth.

Hydraulic Jack Imports

Imports into Azerbaijan

Hydraulic jack imports into Azerbaijan soared to X units in 2022, jumping by 109% against the previous year. Overall, imports enjoyed significant growth. Over the period under review, imports attained the maximum at X units in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, hydraulic jack imports surged to $X in 2022. Over the period under review, imports, however, continue to indicate a perceptible decline. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of hydraulic jack to Azerbaijan, with a 75% share of total imports. Moreover, hydraulic jack imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X units), fivefold. The third position in this ranking was held by Russia (X units), with a 7.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +94.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+15.3% per year) and Russia (+6.9% per year).

In value terms, China ($X) constituted the largest supplier of hydraulic jacks and hoists for raising vehicles to Azerbaijan, comprising 62% of total imports. The second position in the ranking was taken by Turkey ($X), with an 11% share of total imports. It was followed by Russia, with a 9.3% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +80.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+10.8% per year) and Russia (-13.4% per year).

Import Prices by Country

The average hydraulic jack import price stood at $X per unit in 2022, with an increase of 5.2% against the previous year. In general, the import price, however, saw a precipitous descent. The most prominent rate of growth was recorded in 2021 when the average import price increased by 44% against the previous year. The import price peaked at $X per unit 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 UK ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (-3.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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