Azerbaijan: Market for Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers 2024

Market Size for Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers in Azerbaijan

After two years of growth, the Azerbaijani market for iron or steel gas domestic cooking appliances and plate warmers decreased by -18.3% to $X in 2022. In general, consumption, however, enjoyed significant growth. Over the period under review, the market hit record highs at $X in 2021, and then dropped remarkably in the following year.

Exports of Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers

Exports from Azerbaijan

In 2022, exports of iron or steel gas domestic cooking appliances and plate warmers from Azerbaijan dropped significantly to X units, with a decrease of -48.1% compared with the previous year's figure. Overall, exports, however, posted resilient growth. The pace of growth was the most pronounced in 2021 with an increase of 286%. As a result, the exports attained the peak of X units, and then shrank significantly in the following year.

In value terms, exports of iron or steel gas domestic cooking appliances and plate warmers dropped notably to $X in 2022. In general, exports, however, showed prominent growth. The pace of growth was the most pronounced in 2021 with an increase of 430%. As a result, the exports attained the peak of $X, and then fell dramatically in the following year.

Exports by Country

Georgia (X units) was the main destination for exports of iron or steel gas domestic cooking appliances and plate warmers from Azerbaijan, accounting for a 82% share of total exports. Moreover, exports of iron or steel gas domestic cooking appliances and plate warmers to Georgia exceeded the volume sent to the second major destination, the UK (X units), sixfold.

From 2012 to 2022, the average annual growth rate of volume to Georgia amounted to +27.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+41.4% per year) and Turkey (-6.7% per year).

In value terms, Georgia ($X) remains the key foreign market for iron or steel gas domestic cooking appliances and plate warmers exports from Azerbaijan, comprising 88% of total exports. The second position in the ranking was held by the UK ($X), with an 11% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Georgia amounted to +44.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+60.3% per year) and Turkey (-15.0% per year).

Export Prices by Country

In 2022, the average export price for iron or steel gas domestic cooking appliances and plate warmers amounted to $X per unit, growing by 8.2% against the previous year. In general, the export price showed a strong expansion. The most prominent rate of growth was recorded in 2021 when the average export price increased by 33%. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the near future.

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 Georgia ($X per unit), while the average price for exports to Turkey ($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 Kazakhstan (+19.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers

Imports into Azerbaijan

In 2022, after two years of growth, there was significant decline in supplies from abroad of iron or steel gas domestic cooking appliances and plate warmers, when their volume decreased by -23.1% to X units. Overall, imports, however, saw a significant increase. The pace of growth was the most pronounced in 2016 with an increase of 201% against the previous year. Imports peaked at X units in 2021, and then reduced remarkably in the following year.

In value terms, imports of iron or steel gas domestic cooking appliances and plate warmers contracted to $X in 2022. Over the period under review, imports, however, enjoyed a prominent increase. The growth pace was the most rapid in 2016 when imports increased by 98%. Imports peaked at $X in 2021, and then fell in the following year.

Imports by Country

Turkey (X units), China (X units) and Iran (X units) were the main suppliers of imports of iron or steel gas domestic cooking appliances and plate warmers to Azerbaijan, together comprising 97% 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 +69.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Turkey ($X) and Iran ($X) appeared to be the largest iron or steel gas domestic cooking appliances and plate warmers suppliers to Azerbaijan, with a combined 83% share of total imports.

China, with a CAGR of +72.5%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for iron or steel gas domestic cooking appliances and plate warmers stood at $X per unit in 2022, growing by 13% against the previous year. Over the period under review, the import price, however, continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2014 when the average import price increased by 23% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Iran ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Georgia (+10.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform