Azerbaijan: Mounting Lifting Equipment Market 2024

Mounting Lifting Equipment Market Size in Azerbaijan

The Azerbaijani mounting lifting equipment market surged to $X in 2021, increasing by 27% against the previous year. In general, consumption saw a strong increase. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Mounting Lifting Equipment Production in Azerbaijan

In value terms, mounting lifting equipment production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production posted a strong expansion. The pace of growth appeared the most rapid in 2019 when the production volume increased by 64%. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a lower figure.

Mounting Lifting Equipment Exports

Exports from Azerbaijan

In 2021, overseas shipments of lifting equipment designed for mounting on road vehicles decreased by 0% to X units for the first time since 2018, thus ending a two-year declining trend. In general, exports recorded a abrupt decrease. The most prominent rate of growth was recorded in 2013 with an increase of 67%. As a result, the exports attained the peak of X units. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, mounting lifting equipment exports contracted dramatically to $X in 2021. Over the period under review, exports continue to indicate a abrupt descent. The pace of growth appeared the most rapid in 2013 with an increase of 64% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Georgia (X units) was the main destination for mounting lifting equipment exports from Azerbaijan, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Georgia stood at -11.5%.

In value terms, Georgia ($X) also remains the key foreign market for lifting equipment designed for mounting on road vehicles exports from Azerbaijan.

From 2012 to 2021, the average annual rate of growth in terms of value to Georgia stood at -12.0%.

Export Prices by Country

The average mounting lifting equipment export price stood at $X per unit in 2021, reducing by -30.7% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of 67% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2020 to 2021, the average export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Georgia.

From 2012 to 2021, the rate of growth in terms of prices for Georgia amounted to -0.6% per year.

Mounting Lifting Equipment Imports

Imports into Azerbaijan

In 2021, the amount of lifting equipment designed for mounting on road vehicles imported into Azerbaijan soared to X units, increasing by 56% against the year before. In general, imports showed strong growth. The most prominent rate of growth was recorded in 2013 with an increase of 318% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

In value terms, mounting lifting equipment imports skyrocketed to $X in 2021. Over the period under review, imports showed a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 5,424%. Imports peaked in 2021 and are likely to continue growth in the immediate term.

Imports by Country

Russia (X units), Sweden (X units) and Australia (X units) were the main suppliers of mounting lifting equipment imports to Azerbaijan, with a combined 26% share of total imports. These countries were followed by Austria, Japan, Italy, the Netherlands, Thailand, Turkey, Lithuania, Bulgaria and South Korea, which together accounted for a further 40%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Lithuania (with a CAGR of +41.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Austria ($X) constituted the largest supplier of lifting equipment designed for mounting on road vehicles to Azerbaijan, comprising 27% of total imports. The second position in the ranking was held by Russia ($X), with an 8.9% share of total imports. It was followed by Italy, with a 3.8% share.

From 2012 to 2021, the average annual growth rate of value from Austria stood at +48.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+41.4% per year) and Italy (+23.4% per year).

Import Prices by Country

The average mounting lifting equipment import price stood at $X per unit in 2021, picking up by 51% against the previous year. Overall, the import price continues to indicate strong growth. The most prominent rate of growth was recorded in 2013 when the average import price increased by 74% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Austria ($X per unit), while the price for Thailand ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Lithuania (+20.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :