Azerbaijan: Loading Machinery Market 2024

Loading Machinery Market Size in Azerbaijan

The Azerbaijani loading machinery market dropped to $X in 2022, approximately reflecting the previous year. Over the period under review, the total consumption indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -3.0% against 2019 indices. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Loading Machinery Production in Azerbaijan

In value terms, loading machinery production shrank to $X in 2022 estimated in export price. Overall, the total production indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.4% against 2019 indices. The growth pace was the most rapid in 2018 with an increase of 25% against the previous year. Loading machinery production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Loading Machinery Exports

Exports from Azerbaijan

Loading machinery exports from Azerbaijan declined rapidly to X units in 2022, which is down by -61.4% compared with 2021 figures. In general, exports continue to indicate a significant decline. The pace of growth appeared the most rapid in 2017 with an increase of 1,942%. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, loading machinery exports reduced remarkably to $X in 2022. Overall, exports recorded a dramatic decline. The most prominent rate of growth was recorded in 2017 with an increase of 2,555%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Namibia (X units) was the main destination for loading machinery exports from Azerbaijan, with a 81% share of total exports. Moreover, loading machinery exports to Namibia exceeded the volume sent to the second major destination, Kuwait (X units), fourfold.

From 2012 to 2022, the average annual growth rate of volume to Namibia was relatively modest.

In value terms, Kuwait ($X) emerged as the key foreign market for lifting, handling, loading or unloading machinery exports from Azerbaijan, comprising 87% of total exports. The second position in the ranking was taken by Namibia ($X), with a 12% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Kuwait was relatively modest.

Export Prices by Country

In 2022, the average loading machinery export price amounted to $X per unit, reducing by -13.9% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 35% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2021 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kuwait ($X per unit), while the average price for exports to Namibia stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+8.7%), while the prices for the other major destinations experienced more modest paces of growth.

Loading Machinery Imports

Imports into Azerbaijan

In 2022, imports of lifting, handling, loading or unloading machinery into Azerbaijan fell to X units, with a decrease of -6.2% against the previous year's figure. In general, imports showed a abrupt decrease. The most prominent rate of growth was recorded in 2015 with an increase of 754% against the previous year. As a result, imports reached the peak of X units. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, loading machinery imports dropped sharply to $X in 2022. Over the period under review, imports continue to indicate a abrupt downturn. The pace of growth appeared the most rapid in 2015 with an increase of 405% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Turkey (X units), Hungary (X units) and Uzbekistan (X units) were the main suppliers of loading machinery imports to Azerbaijan, together comprising 71% of total imports.

From 2012 to 2022, the biggest increases were recorded for Hungary (with a CAGR of +9.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Hungary ($X) and Uzbekistan ($X) appeared to be the largest loading machinery suppliers to Azerbaijan, with a combined 69% share of total imports.

Hungary, with a CAGR of +11.8%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average loading machinery import price amounted to $X per unit, reducing by -14.4% against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average import price increased by 73% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Norway ($X per unit), while the price for China ($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 (+23.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :