Azerbaijan: Market for Lifts, Elevators, Moving Stairways and Draglines 2024

Market Size for Lifts, Elevators, Moving Stairways and Draglines in Azerbaijan

In 2022, the Azerbaijani market for lifts, elevators, moving stairways and draglines decreased by -40.5% to $X, falling for the third year in a row after two years of growth. In general, consumption, however, recorded a measured increase. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Exports of Lifts, Elevators, Moving Stairways and Draglines

Exports from Azerbaijan

In 2022, overseas shipments of lifts, elevators, moving stairways and draglines decreased by 0% to X units, falling for the second year in a row after two years of decline. Overall, exports enjoyed resilient growth. The most prominent rate of growth was recorded in 2016 when exports increased by 500%. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, lift, elevator, stairway and dragline exports stood at $X in 2022. Over the period under review, exports posted a significant increase. The most prominent rate of growth was recorded in 2016 when exports increased by 2,119%. The exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Georgia (X units), the UK (X units) and the Netherlands (X units) were the main destinations of lift, elevator, stairway and dragline exports from Azerbaijan, with a combined 86% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +41.4%), while shipments for the other leaders experienced more modest paces of growth.

It was followed by Russia, with a 4.5% share.

From 2012 to 2022, the average annual growth rate of value to Georgia totaled +24.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+141.1% per year) and Russia (0.0% per year).

Export Prices by Country

The average export price for lifts, elevators, moving stairways and draglines stood at $X per unit in 2022, remaining relatively unchanged against the previous year. Overall, the export price recorded a prominent increase. The most prominent rate of growth was recorded in 2017 an increase of 1,396%. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

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 ($X per unit), while the average price for exports to the Netherlands ($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 the UK (+70.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Lifts, Elevators, Moving Stairways and Draglines

Imports into Azerbaijan

In 2022, supplies from abroad of lifts, elevators, moving stairways and draglines decreased by -33.2% to X units, falling for the third consecutive year after two years of growth. Over the period under review, imports, however, saw a buoyant increase. The pace of growth appeared the most rapid in 2013 with an increase of 388% against the previous year. As a result, imports attained the peak of X units. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, lift, elevator, stairway and dragline imports fell remarkably to $X in 2022. In general, imports, however, showed a modest expansion. The pace of growth appeared the most rapid in 2013 when imports increased by 281% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of lift, elevator, stairway and dragline to Azerbaijan, accounting for a 70% share of total imports. Moreover, lift, elevator, stairway and dragline imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X units), fourfold. The third position in this ranking was held by Thailand (X units), with a 2.7% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +23.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+9.3% per year) and Thailand (+7.8% per year).

In value terms, China ($X) constituted the largest supplier of lifts, elevators, moving stairways and draglines to Azerbaijan, comprising 63% of total imports. The second position in the ranking was held by Turkey ($X), with a 16% share of total imports. It was followed by Slovakia, with a 6.4% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +20.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+8.2% per year) and Slovakia (+8.9% per year).

Import Prices by Country

The average import price for lifts, elevators, moving stairways and draglines stood at $X per unit in 2022, declining by -17.5% against the previous year. In general, the import price recorded a noticeable contraction. The pace of growth was the most pronounced in 2021 an increase of 58% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a 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 Slovakia ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovakia (+2.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :