Azerbaijan: Lithium-Ion Accumulator Market 2024

Lithium-Ion Accumulator Market Size in Azerbaijan

The Azerbaijani lithium-ion accumulator market skyrocketed to $X in 2021, surging by 61% against the previous year. Overall, consumption continues to indicate significant growth. Lithium-ion accumulator consumption peaked in 2021 and is expected to retain growth in the immediate term.

Lithium-Ion Accumulator Production in Azerbaijan

In value terms, lithium-ion accumulator production dropped to $X in 2021 estimated in export price. Overall, the total production indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +15.5% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of 43% against the previous year. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Lithium-Ion Accumulator Exports

Exports from Azerbaijan

In 2021, the amount of lithium-ion accumulators exported from Azerbaijan fell notably to X units, dropping by -88.9% against the previous year. Overall, exports showed a mild downturn. The pace of growth appeared the most rapid in 2016 with an increase of 6,360% against the previous year. The exports peaked at X units in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, lithium-ion accumulator exports reduced sharply to $X in 2021. Over the period under review, exports, however, continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2016 when exports increased by 7,887%. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Spain (X units) was the main destination for lithium-ion accumulator exports from Azerbaijan, accounting for a 48% share of total exports. Moreover, lithium-ion accumulator exports to Spain exceeded the volume sent to the second major destination, Singapore (X units), threefold. Georgia (X units) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to Spain was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+9.1% per year) and Georgia (-21.3% per year).

In value terms, the UK ($X) emerged as the key foreign market for lithium-ion accumulators exports from Azerbaijan, comprising 23% of total exports. The second position in the ranking was held by Singapore ($X), with an 11% share of total exports. It was followed by Spain, with a 4.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the UK totaled +56.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+84.4% per year) and Spain (0.0% per year).

Export Prices by Country

The average lithium-ion accumulator export price stood at $X per unit in 2021, jumping by 21% against the previous year. In general, the export price continues to indicate a prominent expansion. The pace of growth was the most pronounced in 2014 an increase of 87%. The export price peaked at $X per unit in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was the UK ($X per unit), while the average price for exports to the Czech Republic ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+23.5%), while the prices for the other major destinations experienced more modest paces of growth.

Lithium-Ion Accumulator Imports

Imports into Azerbaijan

For the fourth consecutive year, Azerbaijan recorded growth in purchases abroad of lithium-ion accumulators, which increased by 40% to X units in 2021. Over the period under review, imports continue to indicate significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 162% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, lithium-ion accumulator imports skyrocketed to $X in 2021. Overall, imports enjoyed a significant expansion. The growth pace was the most rapid in 2015 when imports increased by 175%. Imports peaked in 2021 and are likely to see gradual growth in the near future.

Imports by Country

China (X units), Sweden (X units) and Vietnam (X units) were the main suppliers of lithium-ion accumulator imports to Azerbaijan, with a combined 45% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +93.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of lithium-ion accumulators to Azerbaijan, comprising 40% of total imports. The second position in the ranking was taken by Sweden ($X), with a 13% share of total imports. It was followed by Germany, with a 2.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +50.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+38.7% per year) and Germany (+35.4% per year).

Import Prices by Country

In 2021, the average lithium-ion accumulator import price amounted to $X per unit, picking up by 14% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average import price increased by 97% against the previous year. The import price peaked at $X per unit in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iran (+37.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform