Azerbaijan: Power Tool Market 2024

Power Tool Market Size in Azerbaijan

The Azerbaijani power tool market rose significantly to $X in 2021, increasing by 9.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded significant growth. Over the period under review, the market reached the peak level in 2021 and is expected to retain growth in years to come.

Power Tool Exports

Exports from Azerbaijan

In 2021, power tool exports from Azerbaijan contracted dramatically to X units, waning by -43.5% compared with the previous year's figure. Overall, exports, however, enjoyed a strong increase. The most prominent rate of growth was recorded in 2019 with an increase of 808%. As a result, the exports attained the peak of X units. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, power tool exports surged to $X in 2021. Over the period under review, exports, however, continue to indicate a strong increase. The pace of growth was the most pronounced in 2014 when exports increased by 210%. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X units), the Netherlands (X units) and Georgia (X units) were the main destinations of power tool exports from Azerbaijan.

From 2012 to 2021, the biggest increases were recorded for Uzbekistan (with a CAGR of +150.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for power tools exports from Azerbaijan, comprising 22% of total exports. The second position in the ranking was taken by Russia ($X), with a 7.9% share of total exports. It was followed by Georgia, with a 6.3% share.

From 2012 to 2021, the average annual growth rate of value to Germany amounted to +37.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+91.6% per year) and Georgia (-30.5% per year).

Export Prices by Country

The average power tool export price stood at $X per unit in 2021, with an increase of 134% against the previous year. In general, the export price saw strong growth. The pace of growth appeared the most rapid in 2014 an increase of 193% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Norway ($X per unit), while the average price for exports to the Netherlands ($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 Uzbekistan (+1,280.0%), while the prices for the other major destinations experienced more modest paces of growth.

Power Tool Imports

Imports into Azerbaijan

In 2021, imports of power tools into Azerbaijan rose notably to X units, growing by 7.8% on the previous year. Overall, imports continue to indicate significant growth. The pace of growth appeared the most rapid in 2016 with an increase of 1,206%. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

In value terms, power tool imports surged to $X in 2021. Over the period under review, imports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2016 when imports increased by 146%. Over the period under review, imports attained the peak figure in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest power tool supplier to Azerbaijan, with a 89% share of total imports. Moreover, power tool imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X units), more than tenfold. Georgia (X units) ranked third in terms of total imports with a 2.8% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +63.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+26.4% per year) and Georgia (+8.7% per year).

In value terms, China ($X) constituted the largest supplier of power tools to Azerbaijan, comprising 58% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with an 11% share of total imports. It was followed by Georgia, with a 9.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +64.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+31.6% per year) and Georgia (+10.4% per year).

Import Prices by Country

The average power tool import price stood at $X per unit in 2021, picking up by 15% against the previous year. Over the period under review, the import price, however, showed a deep downturn. The growth pace was the most rapid in 2018 when the average import price increased by 44%. Over the period under review, average import prices hit record highs at $X per unit in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Georgia ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+8.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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