Azerbaijan: Market for Self-Propelled Fork-Lift Trucks with Non-Electric Motor 2024

Market Size for Self-Propelled Fork-Lift Trucks with Non-Electric Motor in Azerbaijan

In 2022, the Azerbaijani self-propelled non-electric fork-lift truck market increased by 38% to $X, rising for the second consecutive year after two years of decline. In general, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Exports of Self-Propelled Fork-Lift Trucks with Non-Electric Motor

Exports from Azerbaijan

Self-propelled non-electric fork-lift truck exports from Azerbaijan surged to X units in 2022, increasing by 71% on the year before. In general, exports continue to indicate a resilient increase. The pace of growth appeared the most rapid in 2013 with an increase of 100%. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, self-propelled non-electric fork-lift truck exports contracted rapidly to $X in 2022. Over the period under review, exports posted a prominent increase. The most prominent rate of growth was recorded in 2021 when exports increased by 318%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Iran (X units), Iraq (X units) and Ukraine (X units) were the main destinations of self-propelled non-electric fork-lift truck exports from Azerbaijan, with a combined 92% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Iran (with a CAGR of +17.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Qatar ($X) emerged as the key foreign market for self-propelled fork-lift trucks with non-electric motor exports from Azerbaijan, comprising 54% of total exports. The second position in the ranking was held by Iran ($X), with a 23% share of total exports. It was followed by Iraq, with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Qatar was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (+51.0% per year) and Iraq (0.0% per year).

Export Prices by Country

In 2022, the average self-propelled non-electric fork-lift truck export price amounted to $X per unit, waning by -58% against the previous year. Over the period under review, the export price showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 when the average export price increased by 139% against the previous year. The export price peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Qatar ($X per unit), while the average price for exports to Iraq ($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 Iran (+28.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Self-Propelled Fork-Lift Trucks with Non-Electric Motor

Imports into Azerbaijan

In 2022, supplies from abroad of self-propelled fork-lift trucks with non-electric motor increased by 53% to X units, rising for the second consecutive year after two years of decline. Over the period under review, imports continue to indicate a moderate increase. The pace of growth appeared the most rapid in 2018 when imports increased by 353%. As a result, imports attained the peak of X units. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, self-propelled non-electric fork-lift truck imports soared to $X in 2022. Overall, imports, however, saw a perceptible contraction. The pace of growth was the most pronounced in 2018 with an increase of 279%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of self-propelled non-electric fork-lift truck to Azerbaijan, accounting for a 49% share of total imports. Moreover, self-propelled non-electric fork-lift truck imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X units), twofold. Germany (X units) ranked third in terms of total imports with a 19% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +12.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+11.3% per year) and Germany (-1.5% per year).

In value terms, China ($X) constituted the largest supplier of self-propelled fork-lift trucks with non-electric motor to Azerbaijan, comprising 36% of total imports. The second position in the ranking was held by Germany ($X), with a 13% share of total imports. It was followed by the United States, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +7.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-11.5% per year) and the United States (+18.8% per year).

Import Prices by Country

In 2022, the average self-propelled non-electric fork-lift truck import price amounted to $X per unit, dropping by -21.6% against the previous year. In general, the import price continues to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2020 an increase of 39%. Over the period under review, average import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat 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 France ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+14.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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