Azerbaijan: Static Converter Market 2024

Static Converter Market Size in Azerbaijan

The Azerbaijani static converter market surged to $X in 2021, growing by 30% 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). In general, consumption recorded a significant expansion. Over the period under review, the market attained the maximum level in 2021 and is likely to see steady growth in the near future.

Static Converter Exports

Exports from Azerbaijan

In 2021, the amount of static converters exported from Azerbaijan reduced remarkably to X units, which is down by -25.9% on 2020. In general, exports, however, recorded resilient growth. The growth pace was the most rapid in 2020 with an increase of 154%. As a result, the exports attained the peak of X units, and then declined significantly in the following year.

In value terms, static converter exports reduced remarkably to $X in 2021. Over the period under review, exports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 400%. As a result, the exports attained the peak of $X, and then contracted significantly in the following year.

Exports by Country

Italy (X units), the United Arab Emirates (X units) and the Philippines (X units) were the main destinations of static converter exports from Azerbaijan, with a combined 63% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of +455.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for static converter exported from Azerbaijan were Italy ($X), Russia ($X) and the UK ($X), with a combined 63% share of total exports. These countries were followed by the Netherlands, the United Arab Emirates, Georgia, Luxembourg, the United States and the Philippines, which together accounted for a further 12%.

In terms of the main countries of destination, the United Arab Emirates, with a CAGR of +285.3%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average static converter export price stood at $X per unit in 2021, rising by 9.2% against the previous year. Over the period under review, the export price recorded buoyant growth. The most prominent rate of growth was recorded in 2020 an increase of 97% against the previous year. The export price peaked in 2021 and is likely to see gradual growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was Russia ($X per unit), while the average price for exports to the Philippines ($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 Finland (+20.8%), while the prices for the other major destinations experienced more modest paces of growth.

Static Converter Imports

Imports into Azerbaijan

For the tenth year in a row, Azerbaijan recorded growth in purchases abroad of static converters, which increased by 33% to X units in 2021. Overall, imports recorded significant growth. The growth pace was the most rapid in 2015 when imports increased by 142% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, static converter imports contracted markedly to $X in 2021. Over the period under review, imports continue to indicate a moderate expansion. The pace of growth was the most pronounced in 2015 with an increase of 102% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest static converter supplier to Azerbaijan, with a 80% share of total imports. Moreover, static converter imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X units), ninefold.

From 2012 to 2021, the average annual growth rate of volume from China totaled +70.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+43.1% per year) and the United Arab Emirates (+50.3% per year).

In value terms, China ($X) constituted the largest supplier of static converters to Azerbaijan, comprising 42% of total imports. The second position in the ranking was taken by Turkey ($X), with a 14% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China amounted to +21.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+1.6% per year) and the United Arab Emirates (+7.7% per year).

Import Prices by Country

The average static converter import price stood at $X per unit in 2021, with a decrease of -37% against the previous year. In general, the import price faced a precipitous descent. The most prominent rate of growth was recorded in 2015 a decrease of -16.2%. Over the period under review, average import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was the United Arab Emirates ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-28.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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