Azerbaijan: Market for Pneumatic Or Hydraulic Hand Tools 2024

Market Size for Pneumatic Or Hydraulic Hand Tools in Azerbaijan

In 2021, the Azerbaijani market for pneumatic or hydraulic hand tools increased by 27% to $X, rising for the fourth consecutive year after two years of decline. In general, consumption enjoyed a resilient increase. Over the period under review, the market attained the maximum level in 2021 and is likely to continue growth in the near future.

Production of Pneumatic Or Hydraulic Hand Tools in Azerbaijan

In value terms, pneumatic or hydraulic hand tool production rose markedly to $X in 2021 estimated in export price. Overall, production, however, recorded a abrupt contraction. The pace of growth was the most pronounced in 2013 with an increase of 150%. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Exports of Pneumatic Or Hydraulic Hand Tools

Exports from Azerbaijan

After three years of decline, shipments abroad of pneumatic or hydraulic hand tools increased by 9.1% to X kg in 2021. Over the period under review, exports, however, continue to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2014 with an increase of 999%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, pneumatic or hydraulic hand tool exports reduced notably to $X in 2021. Overall, exports, however, continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2014 when exports increased by 990% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Georgia (X kg), Cuba (X kg) and Kazakhstan (X kg) were the main destinations of pneumatic or hydraulic hand tool exports from Azerbaijan, together comprising 64% of total exports. Portugal, Oman, Turkey, the UK and the Netherlands lagged somewhat behind, together comprising a further 27%.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +21.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for pneumatic or hydraulic hand tool exported from Azerbaijan were Oman ($X), Portugal ($X) and Georgia ($X), with a combined 50% share of total exports. These countries were followed by Turkey, Kazakhstan, the UK, Cuba and the Netherlands, which together accounted for a further 27%.

Among the main countries of destination, the Netherlands, with a CAGR of +53.4%, 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 export price for pneumatic or hydraulic hand tools stood at $X per ton in 2021, declining by -44.4% against the previous year. Overall, the export price saw a mild descent. The most prominent rate of growth was recorded in 2018 an increase of 154%. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Oman ($X per ton), while the average price for exports to Cuba ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+3,416.5%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Pneumatic Or Hydraulic Hand Tools

Imports into Azerbaijan

In 2021, overseas purchases of pneumatic or hydraulic hand tools increased by 20% to X tons, rising for the seventh year in a row after two years of decline. In general, imports recorded a significant increase. The most prominent rate of growth was recorded in 2018 when imports increased by 144%. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in the near future.

In value terms, pneumatic or hydraulic hand tool imports surged to $X in 2021. Over the period under review, imports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2015 with an increase of 125%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of pneumatic or hydraulic hand tool to Azerbaijan, accounting for a 86% share of total imports. Moreover, pneumatic or hydraulic hand tool imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from China totaled +55.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-0.5% per year) and the United Arab Emirates (-2.8% per year).

In value terms, China ($X) constituted the largest supplier of pneumatic or hydraulic hand tools to Azerbaijan, comprising 38% of total imports. The second position in the ranking was taken by Turkey ($X), with a 2.8% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China totaled +44.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-6.6% per year) and the United Arab Emirates (-10.0% per year).

Import Prices by Country

The average import price for pneumatic or hydraulic hand tools stood at $X per ton in 2021, jumping by 23% against the previous year. In general, the import price, however, recorded a deep contraction. The growth pace was the most rapid in 2014 an increase of 30%. Over the period under review, average import prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (-6.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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