Azerbaijan: Market for Toothed wheels, chain sprockets and other transmission elements 2024

Market Size for Toothed wheels, chain sprockets and other transmission elements in Azerbaijan

In 2021, the Azerbaijani market for toothed wheels, chain sprockets and other transmission elements increased by 6.8% to $X, rising for the second year in a row after two years of decline. Overall, consumption, however, saw a slight decline. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Exports of Toothed wheels, chain sprockets and other transmission elements

Exports from Azerbaijan

In 2021, approx. X tons of toothed wheels, chain sprockets and other transmission elements were exported from Azerbaijan; growing by 386% on 2020. Overall, exports recorded a significant expansion. The growth pace was the most rapid in 2019 with an increase of 24,985% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports of failed to regain momentum.

In value terms, exports of toothed wheels, chain sprockets and other transmission elements skyrocketed to $X in 2021. In general, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 4,905%. Over the period under review, the exports of reached the peak figure at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Poland (X tons) was the main destination for exports of toothed wheels, chain sprockets and other transmission elements from Azerbaijan, accounting for a 88% share of total exports. Moreover, exports of toothed wheels, chain sprockets and other transmission elements to Poland exceeded the volume sent to the second major destination, the UK (X tons), ninefold.

From 2012 to 2021, the average annual growth rate of volume to Poland amounted to +109.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+639.8% per year) and Georgia (-84.1% per year).

In value terms, the largest markets for toothed wheels, chain sprockets and other transmission elements exported from Azerbaijan were the UK ($X), Poland ($X) and Georgia ($X), together comprising 75% of total exports.

In terms of the main countries of destination, the UK, with a CAGR of +782.8%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average export price for toothed wheels, chain sprockets and other transmission elements stood at $X per ton in 2021, which is down by -73.9% against the previous year. Overall, the export price saw a dramatic contraction. The growth pace was the most rapid in 2020 when the average export price increased by 308%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Georgia ($X per ton), while the average price for exports to Poland ($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 Poland (+53.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Toothed wheels, chain sprockets and other transmission elements

Imports into Azerbaijan

For the third year in a row, Azerbaijan recorded growth in supplies from abroad of toothed wheels, chain sprockets and other transmission elements, which increased by 43% to X tons in 2021. Overall, imports enjoyed a remarkable increase. The growth pace was the most rapid in 2017 when imports increased by 194%. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of toothed wheels, chain sprockets and other transmission elements skyrocketed to $X in 2021. In general, imports, however, saw a perceptible decline. The most prominent rate of growth was recorded in 2017 with an increase of 54% against the previous year. Over the period under review, imports of hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Russia (X tons), China (X tons) and the United Arab Emirates (X tons) were the main suppliers of imports of toothed wheels, chain sprockets and other transmission elements to Azerbaijan, with a combined 80% share of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +36.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), the United Arab Emirates ($X) and China ($X) appeared to be the largest toothed wheels, chain sprockets and other transmission elements suppliers to Azerbaijan, with a combined 47% share of total imports.

China, with a CAGR of +41.2%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for toothed wheels, chain sprockets and other transmission elements stood at $X per ton in 2021, reducing by -12.1% against the previous year. Over the period under review, the import price faced a deep downturn. The pace of growth was the most pronounced in 2018 an increase of 95% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+4.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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