Azerbaijan: Transmission Shaft Market 2024

Transmission Shaft Market Size in Azerbaijan

The Azerbaijani transmission shaft market expanded to $X in 2022, with an increase of 2% against the previous year. The market value increased at an average annual rate of +1.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Transmission shaft consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Transmission Shaft Production in Azerbaijan

In value terms, transmission shaft production expanded slightly to $X in 2022 estimated in export price. Overall, production, however, enjoyed a perceptible increase. The growth pace was the most rapid in 2014 with an increase of 16% against the previous year. Transmission shaft production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Transmission Shaft Exports

Exports from Azerbaijan

In 2022, transmission shaft exports from Azerbaijan soared to X tons, picking up by 99% compared with the year before. In general, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 215% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, transmission shaft exports shrank to $X in 2022. Overall, exports recorded resilient growth. The pace of growth was the most pronounced in 2014 with an increase of 448%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

The UK (X tons) was the main destination for transmission shaft exports from Azerbaijan, with a 58% share of total exports. Moreover, transmission shaft exports to the UK exceeded the volume sent to the second major destination, Iran (X tons), threefold. The third position in this ranking was held by Kazakhstan (X tons), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume to the UK totaled +209.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (-16.0% per year) and Kazakhstan (+6.3% per year).

In value terms, the UK ($X) emerged as the key foreign market for transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain exports from Azerbaijan, comprising 59% of total exports. The second position in the ranking was taken by Russia ($X), with a 9.6% share of total exports. It was followed by Iran, with an 8.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the UK stood at +154.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+36.9% per year) and Iran (-6.5% per year).

Export Prices by Country

The average transmission shaft export price stood at $X per ton in 2022, reducing by -54.8% against the previous year. Overall, the export price, however, showed a prominent increase. The most prominent rate of growth was recorded in 2014 when the average export price increased by 687% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, 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 Spain ($X per ton), while the average price for exports to Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+45.2%), while the prices for the other major destinations experienced more modest paces of growth.

Transmission Shaft Imports

Imports into Azerbaijan

In 2022, transmission shaft imports into Azerbaijan stood at X tons, picking up by 5.1% against the previous year. Overall, imports showed a remarkable increase. The pace of growth was the most pronounced in 2015 with an increase of 206%. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, transmission shaft imports rose significantly to $X in 2022. Over the period under review, total imports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +50.3% against 2017 indices. The pace of growth was the most pronounced in 2019 with an increase of 24% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of transmission shaft to Azerbaijan, with a 33% share of total imports. Moreover, transmission shaft imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), twofold. Russia (X tons) ranked third in terms of total imports with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +28.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+7.7% per year) and Russia (+0.4% per year).

In value terms, Germany ($X), China ($X) and Turkey ($X) were the largest transmission shaft suppliers to Azerbaijan, with a combined 43% share of total imports. South Korea, Russia, the Netherlands, Sweden and Switzerland lagged somewhat behind, together comprising a further 25%.

Among the main suppliers, South Korea, with a CAGR of +51.3%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average transmission shaft import price amounted to $X per ton, therefore, remained relatively stable against the previous year. In general, the import price, however, showed a pronounced reduction. The most prominent rate of growth was recorded in 2016 when the average import price increased by 152%. Over the period under review, average import prices attained the maximum at $X per ton 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 Switzerland ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Switzerland (+25.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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