Azerbaijan: Market for Tyres For Buses Or Lorries 2024

Market Size for Tyres For Buses Or Lorries in Azerbaijan

The Azerbaijani truck and bus tyre market skyrocketed to $X in 2022, surging by 16% 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). Overall, consumption continues to indicate a prominent expansion. Truck and bus tyre consumption peaked in 2022 and is likely to see steady growth in the immediate term.

Exports of Tyres For Buses Or Lorries

Exports from Azerbaijan

In 2022, overseas shipments of tyres for buses or lorries increased by 1,009% to X units, rising for the third consecutive year after two years of decline. In general, exports enjoyed a strong increase. The most prominent rate of growth was recorded in 2016 with an increase of 3,550% against the previous year. The exports peaked at X units in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, truck and bus tyre exports soared to $X in 2022. Over the period under review, exports showed a measured increase. The growth pace was the most rapid in 2016 with an increase of 405,775%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Georgia (X units) was the main destination for truck and bus tyre exports from Azerbaijan, with a 95% share of total exports. Moreover, truck and bus tyre exports to Georgia exceeded the volume sent to the second major destination, Uzbekistan (X units), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Georgia stood at +7.4%.

In value terms, Georgia ($X) remains the key foreign market for tyres for buses or lorries exports from Azerbaijan, comprising 96% of total exports. The second position in the ranking was held by Uzbekistan ($X), with a 4.3% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Georgia amounted to +4.3%.

Export Prices by Country

In 2022, the average truck and bus tyre export price amounted to $X per unit, dropping by -15.2% against the previous year. Over the period under review, the export price showed a noticeable descent. The most prominent rate of growth was recorded in 2016 an increase of 11,020% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Georgia ($X per unit), while the average price for exports to Uzbekistan amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Georgia (-2.8%).

Imports of Tyres For Buses Or Lorries

Imports into Azerbaijan

In 2022, imports of tyres for buses or lorries into Azerbaijan amounted to X units, with an increase of 9.8% compared with the previous year's figure. Over the period under review, imports recorded a remarkable increase. The most prominent rate of growth was recorded in 2016 with an increase of 76% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, truck and bus tyre imports soared to $X in 2022. In general, imports recorded a resilient expansion. The most prominent rate of growth was recorded in 2016 with an increase of 108%. Imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, China (X units) constituted the largest supplier of truck and bus tyre to Azerbaijan, accounting for a 66% share of total imports. Moreover, truck and bus tyre imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X units), threefold. Russia (X units) ranked third in terms of total imports with a 6.4% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +13.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+5.2% per year) and Russia (+2.5% per year).

In value terms, China ($X) constituted the largest supplier of tyres for buses or lorries to Azerbaijan, comprising 67% of total imports. The second position in the ranking was held by Turkey ($X), with a 17% share of total imports. It was followed by Russia, with a 6.8% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +22.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+0.6% per year) and Russia (+8.3% per year).

Import Prices by Country

In 2022, the average truck and bus tyre import price amounted to $X per unit, with an increase of 8% against the previous year. In general, import price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, truck and bus tyre import price increased by +3.2% against 2019 indices. The growth pace was the most rapid in 2019 when the average import price increased by 20% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to see gradual growth in years to come.

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 Russia ($X per unit), while the price for Ukraine ($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 Arab Emirates (+23.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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