Azerbaijan: Vacuum Vessel Market 2024

Vacuum Vessel Market Size in Azerbaijan

The Azerbaijani vacuum vessel market skyrocketed to $X in 2022, picking up by 27% 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 recorded a significant increase. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the immediate term.

Vacuum Vessel Exports

Exports from Azerbaijan

In 2022, vacuum vessel exports from Azerbaijan surged to X units, rising by 145% on the previous year's figure. Over the period under review, exports showed a significant increase. The most prominent rate of growth was recorded in 2017 when exports increased by 228% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, vacuum vessel exports fell remarkably to $X in 2022. Overall, exports, however, continue to indicate a significant curtailment. The smallest decline of -23.5% was in 2018. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Angola (X units) was the main destination for vacuum vessel exports from Azerbaijan, accounting for a 86% share of total exports. Moreover, vacuum vessel exports to Angola exceeded the volume sent to the second major destination, Turkey (X units), more than tenfold. Georgia (X units) ranked third in terms of total exports with a 4.6% share.

From 2016 to 2022, the average annual rate of growth in terms of volume to Angola was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+100.0% per year) and Georgia (-10.9% per year).

In value terms, the largest markets for vacuum vessel exported from Azerbaijan were Angola ($X), Turkey ($X) and Georgia ($X), with a combined 86% share of total exports.

Turkey, with a CAGR of +115.4%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average vacuum vessel export price stood at $X per unit in 2022, waning by -71.9% against the previous year. In general, the export price showed a significant decline. The pace of growth was the most pronounced in 2018 an increase of 68% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Sri Lanka ($X per unit), while the average price for exports to Angola ($X per unit) was amongst the lowest.

From 2016 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kazakhstan (+22.3%), while the prices for the other major destinations experienced a decline.

Vacuum Vessel Imports

Imports into Azerbaijan

In 2022, purchases abroad of vacuum vessels increased by 23% to X units, rising for the second consecutive year after two years of decline. Over the period under review, imports showed a significant expansion. The growth pace was the most rapid in 2013 with an increase of 212% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, vacuum vessel imports skyrocketed to $X in 2022. In general, imports continue to indicate strong growth. The pace of growth was the most pronounced in 2016 when imports increased by 159%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X units) was the main vacuum vessel supplier to Azerbaijan, with a 97% share of total imports. It was followed by Turkey (X units), with a 2.2% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China totaled +48.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+18.6% per year) and Ukraine (-60.0% per year).

In value terms, China ($X) constituted the largest supplier of vacuum vessels to Azerbaijan, comprising 90% of total imports. The second position in the ranking was held by Turkey ($X), with a 6.1% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China amounted to +46.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+14.7% per year) and Ukraine (-61.0% per year).

Import Prices by Country

In 2022, the average vacuum vessel import price amounted to $X per unit, rising by 7.2% against the previous year. Over the period under review, the import price, however, showed a deep reduction. The pace of growth was the most pronounced in 2016 an increase of 52% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Turkey ($X per unit), while the price for China ($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 (+6.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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