CIS: Invalid Carriage Market 2024

Invalid Carriage Market Size in CIS

The CIS invalid carriage market contracted modestly to $X in 2022, waning by -2.4% against the previous year. In general, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Invalid Carriage Production in CIS

In value terms, invalid carriage production fell modestly to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by 33%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Invalid Carriage Exports

Exports in CIS

In 2022, after two years of decline, there was significant growth in overseas shipments of invalid carriages not mechanically propelled, when their volume increased by 24% to X units. In general, exports posted significant growth. The pace of growth was the most pronounced in 2014 when exports increased by 204%. Over the period under review, the exports hit record highs at X units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, invalid carriage exports surged to $X in 2022. Overall, exports showed a significant increase. The growth pace was the most rapid in 2014 with an increase of 405%. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in years to come.

Exports by Country

Russia represented the main exporter of invalid carriages not mechanically propelled in the CIS, with the volume of exports resulting at X units, which was approx. 69% of total exports in 2022. It was distantly followed by Armenia (X units), generating a 30% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to invalid carriage exports from Russia stood at +38.5%. At the same time, Armenia (+161.3%) displayed positive paces of growth. Moreover, Armenia emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +161.3% from 2012-2022. From 2012 to 2022, the share of Armenia increased by +30 percentage points.

In value terms, Russia ($X) remains the largest invalid carriage supplier in the CIS, comprising 76% of total exports. The second position in the ranking was held by Armenia ($X), with a 22% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Russia stood at +32.9%.

Export Prices by Country

In 2022, the export price in the CIS amounted to $X per unit, increasing by 5% against the previous year. In general, the export price, however, continues to indicate a pronounced contraction. The pace of growth was the most pronounced in 2014 an increase of 66% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per unit), while Armenia totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (-4.0%).

Invalid Carriage Imports

Imports in CIS

Invalid carriage imports expanded slightly to X units in 2022, surging by 3% on the previous year's figure. The total import volume increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 27%. Over the period under review, imports attained the peak figure at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, invalid carriage imports dropped slightly to $X in 2022. Total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +6.9% 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 +25.2% against 2019 indices. The growth pace was the most rapid in 2016 with an increase of 34%. The level of import peaked at $X in 2021, and then declined modestly in the following year.

Imports by Country

Russia prevails in imports structure, resulting at X units, which was approx. 78% of total imports in 2022. Kazakhstan (X units) took the second position in the ranking, followed by Armenia (X units). All these countries together held near 14% share of total imports. Moldova (X units) and Azerbaijan (X units) took a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to invalid carriage imports into Russia stood at +2.0%. At the same time, Armenia (+32.2%), Moldova (+12.8%), Kazakhstan (+8.9%) and Azerbaijan (+4.0%) displayed positive paces of growth. Moreover, Armenia emerged as the fastest-growing importer imported in the CIS, with a CAGR of +32.2% from 2012-2022. From 2012 to 2022, the share of Armenia, Kazakhstan and Moldova increased by +4.2, +3.9 and +2.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported invalid carriages not mechanically propelled in the CIS, comprising 82% of total imports. The second position in the ranking was held by Kazakhstan ($X), with an 8.4% share of total imports. It was followed by Azerbaijan, with a 4.5% share.

In Russia, invalid carriage imports increased at an average annual rate of +6.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Kazakhstan (+9.1% per year) and Azerbaijan (+22.9% per year).

Import Prices by Country

In 2022, the import price in the CIS amounted to $X per unit, falling by -4.9% against the previous year. Over the last decade, it increased at an average annual rate of +3.3%. The most prominent rate of growth was recorded in 2013 when the import price increased by 27%. Over the period under review, import prices reached the maximum at $X per unit in 2021, and then shrank modestly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Azerbaijan ($X per unit), while Moldova ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Azerbaijan (+18.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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