Azerbaijan: Vapour Power Unit Market 2023

Vapour Power Unit Market Size in Azerbaijan

In 2021, the Azerbaijani vapour power unit market increased by 23% to $X, rising for the second year in a row after five years of decline. Over the period under review, consumption, however, saw a abrupt curtailment. Vapour power unit consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Vapour Power Unit Exports

Exports from Azerbaijan

In 2021, the amount of condensers for steam or other vapour power units exported from Azerbaijan was estimated at X kg, approximately reflecting the previous year. Over the period under review, exports continue to indicate a deep contraction. The smallest decline of 99.9% was in 2020. The exports peaked at X kg in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, vapour power unit exports amounted to $X in 2021. Overall, exports recorded a relatively flat trend pattern. The smallest decline of 99.9% was in 2020. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Norway (X kg) was the main destination for vapour power unit exports from Azerbaijan, accounting for a approx. 100% share of total exports.

From 2019 to 2021, the average annual growth rate of volume to Norway stood at -5.1%.

From 2019 to 2021, the average annual rate of growth in terms of value to Norway was relatively modest.

Export Prices by Country

In 2021, the average vapour power unit export price amounted to $X per ton, therefore, remained relatively stable against the previous year. Over the period under review, the export price recorded a buoyant increase. The most prominent rate of growth was recorded in 2020 when the average export price decreased by 99.9% against the previous year. The export price peaked in 2021 and is expected to retain growth in the near future.

As there is only one major export destination, the average price level is determined by prices for Norway.

From 2019 to 2021, the rate of growth in terms of prices for Norway amounted to +5.1% per year.

Vapour Power Unit Imports

Imports into Azerbaijan

In 2021, purchases abroad of condensers for steam or other vapour power units increased by 15% to X tons, rising for the second consecutive year after five years of decline. In general, imports, however, saw a abrupt decline. The growth pace was the most rapid in 2020 when imports increased by 114%. Over the period under review, imports reached the maximum at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, vapour power unit imports skyrocketed to $X in 2021. Overall, imports, however, recorded a abrupt setback. The pace of growth was the most pronounced in 2020 when imports increased by 53%. Imports peaked at $X in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The Netherlands (X tons), South Korea (X kg) and the United States (X kg) were the main suppliers of vapour power unit imports to Azerbaijan, together comprising 84% of total imports. Turkey and the UK lagged somewhat behind, together accounting for a further 15%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of +42.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest vapour power unit suppliers to Azerbaijan were the Netherlands ($X), South Korea ($X) and Turkey ($X), with a combined 88% share of total imports. These countries were followed by the United States and the UK, which together accounted for a further 7.3%.

The UK, with a CAGR of +21.9%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average vapour power unit import price amounted to $X per ton, jumping by 18% against the previous year. Overall, the import price, however, showed a abrupt decrease. The most prominent rate of growth was recorded in 2015 when the average import price increased by 75%. Over the period under review, average import prices attained the maximum at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was South Korea ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+198.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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