Azerbaijan: Accumulator Market 2022

Accumulator Market Size in Azerbaijan

In 2021, the Azerbaijani accumulator market decreased by -X% to $X, falling for the second year in a row after four years of growth. Overall, consumption, however, recorded prominent growth. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Accumulator Exports

Exports from Azerbaijan

After two years of decline, shipments abroad of electric accumulators increased by X% to X units in 2021. Over the period under review, exports showed a measured expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, accumulator exports surged to $X in 2021. Overall, exports continue to indicate a buoyant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The UK (X units) was the main destination for accumulator exports from Azerbaijan, accounting for a X% share of total exports. Moreover, accumulator exports to the UK exceeded the volume sent to the second major destination, Spain (X units), twofold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the UK stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (X% per year) and Georgia (-X% per year).

In value terms, the UK ($X) emerged as the key foreign market for accumulator exports from Azerbaijan, comprising X% of total exports. The second position in the ranking was held by Georgia ($X), with a X% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the UK totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Georgia (-X% per year) and Spain (X% per year).

Export Prices by Country

In 2021, the average accumulator export price amounted to $X per unit, picking up by X% against the previous year. Over the period under review, export price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, accumulator export price increased by +X% against 2018 indices. The most prominent rate of growth was recorded in 2019 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by the country of destination: the country with the highest price was the UK ($X per unit), while the average price for exports to Spain ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+X%), while the prices for the other major destinations experienced mixed trend patterns.

Accumulator Imports

Imports into Azerbaijan

In 2021, supplies from abroad of electric accumulators decreased by -X% to X units, falling for the second year in a row after four years of growth. Over the period under review, imports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Imports peaked at X units in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, accumulator imports dropped to $X in 2021. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when imports increased by X%. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X units), Turkey (X units) and Kazakhstan (X units) were the main suppliers of accumulator imports to Azerbaijan, together comprising X% of total imports.

From 2012 to 2021, the biggest increases were in China (with a CAGR of +X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest accumulator suppliers to Azerbaijan were Turkey ($X), China ($X) and Russia ($X), with a combined X% share of total imports.

China, with a CAGR of +X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average accumulator import price stood at $X per unit in 2021, picking up by X% against the previous year. Overall, the import price, however, saw a abrupt decrease. The growth pace was the most rapid in 2020 an increase of X% 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 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Turkey ($X per unit), while the price for Vietnam ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform