Azerbaijan: Electric Heating Equipment Market 2022

Electric Heating Equipment Market Size in Azerbaijan

The Azerbaijani electric heating equipment market soared to $X in 2021, picking up by X% 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). In general, consumption recorded a modest expansion. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Electric Heating Equipment Exports

Exports from Azerbaijan

In 2021, approx. X units of electric space heating apparatus and soil heating apparatus were exported from Azerbaijan; rising by X% on 2020. Over the period under review, exports continue to indicate a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, electric heating equipment exports soared to $X in 2021. Overall, exports recorded significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Georgia (X units) was the main destination for electric heating equipment exports from Azerbaijan, with a X% share of total exports. Moreover, electric heating equipment exports to Georgia exceeded the volume sent to the second major destination, Turkey (X units), fourfold. The third position in this ranking was occupied by Iran (X units), with a X% share.

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

In value terms, Georgia ($X) remains the key foreign market for electric heating equipment exports from Azerbaijan, comprising X% of total exports. The second position in the ranking was occupied by Norway ($X), with a X% share of total exports. It was followed by Turkey, with a X% share.

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

Export Prices by Country

In 2021, the average electric heating equipment export price amounted to $X per unit, rising by X% against the previous year. In general, the export price, however, recorded a abrupt slump. The most prominent rate of growth was recorded in 2019 when the average export price increased by X%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Norway ($X per unit), while the average price for exports to Turkey ($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 Norway (+X%), while the prices for the other major destinations experienced mixed trend patterns.

Electric Heating Equipment Imports

Imports into Azerbaijan

After two years of decline, supplies from abroad of electric space heating apparatus and soil heating apparatus increased by X% to X units in 2021. Over the period under review, imports recorded temperate growth. The growth pace was the most rapid in 2018 when imports increased by X%. As a result, imports attained the peak of X units. From 2019 to 2021, the growth imports failed to regain momentum.

In value terms, electric heating equipment imports skyrocketed to $X in 2021. Overall, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when imports increased by X% against the previous year. As a result, imports reached the peak of $X; afterwards, it flattened through to 2021.

Imports by Country

In 2021, China (X units) constituted the largest electric heating equipment supplier to Azerbaijan, accounting for a X% share of total imports. Moreover, electric heating equipment imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X units), twofold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +X%.

In value terms, the largest electric heating equipment suppliers to Azerbaijan were China ($X) and Turkey ($X the main suppliers, China, with a CAGR of +X%, recorded the highest rates of growth with regard to the value of imports, over the period under review.

Import Prices by Country

In 2021, the average electric heating equipment import price amounted to $X per unit, shrinking by -X% against the previous year. Over the period under review, the import price saw a noticeable contraction. The growth pace was the most rapid in 2020 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+X%).

Source: IndexBox Platform