Azerbaijan: Market for Pneumatic Or Hydraulic Hand Tools 2024

Market Size for Pneumatic Or Hydraulic Hand Tools in Azerbaijan

In 2023, the Azerbaijani market for pneumatic or hydraulic hand tools increased by X% to $X, rising for the third consecutive year after two years of decline. In general, consumption showed a strong increase. Pneumatic or hydraulic hand tool consumption peaked in 2023 and is likely to see gradual growth in years to come.

Production of Pneumatic Or Hydraulic Hand Tools in Azerbaijan

In value terms, pneumatic or hydraulic hand tool production reduced modestly to $X in 2023 estimated in export price. Over the period under review, production recorded a abrupt downturn. The most prominent rate of growth was recorded in 2013 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2014 to 2023, production growth remained at a lower figure.

Exports of Pneumatic Or Hydraulic Hand Tools

Exports from Azerbaijan

Pneumatic or hydraulic hand tool exports from Azerbaijan contracted markedly to X units in 2023, reducing by X% against the previous year's figure. In general, exports, however, saw a resilient expansion. The pace of growth was the most pronounced in 2019 when exports increased by X% against the previous year. As a result, the exports reached the peak of X units. From 2020 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, pneumatic or hydraulic hand tool exports dropped markedly to $X in 2023. Over the period under review, exports, however, recorded strong growth. The pace of growth appeared the most rapid in 2019 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2022, and then shrank significantly in the following year.

Exports by Country

Uzbekistan (X units) was the main destination for pneumatic or hydraulic hand tool exports from Azerbaijan, with a X% share of total exports. Moreover, pneumatic or hydraulic hand tool exports to Uzbekistan exceeded the volume sent to the second major destination, Georgia (X units), fivefold. Finland (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Uzbekistan amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Georgia (X% per year) and Finland (X% per year).

In value terms, the largest markets for pneumatic or hydraulic hand tool exported from Azerbaijan were Finland ($X), Turkey ($X) and the UK ($X), together accounting for X% of total exports. Uzbekistan, Norway and Georgia lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Uzbekistan, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average export price for pneumatic or hydraulic hand tools amounted to $X per unit, declining by X% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per unit in 2021; however, from 2022 to 2023, the export prices failed to regain momentum.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Pneumatic Or Hydraulic Hand Tools

Imports into Azerbaijan

In 2023, supplies from abroad of pneumatic or hydraulic hand tools increased by X% to X units, rising for the third year in a row after two years of decline. Over the period under review, imports enjoyed a significant increase. The growth pace was the most rapid in 2018 when imports increased by X%. Imports peaked in 2023 and are likely to see steady growth in the immediate term.

In value terms, pneumatic or hydraulic hand tool imports expanded slightly to $X in 2023. Overall, imports recorded a resilient increase. The pace of growth was the most pronounced in 2015 when imports increased by X%. Imports peaked at $X in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, China (X units) was the main supplier of pneumatic or hydraulic hand tool to Azerbaijan, with a X% share of total imports. It was followed by Turkey (X units), with a X% share of total imports. Germany (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and Germany (X% per year).

In value terms, China ($X) constituted the largest supplier of pneumatic or hydraulic hand tools to Azerbaijan, comprising X% of total imports. The second position in the ranking was taken by the UK ($X), with an X% share of total imports. It was followed by Turkey, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (X% per year) and Turkey (X% per year).

Import Prices by Country

In 2023, the average import price for pneumatic or hydraulic hand tools amounted to $X per unit, increasing by X% against the previous year. Overall, the import price, however, continues to indicate a abrupt decline. The pace of growth was the most pronounced in 2019 an increase of X%. Over the period under review, average import prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was the UK ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Germany (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform