Azerbaijan: Bearing Market 2024

Bearing Market Size in Azerbaijan

The Azerbaijani bearing market surged to $X in 2022, jumping by X% against the previous year. Overall, consumption saw a strong expansion. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Bearing Production in Azerbaijan

In value terms, bearing production declined to $X in 2022 estimated in export price. In general, production continues to indicate a noticeable downturn. The pace of growth appeared the most rapid in 2014 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Bearing Exports

Exports from Azerbaijan

In 2022, overseas shipments of ball or roller bearings decreased by X% to X tons, falling for the second year in a row after two years of growth. In general, exports recorded a deep downturn. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, bearing exports plummeted to $X in 2022. Overall, exports, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Georgia (X kg), Russia (X kg) and Kazakhstan (X kg) were the main destinations of bearing exports from Azerbaijan, together accounting for X% of total exports.

From 2012 to 2022, the biggest increases were recorded for Georgia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) emerged as the key foreign market for ball or roller bearings exports from Azerbaijan, comprising X% of total exports. The second position in the ranking was taken by Kazakhstan ($X), with a X% share of total exports. It was followed by the UK, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Russia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kazakhstan (X% per year) and the UK (X% per year).

Export Prices by Country

The average bearing export price stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the export price recorded a significant expansion. The pace of growth was the most pronounced in 2015 an increase of X% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (X.5%), while the prices for the other major destinations experienced more modest paces of growth.

Bearing Imports

Imports into Azerbaijan

In 2022, imports of ball or roller bearings into Azerbaijan skyrocketed to X tons, increasing by X% against the previous year. Overall, imports posted a significant increase. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, bearing imports expanded rapidly to $X in 2022. Over the period under review, imports posted buoyant growth. The most prominent rate of growth was recorded in 2013 with an increase of X%. Imports peaked at $X in 2019; afterwards, it flattened through to 2022.

Imports by Country

In 2022, China (X tons) constituted the largest bearing supplier to Azerbaijan, accounting for a X% share of total imports. Moreover, bearing imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), more than tenfold. The third position in this ranking was taken by Japan (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and Japan (X% per year).

In value terms, China ($X) constituted the largest supplier of ball or roller bearings to Azerbaijan, comprising X% of total imports. The second position in the ranking was taken by Germany ($X), with a X% share of total imports. It was followed by Japan, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Japan (X% per year).

Import Prices by Country

The average bearing import price stood at $X per ton in 2022, waning by X% against the previous year. Overall, the import price showed a deep contraction. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :