Azerbaijan’s lifting equipment market surges to $X in 2021, growing by X% year-on-year. This figure reflects the total revenue of producers and importers (excluding logistics costs, retail marketing costs and retailer profits, which will be included in the final consumer price). During the period under review, consumption increased significantly. As a result, consumption has peaked and is likely to continue growing in the short term.
Azerbaijan’s export scale of lifting equipment
In 2021, after a two-year decline, overseas shipments of lifting equipment fell, with sales falling by X% to X units. Overall, exports continue to show sharp declines. 2013 saw the fastest growth, with exports increasing by X% over the previous year. Exports peaked at X units in 2018; however, from 2019 to 2021, exports were slightly lower.
In value terms, hoisting equipment exports contracted significantly to $X in 2021. Overall, exports fell sharply. The most significant growth rate occurred in 2018, which was an X% increase compared to the previous year. Exports peaked at $X in 2014; however, from 2015 to 2021, exports have remained low.
From 2012 to 2021, the average annual sales growth rate in No countries is relatively modest.
Kazakhstan ($X) remains the main foreign market for Azerbaijan’s hoisting equipment exports in value terms.
From 2012 to 2021, the average annual growth rate of value to Kazakhstan is -X%.
Azerbaijan’s import scale of lifting equipment
In 2021, approximately X cranes were imported into Azerbaijan; an increase of X% over the previous year. Overall, imports continued to increase significantly. As a result, imports peaked and may continue to grow in the short term.
Lifting equipment imports surge to $X by value in 2021. During the period under review, imports increased significantly. Therefore, imports have peaked and may continue to grow in the short term.
In 2021, the United Kingdom (X units) is the largest supplier of lifting equipment to Azerbaijan, accounting for X% of total imports. In addition, imports of lifting equipment from the UK were three times higher than the figures recorded by the second largest supplier, Turkey (X units).
From 2012 to 2021, sales in the UK will grow at an average annual rate of +X%.
Turkey ($X) and the United Kingdom ($X) appear to be the largest lifting equipment suppliers in Azerbaijan by value. The UK, with a CAGR of +X%, had the highest growth in import value among the major suppliers during the period under review.
Statistics of various crane suppliers in Azerbaijan
Turkey and the UK are the largest suppliers of lifting equipment to Azerbaijan by value.
In terms of value, Kazakhstan remains the main foreign market for Azerbaijan’s lifting equipment exports.
The average export price of hoisting equipment in 2021 will be US$20,462 per unit, an increase of 7.8% over the previous year.
The average import price of hoisting equipment in 2021 will be US$33,655 per unit, a year-on-year increase of 578%.
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Azerbaijan: Lifting Equipment Market Analysis 2022
