In 2021, the Azerbaijani market for pulley tackle and hoists powered by an electric motor decreased by -X% to $X, falling for the second year in a row after three years of growth. Over the period under review, consumption, however, continues to indicate a abrupt contraction. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a lower figure.
In 2021, about X sets of pulley blocks and cranes driven by electric motors were exported from Azerbaijan; a decrease of -X% compared to the previous year. Overall, there has been a sudden setback in exports. The most notable growth rate was in 2014, when exports increased by X%. As a result, exports peak at X units. From 2015 to 2021, the momentum of export growth failed to resume.
In terms of value, exports of electric pulley blocks and cranes have shrunk sharply to X dollars in 2021. Overall, exports are still shrinking sharply. The smallest drop of -X% was in 2018. In 2012, exports peaked at $X; however, from 2013 to 2021, exports decreased slightly.
The Netherlands (X units) is the main export destination of Azerbaijan's motor-driven pulley blocks and cranes, accounting for X% of total exports. In addition, the number of pulley blocks and electric hoists exported to the Netherlands exceeded eight times the number (X units) shipped to the second largest destination, Senegal. Between 2012 and 2021, the Netherlands will grow at an average annual rate of +X%.
From 2012 to 2021, the average annual growth rate in Senegalese values is relatively modest.
In 2021, the number of imported electric pulley blocks and cranes in Azerbaijan surged to X units, an increase of X% over the previous year. Overall, however, imports have fallen sharply. The most notable growth rate was in 2015, when imports increased by X%. Thus, imports peak at X units. From 2016 to 2021, the import growth rate will remain at a low level.
In terms of value, in 2021, imports of electric pulley blocks and cranes have dropped significantly to X dollars. However, imports fell sharply during the period under review. The most notable growth rate was in 2015, when imports increased by X%. As a result, imports peaked at $X.
From 2016 to 2021, import growth fails to regain momentum.
China (X units), South Korea (X units) and Turkey (X units) are the main suppliers of electric pulley blocks and cranes imported into Azerbaijan, together accounting for X% of the total imports.
From 2012 to 2021, among the major suppliers, China has the most significant procurement growth rate (+X% CAGR), while other major suppliers' imports show a mixed trend.
China ($X) is the largest supplier of pulley blocks and electric hoists to Azerbaijan by value, accounting for X% of total imports. In second place is Turkey ($X), accounting for X% of total imports. It is followed by South Korea with an X% share. From 2012 to 2021, the average annual growth rate of China's value will total +X%. The average annual growth rates of imports from the remaining suppliers are as follows: Turkey (-X% per year) and South Korea (-X per year).
In value terms, China constituted the largest supplier of pulley tackle and hoists powered by an electric motor to Azerbaijan, comprising 58% of total imports. The second position in the ranking was taken by Turkey, with a 9.2% share of total imports. It was followed by South Korea, with a 7.9% share.
The average export price for pulley tackle and hoists powered by an electric motor stood at $313 per unit in 2021, dropping by -78.7% against the previous year.
In 2021, the average import price for pulley tackle and hoists powered by an electric motor amounted to $1,373 per unit, declining by -65.8% against the previous year.
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