Key Market Indicators
Azerbaijan's gas turbine imports are projected to decline significantly over the next five years. By 2028, imports are expected to drop to approximately $22.9 million, down from about $28.8 million in 2023. This represents an annual decrease of around 3.6%. The downward trend in Azerbaijani demand for gas turbines is not new. Since 2001, the country's demand has been shrinking at an average rate of nearly 20% per year. On the export front, Azerbaijan's performance is also expected to diminish. By 2028, gas turbine exports are forecasted to fall to roughly $1.1 million from $1.3 million in 2023, marking an annual decline of about 3.4%. Contrary to the import trend, Azerbaijani gas turbine supply has shown substantial growth since 2001, increasing by 45.4% annually. However, the country’s ranking in global gas turbine exports has seen some changes. In 2023, Azerbaijan was positioned at number 70, with Botswana surpassing it with exports valued at approximately $1.3 million. In the global context, France, Singapore, and Germany secured the second, third, and fourth spots, respectively, in gas turbine exports for the same year.
