Turkey: Market for Turbo, Rotary and Reciporating Displacement Compressors 2024

Market Size for Turbo, Rotary and Reciporating Displacement Compressors in Turkey

In 2022, after two years of growth, there was significant decline in the Turkish market for turbo, rotary and reciporating displacement compressors, when its value decreased by -10.2% to $X. In general, consumption showed a mild reduction. Over the period under review, the market reached the maximum level at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Production of Turbo, Rotary and Reciporating Displacement Compressors in Turkey

In value terms, production of turbo, rotary and reciporating displacement compressors shrank remarkably to $X in 2022 estimated in export price. In general, production, however, continues to indicate a strong expansion. The pace of growth appeared the most rapid in 2018 when the production volume increased by 233%. Over the period under review, production of reached the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Turbo, Rotary and Reciporating Displacement Compressors

Exports from Turkey

After two years of growth, overseas shipments of turbo, rotary and reciporating displacement compressors decreased by -3.2% to X units in 2022. Over the period under review, exports, however, continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 58%. As a result, the exports reached the peak of X units, and then reduced slightly in the following year.

In value terms, exports of turbo, rotary and reciporating displacement compressors surged to $X in 2022. In general, exports, however, enjoyed buoyant growth. The pace of growth appeared the most rapid in 2021 with an increase of 39%. Over the period under review, the exports of hit record highs in 2022 and are likely to continue growth in the near future.

Exports by Country

Russia (X units), Denmark (X units) and Azerbaijan (X units) were the main destinations of exports of turbo, rotary and reciporating displacement compressors from Turkey, with a combined 17% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Denmark (with a CAGR of +62.9%), while the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) remains the key foreign market for turbo, rotary and reciporating displacement compressors exports from Turkey, comprising 21% of total exports. The second position in the ranking was held by the United States ($X), with a 6.4% share of total exports. It was followed by Germany, with a 4.2% share.

From 2012 to 2022, the average annual growth rate of value to Russia amounted to +13.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+17.9% per year) and Germany (+10.4% per year).

Export Prices by Country

In 2022, the average export price for turbo, rotary and reciporating displacement compressors amounted to $X per unit, growing by 24% against the previous year. In general, the export price recorded a mild increase. The most prominent rate of growth was recorded in 2018 when the average export price increased by 33% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to continue growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Turkmenistan (+11.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Turbo, Rotary and Reciporating Displacement Compressors

Imports into Turkey

After two years of growth, purchases abroad of turbo, rotary and reciporating displacement compressors decreased by -2.8% to X units in 2022. In general, total imports indicated measured growth from 2012 to 2022: its volume increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 51% against the previous year. Over the period under review, imports of hit record highs at X units in 2021, and then shrank modestly in the following year.

In value terms, imports of turbo, rotary and reciporating displacement compressors contracted notably to $X in 2022. Overall, total imports indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +49.9% against 2019 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 77% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest turbo, rotary and reciporating displacement compressor supplier to Turkey, accounting for a 73% share of total imports. Moreover, imports of turbo, rotary and reciporating displacement compressors from China exceeded the figures recorded by the second-largest supplier, Germany (X units), more than tenfold. France (X units) ranked third in terms of total imports with a 3.7% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +14.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+7.7% per year) and France (-11.9% per year).

In value terms, the largest turbo, rotary and reciporating displacement compressor suppliers to Turkey were China ($X), Germany ($X) and Belgium ($X), with a combined 51% share of total imports. The UK, India, Slovakia, France and the Czech Republic lagged somewhat behind, together accounting for a further 21%.

Among the main suppliers, Slovakia, with a CAGR of +50.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for turbo, rotary and reciporating displacement compressors stood at $X per unit in 2022, shrinking by -13.7% against the previous year. In general, the import price continues to indicate a noticeable decrease. The pace of growth was the most pronounced in 2021 an increase of 74% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: 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 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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