Turkey: Bearing Market 2025

Bearing Market Size in Turkey

In 2021, the Turkish bearing market was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of +2.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Bearing consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Bearing Production in Turkey

In value terms, bearing production expanded markedly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 with an increase of 32%. Bearing production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Bearing Exports

Exports from Turkey

After two years of decline, shipments abroad of ball and roller bearings increased by 21% to X tons in 2021. The total export volume increased at an average annual rate of +3.2% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, bearing exports surged to $X in 2021. The total export value increased at an average annual rate of +4.4% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X tons), Syrian Arab Republic (X tons) and the United States (X tons) were the main destinations of bearing exports from Turkey, with a combined 3.4% share of total exports. Iran, France, China, the Czech Republic, the UK, Russia, Poland, Austria, Canada and Azerbaijan lagged somewhat behind, together accounting for a further 2.3%.

From 2012 to 2020, the biggest increases were recorded for China (with a CAGR of +50.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for ball and roller bearings exports from Turkey, comprising 32% of total exports. The second position in the ranking was held by the United States ($X), with a 12% share of total exports. It was followed by Iran, with an 11% share.

From 2012 to 2020, the average annual rate of growth in terms of value to Germany amounted to +5.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+3.5% per year) and Iran (+18.5% per year).

Export Prices by Country

The average bearing export price stood at $X per ton in 2020, surging by 1.7% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 13%. The export price peaked at $X per ton in 2014; however, from 2015 to 2020, the export prices remained at a lower figure.

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

From 2012 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to China (-7.8%), while the prices for the other major destinations experienced a decline.

Bearing Imports

Imports into Turkey

In 2021, the amount of ball and roller bearings imported into Turkey rose sharply to X tons, increasing by 13% on the previous year. The total import volume increased at an average annual rate of +3.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, bearing imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +1.9% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 when imports increased by 23% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2020, Vietnam (X tons) constituted the largest supplier of bearing to Turkey, accounting for a 0.1% share of total imports. It was followed by China (X kg), with less than 0.1% share of total imports. The third position in this ranking was taken by Germany (X kg), with less than 0.1% share.

From 2012 to 2020, the average annual growth rate of volume from Vietnam amounted to +3,212.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-17.0% per year) and Germany (-19.0% per year).

In value terms, the largest bearing suppliers to Turkey were China ($X), Germany ($X) and France ($X), with a combined 56% share of total imports. These countries were followed by Japan, Italy, the United States, Poland, Sweden and Vietnam, which together accounted for a further 30%.

Vietnam, with a CAGR of +828.5%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average bearing import price stood at $X per ton in 2020, reducing by -10.1% against the previous year. Overall, the import price showed a noticeable slump. The most prominent rate of growth was recorded in 2017 when the average import price increased by 15%. The import price peaked at $X per ton in 2013; however, from 2014 to 2020, 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 China ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by China (+22.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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