Turkey: Ball Bearing Market 2024

Ball Bearing Market Size in Turkey

In 2021, the Turkish ball bearing market decreased by -7.6% to $X, falling for the second year in a row after four years of growth. The market value increased at an average annual rate of +2.1% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. Ball bearing consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Ball Bearing Production in Turkey

In value terms, ball bearing production stood at $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.6% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2013 when the production volume increased by 19%. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Ball Bearing Exports

Exports from Turkey

In 2021, after two years of decline, there was significant growth in overseas shipments of ball bearings, when their volume increased by 109% to X tons. Overall, total exports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +8.6% over the last nine-year period. The trend pattern, however, 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.

In value terms, ball bearing exports surged to $X in 2021. Over the period under review, total exports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +9.2% over the last nine years. The trend pattern, however, 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), the United States (X tons) and China (X tons) were the main destinations of ball bearing exports from Turkey, with a combined 48% share of total exports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +64.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for ball bearing exported from Turkey were Germany ($X), the United States ($X) and Iran ($X), together comprising 56% of total exports. France, China, the Czech Republic, Austria, Italy, Canada, Poland, India, Russia and Mexico lagged somewhat behind, together comprising a further 32%.

China, with a CAGR of +48.4%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average ball bearing export price stood at $X per ton in 2021, with an increase of 2.3% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average export price increased by 15%. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Canada ($X per ton), while the average price for exports to the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Iran (+7.9%), while the prices for the other major destinations experienced more modest paces of growth.

Ball Bearing Imports

Imports into Turkey

In 2021, the amount of ball bearings imported into Turkey expanded markedly to X tons, rising by 13% against the year before. The total import volume increased at an average annual rate of +4.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, ball bearing imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 31%. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest ball bearing supplier to Turkey, with a 47% share of total imports. Moreover, ball bearing imports from China exceeded the figures recorded by the second-largest supplier, France (X tons), threefold. Italy (X tons) ranked third in terms of total imports with a 7.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +7.5%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+3.8% per year) and Italy (+4.8% per year).

In value terms, the largest ball bearing suppliers to Turkey were China ($X), France ($X) and Italy ($X), together comprising 54% of total imports. Germany, Japan, Poland, South Korea, Austria, Romania, the UK and Slovakia lagged somewhat behind, together comprising a further 32%.

In terms of the main suppliers, Romania, with a CAGR of +26.2%, 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

In 2021, the average ball bearing import price amounted to $X per ton, with an increase of 7.5% against the previous year. Over the period under review, the import price, however, continues to indicate a mild decrease. The pace of growth appeared the most rapid in 2017 when the average import price increased by 26% against the previous year. As a result, import price reached the peak level of $X per ton. From 2018 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+2.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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