Turkey: Bearing Market 2024

Bearing Market Size in Turkey

The Turkish bearing market totaled $X in 2022, with an increase of X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Bearing consumption peaked in 2022 and is likely to see gradual growth in years to come.

Bearing Production in Turkey

In value terms, bearing production declined to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Bearing Exports

Exports from Turkey

In 2022, shipments abroad of ball or roller bearings increased by X% to X tons, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when exports increased by X%. The exports peaked in 2022 and are likely to continue growth in years to come.

In value terms, bearing exports amounted to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Germany (X tons), Iran (X tons) and the United States (X tons) were the main destinations of bearing exports from Turkey, with a combined X% share of total exports. China, the Czech Republic, France, Russia, India, Poland, Austria, Italy, Mexico and Canada lagged somewhat behind, together comprising a further X%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

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

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

Export Prices by Country

The average bearing export price stood at $X per ton in 2021, surging by X% against the previous year. Over the last nine-year period, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, 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 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 Mexico (X%), while the prices for the other major destinations experienced more modest paces of growth.

Bearing Imports

Imports into Turkey

In 2022, approx. X tons of ball or roller bearings were imported into Turkey; jumping by X% compared with the year before. Over the period under review, total imports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, bearing imports surged to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest bearing supplier to Turkey, accounting for a X% share of total imports. Moreover, bearing imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), fivefold. The third position in this ranking was held by France (X tons), with an X% share.

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

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

In terms of the main suppliers, Austria, with a CAGR of X%, saw the highest rates of growth with regard to 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 bearing import price stood at $X per ton in 2021, rising by X% against the previous year. Overall, the import price, however, showed a mild downturn. The pace of growth appeared the most rapid in 2017 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, 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 Germany ($X per ton), while the price for India ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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