Turkey: Wood Bending Machine Market 2024

Wood Bending Machine Market Size in Turkey

In 2021, the Turkish wood bending machine market was finally on the rise to reach $X after five years of decline. Overall, consumption, however, recorded a drastic downturn. Wood bending machine consumption peaked at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Wood Bending Machine Production in Turkey

In value terms, wood bending machine production expanded notably to $X in 2021 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 16%. Wood bending machine production peaked at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

Wood Bending Machine Exports

Exports from Turkey

In 2021, after five years of growth, there was significant decline in shipments abroad of bending or assembling machines, when their volume decreased by -8% to X units. Over the period under review, exports, however, enjoyed resilient growth. The pace of growth appeared the most rapid in 2020 when exports increased by 72% against the previous year. As a result, the exports attained the peak of X units, and then declined in the following year.

In value terms, wood bending machine exports soared to $X in 2021. Overall, total exports indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +2.4% 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 reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Iraq (X units) was the main destination for wood bending machine exports from Turkey, with a 36% share of total exports. Moreover, wood bending machine exports to Iraq exceeded the volume sent to the second major destination, Bulgaria (X units), threefold. Kyrgyzstan (X units) ranked third in terms of total exports with a 4.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Iraq amounted to +15.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (+5.3% per year) and Kyrgyzstan (+22.8% per year).

In value terms, Iraq ($X) emerged as the key foreign market for bending or assembling machines exports from Turkey, comprising 16% of total exports. The second position in the ranking was held by Tunisia ($X), with a 5% share of total exports. It was followed by Bulgaria, with a 4.5% share.

From 2012 to 2021, the average annual growth rate of value to Iraq totaled +7.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tunisia (+28.0% per year) and Bulgaria (-4.6% per year).

Export Prices by Country

In 2021, the average wood bending machine export price amounted to $X per unit, picking up by 98% against the previous year. Over the period under review, the export price, however, recorded a noticeable curtailment. Over the period under review, the average export prices hit record highs at $X per unit in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Algeria (+11.9%), while the prices for the other major destinations experienced more modest paces of growth.

Wood Bending Machine Imports

Imports into Turkey

In 2021, the amount of bending or assembling machines imported into Turkey skyrocketed to X units, increasing by 145% on the previous year's figure. Over the period under review, imports, however, recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2019 with an increase of 180% against the previous year. Over the period under review, imports attained the peak figure at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, wood bending machine imports skyrocketed to $X in 2021. In general, imports, however, continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2019 with an increase of 379%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

China (X units), Germany (X units) and Canada (X units) were the main suppliers of wood bending machine imports to Turkey, together comprising 73% of total imports.

From 2012 to 2021, the biggest increases were recorded for Canada (with a CAGR of +41.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest wood bending machine suppliers to Turkey were Austria ($X), Germany ($X) and China ($X), with a combined 75% share of total imports. Canada, Spain, Taiwan (Chinese) and Italy lagged somewhat behind, together comprising a further 25%.

In terms of the main suppliers, Canada, with a CAGR of +22.4%, saw 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 wood bending machine import price stood at $X per unit in 2021, declining by -22% against the previous year. In general, the import price recorded a abrupt contraction. The growth pace was the most rapid in 2013 an increase of 107%. As a result, import price attained the peak level of $X per unit. From 2014 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Austria ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+5.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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