Turkey: Market for Boards, Consoles, Equipped With Electrical Switching Apparatus For A Voltage Exceeding 1000 V 2024

Market Size for Boards, Consoles, Equipped With Electrical Switching Apparatus For A Voltage Exceeding 1000 V in Turkey

In 2022, the Turkish electrical board and console market decreased by -71.5% to $X, falling for the fourth consecutive year after four years of growth. Overall, consumption recorded a deep setback. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Production of Boards, Consoles, Equipped With Electrical Switching Apparatus For A Voltage Exceeding X V in Turkey

In value terms, electrical board and console production shrank rapidly to $X in 2022 estimated in export price. In general, production, however, enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of 67% against the previous year. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Boards, Consoles, Equipped With Electrical Switching Apparatus For A Voltage Exceeding 1000 V

Exports from Turkey

Electrical board and console exports from Turkey rose rapidly to X units in 2022, with an increase of 13% compared with 2021. Over the period under review, total exports indicated a notable increase from 2012 to 2022: its volume increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +21.7% against 2019 indices. The pace of growth appeared the most rapid in 2013 when exports increased by 109%. As a result, the exports reached the peak of X units. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, electrical board and console exports rose rapidly to $X in 2022. In general, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 65% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Iraq (X units) was the main destination for electrical board and console exports from Turkey, accounting for a 19% share of total exports. Moreover, electrical board and console exports to Iraq exceeded the volume sent to the second major destination, Turkmenistan (X units), threefold. The Netherlands (X units) ranked third in terms of total exports with a 6.3% share.

From 2012 to 2022, the average annual growth rate of volume to Iraq stood at +6.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkmenistan (+4.4% per year) and the Netherlands (+29.2% per year).

In value terms, Iraq ($X) remains the key foreign market for boards, consoles, equipped with electrical switching apparatus for a voltage exceeding X v exports from Turkey, comprising 16% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 7.3% share of total exports. It was followed by Qatar, with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Iraq amounted to -1.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+27.6% per year) and Qatar (+35.6% per year).

Export Prices by Country

In 2022, the average electrical board and console export price amounted to $X per unit, dropping by -4.7% against the previous year. Overall, the export price recorded a perceptible slump. The most prominent rate of growth was recorded in 2014 when the average export price increased by 16% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, 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 Germany ($X per unit), while the average price for exports to Algeria ($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 France (+3.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Boards, Consoles, Equipped With Electrical Switching Apparatus For A Voltage Exceeding 1000 V

Imports into Turkey

In value terms, electrical board and console imports surged to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by 250%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest electrical board and console supplier to Turkey, with a 50% share of total imports. Moreover, electrical board and console imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), twofold. The third position in this ranking was taken by the Czech Republic (X units), with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +14.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+3.1% per year) and the Czech Republic (-2.8% per year).

In value terms, the largest electrical board and console suppliers to Turkey were China ($X), Germany ($X) and Japan ($X), together comprising 70% of total imports.

In terms of the main suppliers, Japan, with a CAGR of +208.9%, 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 2022, the average electrical board and console import price amounted to $X per unit, which is down by -15.1% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by 32%. Over the period under review, average import prices hit record highs at $X per unit in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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