Turkey: Shaft Coupling Market 2024

Shaft Coupling Market Size in Turkey

The Turkish shaft coupling market rose rapidly to $X in 2022, picking up by 11% against the previous year. Over the period under review, consumption posted a noticeable expansion. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Shaft Coupling Production in Turkey

In value terms, shaft coupling production contracted sharply to $X in 2022 estimated in export price. In general, production recorded a strong increase. The most prominent rate of growth was recorded in 2015 when the production volume increased by 255% against the previous year. Shaft coupling production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Shaft Coupling Exports

Exports from Turkey

For the third consecutive year, Turkey recorded growth in overseas shipments of clutches and shaft couplings, which increased by 11% to X tons in 2022. Overall, exports posted a prominent increase. The most prominent rate of growth was recorded in 2018 when exports increased by 50% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, shaft coupling exports totaled $X in 2022. Over the period under review, total exports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +11.5% 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 +35.5% against 2020 indices. The pace of growth was the most pronounced in 2013 when exports increased by 124% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Germany (X tons), the United States (X tons) and Bulgaria (X tons) were the main destinations of shaft coupling exports from Turkey, with a combined 37% share of total exports. Russia, Italy, Saudi Arabia, Iraq, Jordan, Qatar, the Netherlands, Iran, Azerbaijan and the United Arab Emirates lagged somewhat behind, together accounting for a further 35%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Jordan (with a CAGR of +81.1%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Russia ($X) and Germany ($X) appeared to be the largest markets for shaft coupling exported from Turkey worldwide, with a combined 48% share of total exports.

Among the main countries of destination, the United States, with a CAGR of +54.2%, 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

In 2022, the average shaft coupling export price amounted to $X per ton, shrinking by -9.3% against the previous year. Over the period under review, export price indicated pronounced growth from 2012 to 2022: its price 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, shaft coupling export price decreased by -2.2% against 2018 indices. The pace of growth appeared the most rapid in 2013 when the average export price increased by 71% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+10.7%), while the prices for the other major destinations experienced more modest paces of growth.

Shaft Coupling Imports

Imports into Turkey

In 2022, purchases abroad of clutches and shaft couplings increased by 16% to X tons, rising for the third consecutive year after three years of decline. In general, total imports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +6.6% 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 +94.1% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of 36% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in years to come.

In value terms, shaft coupling imports soared to $X in 2022. Overall, total imports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +4.7% 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 +69.4% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 27% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of shaft coupling to Turkey, accounting for a 52% share of total imports. Moreover, shaft coupling imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. Italy (X tons) ranked third in terms of total imports with an 8.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +11.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+3.0% per year) and Italy (+4.9% per year).

In value terms, Germany ($X) constituted the largest supplier of clutches and shaft couplings to Turkey, comprising 39% of total imports. The second position in the ranking was held by China ($X), with a 16% share of total imports. It was followed by Italy, with a 10% share.

From 2012 to 2022, the average annual growth rate of value from Germany totaled +1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+12.3% per year) and Italy (+6.8% per year).

Import Prices by Country

The average shaft coupling import price stood at $X per ton in 2022, growing by 2% against the previous year. Overall, the import price, however, continues to indicate a mild slump. The growth pace was the most rapid in 2018 an increase of 6.4%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, 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 the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+13.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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