Turkey: Crane Market 2024

Crane Market Size in Turkey

In 2022, after two years of growth, there was decline in the Turkish crane market, when its value decreased by -3.5% to $X. Overall, consumption, however, showed temperate growth. Crane consumption peaked at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Crane Production in Turkey

In value terms, crane production fell dramatically to $X in 2022 estimated in export price. Over the period under review, production, however, posted a strong expansion. The most prominent rate of growth was recorded in 2015 when the production volume increased by 88%. Crane production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Crane Exports

Exports from Turkey

In 2022, overseas shipments of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane decreased by -1.8% to X units, falling for the third consecutive year after three years of growth. Overall, exports, however, continue to indicate measured growth. The most prominent rate of growth was recorded in 2019 when exports increased by 80%. As a result, the exports attained the peak of X units. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, crane exports expanded remarkably to $X in 2022. In general, total exports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +2.4% 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 +16.5% against 2020 indices. The pace of growth appeared the most rapid in 2019 with an increase of 39% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Iraq (X units), Georgia (X units) and Russia (X units) were the main destinations of crane exports from Turkey, together comprising 31% of total exports. Egypt, Algeria, Uzbekistan, the United Arab Emirates, Romania, Israel, Ireland, Qatar, the Netherlands and France lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2022, the biggest increases were recorded for Ireland (with a CAGR of +86.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Iraq ($X) and Egypt ($X) were the largest markets for crane exported from Turkey worldwide, together comprising 27% of total exports. Algeria, the United Arab Emirates, Georgia, Uzbekistan, Romania, Ireland, Israel, France, Qatar and the Netherlands lagged somewhat behind, together comprising a further 38%.

Among the main countries of destination, Ireland, with a CAGR of +99.1%, recorded the highest rates of growth with regard to 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 crane export price stood at $X per unit in 2022, picking up by 16% against the previous year. Overall, the export price, however, showed a slight slump. Over the period under review, the average export prices attained the peak figure at $X per unit in 2015; however, from 2016 to 2022, 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 Russia ($X per unit), while the average price for exports to Georgia ($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 Ireland (+7.9%), while the prices for the other major destinations experienced more modest paces of growth.

Crane Imports

Imports into Turkey

In 2022, after two years of growth, there was significant decline in supplies from abroad of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane, when their volume decreased by -21.5% to X units. Over the period under review, imports recorded a pronounced contraction. The most prominent rate of growth was recorded in 2020 when imports increased by 125% against the previous year. Over the period under review, imports hit record highs at X units in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, crane imports shrank slightly to $X in 2022. In general, imports showed a pronounced curtailment. The most prominent rate of growth was recorded in 2020 when imports increased by 117%. Over the period under review, imports attained the peak figure at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

China (X units), Germany (X units) and Poland (X units) were the main suppliers of crane imports to Turkey, with a combined 75% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +62.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), China ($X) and Poland ($X) appeared to be the largest crane suppliers to Turkey, with a combined 66% share of total imports. Italy, the Netherlands, Russia and France lagged somewhat behind, together comprising a further 18%.

Russia, with a CAGR of +107.5%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average crane import price stood at $X per unit in 2022, jumping by 22% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. Over the period under review, average import prices attained the maximum at $X per unit in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

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 Russia ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+39.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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