Turkey: Wood Drilling Machine Market 2024

Wood Drilling Machine Market Size in Turkey

The Turkish wood drilling machine market expanded rapidly to $X in 2021, increasing by 5.4% against the previous year. In general, consumption showed strong growth. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Wood Drilling Machine Production in Turkey

In value terms, wood drilling machine production expanded remarkably to $X in 2021 estimated in export price. In general, production showed strong growth. The most prominent rate of growth was recorded in 2016 when the production volume increased by 73%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Wood Drilling Machine Exports

Exports from Turkey

In 2021, overseas shipments of drilling or morticing machines were finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. In general, exports recorded strong growth. The most prominent rate of growth was recorded in 2018 with an increase of 76% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, wood drilling machine exports soared to $X in 2021. Over the period under review, exports saw a perceptible increase. The most prominent rate of growth was recorded in 2017 with an increase of 64%. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Iraq (X units), Austria (X units) and Libya (X units) were the main destinations of wood drilling machine exports from Turkey, with a combined 43% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Austria (with a CAGR of +102.1%), while the other leaders experienced more modest paces of growth.

In value terms, Serbia ($X), Iraq ($X) and Algeria ($X) were the largest markets for wood drilling machine exported from Turkey worldwide, with a combined 19% share of total exports. Russia, Libya, Bulgaria, Poland, Ukraine, Austria, Egypt, Morocco, Uzbekistan and Vietnam lagged somewhat behind, together accounting for a further 32%.

Poland, with a CAGR of +60.8%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average wood drilling machine export price stood at $X per unit in 2021, shrinking by -11.1% against the previous year. In general, the export price showed a noticeable contraction. The most prominent rate of growth was recorded in 2015 when the average export price increased by 58%. As a result, the export price attained the peak level of $X per unit. From 2016 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Serbia ($X per unit), while the average price for exports to Vietnam ($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 Egypt (+10.2%), while the prices for the other major destinations experienced more modest paces of growth.

Wood Drilling Machine Imports

Imports into Turkey

For the third year in a row, Turkey recorded growth in purchases abroad of drilling or morticing machines, which increased by 79% to X units in 2021. Over the period under review, imports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 166%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, wood drilling machine imports surged to $X in 2021. Overall, imports showed a tangible increase. Imports peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) was the main supplier of wood drilling machine to Turkey, accounting for a 96% share of total imports. It was followed by Taiwan (Chinese) (X units), with a 2.1% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +48.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+48.4% per year) and Italy (-6.5% per year).

In value terms, Italy ($X), China ($X) and Taiwan (Chinese) ($X) were the largest wood drilling machine suppliers to Turkey, with a combined 87% share of total imports.

In terms of the main suppliers, China, with a CAGR of +18.4%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average wood drilling machine import price stood at $X per unit in 2021, picking up by 17% against the previous year. Overall, the import price, however, recorded a precipitous decrease. The most prominent rate of growth was recorded in 2013 an increase of 38%. As a result, import price attained the peak level of $X per unit. From 2014 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Italy ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+10.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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