Turkey: Electric Heating Resistor Market 2024

Electric Heating Resistor Market Size in Turkey

The Turkish electric heating resistor market skyrocketed to $X in 2021, with an increase of 34% against the previous year. In general, the total consumption indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +8.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +60.2% against 2019 indices. Electric heating resistor consumption peaked in 2021 and is likely to see steady growth in the immediate term.

Electric Heating Resistor Production in Turkey

In value terms, electric heating resistor production surged to $X in 2021 estimated in export price. Overall, production posted a strong increase. The most prominent rate of growth was recorded in 2018 with an increase of 76%. Electric heating resistor production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Electric Heating Resistor Exports

Exports from Turkey

For the third consecutive year, Turkey recorded growth in overseas shipments of electric heating resistors, which increased by 25% to X units in 2021. Over the period under review, total exports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +8.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +109.2% against 2012 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, electric heating resistor exports soared to $X in 2021. In general, total exports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +66.3% against 2015 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X units) was the main destination for electric heating resistor exports from Turkey, with a 52% share of total exports. Moreover, electric heating resistor exports to Germany exceeded the volume sent to the second major destination, the United States (X units), sixfold. The third position in this ranking was held by Poland (X units), with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany stood at +6.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+84.0% per year) and Poland (+27.8% per year).

In value terms, Germany ($X) remains the key foreign market for electric heating resistors exports from Turkey, comprising 49% of total exports. The second position in the ranking was taken by the United States ($X), with a 10% share of total exports. It was followed by Poland, with a 6.6% share.

From 2012 to 2021, the average annual growth rate of value to Germany stood at +3.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+73.1% per year) and Poland (+20.7% per year).

Export Prices by Country

The average electric heating resistor export price stood at $X per unit in 2021, increasing by 5.3% against the previous year. Overall, the export price, however, continues to indicate a pronounced descent. The pace of growth was the most pronounced in 2018 an increase of 6.3%. The export price peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Iran ($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 Iraq (+1.3%), while the prices for the other major destinations experienced more modest paces of growth.

Electric Heating Resistor Imports

Imports into Turkey

In 2021, overseas purchases of electric heating resistors increased by 20% to X units, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +4.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2015 when imports increased by 23% against the previous year. Imports peaked at X units in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, electric heating resistor imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +5.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest supplier of electric heating resistor to Turkey, accounting for a 42% share of total imports. Moreover, electric heating resistor imports from China exceeded the figures recorded by the second-largest supplier, Romania (X units), twofold. Spain (X units) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +8.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (+1.1% per year) and Spain (+4.4% per year).

In value terms, China ($X), Romania ($X) and Spain ($X) were the largest electric heating resistor suppliers to Turkey, with a combined 59% share of total imports. Serbia, Germany, Poland, Austria and Italy lagged somewhat behind, together accounting for a further 30%.

Serbia, with a CAGR of +163.4%, saw the highest rates of growth with regard to the value of imports, among 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 electric heating resistor import price stood at $X per unit in 2021, picking up by 3.7% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.0%. The pace of growth was the most pronounced in 2018 when the average import price increased by 18% against the previous year. Over the period under review, average import prices attained the maximum in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :