Turkey: Electric Heating Equipment Market 2024

Electric Heating Equipment Market Size in Turkey

In 2022, after two years of growth, there was significant decline in the Turkish electric heating equipment market, when its value decreased by -51.4% to $X. Over the period under review, consumption, however, showed a strong expansion. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Electric Heating Equipment Production in Turkey

In value terms, electric heating equipment production declined notably to $X in 2022 estimated in export price. Overall, production, however, continues to indicate buoyant growth. The most prominent rate of growth was recorded in 2021 when the production volume increased by 116% against the previous year. Electric heating equipment production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Electric Heating Equipment Exports

Exports from Turkey

In 2022, shipments abroad of electric space heating apparatus and soil heating apparatus increased by 44% to X units, rising for the fifth consecutive year after five years of decline. In general, exports continue to indicate a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, electric heating equipment exports soared to $X in 2022. Over the period under review, total exports indicated a measured expansion from 2012 to 2022: its value 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 +106.3% against 2016 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 37% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in years to come.

Exports by Country

Germany (X units), Egypt (X units) and France (X units) were the main destinations of electric heating equipment exports from Turkey, with a combined 27% share of total exports. Ukraine, Libya, Algeria, the UK, Iraq, Israel, Italy, Georgia, Saudi Arabia and Greece lagged somewhat behind, together accounting for a further 42%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Italy (with a CAGR of +33.6%), while the other leaders experienced more modest paces of growth.

In value terms, France ($X) remains the key foreign market for electric space heating apparatus and soil heating apparatus exports from Turkey, comprising 36% of total exports. The second position in the ranking was taken by Germany ($X), with a 14% share of total exports. It was followed by the UK, with a 5.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to France totaled +10.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+32.3% per year) and the UK (+6.6% per year).

Export Prices by Country

The average electric heating equipment export price stood at $X per unit in 2022, falling by -20.3% against the previous year. In general, export price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when the average export price increased by 22% against the previous year. The export price peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per unit), while the average price for exports to Egypt ($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 (+8.3%), while the prices for the other major destinations experienced mixed trend patterns.

Electric Heating Equipment Imports

Imports into Turkey

In 2022, overseas purchases of electric space heating apparatus and soil heating apparatus increased by 5.8% to X units, rising for the third consecutive year after two years of decline. Overall, imports, however, continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2021 with an increase of 55%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, electric heating equipment imports rose markedly to $X in 2022. In general, imports, however, saw a pronounced setback. The growth pace was the most rapid in 2020 with an increase of 31%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest electric heating equipment supplier to Turkey, accounting for a 74% share of total imports. Moreover, electric heating equipment imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), sevenfold. The UK (X units) ranked third in terms of total imports with a 3.3% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to -9.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+2.5% per year) and the UK (+13.5% per year).

In value terms, China ($X) constituted the largest supplier of electric space heating apparatus and soil heating apparatus to Turkey, comprising 42% of total imports. The second position in the ranking was held by Germany ($X), with a 16% share of total imports. It was followed by Malaysia, with a 7.2% share.

From 2012 to 2022, the average annual growth rate of value from China totaled -6.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+8.2% per year) and Malaysia (+38.7% per year).

Import Prices by Country

In 2022, the average electric heating equipment import price amounted to $X per unit, picking up by 8.5% against the previous year. Over the period under review, the import price saw a buoyant increase. The most prominent rate of growth was recorded in 2019 when the average import price increased by 47%. The import price peaked at $X per unit in 2020; however, from 2021 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 Germany ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+24.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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