Turkey: Flywheels And Pulleys Market 2024

Flywheels And Pulleys Market Size in Turkey

For the sixth consecutive year, the Turkish flywheels and pulleys market recorded growth in sales value, which increased by 7.3% to $X in 2021. Over the period under review, consumption saw prominent growth. Flywheels and pulleys consumption peaked in 2021 and is expected to retain growth in the immediate term.

Flywheels And Pulleys Production in Turkey

In value terms, flywheels and pulleys production soared to $X in 2021 estimated in export price. Overall, production enjoyed a significant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 181%. Flywheels and pulleys production peaked in 2021 and is expected to retain growth in the near future.

Flywheels And Pulleys Exports

Exports from Turkey

In 2021, overseas shipments of flywheels and pulleys were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports saw a prominent increase. The pace of growth appeared the most rapid in 2015 with an increase of 203% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, flywheels and pulleys exports skyrocketed to $X in 2021. In general, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2015 when exports increased by 222% against the previous year. The exports peaked in 2021 and are likely to continue growth in the near future.

Exports by Country

Poland (X tons), Germany (X tons) and France (X tons) were the main destinations of flywheels and pulleys exports from Turkey, with a combined 49% share of total exports. Tunisia, Romania, Italy, Spain, Belgium, Mexico and the UK lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mexico (with a CAGR of +181.8%), while the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), France ($X) and Germany ($X) were the largest markets for flywheels and pulleys exported from Turkey worldwide, with a combined 57% share of total exports. These countries were followed by Belgium, Italy, Romania, Spain, the UK, Mexico and Tunisia, which together accounted for a further 27%.

Among the main countries of destination, Mexico, with a CAGR of +185.3%, saw 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

In 2021, the average flywheels and pulleys export price amounted to $X per ton, growing by 11% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.0%. The pace of growth was the most pronounced in 2016 an increase of 13% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is likely to continue growth in years to come.

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 Belgium ($X per ton), while the average price for exports to Tunisia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Romania (+11.0%), while the prices for the other major destinations experienced more modest paces of growth.

Flywheels And Pulleys Imports

Imports into Turkey

In 2021, purchases abroad of flywheels and pulleys decreased by -10.6% to X tons for the first time since 2011, thus ending a nine-year rising trend. In general, imports, however, continue to indicate a remarkable increase. The growth pace was the most rapid in 2015 when imports increased by 49% against the previous year. Imports peaked at X tons in 2020, and then dropped in the following year.

In value terms, flywheels and pulleys imports reduced to $X in 2021. Over the period under review, total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +5.0% against 2017 indices. The pace of growth was the most pronounced in 2020 with an increase of 20%. As a result, imports reached the peak of $X, and then dropped in the following year.

Imports by Country

China (X tons), Italy (X tons) and Germany (X tons) were the main suppliers of flywheels and pulleys imports to Turkey, together accounting for 76% of total imports. These countries were followed by Hungary, France, South Korea, Slovakia, Poland, Canada, Spain and the Czech Republic, which together accounted for a further 17%.

From 2012 to 2021, the biggest increases were recorded for Hungary (with a CAGR of +27.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), China ($X) and Italy ($X) constituted the largest flywheels and pulleys suppliers to Turkey, together accounting for 59% of total imports. France, Hungary, Slovakia, Poland, Canada, South Korea, the Czech Republic and Spain lagged somewhat behind, together comprising a further 28%.

In terms of the main suppliers, Poland, with a CAGR of +30.0%, 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 more modest paces of growth.

Import Prices by Country

In 2021, the average flywheels and pulleys import price amounted to $X per ton, increasing by 2.6% against the previous year. Over the period under review, the import price, however, recorded a noticeable decline. The growth pace was the most rapid in 2020 when the average import price increased by 9.9% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat 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 Canada ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+9.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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