Turkey: Gear Cutting Machine Market 2024

Gear Cutting Machine Market Size in Turkey

In 2021, the Turkish gear cutting machine market increased by 136% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption, however, recorded a drastic downturn. Gear cutting machine consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Gear Cutting Machine Production in Turkey

In value terms, gear cutting machine production rose to $X in 2021 estimated in export price. In general, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 34%. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Gear Cutting Machine Exports

Exports from Turkey

In 2021, gear cutting machine exports from Turkey contracted remarkably to X units, reducing by -23.8% against the previous year. In general, exports, however, posted buoyant growth. The pace of growth was the most pronounced in 2015 with an increase of 157% against the previous year. The exports peaked at X units in 2020, and then reduced remarkably in the following year.

In value terms, gear cutting machine exports surged to $X in 2021. Over the period under review, exports, however, recorded modest growth. The most prominent rate of growth was recorded in 2014 with an increase of 155%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Iran (X units), Iraq (X units) and the United Arab Emirates (X units) were the main destinations of gear cutting machine exports from Turkey, together comprising 47% of total exports. These countries were followed by Japan, the United States, the UK, India, Denmark, Singapore, Libya, Germany, Ireland and Serbia, which together accounted for a further 42%.

From 2012 to 2021, the biggest increases were recorded for Japan (with a CAGR of +450.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Iran ($X), the United Arab Emirates ($X) and Japan ($X) were the largest markets for gear cutting machine exported from Turkey worldwide, together comprising 36% of total exports.

Japan, with a CAGR of +1,293.5%, recorded the highest growth rate of the value of exports, in terms of 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

In 2021, the average gear cutting machine export price amounted to $X per unit, rising by 178% against the previous year. Overall, the export price, however, recorded a deep slump. The growth pace was the most rapid in 2017 an increase of 250%. As a result, the export price reached the peak level of $X per unit. From 2018 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Libya ($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 Japan (+159.4%), while the prices for the other major destinations experienced mixed trend patterns.

Gear Cutting Machine Imports

Imports into Turkey

In 2021, overseas purchases of gear cutting, gear grinding or gear finishing machines increased by 35% to X units, rising for the second consecutive year after five years of decline. In general, imports, however, recorded a mild decrease. The most prominent rate of growth was recorded in 2020 when imports increased by 134%. Imports peaked at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, gear cutting machine imports rose modestly to $X in 2021. Overall, imports saw a tangible expansion. The pace of growth was the most pronounced in 2020 when imports increased by 126% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, Germany (X units) constituted the largest gear cutting machine supplier to Turkey, with a 44% share of total imports. Moreover, gear cutting machine imports from Germany exceeded the figures recorded by the second-largest supplier, China (X units), threefold. Russia (X units) ranked third in terms of total imports with a 9.8% share.

From 2012 to 2021, the average annual growth rate of volume from Germany amounted to +2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+15.8% per year) and Russia (-0.4% per year).

In value terms, Germany ($X) constituted the largest supplier of gear cutting, gear grinding or gear finishing machines to Turkey, comprising 66% of total imports. The second position in the ranking was held by South Korea ($X), with a 9.2% share of total imports. It was followed by the United States, with a 6.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany stood at +9.4%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+2.2% per year) and the United States (+1.4% per year).

Import Prices by Country

In 2021, the average gear cutting machine import price amounted to $X per unit, falling by -22.1% against the previous year. Overall, the import price, however, showed a resilient increase. The most prominent rate of growth was recorded in 2016 when the average import price increased by 107%. Over the period under review, average import prices hit record highs at $X per unit in 2017; however, from 2018 to 2021, 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 South Korea ($X per unit), while the price for Spain ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+12.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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