Turkey: Market for Gearboxes and Speed Changers 2024

Market Size for Gearboxes and Speed Changers in Turkey

The Turkish gearboxes and speed changers market was finally on the rise to reach $X in 2022, after two years of decline. In general, consumption saw a mild expansion. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Gearboxes and Speed Changers in Turkey

In value terms, gearboxes and speed changers production dropped notably to $X in 2022 estimated in export price. Overall, production saw a strong increase. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. Gearboxes and speed changers production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Gearboxes and Speed Changers

Exports from Turkey

In 2022, approx. X tons of gearboxes and speed changers were exported from Turkey; leveling off at 2021 figures. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, gearboxes and speed changers exports expanded notably to $X in 2022. Overall, total exports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2017 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.

Exports by Country

Germany (X tons), Italy (X tons) and Russia (X tons) were the main destinations of gearboxes and speed changers exports from Turkey, together comprising X% of total exports.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Russia ($X) and Italy ($X) were the largest markets for gearboxes and speed changers exported from Turkey worldwide, together accounting for X% of total exports.

Russia, with a CAGR of X%, saw 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 2022, the average gearboxes and speed changers export price amounted to $X per ton, growing by X% against the previous year. Overall, export price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, gearboxes and speed changers export price increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2018 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Denmark ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gearboxes and Speed Changers

Imports into Turkey

In 2022, supplies from abroad of gearboxes and speed changers increased by X% to X tons, rising for the third year in a row after two years of decline. Over the period under review, total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, gearboxes and speed changers imports skyrocketed to $X in 2022. In general, total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

China (X tons), Germany (X tons) and Italy (X tons) were the main suppliers of gearboxes and speed changers imports to Turkey, together comprising X% of total imports. India, South Korea, Slovakia and Taiwan (Chinese) lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest gearboxes and speed changers suppliers to Turkey were Germany ($X), Italy ($X) and China ($X), with a combined X% share of total imports. India, South Korea, Taiwan (Chinese) and Slovakia lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, India, with a CAGR of X%, saw 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

The average gearboxes and speed changers import price stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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