Turkey: Market for Grinding And Sharpening Metal Finishing Machines 2024

Market Size for Grinding And Sharpening Metal Finishing Machines in Turkey

The Turkish grinding and sharpening machine market expanded rapidly to $X in 2022, with an increase of 11% against the previous year. Over the period under review, consumption continues to indicate a resilient increase. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Production of Grinding And Sharpening Metal Finishing Machines in Turkey

In value terms, grinding and sharpening machine production amounted to $X in 2022 estimated in export price. Over the period under review, production saw buoyant growth. The most prominent rate of growth was recorded in 2018 with an increase of 78% against the previous year. Grinding and sharpening machine production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Grinding And Sharpening Metal Finishing Machines

Exports from Turkey

In 2022, approx. X units of grinding and sharpening metal finishing machines were exported from Turkey; surging by 7.2% on the previous year's figure. Overall, exports recorded buoyant growth. The pace of growth was the most pronounced in 2014 with an increase of 90% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in the immediate term.

In value terms, grinding and sharpening machine exports surged to $X in 2022. Over the period under review, total exports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.4% 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 +110.3% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Sudan (X units), France (X units) and Turkmenistan (X units) were the main destinations of grinding and sharpening machine exports from Turkey, with a combined 22% share of total exports. Russia, Romania, the United Arab Emirates, Germany, Iran, the United States, Iraq, Georgia, the UK and Azerbaijan lagged somewhat behind, together comprising a further 37%.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +43.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), the United States ($X) and the UK ($X) were the largest markets for grinding and sharpening machine exported from Turkey worldwide, with a combined 38% share of total exports.

The UK, with a CAGR of +69.6%, saw the highest rates of growth with regard to 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

The average grinding and sharpening machine export price stood at $X per unit in 2022, with an increase of 43% against the previous year. Over the period under review, the export price, however, showed a perceptible curtailment. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Sudan ($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 the UK (+18.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Grinding And Sharpening Metal Finishing Machines

Imports into Turkey

In 2022, supplies from abroad of grinding and sharpening metal finishing machines increased by 34% to X units, rising for the third year in a row after two years of decline. Over the period under review, imports continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 103% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, grinding and sharpening machine imports surged to $X in 2022. Overall, imports, however, showed a deep downturn. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) was the main grinding and sharpening machine supplier to Turkey, accounting for a 97% share of total imports. It was followed by Taiwan (Chinese) (X units), with a 1.2% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +22.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-7.3% per year) and Germany (-11.2% per year).

In value terms, the largest grinding and sharpening machine suppliers to Turkey were Germany ($X), China ($X) and Taiwan (Chinese) ($X), together comprising 43% of total imports.

China, with a CAGR of +5.8%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average grinding and sharpening machine import price amounted to $X per unit, shrinking by -1.7% against the previous year. Overall, the import price continues to indicate a sharp setback. The pace of growth was the most pronounced in 2019 when the average import price increased by 60%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+4.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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