Turkey: Market for Hydraulic Cylinders And Systems 2024

Market Size for Hydraulic Cylinders And Systems in Turkey

The Turkish hydraulic cylinder and system market was estimated at $X in 2022, almost unchanged from the previous year. Overall, consumption showed a buoyant expansion. Hydraulic cylinder and system consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Hydraulic Cylinders And Systems in Turkey

In value terms, hydraulic cylinder and system production dropped sharply to $X in 2022 estimated in export price. In general, production recorded a prominent expansion. The most prominent rate of growth was recorded in 2018 when the production volume increased by 85%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Hydraulic Cylinders And Systems

Exports from Turkey

In 2022, overseas shipments of hydraulic cylinders and systems increased by 18% to X units, rising for the sixth consecutive year after two years of decline. Over the period under review, exports saw a strong expansion. The pace of growth appeared the most rapid in 2021 with an increase of 56% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, hydraulic cylinder and system exports surged to $X in 2022. Overall, exports continue to indicate resilient growth. The growth pace was the most rapid in 2021 with an increase of 59% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.

Exports by Country

Iran (X units), Germany (X units) and the Netherlands (X units) were the main destinations of hydraulic cylinder and system exports from Turkey, with a combined 38% share of total exports. Russia, Austria, Australia, Egypt, Ireland, Israel, Iraq, France, Belgium and the United States lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2022, the biggest increases were recorded for Ireland (with a CAGR of +92.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for hydraulic cylinder and system exported from Turkey were Germany ($X), the Netherlands ($X) and Iran ($X), together accounting for 35% of total exports. Russia, Austria, Australia, France, Ireland, Belgium, the United States, Israel, Egypt and Iraq lagged somewhat behind, together accounting for a further 37%.

Ireland, with a CAGR of +108.9%, recorded the highest rates of growth with regard to the value of exports, among 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 hydraulic cylinder and system export price amounted to $X per thousand units, rising by 12% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2018 when the average export price increased by 17% 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.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per thousand units), while the average price for exports to Iran ($X per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ireland (+8.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hydraulic Cylinders And Systems

Imports into Turkey

In 2022, imports of hydraulic cylinders and systems into Turkey surged to X units, increasing by 27% against the previous year's figure. Over the period under review, imports recorded significant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 70%. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

In value terms, hydraulic cylinder and system imports soared to $X in 2022. In general, imports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2013 when imports increased by 63% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in years to come.

Imports by Country

South Korea (X units), Italy (X units) and Germany (X units) were the main suppliers of hydraulic cylinder and system imports to Turkey, together accounting for 59% of total imports. Bulgaria, India, China and Poland lagged somewhat behind, together accounting for a further 31%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +71.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Italy ($X) and South Korea ($X) appeared to be the largest hydraulic cylinder and system suppliers to Turkey, together accounting for 46% of total imports. Bulgaria, China, India and Poland lagged somewhat behind, together comprising a further 19%.

In terms of the main suppliers, India, with a CAGR of +57.1%, 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

The average hydraulic cylinder and system import price stood at $X per unit in 2022, increasing by 2% against the previous year. Overall, the import price, however, recorded a noticeable setback. The pace of growth appeared the most rapid in 2019 an increase of 55% against the previous year. As a result, import price attained the peak level of $X per unit. From 2020 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bulgaria (+4.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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