Turkey: Measuring Instrument Market 2022

Measuring Instrument Market Size in Turkey

In 2021, after three years of decline, there was significant growth in the Turkish measuring instrument market, when its value increased by 78% to $X. In general, consumption, however, showed a relatively flat trend pattern. Measuring instrument consumption peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Measuring Instrument Production in Turkey

In value terms, measuring instrument production rose rapidly to $X in 2021 estimated in export price. Over the period under review, production posted a resilient expansion. The most prominent rate of growth was recorded in 2018 with an increase of 238%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Measuring Instrument Exports

Exports from Turkey

In 2021, exports of instruments and apparatus for measuring or checking the flow or level of liquids from Turkey skyrocketed to X units, rising by 30% against the previous year's figure. Overall, exports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2018 with an increase of 88%. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in the immediate term.

In value terms, measuring instrument exports shrank to $X in 2021. Over the period under review, exports showed a prominent increase. The pace of growth was the most pronounced in 2014 when exports increased by 43% against the previous year. Over the period under review, the exports attained the maximum at $X in 2020, and then dropped modestly in the following year.

Exports by Country

The United Arab Emirates (X units) was the main destination for measuring instrument exports from Turkey, with a 28% share of total exports. Moreover, measuring instrument exports to the United Arab Emirates exceeded the volume sent to the second major destination, Spain (X units), threefold. Russia (X units) ranked third in terms of total exports with a 5.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United Arab Emirates stood at +40.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+80.9% per year) and Russia (+22.9% per year).

In value terms, the largest markets for measuring instrument exported from Turkey were Germany ($X), Iran ($X) and the United Arab Emirates ($X), together comprising 16% of total exports. These countries were followed by France, Russia, the UK, Italy, Kazakhstan, Egypt, Ukraine, Spain, Poland and Algeria, which together accounted for a further 27%.

Among the main countries of destination, Spain, with a CAGR of +45.2%, recorded the highest growth rate of 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 measuring instrument export price amounted to $X per unit, shrinking by -23.7% against the previous year. Overall, the export price showed a noticeable slump. The growth pace was the most rapid in 2014 when the average export price increased by 22% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Iran ($X per unit), while the average price for exports to the United Arab Emirates ($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 Poland (+13.2%), while the prices for the other major destinations experienced more modest paces of growth.

Measuring Instrument Imports

Imports into Turkey

Measuring instrument imports into Turkey surged to X units in 2021, increasing by 67% compared with 2020 figures. Over the period under review, total imports indicated pronounced growth from 2012 to 2021: its volume increased at an average annual rate of +3.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, measuring instrument imports surged to $X in 2021. The total import value increased at an average annual rate of +2.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest measuring instrument supplier to Turkey, with a 42% share of total imports. Moreover, measuring instrument imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), twofold. Germany (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 China stood at +19.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+8.1% per year) and Germany (+1.1% per year).

In value terms, the largest measuring instrument suppliers to Turkey were Germany ($X), China ($X) and France ($X), with a combined 44% share of total imports. These countries were followed by the UK, Italy, India, Poland, Japan and Spain, which together accounted for a further 18%.

India, with a CAGR of +23.5%, recorded 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 more modest paces of growth.

Import Prices by Country

The average measuring instrument import price stood at $X per unit in 2021, which is down by -10.3% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 33% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably country of origin: 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 2021, the most notable rate of growth in terms of prices was attained by Japan (+15.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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