Turkey: Market for Instruments for Measuring Electrical Quantities 2024

Market Size for Instruments for Measuring Electrical Quantities in Turkey

The Turkish market for instruments for measuring electrical quantities soared to $X in 2021, increasing by 27% against the previous year. In general, consumption, however, showed a pronounced reduction. Instruments for measuring electrical quantities consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Instruments for Measuring Electrical Quantities in Turkey

In value terms, instruments for measuring electrical quantities production skyrocketed to $X in 2021 estimated in export price. In general, production, however, showed a deep slump. The most prominent rate of growth was recorded in 2019 when the production volume increased by 151% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Instruments for Measuring Electrical Quantities

Exports from Turkey

In 2021, the amount of instruments for measuring electrical quantities exported from Turkey shrank significantly to X units, which is down by -25.2% compared with the previous year's figure. Over the period under review, exports faced a deep contraction. The growth pace was the most rapid in 2013 when exports increased by 56%. As a result, the exports reached the peak of X units. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, instruments for measuring electrical quantities exports skyrocketed to $X in 2021. In general, exports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2017 when exports increased by 50%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Iran (X units) was the main destination for instruments for measuring electrical quantities exports from Turkey, accounting for a 11% share of total exports. Moreover, instruments for measuring electrical quantities exports to Iran exceeded the volume sent to the second major destination, Turkmenistan (X units), twofold. The third position in this ranking was taken by Pakistan (X units), with a 4.7% share.

From 2012 to 2021, the average annual growth rate of volume to Iran stood at -30.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkmenistan (-3.0% per year) and Pakistan (-1.5% per year).

In value terms, the largest markets for instruments for measuring electrical quantities exported from Turkey were Iran ($X), the United States ($X) and Azerbaijan ($X), with a combined 30% share of total exports. These countries were followed by Tunisia, Libya, Egypt, Iraq, Romania, Pakistan, Russia, Turkmenistan, Morocco and Austria, which together accounted for a further 23%.

Austria, with a CAGR of +172.0%, 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 2021, the average export price for instruments for measuring electrical quantities amounted to $X per unit, surging by 59% against the previous year. In general, the export price continues to indicate a perceptible increase. The most prominent rate of growth was recorded in 2017 when the average export price increased by 74% against the previous year. Over the period under review, the average export prices reached the peak figure in 2021 and is expected to retain growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per unit), while the average price for exports to Turkmenistan ($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 Romania (+14.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Instruments for Measuring Electrical Quantities

Imports into Turkey

In 2021, supplies from abroad of instruments for measuring electrical quantities increased by 55% to X units, rising for the second consecutive year after two years of decline. Over the period under review, imports recorded a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, instruments for measuring electrical quantities imports amounted to $X in 2021. The total import value increased at an average annual rate of +3.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 26%. Over the period under review, imports hit record highs 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 supplier of instruments for measuring electrical quantities to Turkey, with a 38% share of total imports. Moreover, instruments for measuring electrical quantities imports from China exceeded the figures recorded by the second-largest supplier, Romania (X units), threefold. Germany (X units) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +10.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (+59.1% per year) and Germany (+16.3% per year).

In value terms, the largest instruments for measuring electrical quantities suppliers to Turkey were China ($X), Germany ($X) and Hungary ($X), with a combined 47% share of total imports. These countries were followed by Romania, the United States, France, South Korea, Spain, Italy, Taiwan (Chinese), Slovenia, India and Japan, which together accounted for a further 34%.

Among the main suppliers, South Korea, with a CAGR of +52.2%, 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

In 2021, the average import price for instruments for measuring electrical quantities amounted to $X per unit, declining by -30.2% against the previous year. In general, the import price showed a deep downturn. The most prominent rate of growth was recorded in 2014 when the average import price increased by 18%. Over the period under review, average import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Hungary ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (-1.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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