Turkey: Market for Machine Tools For Working Metal 2024

Market Size for Machine Tools For Working Metal in Turkey

In 2021, the Turkish machine-tool for working metal market decreased by -69.2% to $X for the first time since 2017, thus ending a three-year rising trend. Over the period under review, consumption saw a abrupt descent. As a result, consumption reached the peak level of $X, and then fell significantly in the following year.

Production of Machine Tools For Working Metal in Turkey

In value terms, machine-tool for working metal production dropped modestly to $X in 2021 estimated in export price. Over the period under review, the total production indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +98.9% against 2015 indices. The pace of growth was the most pronounced in 2019 when the production volume increased by 38% against the previous year. Over the period under review, production attained the peak level at $X in 2020, and then fell modestly in the following year.

Exports of Machine Tools For Working Metal

Exports from Turkey

In 2021, shipments abroad of machine tools for working metal increased by 114% to X units, rising for the fifth year in a row after four years of decline. Over the period under review, exports continue to indicate significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, machine-tool for working metal exports soared to $X in 2021. Overall, exports recorded a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Russia (X units) was the main destination for machine-tool for working metal exports from Turkey, with a 33% share of total exports. Moreover, machine-tool for working metal exports to Russia exceeded the volume sent to the second major destination, Germany (X units), fourfold. Bulgaria (X units) ranked third in terms of total exports with a 7.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Russia amounted to +30.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+22.4% per year) and Bulgaria (+41.1% per year).

In value terms, Russia ($X), the United States ($X) and Germany ($X) constituted the largest markets for machine-tool for working metal exported from Turkey worldwide, with a combined 22% share of total exports. These countries were followed by Poland, Italy, France, the UK, Israel, Uzbekistan, Egypt, Ukraine, Bulgaria and Iraq, which together accounted for a further 30%.

In terms of the main countries of destination, Italy, with a CAGR of +41.9%, saw the highest rates of growth with regard to 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

The average machine-tool for working metal export price stood at $X per unit in 2021, waning by -4.3% against the previous year. Over the period under review, the export price faced a abrupt setback. The most prominent rate of growth was recorded in 2015 when the average export price increased by 9.6%. Over the period under review, the average export prices hit record highs at $X per unit in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Italy ($X per unit), while the average price for exports to Bulgaria ($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 Italy (+1.2%), while the prices for the other major destinations experienced a decline.

Imports of Machine Tools For Working Metal

Imports into Turkey

In 2021, machine-tool for working metal imports into Turkey surged to X units, picking up by 94% against the previous year. Over the period under review, imports recorded buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, machine-tool for working metal imports surged to $X in 2021. Overall, imports, however, saw a slight descent. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest machine-tool for working metal supplier to Turkey, accounting for a 45% share of total imports. Moreover, machine-tool for working metal imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), threefold. Germany (X units) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +15.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+24.8% per year) and Germany (+15.9% per year).

In value terms, the largest machine-tool for working metal suppliers to Turkey were Italy ($X), Germany ($X) and China ($X), with a combined 57% share of total imports. These countries were followed by Spain, South Korea, Taiwan (Chinese), the United States and France, which together accounted for a further 30%.

In terms of the main suppliers, the United States, with a CAGR of +13.2%, saw the highest growth rate of 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 machine-tool for working metal import price stood at $X per unit in 2021, falling by -32.9% against the previous year. Over the period under review, the import price continues to indicate a deep contraction. The pace of growth was the most pronounced in 2020 when the average import price increased by 39%. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Spain ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :