Turkey: Market for Machines For Balancing Mechanical Parts 2024

Market Size for Machines For Balancing Mechanical Parts in Turkey

The Turkish balancing mechanical parts machine market was finally on the rise to reach $X in 2021, after three years of decline. In general, the total consumption indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +2.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Production of Machines For Balancing Mechanical Parts in Turkey

In value terms, balancing mechanical parts machine production reached $X in 2021 estimated in export price. Overall, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by 46% against the previous year. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Exports of Machines For Balancing Mechanical Parts

Exports from Turkey

In 2021, shipments abroad of machines for balancing mechanical parts decreased by -29.5% to X units, falling for the fourth year in a row after four years of growth. In general, exports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2017 when exports increased by 168% against the previous year. As a result, the exports attained the peak of X units. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, balancing mechanical parts machine exports reduced to $X in 2021. Over the period under review, exports continue to indicate a deep reduction. The growth pace was the most rapid in 2017 when exports increased by 117% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Germany (X units) was the main destination for balancing mechanical parts machine exports from Turkey, with a 25% share of total exports. Moreover, balancing mechanical parts machine exports to Germany exceeded the volume sent to the second major destination, Egypt (X units), threefold. Romania (X units) ranked third in terms of total exports with a 7.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany amounted to +102.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (+2.5% per year) and Romania (-5.7% per year).

In value terms, Germany ($X) emerged as the key foreign market for machines for balancing mechanical parts exports from Turkey, comprising 30% of total exports. The second position in the ranking was taken by Azerbaijan ($X), with an 8.8% share of total exports. It was followed by Belgium, with a 5.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany amounted to +98.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Azerbaijan (-9.5% per year) and Belgium (+32.0% per year).

Export Prices by Country

The average balancing mechanical parts machine export price stood at $X per unit in 2021, picking up by 30% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 37% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Azerbaijan ($X per unit), while the average price for exports to Poland ($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 Azerbaijan (+10.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machines For Balancing Mechanical Parts

Imports into Turkey

In 2021, supplies from abroad of machines for balancing mechanical parts increased by 68% to X units for the first time since 2017, thus ending a three-year declining trend. Over the period under review, total imports indicated a temperate expansion from 2012 to 2021: its volume increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at X units in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, balancing mechanical parts machine imports soared to $X in 2021. Overall, imports, however, saw a relatively flat trend pattern. Imports peaked at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

Germany (X units), China (X units) and Italy (X units) were the main suppliers of balancing mechanical parts machine imports to Turkey, together comprising 62% of total imports. Spain, the United States, Russia and Poland lagged somewhat behind, together comprising a further 31%.

From 2012 to 2021, the biggest increases were recorded for Spain (with a CAGR of +73.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest balancing mechanical parts machine suppliers to Turkey were Germany ($X), Italy ($X) and the United States ($X), with a combined 74% share of total imports. Spain, China, Poland and Russia lagged somewhat behind, together comprising a further 19%.

Spain, with a CAGR of +54.4%, recorded the highest rates of growth with regard to 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 balancing mechanical parts machine import price stood at $X per unit in 2021, growing by 24% against the previous year. Overall, the import price, however, showed a perceptible slump. The growth pace was the most rapid in 2018 when the average import price increased by 37%. As a result, import price reached the peak level of $X per unit. From 2019 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+3.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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