Turkey: Working Wire Machine Market 2024

Working Wire Machine Market Size in Turkey

In 2021, the Turkish working wire machine market decreased by -10.1% to $X for the first time since 2018, thus ending a two-year rising trend. In general, consumption saw a prominent increase. As a result, consumption attained the peak level of $X, and then declined in the following year.

Working Wire Machine Production in Turkey

In value terms, working wire machine production soared to $X in 2021 estimated in export price. Overall, production, however, posted significant growth. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Working Wire Machine Exports

Exports from Turkey

Working wire machine exports from Turkey expanded modestly to X units in 2021, surging by 2.4% against the year before. Over the period under review, exports continue to indicate a strong increase. The pace of growth appeared the most rapid in 2020 when exports increased by 86% against the previous year. The exports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, working wire machine exports soared to $X in 2021. Overall, exports posted a buoyant increase. The pace of growth appeared the most rapid in 2016 with an increase of 72% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Germany (X units), Iraq (X units) and Romania (X units) were the main destinations of working wire machine exports from Turkey, together comprising 19% of total exports. These countries were followed by Ukraine, Kenya, Albania, Serbia, India, Iran, Kuwait, Uzbekistan, Italy and Argentina, which together accounted for a further 35%.

From 2012 to 2021, the biggest increases were recorded for Albania (with a CAGR of +73.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for working wire machine exported from Turkey were Ukraine ($X), Romania ($X) and Germany ($X), together comprising 19% of total exports. Italy, India, Kenya, Serbia, Argentina, Uzbekistan, Albania, Iraq, Iran and Kuwait lagged somewhat behind, together comprising a further 29%.

In terms of the main countries of destination, Albania, with a CAGR of +156.5%, 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 working wire machine export price amounted to $X per unit, surging by 21% against the previous year. Over the period under review, the export price, however, recorded a deep reduction. The growth pace was the most rapid in 2016 when the average export price increased by 46%. As a result, the export price reached the peak level of $X per unit. From 2017 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Ukraine ($X per unit), while the average price for exports to Iraq ($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 Albania (+50.9%), while the prices for the other major destinations experienced more modest paces of growth.

Working Wire Machine Imports

Imports into Turkey

In 2021, working wire machine imports into Turkey skyrocketed to X units, growing by 89% on 2020 figures. In general, imports enjoyed a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, working wire machine imports skyrocketed to $X in 2021. Overall, imports posted buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest supplier of working wire machine to Turkey, accounting for a 71% share of total imports. Moreover, working wire machine imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), threefold. Germany (X units) ranked third in terms of total imports with a 1.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +28.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+24.0% per year) and Germany (-4.6% per year).

In value terms, China ($X) constituted the largest supplier of machines for working wire to Turkey, comprising 61% of total imports. The second position in the ranking was taken by Italy ($X), with a 23% share of total imports. It was followed by Germany, with a 6.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +21.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+25.8% per year) and Germany (-5.8% per year).

Import Prices by Country

In 2021, the average working wire machine import price amounted to $X per unit, reducing by -19.5% against the previous year. Over the period under review, the import price showed a abrupt setback. The pace of growth was the most pronounced in 2019 an increase of 16% against the previous year. The import price peaked 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, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for the UK ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+1.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :