Turkey: Multimeter Market 2025

Multimeter Market Size in Turkey

In 2022, after two years of growth, there was decline in the Turkish multimeter market, when its value decreased by -2.2% to $X. Over the period under review, consumption, however, continues to indicate a buoyant increase. Multimeter consumption peaked at $X in 2021, and then contracted slightly in the following year.

Multimeter Exports

Exports from Turkey

Multimeter exports from Turkey surged to X units in 2022, jumping by 46% against the previous year's figure. Overall, total exports indicated a slight increase from 2012 to 2022: its volume increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the exports reached the peak figure at X units in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, multimeter exports soared to $X in 2022. Over the period under review, exports, however, recorded a relatively flat trend pattern. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Iraq (X units), Azerbaijan (X units) and Serbia (X units) were the main destinations of multimeter exports from Turkey, with a combined 34% share of total exports. Turkmenistan, Nigeria, Iran, Russia, Germany, Israel, Greece, Syrian Arab Republic, the United Arab Emirates and Taiwan (Chinese) lagged somewhat behind, together comprising a further 31%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Taiwan (Chinese) (with a CAGR of +47.6%), while the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Taiwan (Chinese) ($X) and Iraq ($X) appeared to be the largest markets for multimeter exported from Turkey worldwide, with a combined 34% share of total exports.

Taiwan (Chinese), with a CAGR of +63.5%, recorded the highest rates of growth with regard to the value of exports, among 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 2022, the average multimeter export price amounted to $X per unit, picking up by 18% against the previous year. In general, the export price, however, saw a perceptible reduction. Over the period under review, the average export prices attained the maximum at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per unit), while the average price for exports to Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+10.9%), while the prices for the other major destinations experienced more modest paces of growth.

Multimeter Imports

Imports into Turkey

For the third consecutive year, Turkey recorded growth in overseas purchases of multimeters, which increased by 0.5% to X units in 2022. Overall, imports posted a buoyant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 98%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, multimeter imports rose slightly to $X in 2022. Over the period under review, imports recorded a moderate increase. The growth pace was the most rapid in 2020 when imports increased by 117%. Imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, China (X units) constituted the largest multimeter supplier to Turkey, with a 49% share of total imports. Moreover, multimeter imports from China exceeded the figures recorded by the second-largest supplier, Hungary (X units), twofold. The third position in this ranking was taken by Romania (X units), with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (+31.1% per year) and Romania (+206.5% per year).

In value terms, the largest multimeter suppliers to Turkey were Hungary ($X), China ($X) and Germany ($X), together accounting for 65% of total imports. Romania, the United States, Austria, Italy, France and Tunisia lagged somewhat behind, together accounting for a further 27%.

Romania, with a CAGR of +221.2%, recorded the highest growth rate of the value of imports, in terms of 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 multimeter import price stood at $X per unit in 2022, picking up by 2.9% against the previous year. Over the period under review, the import price, however, continues to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2019 an increase of 12%. Over the period under review, average import prices hit record highs at $X per unit in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Tunisia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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