Turkey: Needle Roller Bearing Market 2024

Needle Roller Bearing Market Size in Turkey

The Turkish needle roller bearing market skyrocketed to $X in 2021, picking up by 37% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +29.5% against 2018 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Needle Roller Bearing Exports

Exports from Turkey

In 2021, needle roller bearing exports from Turkey soared to X tons, rising by 72% compared with 2020. Over the period under review, total exports indicated mild growth from 2012 to 2021: its volume increased at an average annual rate of +1.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, needle roller bearing exports skyrocketed to $X in 2021. Overall, exports, however, showed a relatively flat trend pattern. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Georgia (X tons), Azerbaijan (X tons) and Iraq (X tons) were the main destinations of needle roller bearing exports from Turkey, together accounting for 26% of total exports. These countries were followed by Russia, Germany, Ukraine, Iran, Jordan, North Macedonia, Tunisia, Tajikistan, Thailand and Greece, which together accounted for a further 40%.

From 2012 to 2021, the biggest increases were in Thailand (with a CAGR of +222.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for needle roller bearing exported from Turkey were Germany ($X), Ukraine ($X) and Azerbaijan ($X), together accounting for 32% of total exports. Georgia, Russia, Iran, North Macedonia, Iraq, Thailand, Jordan, Tunisia, Greece and Tajikistan lagged somewhat behind, together comprising a further 29%.

Thailand, with a CAGR of +206.8%, 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

The average needle roller bearing export price stood at $X per ton in 2021, rising by 4.5% against the previous year. Over the period under review, the export price, however, saw a slight decline. The pace of growth appeared the most rapid in 2017 when the average export price increased by 65% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Germany ($X per ton), while the average price for exports to Tajikistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Iran (+13.4%), while the prices for the other major destinations experienced more modest paces of growth.

Needle Roller Bearing Imports

Imports into Turkey

In 2021, the amount of needle roller bearings imported into Turkey soared to X tons, surging by 33% compared with 2020. Overall, imports continue to indicate strong growth. The pace of growth was the most pronounced in 2018 with an increase of 35%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, needle roller bearing imports skyrocketed to $X in 2021. Over the period under review, total imports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +28.7% against 2018 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany (X tons), China (X tons) and the United States (X tons) were the main suppliers of needle roller bearing imports to Turkey, together comprising 88% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +17.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of needle roller bearing to Turkey, comprising 50% of total imports. The second position in the ranking was held by China ($X), with an 18% share of total imports. It was followed by the United States, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from Germany stood at +7.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+2.9% per year) and the United States (+14.1% per year).

Import Prices by Country

In 2021, the average needle roller bearing import price amounted to $X per ton, picking up by 5% against the previous year. Over the period under review, the import price, however, showed a perceptible decline. The most prominent rate of growth was recorded in 2013 an increase of 20%. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+2.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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