Turkey: Oil Dispensing Pump Market 2024

Oil Dispensing Pump Market Size in Turkey

The Turkish oil dispensing pump market reduced dramatically to $X in 2021, which is down by -27.7% against the previous year. Over the period under review, the total consumption indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.4% 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 2020, and then reduced rapidly in the following year.

Oil Dispensing Pump Production in Turkey

In value terms, oil dispensing pump production fell slightly to $X in 2021 estimated in export price. Over the period under review, the total production indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +7.3% 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 +88.3% against 2012 indices. The pace of growth was the most pronounced in 2013 with an increase of 40% against the previous year. Over the period under review, production attained the maximum level at $X in 2020, and then reduced slightly in the following year.

Oil Dispensing Pump Exports

Exports from Turkey

In 2021, the amount of petrol and oil dispensing pumps exported from Turkey skyrocketed to X units, growing by 246% on the previous year's figure. In general, exports saw significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, oil dispensing pump exports skyrocketed to $X in 2021. Over the period under review, exports posted a remarkable increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Azerbaijan (X units), Germany (X units) and Brazil (X units) were the main destinations of oil dispensing pump exports from Turkey, together comprising 36% of total exports. Italy, Ghana, Bangladesh, Iran, Dominica, Georgia, North Macedonia, Morocco, Thailand and Iraq lagged somewhat behind, together comprising a further 36%.

From 2012 to 2021, the biggest increases were recorded for North Macedonia (with a CAGR of +318.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Bangladesh ($X), Ghana ($X) and Thailand ($X) appeared to be the largest markets for oil dispensing pump exported from Turkey worldwide, together accounting for 26% of total exports. These countries were followed by Germany, Georgia, Azerbaijan, Morocco, North Macedonia, Iraq, Italy, Iran, Brazil and Dominica, which together accounted for a further 28%.

Morocco, with a CAGR of +261.5%, recorded 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

In 2021, the average oil dispensing pump export price amounted to $X per unit, falling by -36.7% against the previous year. Overall, the export price recorded a abrupt setback. The pace of growth appeared the most rapid in 2016 when the average export price increased by 32% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Bangladesh ($X per unit), while the average price for exports to Dominica ($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 Morocco (+15.6%), while the prices for the other major destinations experienced a decline.

Oil Dispensing Pump Imports

Imports into Turkey

In 2021, purchases abroad of petrol and oil dispensing pumps increased by 75% to X units, rising for the second year in a row after two years of decline. Over the period under review, imports continue to indicate buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, oil dispensing pump imports skyrocketed to $X in 2021. Overall, total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +7.1% 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 +90.9% against 2019 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 60%. Imports peaked in 2021 and are likely to continue growth in years to come.

Imports by Country

In 2021, China (X units) constituted the largest oil dispensing pump supplier to Turkey, accounting for a 57% share of total imports. Moreover, oil dispensing pump imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), threefold. The third position in this ranking was held by the United States (X units), with a 14% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +27.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-1.1% per year) and the United States (+15.5% per year).

In value terms, Germany ($X) constituted the largest supplier of petrol and oil dispensing pumps to Turkey, comprising 53% of total imports. The second position in the ranking was held by the United States ($X), with a 19% share of total imports. It was followed by China, with a 7.7% share.

From 2012 to 2021, the average annual growth rate of value from Germany amounted to +8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+13.0% per year) and China (+21.3% per year).

Import Prices by Country

The average oil dispensing pump import price stood at $X per unit in 2021, with a decrease of -31.8% against the previous year. In general, the import price continues to indicate a pronounced descent. The pace of growth appeared the most rapid in 2014 an increase of 54% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+8.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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