Turkey: Market for Pulley Tackle And Hoists Powered By An Electric Motor 2024

Market Size for Pulley Tackle And Hoists Powered By An Electric Motor in Turkey

In 2022, the Turkish market for pulley tackle and hoists powered by an electric motor increased by 19% to $X, rising for the third year in a row after two years of decline. In general, the total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +34.7% against 2019 indices. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Production of Pulley Tackle And Hoists Powered By An Electric Motor in Turkey

In value terms, production of pulley tackle and hoists powered by an electric motor rose modestly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a significant expansion. The pace of growth was the most pronounced in 2014 with an increase of 116% against the previous year. Over the period under review, production of hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Pulley Tackle And Hoists Powered By An Electric Motor

Exports from Turkey

In 2022, the amount of pulley tackle and hoists powered by an electric motor exported from Turkey surged to X units, picking up by 80% compared with 2021 figures. In general, exports saw resilient growth. The pace of growth appeared the most rapid in 2021 with an increase of 80%. Over the period under review, the exports of attained the maximum in 2022 and are likely to see gradual growth in years to come.

In value terms, exports of pulley tackle and hoists powered by an electric motor skyrocketed to $X in 2022. Overall, exports showed a resilient expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Russia (X units) was the main destination for exports of pulley tackle and hoists powered by an electric motor from Turkey, accounting for a 54% share of total exports. Moreover, exports of pulley tackle and hoists powered by an electric motor to Russia exceeded the volume sent to the second major destination, Serbia (X units), fivefold. The third position in this ranking was held by Iran (X units), with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Russia amounted to +64.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (+54.5% per year) and Iran (+33.2% per year).

In value terms, Russia ($X) emerged as the key foreign market for pulley tackle and hoists powered by an electric motor exports from Turkey, comprising 58% of total exports. The second position in the ranking was taken by Iran ($X), with a 9% share of total exports. It was followed by Romania, with a 3.1% share.

From 2012 to 2022, the average annual growth rate of value to Russia stood at +51.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (+37.0% per year) and Romania (+133.8% per year).

Export Prices by Country

In 2022, the average export price for pulley tackle and hoists powered by an electric motor amounted to $X per unit, growing by 62% against the previous year. In general, export price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The export price peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ukraine ($X per unit), while the average price for exports to Serbia ($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 Ukraine (+47.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Pulley Tackle And Hoists Powered By An Electric Motor

Imports into Turkey

In 2022, supplies from abroad of pulley tackle and hoists powered by an electric motor increased by 47% to X units, rising for the third year in a row after three years of decline. In general, total imports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +101.2% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of pulley tackle and hoists powered by an electric motor skyrocketed to $X in 2022. Overall, imports enjoyed a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X units), Bulgaria (X units) and Germany (X units) were the main suppliers of imports of pulley tackle and hoists powered by an electric motor to Turkey, together comprising 81% of total imports. The United States, Italy, Poland, Finland, Taiwan (Chinese), France and the Netherlands lagged somewhat behind, together accounting for a further 15%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +67.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Bulgaria ($X), China ($X) and Germany ($X) appeared to be the largest pulley tackle and hoists powered by an electric motor suppliers to Turkey, with a combined 74% share of total imports. Finland, the United States, Poland, Italy, France, Taiwan (Chinese) and the Netherlands lagged somewhat behind, together comprising a further 21%.

Among the main suppliers, Poland, with a CAGR of +50.4%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for pulley tackle and hoists powered by an electric motor stood at $X per unit in 2022, rising by 13% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The pace of growth appeared the most rapid in 2017 when the average import price increased by 21% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Finland ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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