Turkey: Self-Propelled Boring Machinery Market 2024

Self-Propelled Boring Machinery Market Size in Turkey

In 2022, the Turkish self-propelled boring machinery market increased by 18% to $X, rising for the third year in a row after two years of decline. In general, consumption saw a abrupt descent. Self-propelled boring machinery consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Self-Propelled Boring Machinery Production in Turkey

In value terms, self-propelled boring machinery production declined to $X in 2022 estimated in export price. Over the period under review, production, however, showed a prominent increase. The pace of growth was the most pronounced in 2017 when the production volume increased by 215%. Self-propelled boring machinery production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Self-Propelled Boring Machinery Exports

Exports from Turkey

In 2022, overseas shipments of self-propelled boring or sinking machinery decreased by -13.4% to X units for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, continue to indicate significant growth. The pace of growth appeared the most rapid in 2017 with an increase of 438% against the previous year. The exports peaked at X units in 2021, and then fell in the following year.

In value terms, self-propelled boring machinery exports fell modestly to $X in 2022. In general, exports, however, recorded resilient growth. The most prominent rate of growth was recorded in 2017 with an increase of 528% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2021, and then reduced slightly in the following year.

Exports by Country

Iran (X units), the United Arab Emirates (X units) and Turkmenistan (X units) were the main destinations of self-propelled boring machinery exports from Turkey, with a combined 44% share of total exports. Azerbaijan, Uzbekistan, Egypt, Liberia, Bosnia and Herzegovina, Russia, Algeria, Spain and Georgia lagged somewhat behind, together comprising a further 39%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Uzbekistan (with a CAGR of +121.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for self-propelled boring machinery exported from Turkey were Iran ($X), Turkmenistan ($X) and Azerbaijan ($X), with a combined 49% share of total exports. Uzbekistan, Egypt, Liberia, Bosnia and Herzegovina, Russia, the United Arab Emirates, Georgia, Algeria and Spain lagged somewhat behind, together accounting for a further 34%.

Uzbekistan, with a CAGR of +193.6%, saw 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 self-propelled boring machinery export price amounted to $X per unit, picking up by 13% against the previous year. Over the period under review, the export price, however, continues to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2018 when the average export price increased by 28%. As a result, the export price reached the peak level of $X per unit. From 2019 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bosnia and Herzegovina ($X per unit), while the average price for exports to the United Arab Emirates ($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 Turkmenistan (+76.2%), while the prices for the other major destinations experienced more modest paces of growth.

Self-Propelled Boring Machinery Imports

Imports into Turkey

In 2022, after two years of growth, there was significant decline in supplies from abroad of self-propelled boring or sinking machinery, when their volume decreased by -14% to X units. Over the period under review, imports continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2021 with an increase of 201%. Over the period under review, imports hit record highs at X units in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, self-propelled boring machinery imports rose remarkably to $X in 2022. In general, imports saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2021 when imports increased by 156% against the previous year. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Sweden (X units), China (X units) and Finland (X units) were the main suppliers of self-propelled boring machinery imports to Turkey, with a combined 53% share of total imports. Italy, Japan, India, France, Germany and Austria lagged somewhat behind, together comprising a further 39%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +21.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X), China ($X) and Finland ($X) were the largest self-propelled boring machinery suppliers to Turkey, with a combined 54% share of total imports. Italy, Japan, India, France, Germany and Austria lagged somewhat behind, together comprising a further 40%.

India, with a CAGR of +24.2%, saw the highest rates of growth with regard to the value of imports, among 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 self-propelled boring machinery import price stood at $X per unit in 2022, growing by 33% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.0%. The growth pace was the most rapid in 2020 an increase of 38% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Austria ($X per unit) and Germany ($X per unit), while the price for France ($X per unit) and Italy ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+3.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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