Turkey: Tapered Roller Bearing Market 2024

Tapered Roller Bearing Market Size in Turkey

The Turkish tapered roller bearing market expanded remarkably to $X in 2021, increasing by 9.4% against the previous year. The market value increased at an average annual rate of +5.0% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Tapered Roller Bearing Production in Turkey

In value terms, tapered roller bearing production rose to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when the production volume increased by 43%. Tapered roller bearing production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Tapered Roller Bearing Exports

Exports from Turkey

For the third consecutive year, Turkey recorded growth in overseas shipments of tapered roller bearings, which increased by 30% to X tons in 2021. Over the period under review, exports enjoyed a strong expansion. The most prominent rate of growth was recorded in 2019 with an increase of 48% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, tapered roller bearing exports soared to $X in 2021. In general, exports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2020 with an increase of 68%. The exports peaked in 2021 and are likely to see steady growth in the near future.

Exports by Country

Iran (X tons) was the main destination for tapered roller bearing exports from Turkey, accounting for a 36% share of total exports. Moreover, tapered roller bearing exports to Iran exceeded the volume sent to the second major destination, Russia (X tons), threefold. The third position in this ranking was taken by Azerbaijan (X tons), with a 4.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Iran stood at +87.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+71.9% per year) and Azerbaijan (+62.8% per year).

In value terms, Iran ($X) remains the key foreign market for tapered roller bearings exports from Turkey, comprising 56% of total exports. The second position in the ranking was taken by Russia ($X), with a 6.7% share of total exports. It was followed by Azerbaijan, with a 4.7% share.

From 2012 to 2021, the average annual growth rate of value to Iran amounted to +103.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+50.6% per year) and Azerbaijan (+49.0% per year).

Export Prices by Country

In 2021, the average tapered roller bearing export price amounted to $X per ton, jumping by 17% against the previous year. Overall, export price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +6.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, tapered roller bearing export price increased by +58.6% against 2019 indices. The pace of growth was the most pronounced in 2020 an increase of 35%. Over the period under review, the average export prices reached the peak figure in 2021 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Iran ($X per ton), while the average price for exports to Iraq ($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 Uzbekistan (+9.1%), while the prices for the other major destinations experienced more modest paces of growth.

Tapered Roller Bearing Imports

Imports into Turkey

In 2021, the amount of tapered roller bearings imported into Turkey surged to X tons, with an increase of 25% on 2020. Overall, total imports indicated a measured increase from 2012 to 2021: its volume increased at an average annual rate of +4.6% 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 +55.0% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, tapered roller bearing imports soared to $X in 2021. The total import value increased at an average annual rate of +3.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest tapered roller bearing supplier to Turkey, with a 37% share of total imports. Moreover, tapered roller bearing imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), twofold. Germany (X tons) ranked third in terms of total imports with a 7.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+11.0% per year) and Germany (+6.7% per year).

In value terms, the largest tapered roller bearing suppliers to Turkey were China ($X), Germany ($X) and India ($X), with a combined 43% share of total imports. These countries were followed by Japan, the United States, Poland, Austria, France, Romania, Slovakia, Italy, Ukraine and the United Arab Emirates, which together accounted for a further 50%.

In terms of the main suppliers, Slovakia, with a CAGR of +55.9%, 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

In 2021, the average tapered roller bearing import price amounted to $X per ton, growing by 6.1% against the previous year. In general, the import price, however, recorded a slight setback. The most prominent rate of growth was recorded in 2013 an increase of 17% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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