China and Germany Are the Main Suppliers of Electrical Transformers into Turkey

The value of total imports for electrical transformers in 2014 stood at 96 million USD. There was an annual decrease of 4% for the period from 2007 to 2014. In physical terms, the total volume of electrical transformers reached 39.7 million units in 2014, 4.4 million units (12%) more than the year before.

The performance of the Turkey's electrical transformers market is forecast to accelerate, with an anticipated CAGR of 4% for the seven-year period from 2014 to 2020, which is expected to lead the market to a value of 845 million USD by the end of 2020.

In 2014, Saudi Arabia (35,9%), Iraq (22,9%) and Turkmenistan (21,0%) were the leading destinations, together making up 79,8% of Turkey's exports. While the share of Turkmenistan increased significantly, the share of Saudi Arabia illustrated negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In 2014, China and Germany were the main suppliers of electrical transformers into Turkey, with a combined share of 49.2% in total imports. However, the fastest growing suppliers from 2007 to 2014 were Austria (+39% per year) and the Republic of Korea (+15% per year).

Source: Turkey: Electrical Transformers - Market Report. Analysis And Forecast To 2020