Speed Changer Price in Turkey - 2023
Contents:
- Speed Changer Price in Turkey (CIF) - 2023
- Speed Changer Price in Turkey (FOB) - 2023
- Speed Changer Imports in Turkey
- Speed Changer Exports in Turkey
Speed Changer Price in Turkey (CIF) - 2023
In July 2023, the average speed changer import price amounted to $12,543 per ton, declining by -1.5% against the previous month. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in October 2022 when the average import price increased by 20% month-to-month. Over the period under review, average import prices attained the maximum at $15,532 per ton in April 2023; however, from May 2023 to July 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was the United States ($36,157 per ton), while the price for China ($5,666 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by the United States (+2.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Speed Changer Price in Turkey (FOB) - 2023
The average speed changer export price stood at $7,868 per ton in July 2023, therefore, remained relatively stable against the previous month. Overall, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in December 2022 when the average export price increased by 18% m-o-m. As a result, the export price reached the peak level of $7,966 per ton. From January 2023 to July 2023, the the average export prices remained at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Russia ($14,854 per ton), while the average price for exports to Belgium ($2,867 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Iran (+6.8%), while the prices for the other major destinations experienced more modest paces of growth.
Speed Changer Imports in Turkey
For the fourth year in a row, Turkey recorded growth in supplies from abroad of speed changers, industrial high-speed drives and gear, which increased by 13% to 36K tons in 2022. Overall, total imports indicated strong growth from 2019 to 2022: its volume increased at an average annual rate of +17.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +62.2% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 21% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.
In value terms, speed changer imports surged to $470M in 2022. Over the period under review, total imports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +17.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +62.1% against 2019 indices. The growth pace was the most rapid in 2021 when imports increased by 28% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.
| Import of Speed Changer in Turkey (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 75.8 | 73.5 | 94.4 | 121 | 16.9% |
| Italy | 53.9 | 57.8 | 79.8 | 90.7 | 18.9% |
| China | 45.4 | 57.5 | 80.7 | 88.9 | 25.1% |
| India | 12.2 | 13.5 | 21.6 | 31.8 | 37.6% |
| United States | 20.0 | 22.2 | 21.0 | 24.1 | 6.4% |
| South Korea | 11.1 | 13.6 | 17.9 | 18.8 | 19.2% |
| Slovakia | 3.4 | 4.9 | 5.3 | 8.2 | 34.1% |
| Czech Republic | 8.5 | 8.6 | 11.3 | 7.5 | -4.1% |
| Others | 59.6 | 62.5 | 69.0 | 79.0 | 9.8% |
| Total | 290 | 314 | 401 | 470 | 17.5% |
Top Suppliers of Speed Changer to Turkey in 2022:
- China (13.6K tons)
- Italy (5.4K tons)
- Germany (5.3K tons)
- India (4.8K tons)
- South Korea (1.7K tons)
- United States (0.7K tons)
- Slovakia (0.7K tons)
- Czech Republic (0.3K tons)
Speed Changer Exports in Turkey
In 2022, exports of speed changers, industrial high-speed drives and gear from Turkey contracted to 35K tons, waning by -3.5% compared with 2021. The total export volume increased at an average annual rate of +3.5% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 19% against the previous year. As a result, the exports attained the peak of 36K tons, and then shrank slightly in the following year.
In value terms, speed changer exports expanded remarkably to $225M in 2022. In general, total exports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +13.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +54.4% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 35% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in years to come.
| Export of Speed Changer in Turkey (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 28.8 | 27.3 | 39.3 | 41.1 | 12.6% |
| Italy | 14.2 | 12.7 | 20.4 | 26.7 | 23.4% |
| Russia | 7.0 | 5.8 | 8.9 | 17.8 | 36.5% |
| Belgium | 15.5 | 12.6 | 9.5 | 13.6 | -4.3% |
| United States | 4.3 | 5.9 | 6.7 | 10.5 | 34.7% |
| Iran | 7.0 | 7.7 | 10.3 | 10.1 | 13.0% |
| France | 4.0 | 3.0 | 6.2 | 8.8 | 30.1% |
| India | 6.2 | 4.0 | 10.3 | 5.4 | -4.5% |
| Austria | 3.4 | 2.9 | 4.0 | 4.3 | 8.1% |
| Finland | 1.9 | 1.9 | 2.6 | 2.9 | 15.1% |
| Czech Republic | 2.1 | 1.8 | 2.8 | 1.7 | -6.8% |
| Others | 58.5 | 60.4 | 76.2 | 82.3 | 12.1% |
| Total | 153 | 146 | 197 | 225 | 13.7% |
Top Export Markets for Speed Changer from Turkey in 2022:
- Germany (7.3K tons)
- Italy (4.9K tons)
- Belgium (4.5K tons)
- Russia (2.0K tons)
- India (1.8K tons)
- France (1.5K tons)
- Iran (1.4K tons)
- United States (1.0K tons)
- Austria (1.0K tons)
- Finland (0.7K tons)
- Czech Republic (0.3K tons)
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