Turkey: Wood Bending Machine Market 2022

Wood Bending Machine Market Size in Turkey

The Turkish wood bending machine market contracted to $X in 2021, which is down by -13.8% against the previous year. Overall, consumption showed a pronounced setback. Wood bending machine consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Wood Bending Machine Production in Turkey

In value terms, wood bending machine production dropped to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.1% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the production volume increased by 40% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Wood Bending Machine Exports

Exports from Turkey

In 2021, shipments abroad of bending or assembling machines decreased by -1.3% to X units, falling for the second year in a row after two years of growth. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when exports increased by 175% against the previous year. As a result, the exports reached the peak of X units. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, wood bending machine exports skyrocketed to $X in 2021. Over the period under review, total exports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +8.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 113% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Iraq (X units) was the main destination for wood bending machine exports from Turkey, accounting for a 35% share of total exports. Moreover, wood bending machine exports to Iraq exceeded the volume sent to the second major destination, Bulgaria (X units), threefold. Poland (X units) ranked third in terms of total exports with a 3.8% share.

From 2012 to 2021, the average annual growth rate of volume to Iraq amounted to +8.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (-2.3% per year) and Poland (+36.5% per year).

In value terms, Iraq ($X) emerged as the key foreign market for wood bending machine exports from Turkey, comprising 16% of total exports. The second position in the ranking was held by Tunisia ($X), with a 5% share of total exports. It was followed by Bulgaria, with a 4.5% share.

From 2012 to 2021, the average annual growth rate of value to Iraq stood at +13.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tunisia (+34.9% per year) and Bulgaria (+0.6% per year).

Export Prices by Country

The average wood bending machine export price stood at $X per unit in 2021, growing by 66% against the previous year. Over the period under review, the export price posted a resilient expansion. The pace of growth appeared the most rapid in 2017 an increase of 103% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2018 to 2021, the the average export prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Algeria ($X per unit), while the average price for exports to Kyrgyzstan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Algeria (+26.1%), while the prices for the other major destinations experienced more modest paces of growth.

Wood Bending Machine Imports

Imports into Turkey

In 2021, after two years of growth, there was significant decline in overseas purchases of bending or assembling machines, when their volume decreased by -64.7% to X units. Overall, imports faced a precipitous decline. The pace of growth was the most pronounced in 2016 with an increase of 85%. Imports peaked at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, wood bending machine imports dropped significantly to $X in 2021. Over the period under review, imports continue to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2019 when imports increased by 140%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of wood bending machine to Turkey, accounting for a 38% share of total imports. Moreover, wood bending machine imports from China exceeded the figures recorded by the second-largest supplier, Canada (X units), twofold. The third position in this ranking was held by Austria (X units), with a 15% share.

From 2012 to 2021, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+16.1% per year) and Austria (-15.0% per year).

In value terms, Austria ($X), Germany ($X) and China ($X) were the largest wood bending machine suppliers to Turkey, with a combined 75% share of total imports. Canada, Spain, Taiwan (Chinese) and Italy lagged somewhat behind, together comprising a further 25%.

Canada, with a CAGR of +20.6%, recorded 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 wood bending machine import price stood at $X per unit in 2021, growing by 2.9% against the previous year. Overall, the import price continues to indicate prominent growth. The growth pace was the most rapid in 2019 an increase of 44%. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in years to come.

Prices varied noticeably country of origin: the country with the highest price was Austria ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+24.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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