Turkey: Electric Soldering Iron Market 2024

Electric Soldering Iron Market Size in Turkey

The Turkish electric soldering iron market soared to $X in 2023, picking up by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2021; however, from 2022 to 2023, consumption remained at a lower figure.

Electric Soldering Iron Exports

Exports from Turkey

After four years of growth, shipments abroad of electric soldering irons and guns decreased by X% to X units in 2023. Overall, exports, however, posted a buoyant expansion. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The exports peaked at X units in 2022, and then shrank markedly in the following year.

In value terms, electric soldering iron exports skyrocketed to $X in 2023. Over the period under review, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of X%. The exports peaked in 2023 and are expected to retain growth in years to come.

Exports by Country

Algeria (X units), Russia (X units) and Kazakhstan (X units) were the main destinations of electric soldering iron exports from Turkey, with a combined X% share of total exports.

From 2012 to 2023, the biggest increases were recorded for Algeria (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Kazakhstan ($X) emerged as the key foreign market for electric soldering irons and guns exports from Turkey, comprising X% of total exports. The second position in the ranking was taken by Algeria ($X), with a X% share of total exports. It was followed by Russia, with a X% share.

From 2012 to 2023, the average annual growth rate of value to Kazakhstan stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Algeria (X% per year) and Russia (X% per year).

Export Prices by Country

In 2023, the average electric soldering iron export price amounted to $X per unit, rising by X% against the previous year. Over the period under review, the export price enjoyed a buoyant expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kazakhstan ($X per unit), while the average price for exports to Iran ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Kazakhstan (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Electric Soldering Iron Imports

Imports into Turkey

In 2023, electric soldering iron imports into Turkey expanded sharply to X units, growing by X% on the previous year's figure. Over the period under review, total imports indicated a temperate increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2020 with an increase of X%. Imports peaked at X units in 2021; however, from 2022 to 2023, imports failed to regain momentum.

In value terms, electric soldering iron imports soared to $X in 2023. The total import value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2023, China (X units) constituted the largest supplier of electric soldering iron to Turkey, with a X% share of total imports. Moreover, electric soldering iron imports from China exceeded the figures recorded by the second-largest supplier, Spain (X units), more than tenfold. The third position in this ranking was taken by Mexico (X units), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (X% per year) and Mexico (X% per year).

In value terms, the largest electric soldering iron suppliers to Turkey were China ($X), Spain ($X) and Mexico ($X), together comprising X% of total imports.

Spain, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of 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 electric soldering iron import price stood at $X per unit in 2023, increasing by X% against the previous year. Over the period under review, the import price, however, showed a pronounced curtailment. The pace of growth was the most pronounced in 2017 an increase of X%. The import price peaked at $X per unit in 2012; however, from 2013 to 2023, import prices remained at a lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Spain (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform