Turkey: Lifting Equipment Market 2024

Lifting Equipment Market Size in Turkey

The Turkish lifting equipment market fell to $X in 2022, which is down by X% against the previous year. Overall, consumption, however, recorded significant growth. Lifting equipment consumption peaked at $X in 2021, and then reduced in the following year.

Lifting Equipment Production in Turkey

In value terms, lifting equipment production contracted markedly to $X in 2022 estimated in export price. Overall, production, however, showed a significant expansion. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Lifting equipment production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Lifting Equipment Exports

Exports from Turkey

In 2022, shipments abroad of lifting equipment increased by X% to X units, rising for the fifth year in a row after two years of decline. In general, exports showed prominent growth. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, lifting equipment exports surged to $X in 2022. Overall, exports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Russia (X units) was the main destination for lifting equipment exports from Turkey, accounting for a X% share of total exports. Moreover, lifting equipment exports to Russia exceeded the volume sent to the second major destination, India (X units), fivefold. The third position in this ranking was taken by Moldova (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Russia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (X% per year) and Moldova (X% per year).

In value terms, Russia ($X) remains the key foreign market for lifting equipment exports from Turkey, comprising X% of total exports. The second position in the ranking was taken by India ($X), with a X% share of total exports. It was followed by Iraq, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Russia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (X% per year) and Iraq (X% per year).

Export Prices by Country

The average lifting equipment export price stood at $X per unit in 2022, increasing by X% against the previous year. In general, export price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 when the average export price increased by X% against the previous year. The export price peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per unit), while the average price for exports to Moldova ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Lifting Equipment Imports

Imports into Turkey

Lifting equipment imports into Turkey surged to X units in 2022, picking up by X% compared with the previous year's figure. In general, imports posted a strong expansion. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. As a result, imports attained the peak of X units. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, lifting equipment imports soared to $X in 2022. Overall, imports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2015 when imports increased by X%. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Poland (X units), Norway (X units) and China (X units) were the main suppliers of lifting equipment imports to Turkey, with a combined X% share of total imports. Slovenia, Serbia, Italy, Ireland and Germany lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Slovenia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest lifting equipment suppliers to Turkey were Poland ($X), Norway ($X) and Slovenia ($X), together accounting for X% of total imports. Italy, Serbia, Ireland, Germany and China lagged somewhat behind, together comprising a further X%.

Serbia, with a CAGR of X%, 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

In 2022, the average lifting equipment import price amounted to $X per unit, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2013 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Serbia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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