Turkey: Market for Machine Tools For Working Metal Without Removing Metal 2023

Market Size for Machine Tools For Working Metal Without Removing Metal in Turkey

The Turkish machine tool for metal market skyrocketed to $X in 2021, increasing by 25% against the previous year. In general, consumption recorded prominent growth. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Production of Machine Tools For Working Metal Without Removing Metal in Turkey

In value terms, machine tool for metal production declined modestly 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 pace of growth appeared the most rapid in 2016 with an increase of 39% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Exports of Machine Tools For Working Metal Without Removing Metal

Exports from Turkey

In 2021, overseas shipments of machine tools for working metal without removing metal increased by 101% to X units, rising for the second consecutive year after two years of decline. Overall, exports continue to indicate prominent growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, machine tool for metal exports skyrocketed to $X in 2021. In general, exports enjoyed a remarkable increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Moldova (X units) was the main destination for machine tool for metal exports from Turkey, with a 43% share of total exports. Moreover, machine tool for metal exports to Moldova exceeded the volume sent to the second major destination, the UK (X units), sixfold. The third position in this ranking was taken by Romania (X units), with a 4.1% share.

From 2012 to 2021, the average annual growth rate of volume to Moldova totaled +674.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+84.9% per year) and Romania (+41.0% per year).

In value terms, Poland ($X), Azerbaijan ($X) and the United States ($X) appeared to be the largest markets for machine tool for metal exported from Turkey worldwide, together accounting for 27% of total exports. These countries were followed by Romania, Iran, Uzbekistan, Saudi Arabia, Bulgaria, China, the UK, Moldova, North Macedonia and the United Arab Emirates, which together accounted for a further 42%.

In terms of the main countries of destination, Moldova, with a CAGR of +664.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average machine tool for metal export price amounted to $X per unit, jumping by 29% against the previous year. Overall, export price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +2.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, machine tool for metal export price decreased by -13.9% against 2018 indices. The pace of growth was the most pronounced in 2018 when the average export price increased by 29% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2019 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Poland ($X per unit), while the average price for exports to Moldova ($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 China (+56.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machine Tools For Working Metal Without Removing Metal

Imports into Turkey

In 2021, the amount of machine tools for working metal without removing metal imported into Turkey soared to X units, with an increase of 111% on 2020. Over the period under review, imports continue to indicate a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, machine tool for metal imports surged to $X in 2021. In general, imports saw buoyant growth. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest machine tool for metal supplier to Turkey, with a 45% share of total imports. Moreover, machine tool for metal imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), threefold. Taiwan (Chinese) (X units) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+64.4% per year) and Taiwan (Chinese) (+12.1% per year).

In value terms, China ($X), Italy ($X) and Germany ($X) were the largest machine tool for metal suppliers to Turkey, together comprising 61% of total imports. The United States, Taiwan (Chinese), South Korea, Switzerland, Japan and the UK lagged somewhat behind, together comprising a further 37%.

The United States, with a CAGR of +52.8%, recorded the highest growth rate of 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 machine tool for metal import price stood at $X per unit in 2021, growing by 26% against the previous year. Over the period under review, import price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, machine tool for metal import price decreased by -41.7% against 2018 indices. The growth pace was the most rapid in 2013 an increase of 54% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per unit), while the price for the UK ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+6.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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