Turkey: Working Wire Machine Market 2022

Working Wire Machine Market Size in Turkey

The Turkish working wire machine market fell remarkably to $X in 2021, which is down by -19.5% against the previous year. Over the period under review, consumption, however, saw a buoyant expansion. As a result, consumption attained the peak level of $X, and then shrank significantly in the following year.

Working Wire Machine Production in Turkey

In value terms, working wire machine production reduced slightly to $X in 2021 estimated in export price. Overall, production showed a mild downturn. The growth pace was the most rapid in 2017 with an increase of 23% 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.

Working Wire Machine Exports

Exports from Turkey

In 2021, approx. X units of machines for working wire were exported from Turkey; rising by 23% compared with 2020. Over the period under review, exports recorded a buoyant increase. The pace of growth was the most pronounced in 2020 with an increase of 53%. The exports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, working wire machine exports skyrocketed to $X in 2021. Overall, total exports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +7.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +72.3% against 2019 indices. The most prominent rate of growth was recorded in 2014 when exports increased by 60% against the previous year. The exports peaked in 2021 and are likely to see steady growth in years to come.

Exports by Country

The United Arab Emirates (X units), Germany (X units) and Romania (X units) were the main destinations of working wire machine exports from Turkey, together comprising 35% of total exports. Iraq, Algeria, Albania, Ukraine, Kenya, Colombia, Serbia, Iran, India and Kuwait lagged somewhat behind, together comprising a further 29%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Colombia (with a CAGR of +80.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for working wire machine exported from Turkey were Ukraine ($X), Romania ($X) and Germany ($X), with a combined 19% share of total exports. These countries were followed by India, Kenya, Serbia, Algeria, Albania, Iraq, Iran, Colombia, Kuwait and the United Arab Emirates, which together accounted for a further 24%.

Albania, with a CAGR of +156.4%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination 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 working wire machine export price amounted to $X per unit, standing approx. at the previous year. Over the period under review, the export price, however, recorded a abrupt descent. The growth pace was the most rapid in 2014 when the average export price increased by 31%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Ukraine ($X per unit), while the average price for exports to the United Arab Emirates ($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 Albania (+54.5%), while the prices for the other major destinations experienced more modest paces of growth.

Working Wire Machine Imports

Imports into Turkey

In 2021, working wire machine imports into Turkey soared to X units, growing by 87% against the year before. Over the period under review, imports enjoyed a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, working wire machine imports skyrocketed to $X in 2021. In general, imports recorded a resilient expansion. The pace of growth appeared the most rapid in 2020 with an increase of 70% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the near future.

Imports by Country

In 2021, China (X units) constituted the largest working wire machine supplier to Turkey, accounting for a 70% share of total imports. Moreover, working wire machine imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), threefold. The third position in this ranking was held by Taiwan (Chinese) (X units), with a 1.7% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +20.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+29.7% per year) and Taiwan (Chinese) (-10.1% per year).

In value terms, China ($X) constituted the largest supplier of working wire machine to Turkey, comprising 61% of total imports. The second position in the ranking was held by Italy ($X), with a 23% share of total imports. It was followed by Germany, with a 6.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +25.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+29.8% per year) and Germany (-2.8% per year).

Import Prices by Country

The average working wire machine import price stood at $X per unit in 2021, declining by -18.7% against the previous year. Overall, the import price saw a pronounced decline. The most prominent rate of growth was recorded in 2020 an increase of 38%. Over the period under review, average import prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: 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 the United Arab Emirates (+27.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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