Turkey: Relay Market 2024

Relay Market Size in Turkey

In 2022, the Turkish relay market increased by X% to $X, rising for the third consecutive year after two years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in years to come.

Relay Production in Turkey

In value terms, relay production shrank significantly to $X in 2022 estimated in export price. Overall, production, however, recorded buoyant growth. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Relay Exports

Exports from Turkey

For the third year in a row, Turkey recorded growth in overseas shipments of relays, which increased by X% to X units in 2022. Overall, exports enjoyed a prominent expansion. The pace of growth was the most pronounced in 2018 with an increase of X%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, relay exports stood at $X in 2022. In general, total exports indicated a remarkable increase from 2012 to 2022: its value 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. Based on 2022 figures, exports increased by X% against 2016 indices. The growth pace was the most rapid in 2017 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in years to come.

Exports by Country

France (X units) was the main destination for relay exports from Turkey, with a X% share of total exports. Moreover, relay exports to France exceeded the volume sent to the second major destination, Germany (X units), fivefold. The third position in this ranking was held by Egypt (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to France amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Egypt (X% per year).

In value terms, France ($X) remains the key foreign market for relays exports from Turkey, comprising X% of total exports. The second position in the ranking was taken by Germany ($X), with a X% share of total exports. It was followed by Iran, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to France totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Iran (X% per year).

Export Prices by Country

In 2022, the average relay export price amounted to $X per unit, declining by X% against the previous year. In general, the export price saw a slight downturn. The most prominent rate of growth was recorded in 2013 an increase of X%. As a result, the export price reached the peak level of $X per unit. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Iran ($X per unit), while the average price for exports to Egypt ($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 Bulgaria (X%), while the prices for the other major destinations experienced more modest paces of growth.

Relay Imports

Imports into Turkey

In 2022, overseas purchases of relays increased by X% to X units, rising for the third year in a row after two years of decline. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, relay imports rose notably to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest relay supplier to Turkey, with a X% share of total imports. Moreover, relay imports from China exceeded the figures recorded by the second-largest supplier, France (X units), fivefold. The third position in this ranking was held by Germany (X units), with an X% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: France (X% per year) and Germany (X% per year).

In value terms, the largest relay suppliers to Turkey were China ($X), Germany ($X) and France ($X), with a combined X% share of total imports. Italy, South Korea, India, Japan, the Czech Republic, Romania, Portugal and Thailand lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Japan, with a CAGR of X%, saw the highest growth rate of the value of imports, 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 relay import price amounted to $X per unit, picking up by X% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

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

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

Source: IndexBox Platform

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