From 2013 to 2023, Turkey’s import of parts for internal combustion spark ignition engines grew, with significant annual fluctuations. The historical data indicates periods of growth like 2016-2017 with double-digit increases and setbacks such as the -14.43% drop in 2020. In 2023, the import value stood at 1152.1 million USD. The last two years showed steady growth rates of 2.8% in 2022 and 2.67% in 2023. The 5-year CAGR leading up to 2023 was 3.4%, reflecting moderate but consistent growth despite some volatile years.
Looking ahead, a forecasted 5-year CAGR of 2% until 2028 suggests a stable but slower growth rate compared to the previous period. By 2028, imports are expected to reach approximately 1308.6 million USD, representing a 10.43% growth over five years.
Future Trends to Watch For:
- Evolving automotive technologies, which could impact demand for traditional internal combustion parts.
- Regulatory changes promoting greener alternatives, potentially reducing reliance on spark ignition engine components.
- Economic factors, including inflation and currency fluctuations, affecting import levels and values.
- Supply chain disruptions or improvements, influencing the stability of imports.
