The impact of Türkiye earthquake on global transformer exports?
Writer： Hengfeng you electric Time：2023-03-30 views：times
The impact of Türkiye earthquake on global transformer exports?
According to the latest news of the Wall Street Journal on February 6, 2023 local time, the strong earthquake in Türkiye and Syria has killed about 3800 people and destroyed thousands of buildings. CNN quoted data from the US Geological Survey as saying that this was one of the strongest earthquakes in Türkiye in the past 100 years. (* In 1939, a 7.8 magnitude earthquake occurred in eastern Türkiye, causing more than 30000 deaths). At present, the search and rescue work is still in progress. It is reported that the epicenter of the earthquake was about 33km away from the main city and provincial capital of Türkiye, Gaziantep, which has a population of more than one million and is one of the important industrial and manufacturing centers in Türkiye.
We all know that Türkiye is one of the countries with a relatively complete range of industries in the world. In 2020, Türkiye's total GDP will be about 720 billion dollars, ranking 19th in the world, and it is the leader of emerging economies in the world today. Jack, the sales manager of Hengfengyou Electric, would like to share with you the general situation of Türkiye's transformer industry: in the global power transmission and distribution industry, Türkiye accounts for 8.38% of the export of substation transformer, 100kva transformer, 500 kva transformer, oil transformer 210l, pole transformers while China only accounts for 10.99% (data in 2020). Türkiye has occupied the main power transformer markets in Arab countries by virtue of its own advantages, such as Egypt, Iraq, Kuwait, Iran, Saudi Arabia, the United Arab Emirates In Algeria and other countries, it can be seen that Türkiye has a strong comprehensive industrial capacity. It is a strong competitor of Chinese transformer enterprises in the field of power transformers below 500kva, especially for power transformers with 30-200kva capacity. Türkiye has an absolute cost advantage, which is mainly due to lower labor costs and lower oil prices.
What kind of impact will this Türkiye earthquake have on global transformer exports?
Jack, sales manager of Hengfengyou Electric, believes that the earthquake will bring benefits to China's transformer export enterprises. The reasons are as follows:
1. The earthquake in Türkiye caused a large number of casualties, damage to buildings, roads and bridges, which will inevitably have a long-term impact on production. In addition, the current cold climate in Türkiye is unfavorable for rescue and economic recovery, and the impact is at least half a year.
2. The earthquake caused the interruption of the industrial supply chain, especially the shutdown of oil enterprises, which seriously affected the production and logistics delivery of industrial products, and could not be recovered in the short term
3. For the reconstruction after the earthquake, Turkey's domestic demand for various building materials, power transformers, and other power transmission and distribution products will also be large, which is unfavorable for export.
To sum up the above three points, Jack of Hengfengyou Electric believes that the Türkiye earthquake will bring short-term benefits to global transformer export enterprises.
