Turkey Home Appliances Market

Turkey Home Appliances Market Overview:  

The Turkey home appliances market is projected to exhibit a growth rate (CAGR) of 5.60% during 2024-2032. The rising disposable incomes, rapid urbanization, an increasing consumer demand for smart and energy-efficient appliances, a steadily expanding real estate sector, and rising government incentives for energy-saving products are some of the factors propelling the market growth.

Turkey Home Appliances Market Trends:

Rising Disposable Incomes

The increasing consumer purchasing power is leading to higher demand for home appliances which is acting as a major growth-inducing factor in the market. According to the Income and Living Conditions survey results, the share of the top quintile by the equivalised household disposable income was 49.8% recording an increase of 1.8 points whilst the share of the bottom quintile was 5.9% with a decrease of 0.1 points in comparison with the previous year. According to the household type, the highest mean annual equivalised household disposable income was observed among the one-person households with 100 thousand 076 TL with an increase of 37 thousand 522 TL compared to the previous year. The mean annual equivalised household disposable income of the multi-person no-family households was 99 thousand 916 TL while the income of the one-family households was 85 thousand 758 TL. The household type with the lowest mean annual equivalised disposable income was extended-family households with 66 thousand 001 TL. In 2023, whereas the mean annual equivalised household disposable income of Türkiye was 83 thousand 808 TL, TR10 (İstanbul) was the region having the highest mean annual equivalised household disposable income with 114 thousand 634 TL within the SR Level 2. It was followed by TR51 (Ankara) and TR21 (Tekirdağ, Edirne, Kırklareli) regions with mean annual equivalised household disposable income 108 thousand 036 TL and 101 thousand 372 TL respectively.

Rapid Urbanization

The growing urban population boosts the need for modern home conveniences and appliances which is contributing to the market growth. For instance, some 67.9% of Türkiye's population resides in urban settlements, the Turkish Statistical Institute (TurkStat) revealed in its "Urban-Rural Population Statistics 2022". As of December 2022, over 57 million people live in urban settlements, which constitute 1.6% of Türkiye's total surface area. A total of 17.3% of the country's population resides in rural settlements constituting 93.5% of Türkiye's surface area, and 14.8% of the population lives in medium-density cities that constitute 4.9% of the country's surface area. The 2022 report also shows that 30.1% of the population aged 65 and over, which constitutes 9.9% of the total population in the country, reside in rural settlements, and 14.6% of older people live in medium-density cities, with 55.3% living in urban areas. The majority of those living in urban areas are people between the ages of 15-64, which constitutes 68.1% of Türkiye's population, 69.2% of whom live in densely populated areas, 14.7% live in medium-density cities and 16.1% in rural areas respectively.

Turkey Home Appliances Market News:

• In April 2024, Arçelik, a Turkish multinational household appliances manufacturer, announced that it has acquired full ownership of Whirlpool’s Morocco and Middle East and North Africa (Mena) operations, thus marking a significant milestone in its growth strategy.
• In August 2023, Turkish companies Vestel, a home and professional appliance manufacturer, and Zorlu, a multinational holding company, are planning to establish a home appliances factory in Egypt with over $70 million investment for the first phase.
   

Turkey Home Appliances Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on product and distribution channel.

Product Insights:

• Major Appliances 
  • Refrigerators
  • Freezers
  • Dishwashing Machines
  • Washing Machines
  • Ovens
  • Air Conditioners
  • Others
• Small Appliances 
  • Coffee/Tea Makers
  • Food Processors
  • Grills and Roasters
  • Vacuum Cleaners
  • Others
     

The report has provided a detailed breakup and analysis of the market based on the product. This includes major appliances (refrigerators, freezers, dishwashing machines, washing machines, ovens, air conditioners, and others) and small appliances (coffee/tea makers, food processors, grills and roasters, vacuum cleaners, and others).

Distribution Channel Insights:

• Multi-brand Stores
• Exclusive Stores
• Online
• Others
   

A detailed breakup and analysis of the market based on the distribution channel have also been provided in the report. This includes multi-brand stores, exclusive stores, online, and others.

Regional Insights:

• Marmara
• Central Anatolia
• Mediterranean
• Aegean
• Southeastern Anatolia
• Blacksea
• Eastern Anatolia
   

The report has also provided a comprehensive analysis of all the major regional markets, which include Marmara, Central Anatolia, Mediterranean, Aegean, Southeastern Anatolia, Blacksea, Eastern Anatolia.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Turkey Home Appliances Market Report Coverage:

Key Questions Answered in This Report:

• How has the Turkey home appliances market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the Turkey home appliances market?
• What is the breakup of the Turkey home appliances market on the basis of products?
• What is the breakup of the Turkey home appliances market on the basis of distribution channels?
• What are the various stages in the value chain of the Turkey home appliances market? 
• What are the key driving factors and challenges in the Turkey home appliances?
• What is the structure of the Turkey home appliances market and who are the key players?
• What is the degree of competition in the Turkey home appliances market?  

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Turkey home appliances market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Turkey home appliances market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Turkey home appliances industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.