Turkish producers are expected to particularly benefit from export opportunities in Western Europe
CLEVELAND, Sept. 27, 2024 /PRNewswire/ — According to the new Freedonia Group study, Global Major Household Appliances production of major household appliances in Turkey totaled 27.7 million units in 2023, providing the country with a trade surplus equivalent to 60% of output. Turkey was the world’s third largest manufacturer of these products behind China and India and was the second largest net exporter, trailing only China.
Turkey has become a major producer of household appliances due to its relatively high level of industrialization, large labor pool, and geographical proximity to a variety of global markets. The country is a major exporter of these products to European markets, with the UK and Germany ranking among the largest export recipients for most product categories. In addition, Turkey serves a variety of less-developed markets for household appliances in Africa, the Middle East, and Central Asia.
Through 2028, production of major household appliances in Turkey is projected to increase 4.2% per year to 34.0 million units, spurred by rising demand both domestically and abroad. Turkish producers are expected to particularly benefit from export opportunities in Western Europe as that region’s manufacturing industries struggle with high operating costs. As a result, Turkey’s trade surplus in these products is expected to widen considerably.
Arçelik is headquartered in Turkey and has numerous manufacturing sites in the country, including a refrigerator and washing machine plant in Manisa that the company purchased from Whirlpool in June 2021. Global appliance manufacturers with production operations in Turkey include Bosch and Haier.
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The Freedonia Group is a premier international business research company, providing clients with product analyses, market forecasts, industry trends, and market share information. From one-person consulting firms to global conglomerates, our analysts provide companies with unbiased, reliable industry market research and analysis to help them make important business decisions. The Freedonia Group’s brands also include Packaged Facts, a trusted provider of consumer market research on food & beverage, pet products and services, demographics, and financial services, and Simba Information, the leading authority for market intelligence and forecasts on the education and professional publishing industries. Find off-the-shelf studies at https://www.freedoniagroup.com/ or contact us for custom research: +1 440.842.2400.
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SOURCE The Freedonia Group
