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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SOURCE The Freedonia Group