Turkey Household Appliances Market Outlook

The turkey household appliance market outlook for the period between 2018 and 2032 has been heavily affected by the country's rapidly growing population as well as its increasing disposable incomes. these factors have been the primary drivers of growth in the sector, with the overall size of turkey's market increasing by an estimated 5.4% annually during this time. this growth has been further driven by high levels of consumer confidence, as shorter waiting times for imported electric appliances have become increasingly available. as of 2021, the market is estimated to be worth over us$10 billion, with the majority of sales coming from electrical appliances, such as washing machines, refrigerators and air-conditioners. this shows that turkish consumers prefer energy-efficient and convenient appliances in the modern age. the majority of these purchases are made through online retailers as a result of the convenience and lower price points. going forward, demand for more energy-efficient appliances and technological advances are expected to drive the market further, with an expected compound annual growth rate (cagr) of 4.3% anticipated between 2021 and 2032. this will be further supported by the establishment of the joint committee for european enterprise policies which has introduced enhanced standards for foreign investment in the country. in addition to this, the increasing number of high-end and luxury products is likely to drive market growth, as demand for such products is on the rise amongst the country's wealthy population. this will be further supported by rising disposable incomes and the availability of more consumer financing options, allowing turkish consumers to purchase more expensive products. overall, the outlook for the turkey household appliance market between 2018 and 2032 suggests that growth should continue and remain steady. this growth is expected to be supported by the country's increasing population, rising disposable incomes, and technological advances, as well as the establishment of better foreign investment policies. as a result, the potential for the market to continue to grow at a steady rate is very high.