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Turkey - Refrigerators And Freezers - Market Analysis, Forecast, Size, Trends and Insights
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Article Publishing Date: Jan 20, 2023
Refrigerator and Freezer Price in Turkey Hits New Record of $12.7 per Unit
Turkey Refrigerator and Freezer Export Price in September 2022
In September 2022, the refrigerator and freezer price amounted to $12.7 per unit (FOB, Turkey), increasing by 4.3% against the previous month. Over the last eight-month period, it increased at an average monthly rate of +1.8%. The pace of growth was the most pronounced in July 2022 when the average export price increased by 12% against the previous month. The export price peaked in September 2022.
There were significant differences in the average prices for the major overseas markets. In September 2022, the country with the highest price was the United States ($16.7 per unit), while the average price for exports to Austria ($4.3 per unit) was amongst the lowest.
From January 2022 to September 2022, the most notable rate of growth in terms of prices was recorded for supplies to Iraq (+12.1%), while the prices for the other major destinations experienced more modest paces of growth.
Turkey Refrigerator and Freezer Export Prices by Type
There were significant differences in the average prices for the major types of exported product. In September 2022, the product with the highest price was combined refrigerators-freezers ($286 per unit), while the average price for exports of household refrigerators and freezers (not combined) stood at $4.5 per unit.
From January 2022 to September 2022, the most notable rate of growth in terms of prices was recorded for the following types: non-combined refrigerator-freezer (+0.3%).
Turkey Refrigerator and Freezer Exports
In September 2022, the amount of refrigerators and freezers exported from Turkey shrank to 11M units, with a decrease of -10.6% against the month before. The total export volume increased at an average monthly rate of +1.3% from January 2022 to September 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain months. The pace of growth was the most pronounced in February 2022 when exports increased by 36% m-o-m. Over the period under review, the exports reached the maximum at 15M units in March 2022; however, from April 2022 to September 2022, the exports remained at a lower figure.
In value terms, refrigerator and freezer exports contracted to $143M (IndexBox estimates) in September 2022. The total export value increased at an average monthly rate of +3.2% over the period from January 2022 to September 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain months. The pace of growth appeared the most rapid in June 2022 when exports increased by 31% m-o-m. Over the period under review, the exports attained the peak figure at 172M units in March 2022; however, from April 2022 to September 2022, the exports stood at a somewhat lower figure.
Turkey Refrigerator and Freezer Exports by Type
Household refrigerators and freezers (not combined) (11M units) was the largest type of refrigerator and freezer exported from Turkey, with a 97% share of total exports. It was followed by combined refrigerators-freezers (327K units), with a 2.9% share of total exports.
From January 2022 to September 2022, the average monthly growth rate of the volume of export of household refrigerators and freezers (not combined) amounted to +1.3%.
In value terms, the most traded types of refrigerators and freezers in Turkey were combined refrigerators-freezers ($93M) and household refrigerators and freezers (not combined) ($49M).
Among the main product categories, combined refrigerator-freezer, with a CAGR of +4.2%, recorded the highest rates of growth with regard to the value of exports, over the period under review.
Turkey Refrigerator and Freezer Exports by Country
The UK (1.7M units), Germany (1.4M units) and the United States (1.2M units) were the main destinations of refrigerator and freezer exports from Turkey, together comprising 38% of total exports. France, Sweden, Israel, Italy, Spain, Iraq, Belgium, Russia, Romania and Austria lagged somewhat behind, together comprising a further 35%.
From January 2022 to September 2022, the biggest increases were in Russia (with a CAGR of +35.5%), while shipments for the other leaders experienced more modest paces of growth.
In value terms, the largest markets for refrigerator and freezer exported from Turkey were the UK ($20M), the United States ($20M) and Germany ($15M), with a combined 38% share of total exports. France, Spain, Italy, Israel, Sweden, Iraq, Romania, Russia, Belgium and Austria lagged somewhat behind, together comprising a further 28%.
In terms of the main countries of destination, Russia, with a CAGR of +33.2%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Refrigerator and Freezer Market Overview
Turkey's refrigerator and freezer market is growing rapidly, with sales increasing by double digits every year. This growth is being driven by a number of factors, including rising incomes, urbanization, and the country's young population.
The country's construction sector is expanding rapidly, which is one of the major factors driving the growth of the refrigerator and freezer market in Turkey. Income levels in Turkey are rising steadily, especially as more people move into urban areas and find well-paying jobs. This increase in disposable income is leading to a growing demand for refrigerators and freezers, as Turkish consumers look to upgrade their appliances.
This report provides an in-depth analysis of the refrigerator and freezer market in Turkey. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
• Prodcom 27511110 - Combined refrigerators-freezers, with separate external doors
• Prodcom 27511133 - Household-type refrigerators (including compression-type, e lectrical absorption-type) (excluding built-in)
• Prodcom 27511135 - Compression-type built-in refrigerators
• Prodcom 27511150 - Chest freezers of a capacity . .800 litres
• Prodcom 27511170 - Upright freezers of a capacity . .900 litres
Country coverage:
• Turkey
Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in Turkey
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles
Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
2.1
KEY FINDINGS
2.2
MARKET TRENDS
This Chapter is Available Only for the Professional Edition
PRO
3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
8.1
IMPORTS FROM 2012–2022
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
9.1
EXPORTS FROM 2012–2022
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
LIST OF TABLES
Table 1:
Key Findings In 2022
Table 2:
Market Volume, In Physical Terms, 2012–2022
Table 3:
Market Value, 2012–2022
Table 4:
Per Capita Consumption In 2007-2022
Table 5:
Imports, In Physical Terms, By Country, 2012–2022
Table 6:
Imports, In Value Terms, By Country, 2012–2022
Table 7:
Import Prices, By Country Of Origin, 2012–2022
Table 8:
Exports, In Physical Terms, By Country, 2012–2022
Table 9:
Exports, In Value Terms, By Country, 2012–2022
Table 10:
Export Prices, By Country Of Destination, 2012–2022
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2022
Figure 2:
Market Value, 2012–2022
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007-2022
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007-2022
Figure 5:
Trade Balance, In Physical Terms, 2007-2022
Figure 6:
Trade Balance, In Value Terms, 2007-2022
Figure 7:
Per Capita Consumption, 2007-2022
Figure 8:
Market Forecast To 2030
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2012–2022
Figure 21:
Production, In Value Terms, 2012–2022
Figure 22:
Imports, In Physical Terms, 2012–2022
Figure 23:
Imports, In Value Terms, 2012–2022
Figure 24:
Imports, In Physical Terms, By Country, 2022
Figure 25:
Imports, In Physical Terms, By Country, 2012–2022
Figure 26:
Imports, In Value Terms, By Country, 2012–2022
Figure 27:
Import Prices, By Country Of Origin, 2012–2022
Figure 28:
Exports, In Physical Terms, 2012–2022
Figure 29:
Exports, In Value Terms, 2012–2022
Figure 30:
Exports, In Physical Terms, By Country, 2022
Figure 31:
Exports, In Physical Terms, By Country, 2012–2022
Figure 32:
Exports, In Value Terms, By Country, 2012–2022
Figure 33:
Export Prices, By Country Of Destination, 2012–2022
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