PUBLISHER: TechSci Research | PRODUCT CODE: 1125515
PUBLISHER: TechSci Research | PRODUCT CODE: 1125515
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Growing urbanization and changing lifestyles and preferences for automatic washing machines are influencing the Turkey washing machine market, which is expected to grow at a CAGR of 6.23% during the forecast period, reaching around USD939.03 million by 2027F. Furthermore, increasing population, increased purchasing power, product innovation, and technological advancement are expected to boost the Turkey washing machine market during the forecast period.
Due to the increasing demand for washing machines, many multinational corporations are investing significantly in their research and development divisions. The goal of every market leader is to offer their clients brand-new, technologically advanced washing machines. The Turkey washing machine market can be divided into front load automatic, top load automatic, and semi-automatic segments.
Turkey's increased GDP per capita income is expected to boost demand for washing machines during the forecast period. Diverse innovations are being evolved at the same time to stimulate market expansion. For instance, Arcelik, a Turkish manufacturer of home appliances, recently unveiled a new washing machine that helps in limiting the entry of microplastics and microfibers into and contaminating waterways and oceans. The washing machine has a multilayered filter installed that can remove 90% of the 1 million tiny plastic fibers released with each laundry load. When water is pushed out at the end of each cycle, the fibers are caught inside the filter, preventing them from being flushed into pipes, getting into sewers, and eventually getting into the ocean.
Sales of washing machines decreased because of trade restrictions and a nationwide halt in production during the COVID-19 pandemic.
Most people in Turkey use washing machines to wash and dry their clothes efficiently at home instead of laundry services, which is anticipated to drive the market growth trend as Turkey is one of the country with the fastest growth rates in the world. During the forecast period, rapid urbanization will also accelerate the growth of washing machines market.
Changing Lifestyle will Fuel the Market Growth
The improvement in living standards brought about by consumer lifestyle and preference changes is anticipated to fuel the growth of the washing machine market.
The increasing working population leads to a busy schedule for consumers, thus increasing the need for washing machines.
Technological Advancement will Lead to the Growth of Washing Machine Market
Manufacturers of washing machines incorporate innovations into their products to advance technological development. Consumers frequently use these smart appliances in the modern world to simplify their tasks. Some internet and AI-enhanced features added to the washing machine include the Touch Control Panel, Smart Auto Detergent Dispenser, Smart Inverter Technology, Smart Control using Apps, and Smart Sensor Technology. The self-running washing machine and voice control capabilities have become the most crucial household aids. The sector's expansion has been facilitated by innovation in design, after-sales services, and new technologies.
Increasing Population will Lead to the Growth of washing Machine Market
The growing population and greater purchasing power may stimulate innovation and create jobs, advancing economic growth. As disposable income rises, there will be greater demand for washing machines, driving the market growth.
The Turkey washing machine market is segmented by type, machine capacity, technology, distribution channel, and region. The market is segmented into front load automatic, top load automatic, and semi-automatic based on type. In terms of machine capacity, the market is further segmented into 8 kg and above and below 8 kg. In terms of technology, the market is divided into non-smart and smart connected washing machines. In terms of distribution channel, the market is segmented into multi-branded stores, supermarkets and hypermarkets, online, and others (direct sales, wholesales, etc.).
Arcelik A.S., Bosch Sanayi Ve Ticaret A.S., Vestel Ticaret Anonim Sirketi, Samsung Electronics Turkey (SETK), Electrolux Dayalikli Tuketim Mamulleri A.S., Candy Hoover Euroasia Ev Gerecleri AS (Turkiye), LG Electronics Ticaret A.S.(LGETK), Midea Group Co., Ltd., Haier Smart Home Co., Ltd., and IFB Industries Limited. are some of the leading market players in the Turkey washing machine market. New market players have also been actively entering the market in recent years, further strengthening future market growth.
In this report, Turkey washing machine market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Front Load Automatic
Top Load Automatic
8 kg and Above
Below 8 Kg
Supermarkets and Hypermarkets
Others (Direct Sales, Wholesales, etc.)
Company Profiles: Detailed analysis of the major companies present in Turkey washing machine market.
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report: