Turkey Washing Machine Market Report 2022: Changing Lifestyles will Fuel Sector Growth - ResearchAndMarkets.com
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.
The "Turkey Washing Machine Market, By Type (Front Load Automatic, Top Load Automatic Semi-Automatic), By Machine Capacity (8 Kg and Above, Below 8 Kg), By Technology, By Distribution Channel, By Region, Competition, Forecast & Opportunities, 2017-2027F" report has been added to ResearchAndMarkets.com's offering.
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.
Increasing Urbanization
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 Lifestyles 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.
Market Segmentation
Turkey Washing Machine Market, By Type:
- Front Load Automatic
- Top Load Automatic
- Semi- Automatic
Turkey Washing Machine Market, By Machine Capacity:
- 8 kg and Above
- Below 8 Kg
Turkey Washing Machine Market, By Technology:
- Non-Smart
- Smart Connected
Turkey Washing Machine Market, By Distribution Channel:
- Multi-Branded Stores
- Supermarkets and Hypermarkets
- Online
- Others (Direct Sales, Wholesales, etc.)
Turkey Washing Machine Market, By Region:
- Marmara
- Central Anatolia
- Mediterranean
- Aegean
- Southeastern Anatolia
- Blacksea
- Eastern Anatolia
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Impact of COVID-19 on Turkey Washing Machine Market
5. Voice of Customers
6. Turkey Washing Machine Market Outlook
7. Turkey Front Load Automatic Washing Machine Market Outlook
8. Turkey Top Load Automatic Washing Machine Market Outlook
9. Turkey Semi-Automatic Washing Machine Market Outlook
10. Import & Export Analysis
11. Supply Chain Analysis
12. Product Benchmarking (More than 100 bestselling products)
13. Market Dynamics
14. Market Trends & Developments
15. Policy & Regulatory Landscape
16. Turkey Economic Profile
17. Competitive Landscape
18. Strategic Recommendations
19. About the Publisher & Disclaimer
Companies Mentioned
- 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.
- IFB Industries Limited.
For more information about this report visit https://www.researchandmarkets.com/r/bi4mrj
View source version on businesswire.com: https://www.businesswire.com/news/home/20221005005424/en/