Turkey: Refrigerator Or Freezer Market 2024

Refrigerator Or Freezer Market Size in Turkey

The Turkish refrigerator or freezer market dropped to $X in 2022, waning by -7.3% against the previous year. In general, consumption, however, showed a perceptible setback. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Refrigerator Or Freezer Production in Turkey

In value terms, refrigerator or freezer production contracted sharply to $X in 2022 estimated in export price. Over the period under review, production enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2015 when the production volume increased by 72%. Refrigerator or freezer production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Refrigerator Or Freezer Exports

Exports from Turkey

In 2022, overseas shipments of furniture designed to receive refrigerating or freezing equipment increased by 19% to X units, rising for the third consecutive year after two years of decline. Overall, exports posted strong growth. The pace of growth appeared the most rapid in 2016 when exports increased by 192%. The exports peaked at X units in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, refrigerator or freezer exports rose markedly to $X in 2022. Over the period under review, exports continue to indicate a significant increase. The growth pace was the most rapid in 2016 with an increase of 230%. The exports peaked in 2022 and are likely to continue growth in the near future.

Exports by Country

The UK (X units), Libya (X units) and Norway (X units) were the main destinations of refrigerator or freezer exports from Turkey, with a combined 41% share of total exports. Mauritius, Germany, Iraq, Saudi Arabia, China, the United Arab Emirates, the Netherlands, Ukraine, the United States and Mauritania lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2022, the biggest increases were recorded for Mauritania (with a CAGR of +103.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), Norway ($X) and Germany ($X) constituted the largest markets for refrigerator or freezer exported from Turkey worldwide, together comprising 46% of total exports. Libya, Saudi Arabia, Iraq, China, Mauritius, the Netherlands, the United Arab Emirates, the United States, Ukraine and Mauritania lagged somewhat behind, together comprising a further 31%.

Among the main countries of destination, Mauritania, with a CAGR of +96.0%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average refrigerator or freezer export price amounted to $X per unit, with a decrease of -5.3% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 22% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2021, and then shrank in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Norway ($X per unit), while the average price for exports to Mauritius ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Norway (+11.0%), while the prices for the other major destinations experienced more modest paces of growth.

Refrigerator Or Freezer Imports

Imports into Turkey

After two years of growth, purchases abroad of furniture designed to receive refrigerating or freezing equipment decreased by -4.8% to X units in 2022. In general, imports, however, showed a resilient increase. The growth pace was the most rapid in 2021 with an increase of 881% against the previous year. As a result, imports reached the peak of X units, and then shrank in the following year.

In value terms, refrigerator or freezer imports reduced to $X in 2022. Overall, imports, however, posted a buoyant increase. The pace of growth was the most pronounced in 2021 when imports increased by 569%. As a result, imports reached the peak of $X, and then reduced in the following year.

Imports by Country

Italy (X units), Germany (X units) and the Netherlands (X units) were the main suppliers of refrigerator or freezer imports to Turkey, with a combined 82% share of total imports. The Czech Republic, China, Denmark, South Korea and the UK lagged somewhat behind, together comprising a further 17%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Czech Republic (with a CAGR of +128.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest refrigerator or freezer suppliers to Turkey were Italy ($X), the Netherlands ($X) and the Czech Republic ($X), with a combined 82% share of total imports.

The Netherlands, with a CAGR of +108.0%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average refrigerator or freezer import price stood at $X per unit in 2022, falling by -2.2% against the previous year. Overall, the import price, however, saw mild growth. The pace of growth was the most pronounced in 2019 when the average import price increased by 116%. As a result, import price reached the peak level of $X per unit. From 2020 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Czech Republic ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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