Market Size of Turkey Washing Machine Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR (2024 - 2029) | 5.31 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Turkey Washing Machine Market Analysis
The Turkey Washing Machine Market is expected to register a CAGR of 5.31% during the forecast period(2024-2029).
Covid-19 negatively impacted the turkey washing machine market by - 4.1%. Due to restrictions over production, workplace, etc., the production closed. In many places, it halted due to the non-availability of workers, resulting in less supply. The growing population and greater purchasing power may stimulate innovation and create jobs, advancing economic growth. As disposable income rises, greater demand for washing machines will drive market growth.
Turkey's washing machine per household revenue will be USD 26.86 in 2023. Volume is expected to amount to 1.98 million pieces by 2028. The Washing Machines segment is expected to show a volume growth of 0.4% in 2024. 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.
Most consumers today are adopting information-centric buying and refer to an average of 3 touchpoints for gathering information before actual purchase. They are looking for product-based solutions that fit the home ecosystem and are open to technology like connected appliances and products to satisfy the increasing convenience and comfort needs. The overarching goal of being able to care for both family and the environment also influences appliance buying decisions.
