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Turkey - Refrigerators And Freezers - Market Analysis, Forecast, Size, Trends and Insights

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Article Publishing Date: Jul 11, 2024

Turkey's Refrigerator and Freezer Exports Drop to $3.1 Billion in 2023

Turkey Refrigerator and Freezer Exports

In 2023, overseas shipments of refrigerators and freezers decreased by -14% to 13M units, falling for the second consecutive year after six years of growth. The total export volume increased at an average annual rate of +1.1% over the period from 2013 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 16%. As a result, the exports attained the peak of 15M units. From 2022 to 2023, the growth of the exports failed to regain momentum.

In value terms, refrigerator and freezer exports shrank to $3.1B (IndexBox estimates) in 2023. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 33% against the previous year. As a result, the exports attained the peak of $3.5B. From 2022 to 2023, the growth of the exports failed to regain momentum. Turkey Refrigerator and Freezer Exports By Country (Million USD)

COUNTRY	Export Value of Refrigerator and Freezer in Turkey (million USD)
COUNTRY	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023
United Kingdom	244	238	190	178	162	187	189	211	229	175	193
Germany	197	188	155	163	178	185	167	149	177	176	156
United States	66.6	88.6	96.2	98.7	114	154	108	96.5	167	164	121
Italy	86.8	84.8	69.6	86.1	108	91.1	93.8	87.2	116	105	109
France	141	136	110	101	89.6	110	107	106	130	123	101
Spain	64.9	74.6	72.3	62.7	69.3	68.1	78.0	80.5	80.2	89.2	61.5
Sweden	47.2	50.2	42.8	52.4	44.5	46.2	40.9	43.5	53.7	48.5	56.8
Israel	63.0	48.1	45.7	53.5	56.0	43.2	42.5	51.1	66.1	67.7	50.7
Others	2,018	1,982	1,707	1,815	1,857	2,005	1,899	1,838	2,520	2,444	2,268
Total	2,928	2,890	2,489	2,611	2,679	2,890	2,725	2,663	3,539	3,394	3,118

Exports by Country

the UK (979K units), Germany (595K units) and Italy (511K units) were the main destinations of refrigerator and freezer exports from Turkey, with a combined 16% share of total exports. France, Spain, Sweden, Israel and the United States lagged somewhat behind, together comprising a further 10%.

From 2013 to 2023, the biggest increases were recorded for the United States (with a CAGR of +10.3%), 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 ($193M), Germany ($156M) and the United States ($121M), with a combined 15% share of total exports.

the United States, with a CAGR of +6.1%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Exports by Type

Combined refrigerators-freezers (7.8M units) and household refrigerators and freezers (not combined) (5.1M units) were the main products of refrigerator and freezer exports from Turkey.

From 2013 to 2023, the most notable rate of growth in terms of shipments, amongst the major product types, was attained by combined refrigerators-freezers (with a CAGR of +3.3%).

In value terms, refrigerators and freezers with the largest exports in Turkey were combined refrigerators-freezers ($2B) and household refrigerators and freezers (not combined) ($1.1B).

Combined refrigerators-freezers, with a CAGR of +1.6%, recorded the highest growth rate of the value of exports, among the main product categories over the period under review.

Export Prices by Country

In 2023, the refrigerator and freezer price stood at $242 per unit (FOB, Turkey), surging by 6.8% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by 14%. Over the period under review, the average export prices hit record highs at $261 per unit in 2014; however, from 2015 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was Egypt ($319 per unit), while the average price for exports to Poland ($187 per unit) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (+2.3%), while the prices for the other major destinations experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
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. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
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
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023

Turkey - Refrigerators And Freezers - Market Analysis, Forecast, Size, Trends and Insights

Turkey's Refrigerator and Freezer Exports Drop to $3.1 Billion in 2023

Turkey Refrigerator and Freezer Exports

Exports by Country

Exports by Type

Export Prices by Country

Product coverage:

Country coverage:

Data coverage:

Reasons to buy this report:

1. INTRODUCTION

2. EXECUTIVE SUMMARY

3. MARKET OVERVIEW

4. MOST PROMISING PRODUCT

5. MOST PROMISING SUPPLYING COUNTRIES

6. MOST PROMISING OVERSEAS MARKETS

7. PRODUCTION

8. IMPORTS

9. EXPORTS

10. PROFILES OF MAJOR PRODUCERS

LIST OF TABLES

LIST OF FIGURES

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