Automotive Industry in Turkey 2016-2020
Outlook of the automotive industry in Turkey
Technavio’s market research analyst has estimated that in terms of production capacity, the market for automobiles in Turkey will grow at a CAGR of over 3% by 2020. The automotive industry is crucial to Turkey’s economy as it contributes a significant amount to the country’s overall GDP. In this region, the manufacturers are focusing more on sourcing components, spares, and accessories that are manufactured locally as it will help to impel growth opportunities for manufacturers of motor vehicle spares and accessories during the next few years. Additionally, it has also been observed that the Turkish government has been encouraging manufacturers of automotive spares and accessories to set up and expand their manufacturing facilities in the country by providing subsidies. These government initiatives, coupled with the recent increase in automobile production will attract investments from manufacturers of automotive spares and accessories, and will foster the prospects for growth in this market until the end of the forecast period.
According to this market research report, an important trend facilitating growth in this market is the augmented adoption of electronic components in vehicles. In recent times, it has been observed that the incorporation of electrical and electronic systems, such as those used to monitor temperature, emissions, voltages, current, vacuum, and torque has increased drastically. This recent increase in the implementation of electrical systems can be attributed to the shift in customer preference toward automobiles incorporated with advanced electronics and differentiated accessories. This shift in the consumer’s preference will propel the demand for devices like infotainment systems and active and passive safety systems over the next four years.
Product-based segmentation of the motor vehicle spares and accessories market in Turkey
- Electrical and electronic equipment for motor vehicles
- Other parts and accessories for motor vehicles
During 2015, the electrical and electronic equipment segment dominated this market and accounted for an impressive market share of approximately 60%. Much of this growth can be attributed to the automotive OEM’s focus on adding value to their automobiles through the provision of unique and advanced electrical and electronic systems.
Competitive landscape and key vendors
The automotive industry in Turkey is marked by the presence of many well-established global manufacturers and some regional players. The international players in the market are increasingly investing in R&D to consolidate their position in the market and are also acquiring smaller companies to retain their market shares. The competitive environment in this market is expected to intensify with an increase in product lines and adoption of advanced technology.
Key leading vendors in the market are -
- Akim Metal
- Armetal Makina Metal
- Assan Hanil Otomotiv
- Autoliv Cankor Otomotiv Emniyet Sistemleri
- Bant Boru
- Baskurt Motor Ve Kablo
- Beycelik Gestamp Sasi Otomotiv
- Cavo Otomotiv
- Chassis Brakes International Otomotiv
- Dinex Egzoz Ve Emisyon Teknolojileri
- Ege Endustri
- Ege Fren
- Egemet Ege Metal Dovme
- Eku Fren Ve Dokum
- Ermetal Otomotiv Ve Esya
- Farplas Oto Yedek Parcalari
- Faurecia Polifleks Otomotiv
- Feka Otomotiv Mamulleri
- Filkar Otomotiv
- Haksan Otomotiv Mamulleri
- Hatko Teknik Donanimlar Mumessillik
- Ika Makina Yedek Parca Isn Otomotiv
- Kanca El Aletleri Dovme Celik Ve Mak
- Kardes Elektrik
- Kormas Elektrikli Motor
- Nursan Elektrik Donanim
- Opsan Orijinal Sac Parca
- Pimsa Otomotiv
- Sanel Sanayi Elektronigi Imalat
- Unuvar Elektronik
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the automotive industry in Turkey?
- What are the key market trends impacting the growth of the automotive industry in Turkey?
- What are the challenges to market growth?
- Who are the key vendors in the automotive industry in Turkey?
- What are the market opportunities and threats faced by the vendors in the automotive industry in Turkey?
- Trending factors influencing the market shares of Turkey.
- What are the key outcomes of the five forces analysis of the automotive industry in Turkey?
Technavio also offers customization on reports based on specific client requirement.