Electrical Equipment Market in Turkey 2016-2020

Outlook of the electrical equipment market in Turkey

The prospects for growth in the electrical equipment market in Turkey will be heavily dependent on the recovery of the housing market in Turkey as it will lead to an increase in the demand for products like electrical and electronic wires and cables and lighting equipment.  Due to the growth of the housing market in this region, the consumption of products, especially by residential end users will increase significantly. Turkey has ranked among the top five countries that witnessed the highest growth rate in housing prices. Consequently, the spending on household products such as electric lighting equipment has also increased. During the forecast period, this increase in the spending on electrical appliances will, in turn, foster the prospects for growth in the electrical equipment market in Turkey. Extensive market research carried out by the analysts at Technavio has shown that the electrical equipment market in Turkey will grow moderately at a CAGR of almost 3% by 2020.

The growing focus on innovation in lighting equipment will be the key driver for the growth of this market. Recently, manufacturers of electric lighting equipment have been focusing on the introduction of new products with enhanced aesthetic appeal. Innovations pertaining to lighting products have facilitated the export of products such as chandeliers, ceiling and wall lighting fixtures, and electric lamps during the forecast period. In addition to innovations in design, manufacturers have also started focusing on the introduction of energy-efficient lighting products as it will help them to bolster their revenue generating capacity. Factors such as the import of new technologies that support the development of energy-efficient products, in-house R&D, symposiums, and strategic partnerships will result in the strong growth of this market over the next few years.

Product-based segmentation of the electrical equipment market in Turkey

• Electronic and electrical wires and cables
• Electric lighting equipment
• Batteries and accumulators
• Wiring devices
• Others (appliance cords, electric bells and related apparatus, electrical door opening and closing devices, and extension cords)

In this market study, Technavio’s market research analysts have observed that the electronic and electrical wires and cables segment dominated this market and accounted for an impressive market share of more than 50% during 2015. The presence of a strong wire and cable manufacturing tradition in the country is a critical factor that will impel the prospects for growth in this market segment during the predicted period. In addition, factors such as the manufacturer’s focus on the development of new products like fiber optic cables will also aid in the growth of this market segment during the estimated period.

End-user segmentation of the electrical equipment market in Turkey

• Residential end use
• Non-residential end use

During 2015, the non-residential end-use segment dominated this market and accounted for approximately 60% of the overall market share. In this market research report, analysts have estimated both the segments to grow at rates that are close and comparable to each other. Since a majority of the manufacturers in the electrical equipment market in Turkey offer products to both end-use segments, both residential and non-residential sectors will exhibit impressive growth over the next four years.

Competitive landscape and key vendors

The electrical equipment market in Turkey is fragmented owing to the presence of more than 500 manufacturers. Though this market contains a multitude of manufacturers, only a few foreign players and some indigenous manufacturers dominate the market shares. The level of competition in this market is also high, with key manufacturers focusing on the development and introduction of technologically advanced products.

Leading vendors in the market are -

• AY Yapı Elemanları
• Aktel Elektronik
• Altez Elektronik
• AR Elektrik
• ArchLED
• Assan Elektronik
• Atom Kablo
• Aykon Led
• Bahar Aydınlatma
• Baytaş
• Coreal Alüminyum Kablo
• Demirer Kablo
• Erdil Aku
• Esan Aku
• Fagerhult
• Gunsan Elektrik
• Has Celik
• HES Kablo
• Inci Aku
• LiTPA
• Mutlu Batteries
• Nexans
• Ozler Kablo
• Öznur Kablo
• Pamukkale Kablo
• Prysmian Group
• Sartel Kablo
• Seval Kablo
• Unika Universal Kablo
• Viko Elektrik
• Vito Electric
• Yigit Aku

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 electrical equipment market in Turkey?
• What are the key market trends impacting the growth of the electrical equipment market in Turkey?
• What are the challenges to market growth?
• Who are the key vendors in the electrical equipment market in Turkey?
• What are the market opportunities and threats faced by the vendors in the electrical equipment market in Turkey?
• Trending factors influencing the market shares of Turkey.
• What are the key outcomes of the five forces analysis of the electrical equipment market in Turkey?

Technavio also offers customization on reports based on specific client requirement.

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