Turkey HVAC Market to increase at a CAGR of 5.31% from 2016-2022

10 Jun 2016
Turkey HVAC Market to increase at a CAGR of 5.31% from 2016-2022

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With emerging demand for HVAC products in Turkey due to high urbanization rate and increase in construction and renovation of sites, Turkey’s HVAC market is both, evolved and dynamic. According to the market study undertaken, by BIS Research, titled Turkey Heating, Ventilation and Air Conditioning (HVAC) Market- Forecast & Analysis, 2016 – 2022 that acknowledges the growth and trends of the Turkey HVAC market, the market is estimated to increase at a CAGR of 5.31% from 2016-2022, in terms of volume. The analyst at BIS Research states, “Turkey has a robust HVAC industry base with strategic tie ups with the educational and research institutions which contributes to the development of energy efficient HVAC technologies. The market is foreseen to have high growth potential by the end of 2022 in order to meet the domestic consumption demand.”

1.    Growth & Economy (GDP Growth Rate)Turkey Real GDP Growth Rate (%)
 
Note: “e” stands for estimates; “f” stands for forecast

The figure 1 shows the factors considered for study. Stable political and social environment along with a young qualified and competitive labor force has been the source of positive GDP growth over the years and will continue the growth trend from the period 2016-2022. Turkey has been following export led growth model striking a balance between domestic consumption and global market demand which is evident from its export data. The increase in disposable income has contributed to growth in the consumption expenditure over the years.

Additional information is provided in the Turkey Heating, Ventilation and Air Conditioning (HVAC) Market- Forecast & Analysis, 2016 – 2022 report by BIS Research. The report aims to help decision makers take sound investment related decisions by providing relevant answers to the major aspects of the industry including market drivers and opportunities, factors and type of products to understand the industry. The study also incorporates qualitative models such as Porter’s Five Forces Analysis and Supply Chain Analysis to provide an in-depth analysis of the market. The report includes profiles of Daikin, United Carriers, Zamil AC, Samsung, Midea Group, among others in the market players section and it answers all the major aspects which include market dynamics, Macro and Micro factors which may lead to growth of HVAC market in Turkey.

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