Boston, MA -- (SBWire) -- 06/04/2014 --In the face of rising electricity and natural gas costs, Turkish consumers are seeking more-energy-efficient products to reduce heating bills. Instead of looking for the cheapest products, consumers are beginning to take into consideration long-term running costs of alternative products before making their purchasing decisions. Manufacturers are trying to introduce more-energy-efficient products with improved technologies. Retailers, on the other hand, are helping consumers to calculate the long-term costs of committing to a particular purchasing decision. Consumers are also seeking advice from friends, relatives and online resources to make better-informed decisions. Consumers rarely use heating appliances as the only source of heating, yet considering the increase in natural gas prices they prefer to use heating appliances as supplements to existing heating systems, whether it is a central heating system or a combi boiler installed for personal use. To keep natural gas bills below a desired level, consumers try to trade off between operating their combi boilers and heating appliances. In warmer autumn and early spring months, they rely more on heating appliances than central heating or combi boilers. Only in warmer areas, such as western and southern coastal regions, can heating appliances can be used as the single source of heating throughout the year.
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Competitive Landscape
NNR Ltd, with its Ufo brand, held the largest volume share of 45% within heating appliances in 2013. As the company focuses on the manufacture of heating appliances, as well as air treatment appliances (cooling fans and air purifiers), its brand Ufo is widely recognised as an infrared heater (electric fire) brand. Becoming a generic brand in infrared heaters, Ufo is responsible for the growing penetration of infrared heaters. While the quickly-growing category of heating appliances is opening up lucrative opportunities for other players, NNR Ltd maintains its leading position through heavy advertising and extensive product coverage.
Industry Prospects
Value sales of heating appliances are expected to grow at a constant CAGR of 8% over the forecast period, while volume sales are set to grow at a CAGR of 5%, reaching 2.1 million units in 2018. Heating appliances are not only used as primary sources of heat, they are also used as supplements to primary heating sources, such as combi heaters, when running the latter becomes too costly or fuel shortages require an additional heat source in the winter.
Report Overview
Discover the latest market trends and uncover sources of future market growth for the Heating Appliances industry in Turkey with research from Euromonitor's team of in-country analysts.
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