New Consumer Goods research report from Euromonitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 06/10/2014 -- Vacuum cleaners in Turkey continued to record steady growth with a 6% increase in volume sales in 2013. As one of the steadiest categories in consumer appliances, vacuum cleaners has strong competition between a large number of domestic and international brands, and across all price bands. Growth in the average unit price (14% in 2012 and 11% in 2013 in current terms) resulted in higher value growth compared to volume growth. While some players focus on the lower end of sales, targeting lower-income consumers, some players, such as Senur Elektrik Motorlari San ve Tic, invest in innovation and design to capture a strong position in the category.
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Arcelik (brands Arcelik, Beko, and Altus) led standard vacuum cleaners in 2013 with a 33% volume share, followed by BSH Ev Aletleri Sanayi ve Ticaret (Bosch and Siemens) with a 29% volume share. Both companies enjoy strong brand reputations, widespread retail outlets and after-sales service networks. While Arcelik gets ahead by its strong presence in non-metropolitan areas, BSH Ev Aletleri Sanayi ve Ticaret is popular among urban households with a number of technologically-advanced models. Company shares in vacuum cleaners were relatively stable over the review period. Even the recession did not have a significant influence on the volume shares of key players. During the recession, Turkish consumers purchased lower-priced models, and key players such as Arcelik and BSH Ev Aletleri Sanayi ve Ticaret protected their shares as they offered a large number of alternative models at a wide range of prices to meet the demands of Turkish consumers.
Value sales of vacuum cleaners are expected to grow at a constant CAGR of 10% over the forecast period, while volume sales are set to grow at a CAGR of 4%. This is due to expected steady demand for vacuum cleaners. Vacuum cleaners have a very high penetration rate in Turkey, as many home have multiple vacuum cleaners in different formats.
Discover the latest market trends and uncover sources of future market growth for the Vacuum Cleaners industry in Turkey with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Vacuum Cleaners industry in Turkey, our research will save you time and money while empowering you to make informed, profitable decisions.
The Vacuum Cleaners in Turkey market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volumes and values, company and brand market shares
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