Major appliances industry plans USD 480m investment for 2022

Turkey’s major appliances industry plans to make around USD 480m in investments this year, according to Can Dincer, President of the White Goods Manufacturers’ Association of Turkey (TURKBESD) and CCO of Koc Holding’s home appliances subsidiary Arcelik for Turkey, Pakistan, India, and Bangladesh.

The country’s major appliances industry raised manufacturing by 17% in 2021, according to TURKBESD. The sector’s exports climbed by 18% on a unit basis in six main verticals in 2021 compared to the previous year. Sales by companies that are members of TURKBESD increased by 9%, while the sector’s total sales were up by 16% in the same period.

“Our firms’ white goods sales annually rose by 16% to 34.4 million units in 2021. Exports reached 25.9 million units. These results show that we managed the process well, despite complications such as raw material price hikes and supply chain problems,” said Dincer.

The major appliances industry, which has made important investments in R&D and technology, has the highest number of patents of any sector in the country, according to the TURKBESD President. “As TURKBESD, we plan to increase our investments by more than 30% in 2022 as compared to 2021,” Dincer said, stressing that their planned investments, which will total nearly USD 480m, will focus on additional manufacturing plants, capacity increase, machinery renewal, technological innovation for digital transformation, energy efficiency, and development for green transformation.

Can Dincer also added that the sector’s annual export volume now exceeds USD 4.5bn. “We aim to further increase our exports and meet the changing demands of our customers in the domestic market in 2022,” he noted.

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