Trends and Markets: Turkey: the AC market is expanding rapidly
Thanks to its efforts to achieve EU membership, Turkey has also gained success in its economy: at the end of 2005, it became the 22nd exporter and the 14th importer (90 billion €) worldwide. The HVAC&R industry grew four times more than overall Turkish economy: estimated total turnover of the air conditioning and part of the refrigeration sector is 680 million € production, 240 million € exports, 535 million € imports. The segment of split air conditioners (especially mono splits) showed the biggest increase on the market: production, which was 106 000 in 2001, was 964 000 in 2005 (39% exports). Since the greater part of the 70 million population lives in relatively warm parts of the country, there is still a large potential for the air-conditioning market which is far from saturation level.