The market is dominated by foreign suppliers, as imports account for 68.3% of total market size in 2023. Households drive market demand, with household spending representing 89.4% of total demand in 2023. Turkey has the 15th largest market size for musical instruments regionally, with demand reaching USD66.1 million in 2023. Er Alp Muzik Standlari San ve Tic Ithalat Ihracat Ltd Sti is the largest company in Turkey, generating 10.6% of the industry’s total production value in 2023. The industry is fragmented, with the top two companies generating 14.0% of total production value in 2023. The total number of companies increases in 2023, to 484 units. The costs of the industry increase by 28.6% in 2023, largely driven by rising labour costs. The industry’s profitability increases and stands at 4.8% of production value in 2023, the 20th highest regionally. The industry’s exports share decreases in 2023 to 38.6% of total production output. With production value of USD39.5 million, Turkey accounts for 1.6% of the Western Europe total in 2023.
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This Euromonitor industrial report provides unique information on Musical Instruments in Turkey: ISIC 3692. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Musical Instruments in Turkey: ISIC 3692 report includes: Industry datagraphics including production data, exports, imports, cost structure, and profitability
Household Goods is an aggregation of Furniture, Jewellery and Related Articles, Musical Instruments; Imitation Jewellery, Brushes and Other Personal Items, Sports Goods, Toys and Games, Watches and Clocks.
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