Large cooking appliances will also benefit from the cross-category trend of improved economic conditions and higher disposable incomes over the forecast period, along with a booming property market. Indeed, home ownership increased towards the end of the review period thanks to the decrease in housing loan interest rates in the last quarter of 2019, along with the government incentive of up to TRY82,000 of non-repayable credit which was offered to first-time home buyers in 2020.
Despite remaining relatively niche, connected devices and smart ovens will continue to attract attention over the forecast period. Urban and affluent consumers are the segment which will stimulate this interest, as their busy lifestyles will increasingly lead to a greater demand for convenience – making cooking easier and faster overall.
Arçelik AS is expected to maintain its leading position over the forecast period, thanks to its strong innovative position, well-known and trusted reputation, range of products and brands to suit all budgets, and aftersales service. Indeed, the local player holds a very strong position across a number of categories in consumer appliances, thus giving it an additional competitive advantage.
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Large Cooking Appliances
The large cooking appliances includes freestanding cookers, built-in ovens, built-in hobs and cooker hoods.See All of Our Definitions
This report originates from Passport, our Large Cooking Appliances research and analysis database.
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