The production in the manufacture of electrical equipment sector in Turkey has observed consistent growth from 2013 to 2023. In 2023, the value stood at 236.15 billion New Turkish Liras. Over the past decade, the sector has experienced periods of considerable year-on-year growth, primarily due to advancements in technology and increased demand for electrical equipment.

Notable trends include significant growth spurts in 2017 (29.08%) and 2020 (29.8%). In the last two years, the sector exhibited a slightly tempered yet robust growth, with year-on-year variations of 14.85% in 2022 and 12.8% in 2023. The average annual growth rate over the past five years (CAGR) has remained strong at 16.3% up to 2023.

Future trends to watch for:

Forecasted growth continues at a slower pace, with a 5-year CAGR of 6.87% from 2024 to 2028.
Advancements in green energy technology, increasing automation, and smart equipment integration.
Potential volatility due to economic factors and global supply chain disruptions.