The manufacture of electrical equipment sector in Turkey saw a turnover of 250 Billion New Turkish Liras in 2023. From 2024 onward, the forecasted turnover demonstrates a positive growth trend, with values projected to increase from 277.08 Billion in 2024 to 384.89 Billion in 2028. The year-on-year variation percentages for 2024, 2025, 2026, 2027, and 2028 are expected to be 10.8%, 9.9%, 8.9%, 8.1%, and 7.4% respectively. The compound annual growth rate (CAGR) over this five-year forecast period is approximately 8.9%.

Future trends to watch for:

The integration of advanced technologies such as smart grids and IoT in electrical equipment which could drive further growth.
Government policies and incentives aimed at boosting local manufacturing and exports.
The global shift towards greener and renewable energy sources potentially creating new market opportunities.