Demand, prices rise for air conditioners amidst heatwave

Arzu Kurum- ISTANBUL

Türkiye is experiencing an unprecedented demand for air conditioners due to prolonged summer heatwaves and global climate change.

The surge in demand had driven the market value of air conditioning units past $2 billion.

According to industry experts, the demand for air conditioners has skyrocketed as homeowners invest in cooling solutions, spurred by the anticipation of further price increases.

“Consumers have been investing in air conditioners since April with the concern that prices will rise even more,” said Daikin Türkiye General Manager Hasan Önder.

The market for split air conditioners alone has reached 1.9 million units, with expectations to hit 2.5 million units by year-end, as per Air Conditioning and Refrigeration Manufacturers Association (İSKİD) statistics.

“While the global air conditioning market volume is expected to reach $207.1 billion this year, the domestic market size in Türkiye is expected to exceed $2 billion,” Önder added.

Domestic market sales have remained robust, with air conditioner prices ranging from 20,000 Turkish Liras to 55,000 liras. Önder noted, “The recent increase in the price of imported products has also pushed prices up. Product price increases are inevitable.”

The intense demand has led to challenges in keeping up with supply. “In some brands, it may take a long time for the desired product to arrive,” Önder acknowledged.

Despite this, companies have made preparations and increased stock levels. However, Daikin Türkiye Deputy CEO Olcay Avcı revealed, “There was more demand than expected, so sales were well above last year.”

Consumers have shown a preference for mid-range products, particularly those with high energy efficiency, according to İSKİD.

In the fan market, sales have also risen significantly, with many products leaving shelves quickly and even finding their places in the black market.

There have been reports of inflated prices due to supply shortages. “Factories do not provide materials and raise prices,” Muhammet Kartal, a fan seller, said.