Deepen the potential huge LED market in Turkey
Turkey is another emerging economy after the "BRIC countries" such as China, Russia, India, Brazil and South Africa. It enjoys the reputation of "new drilling country" in the international community and has become the "Economic Security Council" member. According to data from 2016, Turkey's economy grew by 4.8 percent, making it one of the top five fastest-growing economies in the world.
With the Silk Road economic belt and the 21st century maritime Silk Road construction, China and Turkey once again in close contact, the two sides in infrastructure construction, economic and trade cooperation in a wider range of areas. According to the latest data released by the Turkish Statistical Bureau, the first half of 2016, China-Turkey trade amounted to 13.716 billion US dollars, up 0.73%. Among them, soil imports from China 12.728 billion US dollars, up 2.48%, exports to China 989 million US dollars, down 17.44%. Data show that China's position as the second largest trading partner of soil, Turkey's total foreign trade volume of trade increased by 0.1%, China and Turkey trade deficit expanded 4.61% year on year.
On the LED plate, from the General Administration of Customs data show that in the first half of 2015, China's total exports of LED lighting products about 50 billion US dollars, compared with the first half of 2014 year on year growth rate of 16%, of which exports more than 45 million US dollars in Turkey. 2016 first half of China's top ten key areas of LED products exports amounted to 20.221 billion US dollars, of which the amount of exports of Turkey over 129 million, jumped to 28th.
Although the local economy developed a lot in recent years, the Turkish lighting industry productivity has been greatly improved, but still the lack of light-emitting diode （LED） manufacturers, LED technology is low, high production costs, unable to meet local demand, mainly rely on imports , Then overseas suppliers to bring business opportunities.
As a result of government investment in outdoor lighting replacement, the penetration rate of LED lighting in the next few years will show an exponential rise, replacing the traditional halogen lamps and incandescent lamps in rural areas. The data show that the current lighting and lighting market in Turkey about 350 million US dollars. Market research firm Research and Markets expects 2016 to 2022, the Turkish LED market will grow at a compound annual growth rate of 15.6% by 2022, the market size will reach 344 million US dollars. In the Turkish market, the market for LED signage and billboards is expected to have the highest growth rate.
In addition, Turkey, as its special geographical location, national manufacturers will be regarded as a strategic market. Turkey across the Eurasian continent, north of the Black Sea, south of the Mediterranean, west of the Aegean Sea, so the products are exported to Turkey, the radiation can be to the Middle East, Europe and even Africa and other markets. Turkey has a customs union with the European Union, the EU is Turkey's traditional market; from Turkey to major European countries, the transport only takes 6-11 days. Istanbul, Turkey to a large extent with the European information sharing. The latest information on the European market can be found in the Turkish market. So that enterprises in the fierce competition to seize the opportunity, for the initiative.