Japanese air conditioner manufacturer Daikin plans to invest €100 million ($115 million) in Turkey to establish it as an export base for the Middle East and Africa.
The investment will be spread over five years, Hasan Onder, CEO of Daikin Turkey, told the Anadolu news agency.
The air conditioning sector is growing steadily in Turkey and will continue to do so until 2030 despite geopolitical risks, he said.
Ownership stands at just 15-20 percent in Turkey, indicating significant growth potential even as Europe slows, according to Onder.
Sales in Turkey of split air conditioners – indoor and outdoor sections linked through a wall by pipes – are projected to reach 2.2 million units by the end of the year, he said.
Daikin posted turnover of $803.8 million in 2024, including $459.4 million in exports. It expects to close 2025 with $942 million in revenue, of which $517 million will come from exports.
The company manufactures split air conditioners at a plant in Sakarya province, northwestern Turkey. It has an annual capacity of 1 million units and mainly supplies European markets.
Daikin currently employs 2,000 workers in the country and aims to increase its workforce to 2,500 by 2030.
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