The report examines the current scenario of the Spanish Construction Equipment market and the market dynamics for 2022-2028. It covers a detailed overview of several growth catalysts, restraints, and market trends.
New York, May 06, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Turkey Construction Equipment Market – Strategic Assessment and Forecast 2022-2028″ – https://www.reportlinker.com/p06272740/ ? utm_source=GNW
The study includes sales volume and value with segment analysis of the Spanish construction equipment market.
The construction equipment market in Turkey is expected to grow at a CAGR of 6.86%.
• Construction industry is expected to drive the highest end-user demand, driven by “Turkey’s Eleventh Development Plan 2019-2023” program, which is expected to dominate the construction equipment market over the forecast period .
• Turkey’s construction equipment market is moving towards a more innovative industry at a faster pace than other emerging countries in the world by shifting to intelligent systems driven by IoT and data analytics for service, commissioning networking and sustainability.
• Construction equipment rental companies represent the largest market share in Turkey; Due to the large number of SMEs in the construction industry in Turkey, rental companies are expected to have higher demand than non-rental companies.
• In 2021, the Turkish government has invested $325 billion in infrastructure projects that include transport infrastructure, which will increase the demand for earthmoving and road construction equipment. Transport infrastructure projects include $80 billion in investment in road construction projects, $30 billion in investment in high-speed rail networks, $30 billion in ports and $30 billion in airport infrastructure. These transport infrastructure projects include Ankara-Istanbul HSL ($3 billion), Ankara-Sivas-Erzincan HSL ($1.2 billion), Istanbul Grand Tunnel ($3.5 billion) and Istanbul’s Third Airport ($6.9 billion), which are expected to be completed by 2023.
• The Turkish government is implementing measures to reduce the amount of waste in landfills and the seas. The government has launched several waste management programs to reduce the generation of solid waste and promote recycling initiatives. In 2021, the integrated solid waste management system of Adana (city in Turkey) is carried out by ITC (Invest Trading & Consulting AG). The project covers the rehabilitation of the existing landfill, the construction and operation of a sorting plant, anaerobic digesters and the installation and operation of a landfill gas utilization plant. Waste management in Turkey, due to which the use of construction equipment such as loaders and excavators has increased in the waste management industry.
SEGMENTATION OF THE CONSTRUCTION EQUIPMENT MARKET IN TURKEY
• In 2021, the material handling segment was the largest construction industry segment in Turkey, followed by earthmoving and road construction equipment. Forklift was the largest segment by type. However, an excavator was the fastest growing major construction equipment in 2021. The demand for excavators is expected to rise owing to various government investments in infrastructure development and the growth of renewable energy.
Segmentation by earthmoving machinery:
• Backhoe loaders
• Other earthmoving equipment (other loaders, bulldozers, trenchers)
Segmentation by road construction equipment
• Asphalt pavers
Segmentation by material handling equipment
• Forklifts and telehandlers
• Aerial platforms (articulated platforms, telescopic platforms, scissor lifts)
Segmentation by end users
The construction equipment market is consolidating with XCMG emerging as the leader, followed by Komatsu, Caterpillar, Volvo Construction Equipment, Liebherr and SANY. These companies hold nearly 59% of the total construction equipment market in Turkey.
• Volvo EC
• Zoom lion
Other Important Suppliers
• John Deere
• Hyundai Doosan Infracore
• ENKA Pazarlama Import Export Inc.
• Maats Construction Machinery Ltd. Sti.
• Kale Makina Pazarlama A.?.
• Global TSM
• Temsa ?? Makinalar?
Read the full report: https://www.reportlinker.com/p06272740/?utm_source=GNW
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