Dublin, June 10, 2022 (GLOBE NEWSWIRE) — The report “Turkey Construction Equipment Market – Strategic Assessment and Forecast 2022-2028” has been added to from ResearchAndMarkets.com offer.
Turkey’s construction equipment market is expected to grow at a CAGR of 6.86%
The report examines the current Turkish Construction Equipment market scenario and market dynamics for 2022-2028. It covers a detailed overview of several growth catalysts, restraints, and market trends. The study includes sales volume and value with industry analysis of Turkey Construction Equipment Market.
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.
- The construction industry is expected to generate the highest end-user demand, driven by the “Turkey Eleventh Development Plan 2019-2023” program, which is expected to dominate the construction equipment market over the forecast period.
- The construction equipment market in Turkey 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 network and sustainability.
- Construction equipment rental companies account for the bulk of the market 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 including 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.
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 AS
- Global TSM
- Temsa is Makinalari
Main topics covered:
Chapter 1 Overview
- Market overview
Section 2 Market Overview
- Economic scenario, foreign direct investment
Section 3 Market Landscape
- Turkey Construction Equipment Market by Type (Volume & Value)
- Handling equipment
- Forklift and telehandler
- Aerial platform (articulated platforms, telescopic platforms, scissor lifts, etc.)
- earthmoving equipment
- Backhoe loaders
- Other earthmoving equipment (other loaders, bulldozer, trencher, etc.)
- road construction equipment
- road roller
- asphalt paver
- Turkey Construction Equipment Market by End User (Volume & Value)
- Others (power generation, municipal utilities, oil and gas, cargo handling, power plants, waste management, etc.)
Section 4 Market Dynamics
- Market Drivers, Restraints, Trends, Turkey Advantage, Key Economic Regions, Import/Export Trends, Supply Chain Analysis, Impact of Covid-19
Section 5 Technological Development
Section 6 Competitive Landscape
- Overview of the competitive landscape
- Main suppliers (Xcmg Group – Komatsu Group – Caterpillar – Volvo Construction Equipment – Liebherr Group – Hitachi Construction Machinery – Jcb – Sany Group – Zoomlion – Kubota Corporation – John Deere – Hidromek – Hyundai Doosan Infracore – Yanmar – Kobelco)
- Other Important Suppliers
- Distributor Profiles
Section 7 Quantitative Summary
Article 8 Summary of the report
- key ideas
- List of graphics
- List of paintings
Section 9 Scope and definition of the report
For more information on this report visit https://www.researchandmarkets.com/r/jybp68