Chicago, April 28, 2022 (GLOBE NEWSWIRE) -- According to Arizton’s latest research report, the sale of Turkey construction equipment market will grow at a CAGR of 6.8% during the forecast period. According to the government of Turkey, the construction sector is expected to grow by ~5% in 2022 due to improved performance in all subsectors, such as civil engineering, residential buildings, and offices, which will support the demand for construction equipment in Turkey. The crane sales have increased due to the high demand for prefabricated buildings.
Turkey Construction Equipment Market Report Scope
| Report Attributes | Details | |
| MARKET SIZE (2028) | $3 Billion | |
| MARKET SIZE (2022) | 2 Billion | |
| CAGR (2022-2028) | 6.8% | |
| MARKET SIZE – VOLUME (2028) | 30,809 Units | |
| HISTORIC YEAR | 2019-2020 | |
| BASE YEAR | 2021 | |
| FORECAST YEAR | 2022-2027 | |
| SEGMENTS COVERED | Earthmoving Equipment, Road Construction Equipment, Material Handling Equipment, and End Users | |
| GEOGRAPHIC ANALYSIS | Turkey | |
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Key Highlights
- The material handling equipment was the largest segment in the Turkey construction equipment market in 2021. Increasing manufacturing sites and a shift towards modular building and port development projects are driving demand for the material handling equipment market in Turkey. The material handling equipment segment in Turkey is estimated to grow at a CAGR of 5.64% by 2028.
- In 2021, the Turkish government has invested $325 billion in infrastructure projects that include transportation, which will increase demand for earthmoving and road construction equipment.
- Turkey’s Ministry of Health received $7.8 billion in 2021, out of which $3.7 billion was allocated for treatment services and $1.3 billion for preventative health services respectively. The $7.8 billion budget in the healthcare department will support the development of healthcare systems in the country, establishing more hospitals. Currently, 30 hospitals are in pipeline and the total number of beds in these hospitals will be ~40,500. Istanbul Sancaktepe City Hospital (4,200 beds), Ankara Bilkent City Hospital (3,711 beds), Ankara Etlik City Hospital (3,624 beds), etc. are among the hospitals in the pipeline.
- The Turkey government is implementing measures to reduce the amount of waste in landfills and seas. The government has initiated several waste management programs to reduce the generation of solid waste and promote recycling initiatives. This project covers the rehabilitation of existing dumpsite, construction, and operation of a sorting plant, anaerobic digesters, and installation and operation of a landfill gas utilization plant. Due to this, the use of construction equipment such as loaders and excavators has increased in the waste management industry.
- The construction equipment market is consolidated with XCMG emerging as the leader, followed by Komatsu, Caterpillar, Volvo Construction Equipment, Liebherr, and SANY. These companies have nearly 59% share of the total Turkey construction equipment market.
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Report Coverage
Earthmoving Equipment:
- Excavator
- Backhoe Loaders
- Motor Graders
- Other Earthmoving Equipment (Others loaders, Bulldozers, Trenchers)
Road Construction Equipment
- Road Rollers
- Asphalt Pavers
Material Handling Equipment
- Crane
- Forklift & Telescopic Handlers
- Aerial Platforms (Articulated Boom Lifts, Telescopic Boom lifts, Scissor lifts)
End Users
- Construction
- Manufacturing
- Mining
- Others
Increased in Use of Excavators and Loaders in the Waste Management Industry Due to Environmental Policies and Initiatives
According to the Environment Agency's national waste packaging database, in 2021, the UK exported more than 200,000 tons of plastic packaging waste to Turkey. The Turkish government has implemented measures to reduce waste in landfills and seas. The government has initiated several waste management programs to reduce the generation of solid waste and promote recycling initiatives.
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