PUBLISHED DATE : Apr 2022 | Pages : 110
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The Turkey Construction Equipment Market Research Report includes segments by
110 Pages
15 Tables
67 Charts
1 Regions
1 Countries
21 Companies
4 Market Segment
| Report Attribute | Details |
|---|---|
| MARKET SIZE (2028) | USD 3.17 Billion |
| MARKET SIZE (2022) | USD 2 Billion |
| CAGR (2022-2028) | 6.86% |
| MARKET SIZE – VOLUME (2028) | 30,809 Units |
| HISTORIC YEAR | 2019-2020 |
| BASE YEAR | 2021 |
| FORECAST YEAR | 2022-2028 |
| SEGMENTS COVERED | Earthmoving Equipment, Road Construction Equipment, Material Handling Equipment, and End Users |
| GEOGRAPHIC ANALYSIS | Turkey |
Turkey construction equipment market was valued at USD 2 billion in 2021 and is projected to reach USD 3.17 billion by 2028, growing at a CAGR of 6.86%. The growth in construction equipment is majorly driven by government investment in transportation infrastructure, healthcare projects, and manufacturing.
Turkey's Economy During the Pandemic
Turkey's economy was adversely impacted by the COVID-19 pandemic, which led to a ~5.4% contraction of GDP in 2020. However, according to the Turkish Statistical Institute, in 2020, despite the pandemic, the construction sector grew by 17.3% compared to 2019.
In 2021, the GDP witnessed a growth of ~11%. The government focused on improving its infrastructure by investing USD 18.5 billion in 3,091 projects to boost its transportation and communications sector, including USD 5.7 billion in public transport and logistics and USD 2.7 billion in education. Increased industrial production and exports were the driving force behind Turkey's economic development in 2021.
According to the Turkish Statistical Institute, after a significant rebound from COVID-19 in 2021, GDP growth is expected to ease progressively in 2022 and 2023, with growth of 3.3% and 3.9%, respectively. Turkey's macroeconomic growth is strong, with rising per capita income. Agricultural machinery, construction & mining machinery, energy equipment such as electric motors & turbines, food processing & packaging machinery, HVAC, lifting & handling equipment, metalworking & machine tooling, pumps & compressors, and textile machinery all have plenty of opportunities due to Turkey's strong industrial base and global demand.
Investments in Transport and Healthcare Infrastructure Projects
Turkey's government is investing USD 325 billion in infrastructure projects that include transportation infrastructure, which will support the increase in demand for earthmoving and road construction equipment. The transport projects include USD 80 billion investment in road construction projects, USD 30 billion investment in the high-speed rail network, USD 30 billion in ports, and USD 30 billion in airport infrastructures.
Transport infrastructure projects include the coverage of access rail links such as Ankara - Istanbul HSL (USD 3 billion), Ankara - Sivas - Erzincan HSL (USD 1.2 billion), Istanbul Big Tunnel (USD 3.5 billion), Third Istanbul Airport (USD 6.9 billion), etc. which would be completed by 2023. According to Turkey's Ministry of Transport, Maritime, and Communications, to meet the 2023 targets, the expected expenditure on port development exceeds USD 30 billion.
Turkey's Ministry of Health received USD 7.8 billion in 2021, out of which USD 3.7 billion was allocated for treatment services and USD 1.3 billion for preventative health services. The increased budget in the healthcare department will support the development of healthcare systems in the country, establishing more hospitals. Thirty hospitals are in the pipeline; the total number of beds in these hospitals would 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.
Increase in the Demand for Cranes Due to High Demand for Prefabricated Constructed Buildings
According to the Turkish Construction Equipment Distributors' and Manufacturers' Association, the high demand for modular constructed buildings is expected due to environmental laws in response to pollution concerns.
Although the price of the prefabricated buildings is high, it is not affecting the demand for modular construction in Turkey. According to Turkey's Eleventh Development Plan, it is estimated that most of the newly constructed buildings in Turkey will be prefabricated by 2030 as Turkey's infrastructure developers are majorly adopting the prefab construction technique.
Importing Construction Equipment to be Costlier due to Rise in Inflation Rate
In 2021, inflation in Turkey had been exacerbated by a dramatic fall in the value of the Turkish lira, which lost more than 40% of its value against the United States dollar, resulting in supply chain disruptions and shortages of raw materials. According to the Turkish Statistical Institute, in February 2022 inflation rate in Turkey was at ~50%. The rise in the inflation rate is expected to reduce the import of construction equipment, causing halting the construction projects, adversely impacting the demand for the overall construction equipment market in Turkey.
Russia-Ukraine War to Impact the Production of Construction Equipment
In 2021, Turkey imported USD 27.6 billion and USD 5.2 billion of iron and steel from Russia and Ukraine. Though Turkey is one of the largest exporters of iron and steel, the disruption in the supply chain due to the war will adversely impact the production of construction equipment in Turkey. The reduction in domestic production of construction equipment and the high inflation rate will adversely impact Turkey's demand for construction equipment.
Environmental Policies & Initiatives to Increase Usage of Excavators and Loaders in the Waste Management Industry
The growing wave of waste is creating a political problem for the Turkey government as the country has become Europe's garbage dump. Plastic waste that the European countries claim is recycled, such as the UK. In reality, it is being dumped and burned overseas, causing a health emergency for local people, killing wildlife, and polluting oceans.
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 solid waste generation and promote recycling initiatives. In 2021, Adana (City in Turkey) integrated solid waste management system will be carried out by ITC (Invest Trading & Consulting AG). The project covers rehabilitation of existing dumpsite, construction, and operation of a sorting plant, anaerobic digesters, and installation and operation of a landfill gas utilization plant.
Earthmoving Equipment:
Road Construction Equipment
Material Handling Equipment
End Users
Frequently Asked Questions
HOW BIG IS THE TURKISH CONSTRUCTION EQUIPMENT MARKET?
Turkey construction equipment market was 20,570 units in 2021 and is expected to reach 30,809 units by 2028.
HOW MANY UNITS OF CONSTRUCTION EQUIPMENT ARE EXPECTED TO BE SOLD BY 2028 IN TURKEY?
According to Arizton, around 30,809 units of construction equipment are estimated to be sold by 2028.
WHAT WILL BE THE GROWTH RATE OF THE TURKEY CONSTRUCTION EQUIPMENT MARKET?
Turkey construction equipment market is expected to grow at a CAGR of 6.04% during 2022-2028.
HOW MUCH MATERIAL HANDLING EQUIPMENT WAS SOLD IN 2022 IN TURKEY?
According to Arizton Analysis, around 11 million units of material handling equipment were sold in 2022 in Turkey.
WHO ARE THE DISTRIBUTORS OF CONSTRUCTION EQUIPMENT IN TURKEY?
ENKA Pazarlama Import Export Inc., Maats Construction Machinery Ltd. Sti., Kale Makina Pazarlama A.Ş., TSM Global, Temsa İş Makinaları, and HASEL are the major distributors in the Turkey construction equipment market.
Turkey construction equipment market size is projected to reach USD 3.17 billion by 2028, growing at a CAGR of 6.86%.
The demand for construction equipment in Turkey is expected to continue to be robust over the forecast period. According to the Turkish Statistical Institute, the government has invested $325 billion in public infrastructure projects in 2022. The high demand for prefabricated buildings will also support the demand for cranes in Turkey. Hence, the crane construction equipment in Turkey is expected to grow at a CAGR of 4.97% by 2028.
Base Year: 2021
Forecast Year: 2022-2028
The report considers the present scenario of the Turkey construction equipment market and market dynamics for 2022−2028. It covers a detailed overview of several growth enablers, restraints, and trends in the market. The study includes the volume and value sales with a segment analysis of the Turkey construction equipment market.
Key Vendors
Other Prominent Vendors
Distributors
Segmentation by Earthmoving Equipment:
Segmentation by Road Construction Equipment
Segmentation by Material Handling Equipment
Segmentation by End Users
Section 1 Introduction
1.1 Market Snapshot
1.2 Executive Summary
Section 2 Market Overview
Section 3 Market Landscape
3.1 Turkey Construction Equipment Market by Type (Volume & Value)
3.1.1 Material Handling Equipment
3.1.1.1 Forklift and Telescopic Handler
3.1.1.2 Cranes
3.1.1.3 Aerial Platform (Articulated Boom lifts, Telescopic Boom lifts, Scissor Lifts, etc)
3.1.2 Earthmoving Equipment
3.1.2.1 Excavators
3.1.2.2 Backhoe Loaders
3.1.2.3 Motor Graders
3.1.2.4 Other Earthmoving Equipment (Other Loaders, Bulldozer, Trencher, etc.)
3.1.3 Road Construction Equipment
3.1.3.1 Road Roller
3.1.3.2 Asphalt Paver
3.2 Turkey Construction Equipment Market by End User (Volume & Value)
3.2.1 Construction
3.2.2 Manufacturing
3.2.3 Mining
3.2.4 Others (Power Generation, Utilities Municipal Corporations, Oil & Gas, Cargo Handling, Power Generation Plants, Waste Management, etc.)
Section 4 Market Dynamics
Section 5 Technological Development
Section 6 Competitive Landscape
Section 7 Quantitative Summary
Section 8 Report Summary
Section 9 Report Scope & Definition
LIST OF EXHIBITS
Graph-1 Turkey Construction Equipment Market by Volume 2019–2028 (Unit Sales)
Graph-2 Construction Equipment Market in Turkey by Type, 2021 (% Volume Share)
Graph-3 Turkey Construction Equipment Market by Volume, 2019–2028 (Unit Sales)
Graph-4 Turkey Construction Equipment Market by Value, 2019–2028 ($ MN)
Graph-5 Turkey Construction Equipment Market by End-user, 2021 (%)
Graph-6 Turkey Construction Equipment Market by Type, 2019–2028 (Unit Sales)
Graph-7 Turkey GDP, 2015–2020 ($ BN)
Graph-8 GDP of Major Provinces in Turkey, 2019 ($ BN)
Graph-9 Foreign Direct Investment, Net Inflow, 2016–2020 ($ BN)
Graph-10 Turkey Construction Equipment Market by Type, 2019–2028 (Unit Sales)
Graph-11 Turkey Construction Equipment Market by Type 2021 (% Volume Share)
Graph-12 Turkey Construction Equipment Market by End-user, 2019–2028 (Unit Sales)
Graph-13 Turkey Material-handling Equipment Market, 2019–2028 (Unit Sales)
Graph-14 Turkey Material-handling Equipment Market, 2019–2028 ($ MN)
Graph-15 Turkey Forklift and Telescopic Handlers Market, 2019–2028 (Unit Sales)
Graph-16 Turkey Forklift and Telescopic Handlers Market, 2019–2028 ($ MN)
Graph-17 Turkey Crane Market, 2019–2028 (Unit Sales)
Graph-18 Turkey Crane Market, 2019–2028 ($ MN)
Graph-19 Turkey Aerial Platforms Market, 2019–2028 (Unit Sales)
Graph-20 Turkey Aerial Platforms Market, 2019–2028 ($ MN)
Graph-21 Turkey Earthmoving Equipment Market, 2019–2028 (Unit Sales)
Graph-22 Turkey Earthmoving Equipment Market, 2019–2028 ($ MN)
Graph-23 Turkey Excavator Market, 2019–2028 (Unit Sales)
Graph-24 Turkey Excavator Market, 2019–2028 ($ MN)
Graph-25 Turkey Backhoe Loader Market, 2019–2028 (Unit Sales)
Graph-26 Turkey Backhoe Loader Market, 2019–2028 ($ MN)
Graph-27 Turkey Motor Grader Market, 2019–2028 (Unit Sales)
Graph-28 Turkey Motor Grader Market, 2019–2028 ($ MN)
Graph-29 Turkey Others Market, 2019–2028 (Unit Sales)
Graph-30 Turkey Others Market, 2019–2028 ($ MN)
Graph-31 Turkey Road Construction Equipment Market, 2019–2028 (Unit Sales)
Graph-32 Turkey Road Construction Equipment Market, 2019–2028 ($ MN)
Graph-33 Turkey Road Roller Market, 2019–2028 (Unit Sales)
Graph-34 Turkey Road Roller Market, 2019–2028 ($ MN)
Graph-35 Turkey Asphalt Paver Market, 2019–2028 (Unit Sales)
Graph-36 Turkey Asphalt Paver Market, 2019–2028 ($ MN)
Graph-37 Turkey Construction Equipment Market by Construction, 2019–2028 (Unit Sales)
Graph-38 Turkey Construction Equipment Market by Construction, 2019–2028 ($ MN)
Graph-39 Turkey Construction Equipment Market by Manufacturing, 2019–2028 (Unit Sales)
Graph-40 Turkey Construction Equipment Market by Manufacturing, 2019–2028 ($ MN)
Graph-41 Turkey Construction Equipment Market by Mining, 2019–2028 (Unit Sales)
Graph-42 Turkey Construction Equipment Market by Mining, 2019–2028 ($ MN)
Graph-43 Turkey Construction Equipment Market by Others, 2019–2028 (Unit Sales)
Graph-44 Turkey Construction Equipment Market by Others, 2019–2028 ($ MN)
Graph-45 Import Value of Construction Equipment from Major Countries, 2021 ($ MN)
Graph-46 Export Value of Construction Equipment to Major Countries, 2021 ($ MN)
Graph-47 Market Share: Leaders & Other Vendors 2021 (%)
Graph-48 Komatsu: Consolidated Net Sales, 2018–2020 ($ BN)
Graph-49 Komatsu: Construction, Mining and Utility Equipment Business, Sales by Region, 2020
(% Share)
Graph-50 Komatsu: Breakdown of Net Sales by Segment, 2020 (% Share)
Graph-51 Caterpillar: Total Revenue, 2018–2021 ($ BN)
Graph-52 Caterpillar: Sales by Region, 2020 (% Share)
Graph-53 Caterpillar: Total Revenue by Segment, 2020 (% Share)
Graph-54 Volvo: Construction Equipment Net Sales, 2016–2021 ($ BN)
Graph-55 Volvo: Share of Net Sales by Market, 2021 (% Share)
Graph-56 Volvo: Share of Net Sales by Segment, 2021 (% Share)
Graph-57 Liebherr: Total Revenue, 2016–2020 (% Share)
Graph-58 Liebherr: Revenue by Region (% Share)
Graph-59 Liebherr: Total Revenue by Product Segment, 2020 (% Share)
Graph-60 Hitachi: Revenue, 2020–2021 ($ BN)
Graph-61 Zoomlion: Revenue 2017–2020 ($ BN)
Graph-62 Kubota: Revenue, 2016–2020 ($ BN)
Graph-63 Kubota: Revenue by Segment, 2020 (% Share)
Graph-64 Kubota: Revenue by Region, 2020 (% Share)
Graph-65 John Deere: Revenue 2018–2020 ($ MN)
Graph-66 John Deere: Shareholder Value ($ MN)
Graph-67 John Deere: Net Income ($ MN)
LIST OF TABLES
Table-1 Greenfield Investment in Turkey
Table-2 Investments by Sectors in Turkey
Table-3 Investments by Countries in Turkey
Table-4 Turkey Construction Equipment Market by Volume 2019–2028 (Volume, Units)
Table-5 Turkey Construction Equipment by Type 2019–2018 (Volume, Units)
Table-6 Turkey Material-handling Equipment Market Size & Forecast, by Type (Volume, Units)
Table-7 Turkey Earthmoving Equipment Market Size & Forecast, by Type (Volume, Units)
Table-8 Turkey Road Construction Equipment Market Size & Forecast, by Type (Volume, Units)
Table-9 Turkey Construction Equipment Market Size & Forecast, by End-user (Units)
Table-10 Turkey Construction Equipment Market by Value 2019–2028 (Value, $ MN)
Table-11 Turkey Construction Equipment by Type 2019–2018 (Value, $ MN)
Table-12 Turkey Material-handling Equipment Market Size & Forecast, by Type (Value, $ MN)
Table-13 Turkey Earthmoving Equipment Market Size & Forecast, By Type (Value, $ MN)
Table-14 Turkey Road Construction Equipment Market Size & Forecast, by Type (Value, $ MN)
Table-15 Turkey Construction Equipment Market Size & Forecast, by End-user
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