Earthmoving Equipment Market in Turkey 2015-2019
About Earthmoving Equipment
Earthmoving equipment is used in the construction industry to move large amounts of earth, dig foundations for buildings, and landscape. Earthmoving equipment include construction tractors, excavators, and loaders. The earthmoving equipment market is one of the major segments in the construction equipment market.
Technavio's analysts forecast the earthmoving equipment market in Turkey to grow at a CAGR of 5.88% over the period 2014-2019.
Covered in this Report
This report covers the present scenario and the growth prospects of the earthmoving equipment market in Turkey for the period 2015-2019. The market size has been calculated based on the total revenue generated from the earthmoving equipment in Turkey. It does not consider the sale of used equipment or the revenue generated from contracts and maintenance.It presents a detailed analysis of key vendors in the market and also presents the share of the top four vendors in the market. In addition, the report discusses the major drivers that influence the growth of the market. It also outlines the challenges faced by vendors and the market at large, as well as the key trends that are emerging in the market.
Technavio Announces the Publication of its Research Report – Earthmoving Equipment Market in Turkey 2015-2019
Technavio recognizes the following companies as the key players in the earthmoving equipment market in Turkey: Çukurova Ziraat, HIDROMEK, Liebherr-Makine Tìcaret Servis Limited Sirketi and Sany Turkey
Other Prominent Vendors in the market are: Hyundai Heavy Industries, SARILAR Group and XCMG
Commenting on the report, an analyst from Technavio’s team said: “The government of Turkey is investing heavily in transportation and power infrastructure development because of increased tourism as well as growth in the urban population. This has increased demand for better transit systems such as railways, airports, and roads, as well as motorways. To fulfill the vision of being one of the top 10 economies in the world, the government is planning to significantly invest in the development of transportation infrastructure. It is planning to liberalize the railway sector to private entities that will undertake the construction and operation of the railway sector. In addition, the government is planning to construct more high-speed railway networks in the country to substantially reduce travel time. Huge investment is also being made for motorways infrastructure. Besides these developments in the transportation infrastructure, the government is also investing heavily in the power and energy infrastructure sectors. The government aims to reduce energy imports by focusing more on domestic production. These infrastructure developments will lead to increased demand for technologically advanced construction equipment in Turkey.”
According to the report, the construction industry in Turkey is growing rapidly as a result of various government initiatives for construction. One of the major initiatives by the government in this sector is allowing private investment, especially in core infrastructure such as railways and ports. Entry of private investment will not only lead to an increase in investment but also bring in expertise and technology in construction. The construction industry has also witnessed huge foreign investment.
Further, the report states that high costs of the manufacturing process and raw materials affect the cost of ownership of construction equipment.
Çukurova Ziraat, HIDROMEK, Liebherr-Makine Tìcaret Servis Limited Sirketi, Sany Turkey, Hyundai Heavy Industries, SARILAR Group, XCMG