- The key vendors in the excavator market in Turkey 2015-2019 are Çukurova Ziraat, HIDROMEK Inc., Liebherr-Makìne Tìcaret Servìs Lìmìted Sìrketì (the Liebherr Group) and SANY Turkey (SANY Group Co. Ltd)
London, 18 June 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the excavator market in Turkey 2015-2019. Growth of equipment rental and leasing business is one of the key trends emerging in the market. Leading vendors in Turkey such as SANY are offering rental and lease services to their customers. Equipment can be rented on a daily or annual basis, where the lease period is often less than the average lifetime of the equipment. This allows construction companies to utilize the equipment without major investment. The excavator market in Turkey is estimated to grow at a CAGR of 6.25% during the forecast period of 2014-2019.
The privatization of core infrastructure facilities such as railways and airports has led to increased investment opportunities in transport infrastructure construction. Moreover, government initiatives to reduce energy imports by increasing domestic production will invite further investment in energy sector construction.
“Emission reduction in construction equipment is a major focus for the EU. It aims to reduce CO2 emission by 80-95% by the end of 2050,” says Faisal Ghaus, Vice President of Technavio Research.
“Old excavators do not meet the current emission standards, and therefore are being replaced with new excavators that comply with the regulation standards.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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