London, 26 May 2015: Technavio, the independent tech-focused global research firm, has published a report on the earthmoving equipment market in Turkey 2015-2019, which is expected to grow at a CAGR of 5.88% during the forecast period of 2014-2019.
One major initiative that primarily drives market growth is private investment, especially in core infrastructure such as railways and ports. The entry of private investment has led to an increase in investment and also brings in expertise and technology in construction.
“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,” says Faisal Ghaus, Vice President of Technavio.
“In addition, the government is planning to construct more high-speed railway networks in the country to substantially reduce travel time.”
Key Market Drivers:
- Increase in Construction Spending.
- Vision 2023.
- Replacement of Old Construction Equipment.
Key Market Trends:
- Investment in Transportation and Power Infrastructure Construction.
- Growth of Equipment Rental and Leasing Business.
- Equipment Financing.
Key Market Vendors:
- Çukurova Ziraat.
- HIDROMEK Inc.
- Liebherr-Makìne Tìcaret Servìs Lìmìted Sìrketì (Liebherr Group).
- SANY Turkey (SANY Group Co. Ltd.).
To define the market circumstances 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.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
