DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/hrzmzl/excavator_market) has announced the addition of the "Excavator Market in Turkey 2015-2019" report to their offering.
The excavator market in Turkey to grow at a CAGR of 6.25% over the period 2014-2019.
The demand for excavators in Turkey is rapidly increasing because the government of Turkey is investing in large infrastructure construction projects such as the Istanbul high-speed railway, IGA airport, and Akkuyu nuclear power plant.
The report covers the present scenario and the growth prospects of the excavator market in Turkey for the period 2015-2019. The market size has been calculated based on the total revenue generated from the sales of excavators in Turkey. It does not consider the revenue generated from the sale of used equipment or from contracts and maintenance.
The report also presents a detailed analysis of the four key vendors and their share in the market. In addition, it 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 emerging in the market.
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. All equipment manufactured henceforth must conform to this new emission regulation. An example of this is the new Cat 323D L Series 2 hydraulic excavator launched by Caterpillar in May 2015.
According to the report, the demand for excavators is increasing rapidly in Turkey because of large-scale construction projects. The government is investing heavily in large-scale infrastructure construction projects such as the Ankara-Istanbul high-speed railway, the IGA airport, and the Akkuyu Nuclear Power Plant.
Further, the report states that the manufacturing costs of excavators are high, owing to the rise in raw material prices. This reduces manufacturers' profit margins, which affects market growth. There is also a shortage of skilled labor.
Key Vendors
- Çukurova Ziraat
- HIDROMEK
- Liebherr-Makìne Tìcaret Servìs Lìmìted Sìrketì (Liebherr Group)
- SANY Turkey (SANY Group)
Other Prominent Vendors
- Hyundai Heavy Industries
- SARILAR Group
- XCMG
For more information visit http://www.researchandmarkets.com/research/hrzmzl/excavator_market
