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2. Turkish equipment market hits record high

Sales of construction equipment in Turkey hit a record high of almost 19,000 units in 2023. It was a dramatic turnaround from the low 3,300 machines sold in 2019.

Prior to the downturn in the late 2010s, the market in Turkey had held steady at around 11,000 machines per year. A deterioration in the economic and political climate saw a dramatic fall in 2018 and 2019, but the turnaround since then has been equally remarkable, according to Off-Highway Research’s new Special Report, The Construction Equipment Industry in Turkey.

The unnaturally low level of sales in the late 2010s meant there was pent-up demand for equipment at the start of this decade. Sales boomed, as they did in most other markets during the pandemic, and some of China’s leading OEMs were able to benefit due to the supply difficulties which more established suppliers experienced during the Covid years. More recently, the devastating earthquake of February 2023 drove a huge need for equipment to help with recovery and reconstruction work.

Inevitably sales are now falling back from the high of 2023, but the new natural level for machine demand in the country is expected to stay above 15,000 units per year. Backhoe loaders, crawler excavators, mini excavators and wheeled loaders will continue to be the most important high-volume products, while the telehandler market in Turkey is expected to continue to mature and represent significant annual sales.

At more than 200 pages, The Construction Equipment Industry in Turkey is believed to be the most detailed and extensive report ever published on the country’s industry. It covers the market development and provides a forecast for the mainstream earthmoving, compact, road building and lifting machine types. Profiles of the country’s major equipment producers and distributors are also included.

The report is now available to buy online here, or contact [email protected] for more details.