Turkish contractors rank second in the world for 8th year in a row
by Daily Sabah
ISTANBULAug 24, 2015 - 12:00 am GMT+3
by Daily Sabah
Aug 24, 2015 12:00 am
According to the list of the 250 largest international construction contractors, Turkey has managed to protect its second place, after China, for the eighth straight year. While the market size of the these companies decreased by 4.1 percent, Turkish contractors increased their revenues along with their share in the market
Turkey again placed second on the list of the 250 largest construction contractors in the world, which is prepared annually by calculating revenues gained from projects outside home countries. Additionally, the number of Turkish contracting companies on the list rose from 42 to 43.
The Engineering News Record (ENR), which is an international magazine for the construction sector, released the list of "The 250 Largest World Construction Contractors" based on contractor revenues from projects outside their home countries over the last year, according to an announcement by the Turkish Contractors Association.
Abu Dhabi International Airport, the United Arab Emirates. Midfield Terminal Complex, constructed by TAV
While there were 42 Turkish contracting companies on the list in 2014, according to data from 2013, this figure rose to 43. Thus, Turkey managed to protect its second place on the list after China, which came first with 65 companies. The U.S. came third following Turkey with 32 companies.
The international construction sector has been one of the sectors affected most by the global economic crisis, and increasing uncertainties for the upcoming period and an unfindable equilibrium point have started to affect the sector. The market size of the largest 250 international construction companies decreased by 4.1 percent to $521.6 billion in 2014 compared to the previous year.
The performance of Turkish contracting companies showed remarkable improvement last year. The total revenues of the 43 Turkish companies placed on the ENR list increased by 43.4 percent to $29.3 billion in 2014 compared to the previous year. Thus, the total share of Turkish companies, which was 3.8 percent in 2013, was 5.6 percent in 2014.
Asghabat Stadium, Turkmenistan. Constructed by Polimeks
While shares of Turkish contractors in regional revenues increased across the world, Turkish companies almost played no part in the North American and Latin American markets. Shares of Turkish contracting companies increased in European, Asian, Middle Eastern and African markets where competitiveness is the fiercest.
While China has the largest market share with 17.2 percent and 65 companies, Spain's market share fell from 14.7 percent to 13.1 percent in 2014 compared to the previous year. Moreover, the market share of the 32 companies from the U.S. decreased from 13 percent to 11.4 percent.
The top 10 Turkish contracting companies on the list are Öztürk, Rönesans, Polimeks, Enka, TAV, Çalık, Tekfen, Ant Yapı, İlk and Yapı Merkezi.
Gotthard Base Tunnel, Switzerland. Constructed by Rönesans
Mithat Yenigün, the president of the Turkish Contractors Association, said that Turkey left its mark on the list, which is followed closely around the world and evaluated as a quality assurance, with 43 companies, 37 of which are members of the association. He also noted they were proud that Turkey had managed to protect second place after China for eight years.
Saying it is pleasing news that the share Turkish companies received from the total revenue rose to a high level, Yenigün stressed that a culture of partnership and union of forces would make further contributions to the companies in international competition.
"Despite problems occurring in Libya and Iraq, a decrease in oil prices, the recent economic slowdown in Russia and international competition that was sharpened by global uncertainties, performances displayed abroad is an important success," emphasized Yenigün.