Turkey Elevator and Escalator Market Size and Growth Forecast Report 2022-2028: Expanding Infrastructure and Commercial Construction to Increase Demand for Escalators – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–Report “Turkey Elevator and Escalator – Market Size and Growth Forecast 2022-2028” has been added to from ResearchAndMarkets.com offer.

Expansion of infrastructure and commercial construction to increase demand for escalators

The British government is helping to fund a new 503 kilometer high-speed electric railway line in Turkey that will link the capital, Ankara, to the port city of Izmir. The $2.31 billion green financing was led by Credit Suisse and Standard Chartered Bank and guaranteed by UK Export Finance (UKEF) through its Buyer Credit Scheme.

While the existing Class A office supply in Istanbul reached 5.8 million m² GLA (gross leasable area) at the end of 2021, there is approximately 1.6 million m² of office supply under construction, and the total supply of Class A offices is expected to exceed 7.4 million m² GLA by the end of 2023.

According to the Association of Malls and Investors (AYD), before Covid-19, Turkey had a total of 433 malls and 13.5 million square meters of rental space. 8 newly opened shopping malls and an additional area of ​​500,000 square meters have been added, and the total number of shopping malls has reached 441, while the leasable area has increased to about 14 million square meters in 2021. The growing demand for shopping malls to drive the demand for elevators.

Redesigning cities through the Urban Transformation Action Plan to drive demand for the installation of energy-efficient elevators.

The AFD (French Development Agency) has extended its support for the financing and acquisition of energy-efficient housing in Turkey. This $283,060 (€270,000) technical assistance component, which began in December 2020, supports collaboration with key industry players to boost production and demand for green housing in the Turkish market. The government will provide financial support of up to $2.7 billion for climate-friendly projects by municipalities, Environment, Urbanization and Climate Change.

The Ministry of Environment and Urbanism, which is a major authority on urban transformation, announced in 2017 that nearly half of the 15 million homes are at risk of disaster. In May 2018, the Ministry of Environment and Urban Planning declared a total of 188 risk areas.

Thus, the Ministry of the Environment and Urban Planning has launched an ambitious action plan for a redesign of cities. The Urban Transformation Action Plan aims to demolish old buildings at risk, replace them with sustainable living spaces and improve town centers and historic sites. According to this plan, at least 300,000 units will be demolished and replaced by new ones in five years, including 100,000 in Istanbul.

Governments are striving to expand infrastructure across the country to increase the demand for new facilities.

As part of its plans to expand its portfolio in Turkey, Marriott International is expected to open 10 hotel projects by the end of 2022. With upcoming projects, the company’s portfolio in Turkey is expected to include 43 properties with more than 7,000 rooms by the end of 2022. Reinforcing its long-term focus on the market, the company also announced two recent deal signings under the Four Points by Sheraton brand.

The $1.25 billion projects will be implemented by a joint venture led by China National Machinery (CMC) and Tasyap, Turkey. The project includes 22 stations and extends over 21.2 km. The route goes from Necmettin Erbakan University to Meram Municipality.

The Kocaeli Metropolitan Municipality has launched the works of the metro project estimated at 885 million dollars. The new line will connect Gebze, a powerful industrial center, and Darica, two towns on the coast of the Sea of ​​Marmara. The metro line will have two tunnels, each 15.6 km long, 6.5 m wide and 12 stations. The line is expected to be commissioned in 2022.

Standard Inspection Framework by Ministry of Industry and Technology to Create Demand for Elevator Maintenance in Turkey

2,790 organizations have received Service Adequacy Certificate (HYB) from Turkish Standards Institute for Elevator Repair and Maintenance. According to the “Industry Register Law”, 335 component manufacturers and 2,749 elevator assembly and elevator component manufacturing enterprises have industrial registration.

Periodic control of lifts is carried out by type A inspection bodies, which have signed protocols with the competent administrations, after having been authorized by the Ministry of Industry and Technology in accordance with the regulations on the periodic control of elevators.38 different type A inspection bodies have been authorized by the Ministry of Industry and Technology and made public was announced in 2020.

The digital economy approach boosts the long-term growth potential of Turkey’s modernization market by integrating emerging technologies. Brands such as Otis, KONE, Schindler and Mitsubishi now use systems that can be used to send commands to modem-connected hardware placed in controllers via modules developed by cloud providers such as IBM, Amazon and Google to global manufacturers or accessible via any Internet browser and communicating via standard HTTP protocols.

VENDOR LANDSCAPE

  • The major players in the Turkish elevators and escalators market are KONE, Otis, Hyundai Elevator, TK Elevator, Mitsubishi Electric, Hitachi and Schindler.

  • The top 4 vendors including TK lift, Otis, Schindler and KONE account for 39% market share in Turkey.

  • Schindler started business as Turkeli Elevator in 1947 and has been operating as Schindler Turkeli Elevator Sanayi AS since 1992. Schindler has regional offices in Ankara, Izmir, Antalya and Adana and representative offices in many provinces, especially in the European and Anatolian regions of Istanbul.

Main suppliers

  • Kone

  • Mitsubishi Electric

  • TK lift

  • Hitachi

  • Hyundai Elevator

  • Otis

  • Schindler

Other Important Suppliers

  • Kleemann

  • Wittur

  • ISF lift

  • Schmersal

  • Merih Elevator

  • Ametal

Main topics covered:

Chapter 1 Overview

Section 2 Turkey Elevator Market

  • Turkey Escalator Market by Segments

  • Turkey Escalator Market, by Volume

  • Turkey Escalator Market Size & Forecast, Volume (Units), 2019 – 2028

  • Turkey Elevator Market, By Type

  • Hydraulics and Pneumatics Market Size and Forecast, Volume (Units), 2019 – 2028

  • Engine Room Traction, Market Size and Forecast, Volume (Units), 2019-2028

  • Tractionless Engine Room Market Size and Forecast, Volume (Units), 2019-2028

  • Others, Market Size and Forecast, Volume (Units), 2019-2028

  • Turkey Elevator and Escalator Market by Trolley Type

  • Passenger, Market Size and Forecast, Volume (Units), 2019-2028

  • Freight, Market Size and Forecast, Volume (Units), 2019-2028

  • Turkey Elevator Market by People

  • 2-15 people, market size and forecast, volume (units), 2019-2028

  • 16-24 People, Market Size and Forecast, Volume (Units), 2019-2028

  • 25-33 People, Market Size and Forecast, Volume (Units), 2019-2028

  • 34+, Market Size and Forecast, Volume (Units), 2019-2028

  • Turkey Elevator Market by End Users

  • Commercial, Market Size and Forecast, Volume (Units), 2019-2028

  • Residential, Market Size and Forecast, Volume (Units), 2019-2028

  • Industrial, Market Size and Forecast, Volume (Units), 2019-2028

  • Others, Market Size and Forecast, Volume (Units), 2019-2028

Section 3 Turkey Escalator Market

  • Future Prospects – Turkey Escalator Market by Volume

  • Turkey Escalator Market by Segments

  • Turkey Escalator Market, by Volume

  • Turkey Escalator Market Size & Forecast, Volume (Units), 2019 – 2028

  • Turkey Escalator Market by Type

  • Parallel, Market Size and Forecast, Volume (Units), 2019-2028

  • Multiparallel, Market Size and Forecast, Volume (Units), 2019 – 2028

  • Gateway, Market Size and Forecast, Volume (Units), 2019-2028

  • Intersection, Market Size and Forecast, Volume (Units), 2019-2028

  • Turkey Escalator Market by End Users

  • Commercial, Market Size and Forecast, Volume (Units), 2019-2028

  • Mass Transit Market Size and Forecast, Volume (Units), 2019-2028

  • Others, Market Size and Forecast, Volume (Units), 2019-2028

Section 4 Turkey Elevator and Escalator Market, by Service (Maintenance and Modernization)

Section 5 Geographical Analysis

  • Key Economic Cities in Turkey

Section 6 Market Dynamics

  • Market Drivers, Opportunities, Restraints, Trends

Section 7 Technological Development

Section 8 Competitive Landscape

For more information about this report visit https://www.researchandmarkets.com/r/nklz75

About Louis Miller

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