Turkey maintains second place in “Construction Giants League”
With its performance in 2022, Turkey secured a spot in the “Top 250 International Contractors in the World” list with 40 companies this year. Thus, Turkey maintains its second place in the world rankings based on the number of firms and captured a 4.4% share from the global construction market.
ENR (Engineering News Record), a globally recognized construction industry magazine, annually publishes the “Top 250 International Contractors in the World” list based on the revenues generated by contractors from their activities outside their home countries in the previous year. Turkey retained its second place in the list with 40 companies. Awards were presented to the contractors who made it to last year’s ENR lists during a ceremony held on August 22, 2023, by President Erdoğan.
SIZE OF GLOBAL CONSTRUCTION INCREASES FROM $ 398 BILLION TO $ 428.5 BILLION
The Turkish Contractors Association (TMB) announced the 2023 results for the “Top 250 International Contractors in the World” list. According to ENR’s bulletin titled “Companies Confront Challenges in the Big Picture,” the size of the global construction market increased from $398 billion in 2022 to $428.5 billion. The bulletin pointed to high global inflation, skilled labor shortages, and supply chain issues, while noting that amid the winds of significant change, the projects undertaken by companies in the midst of the sector have been advantageous, but rising project costs have raised concerns for the future.
TWO TURKISH COMPANIES IN TOP 50
Six Turkish companies managed to make it into the top 100 companies. Like last year, two Turkish companies secured places in the top 50. Looking at the regions, Turkish firms’ activities were mainly concentrated in Europe – including Russia – ($9.2 billion), the Middle East ($4.3 billion), Africa ($3.1 billion), and Asia ($1.9 billion).
