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Türkiye’s machinery sector eyes $120B potential in global leasing

Türkiye's machinery sector eyes $120B potential in global leasing TurkishTractor, Turkey's first automotive manufacturer with 68 years of experience, continues its operations in agricultural mechanization and construction machinery, featuring the premium CASE brand (AA Photo)
By Newsroom
Jun 20, 2024 12:15 PM

Türkiye’s machinery sector is gearing up to become a proactive player in the global leasing market.

The Türkiye Construction Equipment Distributors and Manufacturers Association (IMDER), aiming to increase its share in the rapidly expanding market, has joined the Global Rental Alliance (GRA), an association that encompasses major players in the rental sector worldwide.

Strategic membership

Secretary General of IMDER and the Association of Forklift Distributors and Manufacturers Oguz Yusuf Yigit highlighted the significance of GRA membership for Türkiye’s machinery sector, emphasizing the substantial advantages it will bring.

Our GRA membership will enhance the visibility of our machinery sector on the international stage and boost our global competitiveness

Oguz Yusuf Yigit

Yigit further explained that membership will facilitate global knowledge sharing, enabling the adoption of best practices and rapid integration of technological advancements within the sector.

Market growth and projections

He underscored the transformative potential of this development, presenting significant opportunities for both the machinery sector and the business community at large.

The machinery and equipment rental market, estimated to reach approximately $120 billion worldwide and projected to grow by 50% over the next 15 years, is expected to reach $179.6 billion by 2027

Oguz Yusuf Yigit

Technological integration and sector development

He pointed out that Türkiye’s machinery sector, distinguished by its $6 billion total revenue and employment of around 1.4 million people as of 2022, is well-positioned to seize new opportunities in the expanding rental market.

Türkiye aims to strengthen its position in the global market by aligning with the EU’s green transformation goals and leveraging new technologies.

Last Updated:  Jun 20, 2024 2:51 PM