Turkey ranks second among the world's top 250 contractors

The global magazine Engineering News Record (ENR) published its annual report titled "The List of the World's Top 250 Contractors for 2023," where the magazine ranks companies based on the annual increase in their revenues generated from projects undertaken outside their home countries, as well as the number of companies operating in the international contracting sector in each country included in the study.

Turkey achieved distinction with 40 companies operating in international contracting

According to the report's data, Turkey ranked second globally among the top 250 contractors in the world, with 40 companies operating in the field of international contracting.

China took first place with 81 companies in international contracting, while the United States of America came in third with 39 companies operating in the international contracting sector.

Regarding the market share of Turkish contractors in the global international contracting market, Turkey's market share reached 4.4% of the total global international contracting market, according to the report.

ENR magazine indicated in one of its publications that the size of the global construction market increased from $398 billion to $428.5 billion during 2022.

Two Turkish companies among the world's top 50 companies

Regarding the ranking of the largest contracting companies in the world, 6 Turkish companies were listed among the top 100 companies ranked by the report, with two of them making it into the top 50 contracting companies globally.

The rankings of the top 10 Turkish companies between 2022 and 2023 were as follows:

Regarding the global markets where Turkish contracting companies are active, the report confirmed that the European market ranked first among these markets, with the value of projects completed by Turkish contracting companies in the European market reaching $9.2 billion.

The Middle East ranked second, with Turkish contracting companies investing $4.3 billion, followed by Africa with investments of $3.1 billion, and then Asia with $1.9 billion.

In the same context, the President of the Turkish Contractors Association, Mr. Erdal Eren, commented on the published report data, stating that Turkey's retention of second place for a year and a half was a joyful achievement, especially since this success was achieved despite the challenges the sector faced in the past two years due to the repercussions of COVID-19 and the Russia-Ukraine war.

Regarding his outlook for the future, Eren said, "In the future, we aspire to reach the target set for us by President Recep Tayyip Erdoğan, which is to achieve an annual average of $75 billion in the medium term. We will work hard to reach this goal set by the president, based on his great confidence in us."

Edited by: Imtilak Real Estate

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