The number of Turkish contractors on the list of The Top 250 International Contractors rose to 46 in 2016 from 40 in the previous year.
The total revenue generated by Turkish contracting companies from the projects that they undertook abroad last year was $25.6 billion. Among the Turkish firms, the first three were Rönesans, Polimeks and Enka.
According to Engineering News-Record (ENR), the market size of the world’s largest 250 international contractors dropped to $501 billion in 2015 with a 4.1 percent decline in two consecutive years and to $468 billion in 2016 with a 6.4 percent shrinkage from $544 in 2013.
The ENR’s statement said: “Low oil prices and global economic and political turmoil are causing companies to be cautious about market risks and deliveries,” in the introductory sentence of its bulletin titled “A Hard Look at a Challenging Market” summarizes concerns about the global construction sector.
In the conjuncture where the international contracting market has declined by 14 percent in the last three years, the overseas performance of Turkish contractors has risen.
Both the number of Turkish companies in the ENR list increased to 46 last year from 40 in 2015 and their market share increased in the same period. The total market share of the listed Turkish companies was 3.8 percent in 2013, 4.3 percent in 2014, 4.6 percent in 2015 and 5.5 percent in 2016.
While Turkish contractors’ share of regional revenues decreased somewhat in Europe, it increased all in their main markets. Their market share rose to 9.1 percent from 7.9 percent in the Middle East, to 7.0 percent from 5.5 percent in Asia, and to 5.1 percent from 4.7 percent in Africa.