Development of transportation infrastructure and technological advancements are driving the growth of Turkey Ready Mix Concrete Market in the forecast period, 2022-2026.
According to TechSci Research report, “Turkey Ready Mix Concrete Market By Production (On Site, Off Site), By Product Type (Transit Mixed Concrete, Shrink Mixed Concrete), By Application (Commercial, Residential, Infrastructure, Industrial), By Region, Competition Forecast & Opportunities, 2026”, the Turkey Ready Mix Concrete market is expected to grow at a formidable rate during the forecast period, 2022-2026. The growing consciousness about the benefits of using Ready Mix Concrete is fueling the market demand. Market players are investing in research and development activities to increase the performance and favorable properties of the Ready Mix Concrete. High government spending on the development of bridges, railway networks, buildings, roads, dams is contributing to the increased spending on the adoption of advanced construction materials. The efforts made by the government officials for the development of the renewable energy sector and the efficient distribution of energy to the consumers are boosting the growth of the construction industry in Turkey. Turkey's 11th five-year development plan 2019-2023, due to the increased government focus on construction and infrastructure development, is expected to create growth potential for Turkey's Ready Mix Concrete market. Under Vision 2023, the government is making efforts to build 13,478km of new roads, 5,748km of new highways and develop 10,000km of high-speed railway lines to boost the national economy, which is expected to accelerate the market growth. The government is also encouraging foreign direct investments to spur the rate of construction activities and improve the country's economic status. The advantage of using Ready Mix Concrete is that it allows the formation of better-quality concrete as it is made in advanced equipment and with a consistent manufacturing process. Ready Mix Concrete eliminates the need for the storage of construction materials and the time required in mixing the concrete materials at the construction sites. The need for labor indulging in the concrete formation process is removed, as the Ready Mix Concrete is directly supplied to contractors and construction companies.
However, the need for high initial costs for manufacturing plants may restrain the Turkey Ready Mix Concrete market growth in the forecast period.
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The Turkey Ready Mix Concrete market is segmented on the basis of production, product type, application, competitional landscape, and regional distribution.
On the basis of the product type, the Turkey Ready Mix Concrete market is divided into transit mixed concrete and shrink mixed concrete. The transit mixed concrete is expected to dominate the market share for the forecast period, 2022-2026. Transit mixed concrete is also known as truck mixed concrete, in which the materials are batched at the central plant and then are thoroughly mixed during the transition process. Transit-mixing separates the water from the cement and aggregates and allows the concrete to be mixed instantly before moving to the construction site. Advantages of using transit mixed concrete help prevent the formation of slumps or hardening of concrete, resulting in a delay in transportation. The disadvantage of using transit mixed concrete is the size of the truck is smaller than the central mixed concrete, which may hinder its market demand.
On the basis of the application, the Turkey Ready Mix Concrete market is divided into commercial, residential, infrastructure, and industrial. The residential segment is expected to hold the largest market share for the forecast period. Growing demand for single-family housing due to the shift in preference for nuclear families coupled with rapid household construction activities across the country is majorly contributing to the market's growth. Low mortgage rates and the availability of easy financing options are increasing the affordability of the people, fueling the market growth.
“Growing expenditure for the development of the commercial sector, including shopping malls, hotels, shopping malls, restaurants, supermarkets, hospitals, departmental and specialized stores, are boosting the demand for Ready Mix Concrete market. The high awareness towards the benefits of green construction, which promotes the use of construction materials having high energy efficiency and optimum water wastage, is expected to propel the growth of the Turkey Ready Mix Concrete market growth till 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Turkey Ready Mix Concrete Market By Production (On Site, Off Site), By Product Type (Transit Mixed Concrete, Shrink Mixed Concrete), By Application (Commercial, Residential, Infrastructure, Industrial), By Region, Competition Forecast & Opportunities, 2026”, has evaluated the future growth potential of Turkey Ready Mix Concrete market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Turkey Ready Mix Concrete market.