Economic Outlook

Economic Outlook
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Dear Elevator World Türkiye readers,

As a result of the current monetary policy, the domestic market is shrinking, while constantly rising costs are putting even more pressure on local manufacturers. Under these difficult conditions, we are hearing news of bankruptcy proceedings from companies that have been established over decades with great effort. Unfortunately, it seems that more of these sad news will follow. Local manufacturers, who must survive under these difficult conditions, have turned their attention to upcoming international trade fairs. Interlift, the world’s largest international event in its field, will take place for the first time in Nuremberg this year, at Messe Nürnberg, from October 14-17. This year’s fair will see a record participation from Türkiye, with 80 companies showcasing their latest technologies and products. 

The only event this summer was the seventh Lift City Expo Cairo fair, organized by ACT Fuarcılık at the Cairo International Convention and Exhibition Center from July 3-5, 2024.

The ninth Expo Elevador, Latin America’s largest elevator fair, which has seen significant growth in both size and success, took place in May in São Paulo, Brazil.

The results of the “World’s Top 250 International Contractors List” published by Engineering News Record (ENR) magazine once again confirmed the success of the Turkish contracting sector internationally. In the 2025 list published in August, the number of Turkish companies rose to 45, marking a record achievement. 

Löher, Türkiye’s oldest and most established escalator manufacturer, achieved significant success in the modernization of the İzmirÜçyol Metro Station. You will find the details of this beautiful project interesting.

TK Elevator (TKE) announced on August 25, 2025, that it had signed a major contract to supply 50 EOX elevators for the Mona94 Villa Project, a premium residential project located in the scenic Beykoz district of Istanbul.

The fact that our country is located in an earthquake zone, coupled with the tragic loss of life in fire disasters due to negligence, is significantly higher compared to developed countries. I highly recommend reading the article by Serdar Tavaslıoğlu, who constantly draws attention to this issue and strives to raise awareness through his presentations and training sessions on every platform, titled “Opinions on Life in Buildings in Emergency Situations, Goal: Accessibility and Reachability in Buildings (Elevator-Supported Evacuation Systems)”.

We would also like to thank Muharrem Bilge Çakırer, Emre Köroğlu, and Lakshmanan Raja for their valuable articles on cabins, which are the focus of this issue.

Wishing all our readers a healthy, happy, and prosperous summer…

Elevator World Turkey and Middle East: Managing Director

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