Türkiye Maintained Its Second Place in ENR 250 with 40 Companies

Engineering News Record (ENR) magazine, an international construction industry publication, published the 2023 results of the “Top 250 International Contractors,” which is based on the revenues generated by contractors from their activities abroad in the previous year.

According to ENR’s statement on the 2023 results, despite the losses caused by the ongoing war between Russia and Ukraine and the increasing project costs and risks, 40 Turkish companies appeared in the list this year due to their performance in 2022. Thus, Türkiye maintained second place in the world in terms of the number of companies.

China ranked first on the list again with 81 companies, while the U.S. ranked third with 39 companies. Türkiye’s share of the global construction market was 4.4%.

In its bulletin titled “Companies Face Challenges in the Big Picture,” ENR noted that the size of the global construction market increased from US$398 billion to US$428.5 billion in 2022.

The bulletin pointed to the high inflation, shortage of skilled labor and supply chain problems experienced globally. It stated that the projects undertaken in the sector amid severe winds of change constituted an advantage for the companies, but the increasing project costs created question marks for the future.

Two Turkish Companies Among the Top 50

Six Turkish companies made it to the top 100 companies in the list. As in the previous year, two Turkish companies were among the top 50 companies.

The activities of Turkish companies are mainly focused on Europe, including Russia (US$9.2 billion), the Middle East (US$4.3 billion), Africa (US$3.1 billion) and Asia (US$1.9 billion).

Turkish Contracting Companies Included in the “Top 250 International Contractors”