The transport equipment rental employment market in Turkey experienced significant fluctuations from 2014 to 2023. Employment hit a peak in 2019 at nearly 28.86 thousand, driven by a yearly increase of 4.57% and a notable 13.23% CAGR from 2014 to 2019. However, a downward trend emerged, with substantial yearly declines starting in 2020, reaching a 15.94% drop by 2023, resulting in 17.53 thousand employees. This reflects an -8.67% CAGR over the last five years.
Future trends indicate a sharp contraction, with a forecasted 37.12% annual decrease from 2024 to 2028, leading to a massive 90.17% reduction in total employment over this period. This decline suggests potential widespread industry disruption or economic shifts influencing the sector.
Future trends to watch for:
- Technological advancements in transportation and rental processes.
- Market consolidation or exits due to decreasing profitability.
- Regulatory changes impacting the transport rental industry.
- Shifting consumer preferences towards alternatives like ride-sharing or micro-mobility solutions.
