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Construction in Turkey - Key Trends and Opportunities to 2023

Construction in Turkey - Key Trends and Opportunities to 2023

Summary

Following the liquidity crisis and devaluation of the currency, construction activity was weak in Turkey in 2018, which resulted in a deteriorating business environment. Moreover, political turmoil, terror attacks and fraying relations with Western countries also undermined investors’ confidence. Consequently, the country’s construction industry contracted by 0.8% in real terms that year, and the output value, measured at constant 2017 US dollar exchange rates, declined from US$200.2 billion in 2017 to US$198.7 billion in 2018.The Turkey’s construction industry’s value is expected to pick up over the forecast period (2019-2023), with investments in residential property, transport infrastructure, energy, commercial and industrial projects, and improvement in consumer and investor confidence. Under the 11th five-year development plan 2019-2023, the government aims to transform the country into a top 10 global economy by 2023 and increase its manufacturing capacity and exports - for this, the government is developing road, airports and port infrastructure.The industry’s output value in real terms is expected to rise at a compound annual growth rate (CAGR) of 4.48% over the forecast period, according to GlobalData. The industry is consequently expected to increase in value from US$198.7 billion in 2018 to US$247.3 billion in 2023, measured at constant 2017 US dollar exchange rates.Residential construction was the largest market in the industry during the review period, accounting for 58.0% of the industry’s total value in 2018. The market is anticipated to follow a similar trend over the forecast period, with residential construction accounting for 62.2% of the industry’s total value in 2023. Infrastructure construction was the second-largest market during the review period, accounting for 17.7% of the industry’s total value in 2018. The market is expected to retain its position over the forecast period, to account for 15.4% of the industry’s total value in 2023.The report Construction in Turkey - Key Trends and Opportunities to 2023, provides detailed market analysis, information and insights into the Turkish construction industry, including -

  • Historical (2014-2018) and forecast (2019-2023) valuations of the construction industry in Turkey, featuring details of key growth drivers
  • Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
  • Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline
  • Listings of major projects, in addition to details of leading contractors and consultants
  • Furthermore, it helps the user to -
    • Identify and evaluate market opportunities using GlobalData's standardized valuation and forecasting methodologies
    • Assess market growth potential at a micro-level with over 600 time-series data forecasts
    • Understand the latest industry and market trends
    • Formulate and validate strategy using GlobalData's critical and actionable insight
    • Assess business risks, including cost, regulatory and competitive pressures
    • Evaluate competitive risk and success factors
    Scope

    This report provides a comprehensive analysis of the construction industry in Turkey. It provides -
  • Historical (2014-2018) and forecast (2019-2023) valuations of the construction industry in Turkey, featuring details of key growth drivers.
  • Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
  • Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
  • Listings of major projects, in addition to details of leading contractors and consultants.
  • Reasons to buy
    • Identify and evaluate market opportunities using GlobalData's standardized valuation and forecasting methodologies.
    • Assess market growth potential at a micro-level with over 600 time-series data forecasts.
    • Understand the latest industry and market trends.
    • Formulate and validate strategy using GlobalData's critical and actionable insight.
    • Assess business risks, including cost, regulatory and competitive pressures.
    • Evaluate competitive risk and success factors.


    • Executive Summary
    • Construction Outlook: At-a-glance
      • Table Construction Outlook
      • Table Figure 1: Key Markets, Construction Output Growth Matrix and Risk Matrix
      • Table Figure 2: Turkey, Construction Projects Pipeline by Sector (TRY Billion)
    • Latest News and Indicators
      • Table Figure 3: Turkey, Housing Unit Sold to Overseas Buyers (Total Numbers)
      • Table Figure 4: Turkey, Housing Price Index (2010=Base)
      • Table Figure 5: Turkey, Occupancy Permits Issued Area (Thousand, M2)
    • Key Drivers and Risks
      • Economic Performance
        • Table Turkey, Key Economic Indicators
      • Political Environment
      • Demographics
      • Risk Profile
        • Table Figure 6: Turkey, Risk Reveiw
        • Table Figure 7: Turkey, Risk Comparison Review
    • Construction Outlook
      • All Construction
        • Outlook
          • Table Figure 8: Turkey, Construction Output Value (Real, US$ billion, 2017 prices and exchange rate)
          • Table Figure 9: Turkey, Construction Output Value, Growth Matrix
          • Table Figure 10: Turkey, Construction Output Value, by Sector (TRY Million), 2014–2023
        • Project analytics
          • Table Figure 11: Turkey, Construction Projects Pipeline, Projected Annual Spending by Stage (TRY Million), 2018–2023
          • Table Figure 12: Turkey, Construction Projects Pipeline, Value by Stage (TRY Million)
          • Table Turkey, Construction Output Value (nominal, TRY Million)
          • Table Turkey, Construction Output Value (nominal, US$ Million)
      • Commercial Construction
        • Outlook
          • Table Figure 13: Turkey, Commercial Construction Output by Project Type (TRY Million), 2014–2023
        • Project analytics
          • Table Figure 14: Turkey, Commercial Construction Projects Pipeline, Value by Stage (TRY Million)
          • Table Figure 15: Turkey, Commercial Construction Projects Pipeline, Projected Annual Spending by Stage (TRY Million), 2018–2023
          • Table Turkey, Top Commercial Construction Projects by Value
      • Industrial Construction
        • Outlook
          • Table Figure 16: Turkey, Industrial Construction Output by Project Type (TRY Million), 2014–2023
        • Project analytics
          • Table Figure 17: Turkey, Industrial Construction Projects Pipeline, Value by Stage (TRY Million)
          • Table Figure 18: Turkey, Industrial Construction Projects Pipeline, Projected Annual Spending by Stage (TRY Million), 2018–2023
          • Table Turkey, Top Industrial Construction Projects by Value
      • Infrastructure Construction
        • Outlook
          • Table Figure 19: Turkey, Infrastructure Construction Output by Project Type (TRY Million), 2014–2023
        • Project analytics
          • Table Figure 20: Turkey, Infrastructure Construction Projects Pipeline, Value by Stage (TRY Million)
          • Table Figure 21: Turkey, Infrastructure Construction Projects Pipeline, Projected Annual Spending by Stage (TRY Million), 2018– 2023
          • Table Turkey, Top Infrastructure Construction Projects by Value
      • Energy and Utilities Construction
        • Outlook
          • Table Figure 22: Turkey, Energy and Utilities Construction Output by Project Type (TRY Million), 2014–2023
        • Project analytics
          • Table Figure 23: Turkey, Energy and Utilities Construction Projects Pipeline, Value by Stage (TRY Million)
          • Table Figure 24: Turkey, Energy and Utilities Construction Projects Pipeline, Projected Annual Spending by Stage (TRY Million), 2018–2023
          • Table Turkey, Top Energy and Utilities Construction Projects by Value
      • Institutional Construction
        • Outlook
          • Table Figure 25: Turkey, Institutional Construction Output by Project Type (TRY Million), 2014–2023
        • Project analytics
          • Table Figure 26: Turkey, Institutional Construction Projects Pipeline, Value by Stage (TRY Million)
          • Table Figure 27: Turkey, Institutional Construction Projects Pipeline, Projected Annual Spending by Stage (TRY Million), 2018–2023
          • Table Turkey, Top Institutional Construction Projects by Value
      • Residential Construction
        • Outlook
          • Table Figure 28: Turkey, Residential Construction Output by Project Type (TRY Million), 2014–2023
        • Project analytics
          • Table Figure 29: Turkey, Residential Construction Projects Pipeline, Value by Stage (TRY Million)
          • Table Figure 30: Turkey, Residential Construction Projects Pipeline, Projected Annual Spending by Stage (TRY Million), 2018–2023
          • Table Turkey, Top Residential and Mixed-Use Construction Projects by Value
    • Key Industry Participants
      • Contractors
        • Table Turkey, Key Contractors
        • Table Figure 31: Turkey, Headquarters of Key Contractors (% of Total Project Pipeline)
        • Table Figure 32: Turkey, Headquarters of Foreign Contractors (% of Project Pipeline with Foreign Contractor)
      • Consultants
        • Table Turkey, Key Consultants
        • Table Figure 33: Turkey, Headquarters of Key Consultants (% of Total Project Pipeline)
        • Table Figure 34: Turkey, Headquarters of Foreign Consultants (% of Project Pipeline with Foreign Consultants)
    • Appendix
      • What is this Report About?
      • Definitions
        • Table GlobalData Construction Market Definitions
        • Table Construction Risk Index Ratings and Scores
    • About GlobalData
      • GlobalData at a Glance
        • Table Figure 35: GlobalData at a Glance
      • GlobalData Construction
      • Disclaimer
      • Contact Us

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