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Turkey Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2028 (Q3 2024)

Publisher GlobalData
Published Sep 30, 2024
Length 51 Pages
SKU # GBDT19273841

Description

Turkey Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2028 (Q3 2024)


Summary

GlobalData’s Construction in Turkey - Key Trends and Opportunities to 2028 report provides detailed market analysis, information and insights into the Turkish construction industry, including -
  • The Turkish construction industry's growth prospects by market, project type and construction activity
  • Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in the Turkish construction industry
  • Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.
GlobalData expects the Turkish construction industry to grow in real terms by 5.4% in 2024, supported by the reconstruction of buildings and infrastructure damaged by the earthquake in February 2023 and the investment in energy and infrastructure projects. In addition, the average construction turnover index increased by 91.9% YoY in the first seven months of 2024. By segment, the construction turnover index of buildings increased by 100.3%, while that of civil engineering works increased by 88.5%, and utility projects increased by 71.3% YoY. Further, financial institutions are assisting in construction, with the Asian Infrastructure Investment Bank (AIIB) approving TRY6.7 billion ($200 million) in September 2024 to rebuild earthquake-affected areas and the World Bank approving TRY20 billion ($600 million) in June 2024 to build resilience against floods and droughts and develop related infrastructures.

However, a fall in building permits, high inflation, and continuing devaluation of the Turkish Lira against the US dollar can pose a downside risk to the construction industry in the short term. According to Turkstat, the total floor area of permits issued for building construction decreased by 4.9% YoY in the first half of 2024, with non-residential buildings falling by 3.3%, residential buildings by 5.2%, and common area buildings by 6.2%.The Turkish construction industry is expected to record an annual average growth of 3.7% from 2025 to 2028, supported by investment in transport, energy, industrial, and residential sectors coupled with the government's aim of increasing the share of renewable energy sources in total energy consumption from 16.7% in 2020 to 23.7% in 2035.

Scope

This report provides a comprehensive analysis of the construction industry in Turkey. It provides -
  • Historical (2019-2023) and forecast (2024-2028) 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 our 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 business strategies using GlobalData's critical and actionable insight
  • Assess business risks, including cost, regulatory and competitive pressures
  • Evaluate competitive risk and success factors

Table of Contents

51 Pages
1 Executive Summary
2 Construction Industry: At-a-Glance
3 Context
3.1 Economic Performance
3.2 Political Environment and Policy
3.3 Demographics
3.4 Risk Profile
4 Construction Outlook
4.1 All Construction
Outlook
Latest news and developments
Construction Projects Momentum Index
4.2 Commercial Construction
Outlook
Project analytics
Latest news and developments
4.3 Industrial Construction
Outlook
Project analytics
Latest news and developments
4.4 Infrastructure Construction
Outlook
Project analytics
Latest news and developments
4.5 Energy and Utilities Construction
Outlook
Project analytics
Latest news and developments
4.6 Institutional Construction
Outlook
Project analytics
Latest news and developments
4.7 Residential Construction
Outlook
Project analytics
Latest news and developments
5 Key Industry Participants
5.1 Contractors
5.2 Consultants
6 Construction Market Data
7 Appendix
7.1 What is this Report About?
7.2 Definitions
7.3 CRI Methodology
About GlobalData
Contact Us
List of Tables
Table 1: Construction Industry Key Data
Table 2: Turkey, Key Economic Indicators
Table 3: Turkey, Commercial Construction Output by Project Type (Real % Change), 2019-28
Table 4: Turkey, Top Commercial Construction Projects by Value
Table 5: Turkey, Industrial Construction Output by Project Type (Real % Change), 2019-28
Table 6: Turkey, Top Industrial Construction Projects by Value
Table 7: Turkey, Infrastructure Construction Output by Project Type (Real % Change), 2019-28
Table 8: Turkey, Top Infrastructure Construction Projects by Value
Table 9: Turkey, Energy and Utilities Construction Output by Project Type (Real % Change), 2019-28
Table 10: Turkey, Top Energy and Utilities Construction Projects by Value
Table 11: Turkey, Institutional Construction Output by Project Type (Real % Change), 2019-28
Table 12: Turkey, Top Institutional Construction Projects by Value
Table 13: Turkey, Residential Construction Output by Project Type (Real % Change), 2019-28
Table 14: Turkey, Top Residential Construction Projects by Value
Table 15: Turkey, Key Contractors
Table 16: Turkey, Key Consultants
Table 17: Turkey, Construction Output Value (Real, $ Million)
Table 18: Turkey, Construction Output Value (Nominal, TRY Billion)
Table 19: GlobalData Construction Market Definitions
Table 20: Risk Dimensions
Table 21: Ratings, Scores and Definitions
List of Figures
Figure 1: Eastern Europe and Central Asia, Construction Output (Real % Change), 2022-28
Figure 2: Turkey, Construction Output by Sector (Real % Change), 2022-24 and 2025-28
Figure 3: Turkey, Risk Summary
Figure 4: Turkey, Risk Regional Comparison
Figure 5: Turkey, Construction Output Value (Real, $ Million, 2022 Prices and Exchange Rate), 2019-28
Figure 6: Turkey, Construction Output Value, by Sector (Real, $ Million), 2019-28
Figure 7: Turkey, Construction Value Add (TRY Million, 2009 Chain Linked Volume Measures)
Figure 8: Turkey, Gross Fixed Capital Formation (TRY Million, 2009 Chain Linked Volume Measures)
Figure 9: Turkey, Construction Cost Index (2015=100)
Figure 10: Turkey, Construction Permits, In thousand m2
Figure 11: Turkey, Building Activity Index and Construction Confidence Index, Seasonally Adjusted
Figure 12: Turkey, Construction Turnover Index, Seasonal and Calendar Adjusted (2021=100), % Change YoY
Figure 13: Turkey, Construction Projects Momentum Index
Figure 14: Eastern Europe and Central Asia, Construction Projects Momentum Index
Figure 15: Turkey, Commercial Construction Output by Project Type (Real, $ Million), 2019-28
Figure 16: Turkey, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 17: Turkey, Construction Permits Issued for Commercial Buildings, In Thousand m2
Figure 18: Turkey, Services Value Add (TRY Million, 2009 Chain Linked Volume Measures)
Figure 19: Turkey, Total Foreign Visitors Arrivals, In Thousands
Figure 20: Turkey, Retail Sales Volume Index (2015 = 100)
Figure 21: Turkey, Industrial Construction Output by Project Type (Real, $ Million), 2019-28
Figure 22: Turkey, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 23: Turkey, Floor Area of Building Permits Approved for Industrial and Warehouse Buildings, in thousand m2
Figure 24: Turkey, Manufacturing Value Add (TRY Million, 2009 Chain Linked Volume Measures)
Figure 25: Turkey, Manufacturing - Capacity Utilization Rate, in %
Figure 26: Turkey, Industrial and Manufacturing Production Indices, 2021=100, Seasonally and Calendar Adjusted
Figure 27: Turkey, Total Export (US$ Million)
Figure 28: Turkey, Sales of Passenger Cars and Light Commercial Vehicles, Units
Figure 29: Turkey, Infrastructure Construction Output by Project Type (Real, $ Million), 2019-28
Figure 30: Turkey, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
Figure 31: Turkey, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2019-28
Figure 32: Turkey, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
Figure 33: Turkey, Information and Communication Activities Value Add (TRY Million, 2009 Chain Linked Volume Measures)
Figure 34: Turkey, Production Index of Electricity, Gas, Steam, and Air Conditioning (2015=100)
Figure 35: Turkey, Institutional Construction Output by Project Type (Real, $ Million), 2019-28
Figure 36: Turkey, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
Figure 37: Turkey, Value Add of Public Administration, Education, Human Health and Social Work Activities (TRY Million, 2009 Chain Linked Volume Measures)
Figure 38: Turkey, Floor Area of Construction Permits Approved for Public Entertainment, Education, Hospital or Institutional Care Buildings, in 1,000 m2
Figure 39: Turkey, Residential Construction Output by Project Type (Real, $ Million), 2019-28
Figure 40: Turkey, Residential Construction Projects Pipeline, Value by Stage ($ Million)
Figure 41: Turkey, Real Estate Activities Value Add (TRY Million, 2009 Chain Linked Volume Measures)
Figure 42: Turkey, Floor area of residential permits, in thousand m2
Figure 43: Turkey, House Sales
Figure 44: Turkey, Residential Property Price Index (RPPI) (2017 = 100)
Figure 45: Turkey, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 46: Turkey, Headquarters of Key Consultants (% of Total Project Pipeline)

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