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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 (Q4 2024)

Publisher GlobalData
Published Dec 31, 2024
Length 53 Pages
SKU # GBDT19550541

Description

Turkey Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2028 (Q4 2024)

Summary

GlobalData’s Construction in Turkey - Key Trends and Opportunities to 2028 (Q4 2024) 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 8.7% in 2024, supported by investments in industrial construction and housing projects, coupled with the reconstruction of buildings and infrastructure damaged by the earthquake in February 2023 In addition, the average construction turnover index grew sharply by 88.5% YoY in the first nine months of 2024. By segment, the construction turnover index of buildings rose by 96.9% YoY, while that of civil engineering works grew by 82% YoY, and utility projects by 71.5% YoY during the same period. Furthermore, financial support from foreign institutions is expected to bolster the construction industry’s output, with Saudi Arabian finance company, Islamic Development Bank Group, and Turkish import and export company, Turk Eximbank investing TRY3.4 billion ($100 million) in November 2024, to boost green energy investment in earthquake-affected areas. Additionally, the Europe Development Bank (EIB) approved a TRY9 billion ($270.5 million) loan in July 2024 to fund the development of earthquake-affected infrastructure.

Although registering healthy growth in 2024, the construction industry’s output growth momentum will continue to be undermined by high inflation, interest rates, and construction costs, along with the devaluation of the Turkish Lira coupled with falling building permits, resulting the industry to record a slower growth of 2.5% in real term in 2025. According to TurkStat, the total floor area of permits issued for building construction decreased by 10.2% YoY in the first nine months of 2024, with residential buildings falling by 10.9%, common area buildings by 10.2% and non-residential buildings by 8.7% during the same period. The Turkish construction industry is expected to record an annual average growth of 4.1% from 2026 to 2028, supported by investments in transport, energy, industrial, and housing projects

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

53 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: Colombia Ready Meals Market Value (COP m) and Growth (Y-o-Y), 2018-28
Table 2: Colombia Ready Meals Market Value (USD m) and Growth (Y-o-Y), 2018-28
Table 3: Colombia Ready Meals Market Value (COP m) by Segments, 2018-23
Table 4: Colombia Ready Meals Market Value (COP m) by Segments, 2023-28
Table 5: Colombia Ready Meals Market Value (USD m) by Segments, 2018-23
Table 6: Colombia Ready Meals Market Value (USD m) by Segments, 2023-28
Table 7: Colombia Ready Meals Market Volume (Kg m) and Growth (Y-o-Y), 2018-28
Table 8: Colombia Ready Meals Market Volume (kg m) by Segments, 2018-23
Table 9: Colombia Ready Meals Market Volume (kg m) by Segments, 2023-28
Table 10: Colombia Ambient Ready Meals Market by Value (COP m), 2018-28
Table 11: Colombia Ambient Ready Meals Market by Value (USD m), 2018-28
Table 12: Colombia Ambient Ready Meals Market by Volume (Kg m), 2018-28
Table 13: Colombia Chilled Ready Meals Market by Value (COP m), 2018-28
Table 14: Colombia Chilled Ready Meals Market by Value (USD m), 2018-28
Table 15: Colombia Chilled Ready Meals Market by Volume (Kg m), 2018-28
Table 16: Colombia Dried Ready Meals Market by Value (COP m), 2018-28
Table 17: Colombia Dried Ready Meals Market by Value (USD m), 2018-28
Table 18: Colombia Dried Ready Meals Market by Volume (Kg m), 2018-28
Table 19: Colombia Frozen Ready Meals Market by Value (COP m), 2018-28
Table 20: Colombia Frozen Ready Meals Market by Value (USD m), 2018-28
Table 21: Colombia Frozen Ready Meals Market by Volume (Kg m), 2018-28
Table 22: Colombia Ready Meals Market Value by Brands (COP m), 2020-23
Table 23: Colombia Ready Meals Market Value by Brands (USD m), 2020-23
Table 24: Colombia Ready Meals Market Volume by Brands (Kg m), 2020-23
Table 25: Colombia Ready Meals Market Value by Distribution Channel (COP m), 2020-23
Table 26: Colombia Ready Meals Market Value by Distribution Channel (USD m), 2020-23
Table 27: Category Definitions - Ready Meals Market
Table 28: Distribution Channel Definitions Ready Meals Market
Table 29: Volume Units for Ready Meals Market
Table 30: Colombia Exchange Rate COP - USD (Annual Average), 2018 - 2023
Table 31: Colombia Exchange Rate COP - USD (Annual Average), 2024 - 2028 Forecast
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, 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 ($ 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 thousand 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) (2023 = 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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