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.