Construction in Turkey to rise at a compound annual growth rate (CAGR) of 5%

Construction in Turkey - Key Trends and Opportunities to 2024 is latest research study released by HTF MI evaluating the market, highlighting opportunities, risk side analysis, and leveraged with strategic and tactical decision-making support. The study provides information on market trends and development, drivers, capacities, technologies, and on the changing investment structure of the Construction in Turkey - Key Trends and Opportunities to 2024 Market.

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Construction in Turkey - Key Trends and Opportunities to 2024
Summary
The slump in construction activity in Turkey deepened in 2019, with the industry contracting by 8.0% in real terms, following a decline of 2.1% in 2018. The country’s economic woes have severely impacted construction activity; the depreciation in the lira and high interest rates have pushed up construction costs and the cost of borrowing, such that the viability of projects has been eroded and firms are reportedly bringing projects to a halt. Increasing numbers of construction companies have also collapsed or have sought bankruptcy protection.
There are still factors that could prop up the industry towards the latter part of the forecast period, notably the government’s focus on developing transport, residential and energy infrastructure. The industry is expected to recover in 2020, with growth continuing through the latter part of forecast period (2020-2024). The industry’s output value is expected to grow at an annual average growth rate of 5% during the period of 2020-2024, with new investment in manufacturing plants and the government’s focus on developing the country’s infrastructure projects. In July 2019, the parliament passed its 11th five-year development plan 2019-2023, under which the government aims to turn country into a US$1.1 trillion economy, as well as generate US$226.6 billion of income from exports by 2023. To achieve this target, the government aims to deploy high speed internet cables across the country to implement additive manufacturing, robotics, the internet of things, artificial intelligence and augmented reality technologies in the manufacturing sector. Through this, the government aims to attract foreign manufacturing companies and increase manufacturing production.
The government’s focus to develop the energy sector - in particular renewable energy - is also expected to drive the industry’s growth over the forecast period. In September 2019, the government issued a license for the construction of a nuclear power plant to Russia’s Rosatom. In addition, the Emba Electricity Production company, a joint-venture Chinese and Turkish company, is investing TRY10.7 billion (US$1.7 billion) to build the Emba Hunutlu power plant by 2021.
However, the ongoing currency crisis in the country, coupled with high unemployment, are expected to have a negative impact on Turkey’s economy, which could have an adverse impact on construction spending. Disputes between the US and Turkey are also expected to hold back the country’s economic growth over the forecast period. In October 2019, the US imposed a 50% trade tariff on Turkey’s steel, and also halted trade negotiation talks with the country.
The industry’s output value in real terms is expected to rise at a compound annual growth rate (CAGR) of 4.99% over the forecast period, according to GlobalData.
GlobalData’s Construction in Turkey - Key Trends and Opportunities to 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.
Scope
- This report provides a comprehensive analysis of the construction industry in Turkey. It provides -
- Historical (2015-2019) and forecast (2020-2024) 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.
Companies Mentioned in the Report

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• Asia-Pacific (China, Japan, Australia, New Zealand, South Korea, India and Southeast Asia)
• South America (Brazil, Argentina, Colombia, rest of countries etc.)
• Middle East and Africa (Saudi Arabia, United Arab Emirates, Israel, Egypt, Nigeria and South Africa)

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Key Answers Captured in Study are
Which geography would have better demand for product/services?
What strategies of big players help them acquire share in regional market?
Countries that may see the steep rise in CAGR & year-on-year (Y-O-Y) growth?
How feasible is market for long term investment?
What opportunity the country would offer for existing and new players in the Construction in Turkey - Key Trends and Opportunities to 2024 market?
Risk side analysis involved with suppliers in specific geography?
What influencing factors driving the demand of Construction in Turkey - Key Trends and Opportunities to 2024 near future?
What is the impact analysis of various factors in the Construction in Turkey - Key Trends and Opportunities to 2024 market growth?
What are the recent trends in the regional market and how successful they are?

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1 Executive Summary

2 Construction Outlook: At-a-glance

3 Key Drivers and Risks
3.1. Economic Performance
3.2. Political Environment
3.3. Demographics
3.4. Risk Profile

4 Construction Outlook
4.1. All Construction
4.1.1. Outlook
4.1.2. Project analytics
4.2. Commercial Construction
4.2.1. Outlook
4.2.2. Project analytics
4.3. Industrial Construction
4.3.1. Outlook
4.3.2. Project analytics
4.4. Infrastructure Construction
4.4.1. Outlook
4.4.2. Project analytics
4.5. Energy and Utilities Construction
4.5.1. Outlook
4.5.2. Project analytics
4.6. Institutional Construction
4.6.1. Outlook
4.6.2. Project analytics
4.7. Residential Construction
4.7.1. Outlook
4.7.2. Project analytics

5 Key Industry Participants
5.1. Contractors
5.2. Consultants

6 Appendix
6.1. What is this Report About
6.2. Definitions

7 About GlobalData
7.1. GlobalData at a Glance
7.2. GlobalData Construction
7.3. Disclaimer
7.4. Contact UsList of Tables
Table 1: Construction Outlook
Table 2: Turkey, Key Economic Indicators
Table 3: Turkey, Construction Output Value (Real, US$ Million)
Table 4: Turkey, Construction Output Value (Nominal, TRY Million)
Table 5: Turkey, Top Commercial Construction Projects by Value
Table 6: Turkey, Top Industrial Construction Projects by Value
Table 7: Turkey, Top Infrastructure Construction Projects by Value
Table 8: Turkey, Top Energy and Utilities Construction Projects by Value
Table 9: Turkey, Top Institutional Construction Projects by Value
Table 10: Turkey, Top Residential and Mixed-Use Construction Projects by Value
Table 11: Turkey, Key Contractors
Table 12: Turkey, Key Consultants
Table 13: GlobalData Construction Market Definitions
Table 14: Construction Risk Index Ratings and ScoresList of Figures
Figure 1: Key Markets, Construction Output Growth Matrix and Risk Matrix
Figure 2: Turkey, Construction Projects Pipeline by Sector (US$ Billion)
Figure 3: Turkey, Risk Profile
Figure 4: Turkey, Risk Comparison
Figure 5: Turkey, Construction Output Value (Real, US$ billion, 2017 prices and exchange rate)
Figure 6: Turkey, Construction Output Value, Growth Matrix
Figure 7: Turkey, Construction Output Value, by Sector (Real, US$ Million), 2015-2024
Figure 8: Turkey, Construction Projects Pipeline, Projected Annual Spending by Stage (US$ Million), 2019-2024
Figure 9: Turkey, Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 10: Turkey, Commercial Construction Output by Project Type (Real, US$ Million), 2015-2024
Figure 11: Turkey, Commercial Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 12: Turkey, Commercial Construction Projects Pipeline, Projected Annual Spending by Stage (US$ Million), 2019-2024
Figure 13: Turkey, Industrial Construction Output by Project Type (Real, US$ Million), 2015-2024
Figure 14: Turkey, Industrial Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 15: Turkey, Industrial Construction Projects Pipeline, Projected Annual Spending by Stage (US$ Million), 2019-2024

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