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Turkey Construction Market Size, Trends and Forecasts by Sector – Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026

The Turkey construction market size was valued at $113.4 billion in 2021. The market is projected to grow at an AAGR of more than 4% during the period 2023-2026. It is expected that the Turkey construction market output in this year will be affected by the Russia-Ukraine crisis.

The Turkey construction market report provides a detailed analysis of Turkey’s construction industry’s growth prospects by market, project type, and construction activity. It also provides critical insights into the impact of industry trends and issues as well as an analysis of key risks and opportunities in the construction industry. Moreover, it provides an analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.

Turkey construction market overview

Turkey construction market overview

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What are the key sectors in the Turkey construction market?

The key sectors in the Turkey construction market are commercial construction, industrial  construction, infrastructure construction, energy & utilities construction, institutional construction, and residential construction. 

Commercial construction market in Turkey

Investment into the commercial construction sector is likely to be affected by the ongoing Russia-Ukraine crisis. Moreover, a weak lira and high inflation will squeeze domestic household incomes and dampen demand in the retail and leisure sectors.

Industrial construction market in Turkey

Industrial output is likely to be impacted by supply chain disruptions, higher raw material prices and disruptions to energy supply, owing to the ongoing Russia-Ukraine crisis. Investment into new manufacturing plants is therefore expected to be weak in 2022.

Infrastructure construction market in Turkey

The infrastructure sector is expected to register an annual growth in real terms in 2022, before recording an annual average growth from 2023 to 2026, supported by public investment into transport infrastructure to improve regional connectivity in the country.

Energy & utilities construction market in Turkey

The energy and utilities sector’s output over the forecast period will be driven by spending on renewable energy and natural gas storage projects, with the total storage capacity of Silivri and Tuz Golu underground storage facilities expected to rise by 2023.

Institutional construction market in Turkey

The institutional sector is expected to grow in 2022 and the growth will be supported by investment in the education and healthcare sectors.

Residential construction market in Turkey

The institutional sector is expected to contract by in real terms this year, before rebounding to an annual average growth rate from 2023 to 2026. The sector’s output over the forecast period will be supported by the government’s focus on the health and education sectors, coupled with investments on healthcare buildings, in line with the rising elderly population in the country.

Turkey construction market analysis by sectors

Turkey construction market analysis by sectors

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Who are the key contractors in the Turkey construction market?

The key contractors in the Turkey construction market are State Atomic Energy Corporation Rosatom, Limak Holding Inc., Kolin Insaat Turizm San Ve Tic AS, Dogus Grubu, Yapi Merkezi Holding Inc., Daliem Group, Gap Insaat, Tekfen Holding AS, YSE Yapi Sanayi, and Agaoglu.

Turkey construction market analysis by contractors

Turkey construction market analysis by contractors

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Who are the key consultants in the Turkey construction market?

The key consultants in the Turkey construction market are Yuksel Proje, Engie SA, Cinar Muhendislik Musavirlik AS, Prota Engineering Project and Consultancy Inc., AECOM, Tekfen Holding AS, Emay Uluslararasi Muhendislik ve Musavirlik AS, Som Proje, Arup Group Ltd, and Bosphorus Technical Consulting Corporation.

Turkey construction market analysis by consultants

Turkey construction market analysis by consultants

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Market report scope

Market size (Year – 2021) $113.4 billion
Growth rate – AAGR (2023 – 2026)  >4%
Forecast period 2022-2026
Key sectors Commercial Construction, Industrial Construction, Infrastructure Construction, Energy & Utilities Construction, Institutional Construction, and Residential Construction
Key contractors State Atomic Energy Corporation Rosatom, Limak Holding Inc., Kolin Insaat Turizm San Ve Tic AS, Dogus Grubu, Yapi Merkezi Holding Inc., Daliem Group, Gap Insaat, Tekfen Holding AS, YSE Yapi Sanayi, and Agaoglu
Key consultants Yuksel Proje, Engie SA, Cinar Muhendislik Musavirlik AS, Prota Engineering Project and Consultancy Inc., AECOM, Tekfen Holding AS, Emay Uluslararasi Muhendislik ve Musavirlik AS, Som Proje, Arup Group Ltd, and Bosphorus Technical Consulting Corporation

Scope

This report provides a comprehensive analysis of the construction industry in Turkey. It provides –

  • Historical and forecast 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.

Table of Contents

Table of Contents

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 COVID-19 Status

3.5 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

7.4 GlobalData Construction

Contact Us

List of Tables

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), 2017-26

Table 4: Turkey, Top Commercial Construction Projects by Value

Table 5: Turkey, Industrial Construction Output by Project Type (Real % Change), 2017-26

Table 6: Turkey, Top Industrial Construction Projects by Value

Table 7: Turkey, Infrastructure Construction Output by Project Type (Real % Change), 2017-26

Table 8: Turkey, Top Infrastructure Construction Projects by Value

Table 9: Turkey, Energy and Utilities Construction Output by Project Type (Real % Change), 2017-26

Table 10: Turkey, Top Energy and Utilities Construction Projects by Value

Table 11: Turkey, Institutional Construction Output by Project Type (Real % Change), 2017-26

Table 12: Turkey, Top Institutional Construction Projects by Value

Table 13: Turkey, Residential Construction Output by Project Type (Real % Change), 2017-26

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

List of Figures

Figure 1: Eastern Europe, Construction Output (Real % Change), 2020-26

Figure 2: Turkey, Construction Output by Sector (Real % Change), 2020-22 and 2023-26

Figure 3: Turkey, COVID-19 Confirmed Cases

Figure 4: Turkey, Risk Summary

Figure 5: Turkey, Risk Regional Comparison

Figure 6: Turkey, Construction Output Value (Real, $ Billion, 2017 Prices and Exchange Rate), 2017-26

Figure 7: Turkey, Construction Output Value, by Sector (Real, $ Million), 2017-26

Figure 8: Turkey, Construction Value Add (TRY Million, 2009 Chain Linked Volume Measures)

Figure 9: Turkey, Construction Cost Index, 2015=100

Figure 10: Turkey, Building Activity Index and Construction Confidence Index, Seasonally Adjusted (2015=100)

Figure 11: Turkey, Construction Turnover Index, Seasonal and Calendar Adjusted, Nominal % Change YoY

Figure 12: Turkey, Building Permits, In Thousand m2

Figure 13: Turkey, Number of People Employed in the Construction Industry, In Thousands

Figure 14: Turkey, Gross Fixed Capital Formation (TRY Million, 2009 Chain Linked Volume Measures)

Figure 15: Turkey, Construction Projects Momentum Index

Figure 16: Region, Construction Projects Momentum Index

Figure 17: Turkey, Commercial Construction Output by Project Type (Real, $ Million), 2017-26

Figure 18: Turkey, Commercial Construction Projects Pipeline, Value by Stage ($ Million)

Figure 19: Turkey, Floor Area of Permits Approved for the Construction of Commercial Buildings, In Thousand m2

Figure 20: Turkey, Services Value Add (TRY Million, 2009 Chain Linked Volume Measures)

Figure 21: Turkey, Total Foreign Visitors Arrivals, In Thousands

Figure 22: Turkey, Retail Sales Volume Index (2015=100)

Figure 23: Turkey, Industrial Construction Output by Project Type (Real, $ Million), 2017-26

Figure 24: Turkey, Industrial Construction Projects Pipeline, Value by Stage ($ Million)

Figure 25: Turkey, Manufacturing Value Add (TRY Million, 2009 Chain Linked Volume Measures)

Figure 26: Turkey, Capacity Utilization Rate in The Manufacturing Industry

Figure 27: Turkey, Industrial and Manufacturing Production Indices, Seasonally and Calendar Adjusted (2015=100)

Figure 28: Turkey, Total Export ($ Million)

Figure 29: Turkey, Passenger Cars and Light Commercial Vehicle Sales

Figure 30: Turkey, Infrastructure Construction Output by Project Type (Real, $ Million), 2017-26

Figure 31: Turkey, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)

Figure 32: Turkey, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2017-26

Figure 33: Turkey, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)

Figure 34: Turkey, Information and Communication Value Add (TRY Million, 2009 Chain Linked Volume Measures)

Figure 35: Turkey, Production Index of Electricity, Gas, Steam and Air Conditioning Supply, Seasonally and Calendar Adjusted (2015=100)

Figure 36: Turkey, Institutional Construction Output by Project Type (Real, $ Million), 2017-26

Figure 37: Turkey, Institutional Construction Projects Pipeline, Value by Stage ($ Million)

Figure 38: Turkey, Value Add of Public Administration, Education, Human Health and Social Work Activities, In TRY Million, 2009 Chain Linked Volume Measures

Figure 39: Turkey, Floor Area of Construction Permits Approved for Public Entertainment, Education, Hospital or Institutional Care Buildings, In Thousand m2

Figure 40: Turkey, Residential Construction Output by Project Type (Real, $ Million), 2017-26

Figure 41: Turkey, Residential Construction Projects Pipeline, Value by Stage ($ Million)

Figure 42: Turkey, Real Estate Value Add (TRY Million, 2009 Chain Linked Volume Measures)

Figure 43: Turkey, Floor Area of Residential Permits, In Thousand m2

Figure 44: Turkey, House Sales, In Number

Figure 45: Turkey, Residential Property Price Index (RPPI) (2017=100)

Figure 46: Turkey, Headquarters of Key Contractors (% of Total Project Pipeline)

Figure 47: Turkey, Headquarters of Key Consultants (% of Total Project Pipeline)

Frequently Asked Questions

The construction market size in Turkey was valued at $113.4 billion in 2021.

 

 

 

 

The construction market in Turkey is projected to grow at an AAGR of more than 4% during the period 2023 to 2026.

The key sectors in the Turkish construction market are commercial construction, industrial construction, infrastructure construction, energy & utilities construction, institutional construction, and residential construction.

The key contractors in the Turkish construction market are State Atomic Energy Corporation Rosatom, Limak Holding Inc., Kolin Insaat Turizm San Ve Tic AS, Dogus Grubu, Yapi Merkezi Holding Inc., Daliem Group, Gap Insaat, Tekfen Holding AS, YSE Yapi Sanayi, and Agaoglu.

The key consultants in the Turkish construction market are Yuksel Proje, Engie SA, Cinar Muhendislik Musavirlik AS, Prota Engineering Project and Consultancy Inc., AECOM, Tekfen Holding AS, Emay Uluslararasi Muhendislik ve Musavirlik AS, Som Proje, Arup Group Ltd, and Bosphorus Technical Consulting Corporation..

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