Turkey Construction Market - By Type (Residential, Commercial, Industrial, Infrastructure & Heavy Civil, Institutional, Mixed-Use Construction, Specialized, Renovation/Remodeling Construction, Environmental), End-Use, Contracting Type, Scale & Forecast, 2023 – 2032

Published Date: July - 2024 | Publisher: MRA | No of Pages: 240 | Industry: Construction | Format: Report available in PDF / Excel Format

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Turkey Construction Market - By Type (Residential, Commercial, Industrial, Infrastructure & Heavy Civil, Institutional, Mixed-Use Construction, Specialized, Renovation/Remodeling Construction, Environmental), End-Use, Contracting Type, Scale & Forecast, 2023 – 2032

Turkey Construction Market Size

Turkey's construction industry is on a roll! Back in 2022, it was worth a cool $50.71 billion and it's only going to get bigger and better in the next 10 years. Experts predict it'll grow by more than 5% each year, from 2023 to 2032. So, what's driving this construction boom? Well, it's all thanks to the growing number of people moving into cities and the need for more buildings and infrastructure. When people flock to urban areas, they need places to live, work, and enjoy themselves, so the construction sector steps in to build homes, offices, schools, hospitals, and everything else we need to make city life a breeze. And here's the thing, Turkey's cities are growing like crazy because people are looking for better jobs, education, healthcare, and a higher quality of life. So, the construction industry is playing a huge role in meeting this demand and making sure Turkey's cities can handle the influx of new residents.

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The Turkish Government has fully embraced the idea of smart cities and has taken proactive steps to incorporate cutting-edge technologies into urban infrastructure. These initiatives center around the strategic planning and design of cities with an emphasis on digital connectivity, intelligent systems, and sustainable approaches. As a crucial participant in this transformation, the construction industry assumes a vital role in actualizing the physical infrastructure necessary for smart city projects. This involves tasks like installing sensors, establishing communication networks, and implementing smart grids to support and enable the smart city vision.

Turkey Construction Market Report Attributes
Report Attribute Details
Base Year 2022
Turkey Construction Market Size in 2022 USD 50.71 Billion
Forecast Period 2023 to 2032
Forecast Period 2023 to 2032 CAGR 5%
2032 Value Projection USD 81.26 Billion
Historical Data for 2005 - 2032
No. of Pages 200
Tables, Charts & Figures 92
Segments covered Type, end-use, contracting type and, scale
Growth Drivers
  • Government initiatives for smart city infrastructure development
  • Proliferation of sustainable construction across Turkey
  • Government support for the energy & renewable sector
Pitfalls & Challenges
  • Political and geopolitical risks
  • Emerging safety and labor issues

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The Turkey construction market in can be significantly influenced by alterations in government policies. Any changes in regulations, construction codes, taxation, or procurement processes can introduce uncertainties that impact project timelines, expenses, and profitability. In response to these evolving policies, construction companies must be flexible and adept at navigating the shifting landscape, which may present challenges and necessitate adjustments to their business strategies.

COVID-19 Impact

During the COVID-19 pandemic, construction activities were disrupted owing to lockdown measures, supply chain disruptions, and labor shortages. Construction sites were temporarily closed or operated at reduced capacity during the peak of the pandemic, leading to project delays, increased costs, and logistical challenges. Projects in the hospitality, retail, and commercial sectors experienced delays or cancellations due to decreased demand and uncertain market conditions. On the other hand, there was an increased focus on healthcare infrastructure, such as hospitals and medical facilities, to address the immediate needs brought about by the pandemic.

Turkey Construction Market Trends

Turkey has been investing heavily in infrastructure projects, including roads, bridges, airports, and railways. The government's focus on improving transportation networks and urban infrastructure is driving significant construction activity in the country. Moreover, Turkey's rapid urbanization has led to the development of smart cities and the implementation of innovative technologies in construction projects. Smart city initiatives aim to improve the quality of life, enhance sustainability, and optimize resource management through the integration of digital infrastructure and smart systems.

Turkey Construction Market Analysis

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The residential construction segment held approximately 5% of the Turkey construction market share in 2022 and is anticipated to experience robust growth. According to the Turkish Statistical Institute (TÜ?K), in 2021, 137,401 houses were sold, up from 119,574 in 2020. This factor can give an edge over other construction types. Turkey is experiencing significant urbanization with the growing population moving to cities in search of better employment opportunities and improved living standards. This demographic trend creates a demand for residential properties including housing developments, apartment complexes, and residential infrastructure projects.

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The private sector segment captured about 69.24% share of the Turkey construction industry in 2022 and is poised to observe gains at nearly 4.5% up to 2032. Turkey's growing economy and better employment opportunities have boosted disposable incomes, allowing more people to invest in private construction ventures like buying homes, property renovations, and constructing commercial establishments.

Turkey Construction Contracting Type Segmentation

The general contracting segment of Turkey construction market reached USD 25 billion in 2022. Turkey's growing population and urbanization are driving the demand for new infrastructure, residential properties, commercial buildings, and public facilities. General contractors are essential in meeting this demand as they oversee and manage construction projects of various sizes and complexities. Additionally, the Turkish government has been investing significantly in infrastructure development including transportation networks, energy projects, and public services.

Turkey Construction Market Share

Major companies operating in the Turkey construction market include

  • Alarko Holding
  • Ant Yap?
  • Astaldi
  • Do?u? Construction Group
  • Enka ?n?aat ve Sanayi A.? (ENKA)
  • Gülsan Holding
  • IC ?çta? Construction
  • Limak Group
  • Nurol Construction and Trading Co. Inc.
  • Rönesans Holding
  • SK ecoplant
  • Taisei Corporation
  • TAV Construction
  • Tekfen Construction and Installation Co., Inc.
  • Yap? Merkezi

Turkey Construction Industry News

  • In 2021, residential property sales in Turkey increased by 15% year on year. According to the Turkish Statistical Institute (TÜ?K), in 2021, 137,401 houses were sold, up from 119,574 in 2020. This factor can give an edge over other construction types.

This market research report on Turkey construction includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) from 2018 to 2032, for the following segments

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By Type

  • Residential Construction
  • Commercial Construction
    • Sports Facilities Construction
    • Hospitality Facilities Construction
    • Retail Facilities Construction
    • Office Buildings Construction
  • Industrial Construction
  • Infrastructure Construction & Heavy Civil Construction
  • Institutional Construction
    • Healthcare Facilities Construction
    • Educational Facilities Construction
  • Mixed-Use Construction
  • Specialized Construction
  • Renovation/Remodeling Construction
  • Environmental Construction

By End-Use

  • Private sector
  • Public sector

By Contracting Type

  • General contracting
  • Design-build contracting
  • Construction management

By Scale

  • Mega project
  • Major project
  • Medium project
  • Small project

 

 

Table of Content

Report Content

Chapter 1   Methodology & Scope

1.1    Market scope & definition

1.2    Base estimates & calculations

1.3    Forecast calculation

1.4    Data sources

1.4.1    Primary

1.4.2    Secondary

1.4.2.1   Paid sources

1.4.2.2   Public sources

Chapter 2   Executive Summary

2.1    Turkey construction market 360º synopsis, 2005 - 2032

2.2    Business trends

2.3    Construction type trends

2.4    End-use trends

2.5    Contracting trends

2.6    Construction trends

Chapter 3   Turkey Construction Market Industry Insights

3.1    Impact of COVID-19

3.2    Impact of the Russia-Ukraine war

3.3    Industry ecosystem analysis

3.4    Vendor matrix

3.5    Profit margin analysis

3.6    Technology & innovation landscape

3.7    Patent analysis

3.8    Key news and initiatives

3.8.1    Partnership/Collaboration

3.8.2    Merger/Acquisition

3.8.3    Investment

3.8.4    Product launch & innovation

3.9    Regulatory landscape

3.10    Impact forces

3.10.1    Growth drivers

3.10.1.1    Government initiatives for smart city infrastructure development

3.10.1.2    Proliferation of sustainable construction across Turkey

3.10.1.3    Government support for the energy & renewable sector

3.10.2    Industry pitfalls & challenges

3.10.2.1    Political and geopolitical risks

3.10.2.2    Emerging safety and labor issues

3.11    Growth potential analysis

3.12    Porter’s analysis

3.13    PESTEL analysis

Chapter 4   Competitive Landscape, 2022

4.1    Introduction

4.2    Company market share, 2022

4.3    Competitive analysis of major market players, 2022

4.3.1    Company A

4.3.2    Company B

4.3.3    Company C

4.3.4    Company D

4.3.5    Company E

4.4    Competitive positioning matrix, 2022

4.5    Strategic outlook matrix, 2022

Chapter 5   Turkey Construction Market Estimates & Forecast, By Construction Type (Revenue)

5.1    Key trends, by construction type

5.2    Residential Construction

5.3    Commercial Construction

5.3.1    Healthcare Facilities Construction

5.3.2    Educational Facilities Construction

5.4    Industrial Construction

5.5    Infrastructure Construction & Heavy Civil Construction

5.6    Institutional Construction

5.6.1    Sports Facilities Construction

5.6.2    Hospitality Facilities Construction

5.6.3    Retail Facilities Construction

5.6.4    Office Buildings Construction

5.7    Mixed-Use Construction

5.8    Specialized Construction

5.9    Renovation/Remodeling Construction

5.10    Environmental Construction

Chapter 6   Turkey Construction Market Estimates & Forecast, By End-Use (Revenue)

6.1    Key trends, by end-use

6.2    Private sector

6.3    Public sector

Chapter 7   Turkey Construction Market Estimates & Forecast, By Contracting Type (Revenue)

7.1    Key trends, by contracting type

7.2    General contracting

7.3    Design-build contracting

7.4    Construction management

Chapter 8   Turkey Construction Market Estimates & Forecast, By Scale (Revenue)

8.1    Key trends, by scale

8.2    Mega project

8.3    Major project

8.4    Medium project

8.5    Small project

Chapter 9   Company Profiles

9.1    Alarko Holding

9.2   Ant Yap?

9.3    Astaldi

9.4    Do?u? Construction Group

9.5    Do?u? Construction Group

9.6    Gülsan Holding

9.7   IC ?çta? Construction

9.8    Limak Group

9.9    Nurol Construction and Trading Co. Inc.

9.10    Rönesans Holding

9.11    SK ecoplant

9.12    Taisei Corporation

9.13    TAV Construction

9.14    Tekfen Construction and Installation Co., Inc.

9.15    Yap? Merkezi

  • Alarko Holding
  • Ant Yap?
  • Astaldi
  • Do?u? Construction Group
  • Enka ?n?aat ve Sanayi A.? (ENKA)
  • Gülsan Holding
  • IC ?çta? Construction
  • Limak Group
  • Nurol Construction and Trading Co. Inc.
  • Rönesans Holding
  • SK ecoplant
  • Taisei Corporation
  • TAV Construction
  • Tekfen Construction and Installation Co., Inc.
  • Yap? Merkezi

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