Dublin, Sept. 27, 2024 (GLOBE NEWSWIRE) -- The "Turkey Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2028 (Q2 2024)" report has been added to ResearchAndMarkets.com's offering.
Construction industry in Turkey to grow by 5.4% in real terms in 2024, supported by rising building approvals, coupled with public and private investment in industrial and energy projects.
According to the Turkish Statistical Institute (TurkStat), the total floor area of buildings permits issued rose by 33.4% year-on-year (YoY) in Q1 2024, following an overall annual growth of 14.9% in 2023. In another boost to the industry, the total construction turnover index grew by 101% YoY during January-April 2024, following an overall annual growth of 101.9% in 2023.
The Turkish construction industry is expected to record an annual average growth of 3.7% from 2025 to 2028, supported by investment in transport infrastructure, coupled with developments in the energy and residential sectors. In February 2024, the Turkish government unveiled the 2024 rail program, which includes the development of 131km of new double track alignments, civil works for the 498km Ankara-Izmir high-speed line, work on the 433km Ankara-Istanbul high speed line, design work and early construction in the corridor connecting Konya, Karaman, Nigde, Mersin, and Adana, and the electrification of 2,270km of existing route by the end of 2028.
The Energy and Natural Resources Ministry's (MENR) aim of increasing the percentage of renewable energy sources in total energy consumption from 16.7% in 2020 to 23.7% in 2035 will also contribute to the construction industry's growth over the coming years. In May 2024, the World Bank and the Turkish development banks signed a program agreement worth TRY33.4 billion ($1 billion), which will support the country's transition to a renewable energy market.
Scope
- 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 the analyst'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 the analyst's critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
Key Topics Covered:
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
For more information about this report visit https://www.researchandmarkets.com/r/feldnj
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