Market Research Report
Construction in Turkey, Key Trends and Opportunities to 2020
|Published by||Timetric||Product code||240899|
|Published||Content info||88 Pages
|Construction in Turkey, Key Trends and Opportunities to 2020|
|Published: January 17, 2017||Content info: 88 Pages||
Timetric's Construction in Turkey, Key Trends and Opportunities to 2020 report provides detailed market analysis, information and insights into the Turkish construction industry, including:
In real terms, the Turkish construction industry is expected to perform better over the forecast period (2016-2020) than during the review period (2011-2015). The industry's forecast-period growth will be driven by public and private sector investments in infrastructure, energy, residential and industrial construction projects.
Growth will also be spurred on by the country's Vision 2023, under which the government aims to develop the country into one of the world's largest economies by 2023.
According to the Turkish Statistical Institute (TurkStat), the seasonal and calendar-adjusted average construction production index at a 2010 base prices grew by 1.8%, from 124.5 in 2014 to 126.7 in 2015, while the seasonally and calendar-adjusted construction turnover index rose by 0.5% from 132.9 to 133.6.
The industry's output value in real terms is expected to rise at a compound annual growth rate (CAGR) of 5.19% over the forecast period, up from 2.91% during the review period.
To achieve growth the industry will have to tackle the challenge of rising costs and terrorism. According to TurkStat, the country's average building construction cost index rose by 5.9%, from 199.3 in 2014 to 211.0 in 2015. The labor cost index grew by 8.3% from 220.7 in 2014 to 239.0 in 2015, while the materials cost index grew by 5.2% from 193.8 to 203.8. The country faces security risks due to terrorist attacks, which are expected to weigh on growth potential over the forecast period.
This report provides a comprehensive analysis of the construction industry in Turkey. It provides: