NEW YORK, March 10, 2022 /PRNewswire/ -- Construction Market in Turkey Facts at a Glance-
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The Construction Market in Turkey is expected to grow by USD 51.64 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.08%. The construction market share growth in Turkey by the residential segment will be significant for revenue generation. The residential segment of the market in focus will be mainly driven by the real estate sector, including residential housing and investment in real estate done by foreign investors.
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Vendor Insights-
The Construction Market in Turkey is fragmented, and the vendors are deploying growth strategies such as focusing on product delivery through multiple distribution channels to compete in the market.
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Latest Drivers & Trends Driving the Market-
The key factor driving the construction market growth in Turkey is the augmented demand for Turkey real estate properties. The key reasons for the increase in the sales of residential flats are the ongoing promotional campaigns by banks and the easing of home loan interest rates. Moreover. The increasing middle-income group and access to mortgage finance have encouraged residential home buyers to purchase more homes. For instance, International buyers purchased 107,000 US residential properties totaling USD 54.4 billion from April 2020 to March 2021, down 31% and 27%, respectively, from the previous year and the lowest volumes since 2011. Moreover, a majority of the foreign investors are planning to invest in apartment buildings in several cities, especially in Istanbul, which is well connected to tourist destinations and business districts. Other factors such as the improvement in transportation, telecommunication, tourism, and power infrastructure in the country will further enhance the demand for real estate in Turkey during the forecast period.
The key trend driving the construction market growth in Turkey is the increasing focus on building earthquake-resilient buildings. The Government of Turkey has decided to focus on developing the urban areas, and plans for the Urban Renewal Project have been the highlights for the development of earthquake-safe homes. Moreover, in the Urban Renewal Project, the government has demolished 7 million houses, which are facing earthquake hazards and risks. Additionally, the project will focus on the high earthquake-risk cities such as Istanbul, Burdur, Bursa, Izmir, and other neighborhoods of Istanbul's Kadikoy district. The Turkish government will provide financial aid to the owners of the demolished buildings with interest-free loans for new properties and a one-off payment to the inhabitants. Thus, such factors are expected to positively impact the market growth during the forecast period.
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Construction Market In Turkey Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.08% |
Market growth 2022-2026 |
USD 51.64 billion |
Market structure |
Fragmented |
YoY growth (%) |
4.76 |
Regional analysis |
Turkey |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Akdeniz Construction and Education, Alarko Holdings AS, Aydiner Construction Co. Inc., Beytturk, Dere Construction, ENKA insaat ve Sanayi AS, Feka, Ronesans Holding AS, TAV Tepe Akfen Investment Construction, and Tekfen Construction |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized |
Table of Contents:
***1. Executive Summary
**1.1 Market Overview
*Exhibit 01: Key Finding 1
*Exhibit 02: Key Finding 2
*Exhibit 03: Key Finding 6
*Exhibit 04: Key Finding 5
*Exhibit 05: Key Finding 7
***2. Market Landscape
**2.1 Market ecosystem
*Exhibit 06: Parent market
*Exhibit 07: Market Characteristics
**2.2 Value chain analysis
*Exhibit 08: Value chain analysis : Construction and Engineering
*2.2.1 Inputs
*2.2.2 Inbound logistics
*2.2.3 Operations
*2.2.4 Marketing and sales
*2.2.5 Support activities
*2.2.5 Support activities
***3. Market Sizing
**3.1 Market definition
*Exhibit 09: Offerings of vendors included in the market definition
**3.2 Market segment analysis
*Exhibit 10: Market segments
**3.3 Market size 2021
**3.4 Market outlook: Forecast for 2021 - 2026
*3.4.1 Estimating growth rates for emerging and high-growth markets
*3.4.2 Estimating growth rates for mature markets
*Exhibit 11: Global - Market size and forecast 2021 - 2026 ($ billion)
*Exhibit 12: Global market: Year-over-year growth 2021 - 2026 (%)
***4. Five Forces Analysis
**4.1 Five Forces Summary
*Exhibit 13: Five forces analysis 2021 & 2026
**4.2 Bargaining power of buyers
*Exhibit 14: Bargaining power of buyers
**4.3 Bargaining power of suppliers
*Exhibit 15: Bargaining power of suppliers
**4.4 Threat of new entrants
*Exhibit 16: Threat of new entrants
**4.5 Threat of substitutes
*Exhibit 17: Threat of substitutes
**4.6 Threat of rivalry
*Exhibit 18: Threat of rivalry
**4.7 Market condition
*Exhibit 19: Market condition - Five forces 2021
***5. Market Segmentation by End-user
**5.1 Market segments
*The segments covered in this chapter are:
· *Residential
· *Infrastructure
· *Commercial
*Exhibit 20: End-user - Market share 2021-2026 (%)
**5.2 Comparison by End-user
*Exhibit 21: Comparison by End-user
**5.3 Residential - Market size and forecast 2021-2026
*Exhibit 22: Residential - Market size and forecast 2021-2026 ($ billion)
*Exhibit 23: Residential - Year-over-year growth 2021-2026 (%)
**5.4 Infrastructure - Market size and forecast 2021-2026
*Exhibit 24: Infrastructure - Market size and forecast 2021-2026 ($ billion)
*Exhibit 25: Infrastructure - Year-over-year growth 2021-2026 (%)
**5.5 Commercial - Market size and forecast 2021-2026
*Exhibit 26: Commercial - Market size and forecast 2021-2026 ($ billion)
*Exhibit 27: Commercial - Year-over-year growth 2021-2026 (%)
**5.6 Market opportunity by End-user
*Exhibit 28: Market opportunity by End-user
***6. Market Segmentation by Sector
**6.1 Market segments
*The segments covered in this chapter are:
· *Private
· *Public
*Exhibit 29: Sector - Market share 2021-2026 (%)
**6.2 Comparison by Sector
*Exhibit 30: Comparison by Sector
**6.3 Private - Market size and forecast 2021-2026
*Exhibit 31: Private - Market size and forecast 2021-2026 ($ billion)
*Exhibit 32: Private - Year-over-year growth 2021-2026 (%)
**6.4 Public - Market size and forecast 2021-2026
*Exhibit 33: Public - Market size and forecast 2021-2026 ($ billion)
*Exhibit 34: Public - Year-over-year growth 2021-2026 (%)
**6.5 Market opportunity by Sector
*Exhibit 35: Market opportunity by Sector
***7. Customer Landscape
**7.1 Overview
*Exhibit 36: Customer landscape
***8. Drivers, Challenges, and Trends
**8.1 Market drivers
*8.1.1 Augmented demand for Turkey real estate properties
*8.1.2 Rising investment in public infrastructure projects
*8.1.3 Growing foreign tourism in Turkey
**8.2 Market challenges
*8.2.1 Rising cost of construction materials
*8.2.2 Depreciation of Turkish Lira
*8.2.3 Difficulty in financing construction projects
*Exhibit 37: Impact of drivers and challenges
**8.3 Market trends
*8.3.1 Increasing focus on building earthquake-resilient buildings
*8.3.2 Development of green buildings
*8.3.3 Adoption of dry construction techniques
***9. Vendor Landscape
**9.1 Overview
*Exhibit 38: Vendor landscape
**9.2 Landscape disruption
*Exhibit 39: Landscape disruption
*Exhibit 40: Industry risks
**9.3 Competitive Scenario
***10. Vendor Analysis
**10.1 Vendors covered
*Exhibit 41: Vendors covered
**10.2 Market positioning of vendors
*Exhibit 42: Market positioning of vendors
**10.3 Akdeniz Construction and Education
*Exhibit 43: Akdeniz Construction and Education - Overview
*Exhibit 44: Akdeniz Construction and Education - Product and service
*Exhibit 45: Akdeniz Construction and Education - Key offerings
**10.4 Alarko Holdings AS
*Exhibit 46: Alarko Holdings AS - Overview
*Exhibit 47: Alarko Holdings AS - Business segments
*Exhibit 48: Alarko Holdings AS - Key offerings
*Exhibit 49: Alarko Holdings AS - Segment focus
**10.5 Aydiner Construction Co. Inc.
*Exhibit 50: Aydiner Construction Co. Inc. - Overview
*Exhibit 51: Aydiner Construction Co. Inc. - Product and service
*Exhibit 52: Aydiner Construction Co. Inc. - Key offerings
**10.6 Beytturk
*Exhibit 53: Beytturk - Overview
*Exhibit 54: Beytturk - Product and service
*Exhibit 55: Beytturk - Key offerings
**10.7 Dere Construction
*Exhibit 56: Dere Construction - Overview
*Exhibit 57: Dere Construction - Product and service
*Exhibit 58: Dere Construction - Key offerings
**10.8 ENKA insaat ve Sanayi AS
*Exhibit 59: ENKA insaat ve Sanayi AS - Overview
*Exhibit 60: ENKA insaat ve Sanayi AS - Business segments
*Exhibit 61: ENKA insaat ve Sanayi AS - Key offerings
*Exhibit 62: ENKA insaat ve Sanayi AS - Segment focus
**10.9 Feka
*Exhibit 63: Feka - Overview
*Exhibit 64: Feka - Product and service
*Exhibit 65: Feka - Key offerings
**10.10 Ronesans Holding AS
*Exhibit 66: Ronesans Holding AS - Overview
*Exhibit 67: Ronesans Holding AS - Product and service
*Exhibit 68: Ronesans Holding AS - Key offerings
**10.11 TAV Tepe Akfen Investment Construction
*Exhibit 69: TAV Tepe Akfen Investment Construction - Overview
*Exhibit 70: TAV Tepe Akfen Investment Construction - Product and service
*Exhibit 70: TAV Tepe Akfen Investment Construction - Key offerings
**10.12 Tekfen Construction
*Exhibit 71: Tekfen Construction - Overview
*Exhibit 72: Tekfen Construction - Product and service
*Exhibit 73: Tekfen Construction - Key offerings
***11. Appendix
**11.1 Scope of the report
*11.1.1 ????Market definition
*11.1.2 Objective
*11.1.3 Notes and caveats
**11.2 Currency conversion rates for US$
*Exhibit 74: Currency conversion rates for US$
**11.3 Research Methodology
*Exhibit 75: Research Methodology
*Exhibit 76: Validation techniques employed for market sizing
*Exhibit 77: Information sources
**11.4 List of abbreviations
*Exhibit 78: List of abbreviations
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