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Turkey Construction Industry Report 2024: Market to Grow at a Revised Rate of 2.8% in Real Terms this Year - Forecasts to 2028 -

The "Turkey Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2024-2028" report has been added to's offering.

The analyst has revised its growth projection upwards for 2024 to 2.8% in real terms, from the earlier forecast of 1.6%, which is supported by public and private sector investments into the construction of energy and residential building projects; coupled with a rise in building permits issued and the construction turnover index the outlook for the construction industry appears more positive.

According to Turkish Statistical Institute (TurkStat), the total floor area of permits issued for the construction of buildings rose by 13.8% year on year (YoY) in 2023, while the turnover index grew by 101.7% YoY during the same period. These positive indicators for the construction industry come in the midst of the aftermath of the two earthquakes that occurred around the region in 2023; with the governments delayed response and many buildings yet to be repaired or rebuilt, demand in Turkey's construction industry is likely to be strong for the foreseeable future.

Over the long term, the Turkish construction industry's growth will be supported by key investment plans, including the National Energy Plan, the Hydrogen Technologies Strategy and Roadmap, and the Transport and Logistics Master Plan. As part of the 30-year Transport and Logistics Master Plan, the government plans to invest TRY4.6 trillion ($197.9 billion) in rail, road, maritime, air transport, and communication sectors from 2023 to 2053. Some of the targets outlined in the plan include expanding railway network from 13,000km in 2022 to 29,000km in 2053, and road network from 28,650km to 38,000km, over the same period.

The energy and utilities construction sector will be supported by the 2030 Energy Efficiency Strategy and Action Plan, revealed by the energy minister in January 2024. Under which, the government plans to invest TRY667 billion ($20 billion) in energy efficiency projects in the public and private sectors by 2030. The plan consists of 10 strategic goals and 23 targets to be implemented between 2024 and 2030, thereby reducing 100 million tons of emissions during the period.


  • 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

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