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Turkey Construction Market Size
- Report ID: GMI6253
- Published Date: Jul 2023
- Report Format: PDF
Turkey Construction Market Size
Turkey Construction Market size valued at USD 50.71 billion in 2022 and is projected to grow at a CAGR of over 5% between 2023 and 2032, influenced by the escalating urbanization and population growth. As more people migrate to urban areas, there is a substantial surge in the demand for housing and urban infrastructure. Various factors, such as better economic prospects, improved access to education and healthcare, and an enhanced quality of life, contribute to this trend. To meet the demands of urbanization and population expansion, the construction sector assumes a pivotal role in erecting essential residential, commercial, and public infrastructure.
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.
| 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: |
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| Pitfalls & Challenges: |
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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.
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Turkey Construction Market Scope
