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Turkey Construction Market Trends

Report ID: GMI6253
Published Date: Jul 2023
Report Format: PDF

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Turkey Construction Market Trends

Turkey has been investing heavily in infrastructure projects, including roads, bridges, airports, and railways. The government's focus on improving transportation networks and urban infrastructure is driving significant construction activity in the country. Moreover, Turkey's rapid urbanization has led to the development of smart cities and the implementation of innovative technologies in construction projects. Smart city initiatives aim to improve the quality of life, enhance sustainability, and optimize resource management through the integration of digital infrastructure and smart systems.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market size for construction in Turkey reached USD 50.71 billion in 2022 and will witness over 5% CAGR from 2023 to 2032, led by escalating urbanization and population growth.

Turkey residential construction industry size recorded about 15% of the overall revenue share in 2022, due to the growing population moving to cities in search of better employment opportunities and improved living standards.

The private end-use segment recorded 69.24% of the Turkey construction market share in 2022 and will observe nearly 4.5% CAGR from 2023 to 2032, owing to the rising disposable incomes along with increasing investments for buying homes and property renovations.