Turkey's construction market to grow by $51.64 billion | Increased demand for real estate in Turkey lifts market - Technavio

Turkey's construction market size is projected to increase by USD 51.64 billion from 2021 to 2026. The market is expected to grow at a compound annual growth rate of 5.08%, according to the latest market study conducted by Technavio.

Market growth will be driven by increased demand for Turkish real estate. Technavio has extensively analyzed 15 major companies including 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.

Get a comprehensive overview of the Turkey Construction Market from industry experts to evaluate and strategize growth opportunities. The report offers information on the importance of vendor inputs including R&D, Capital Investment, and Technology. It also provides a detailed analysis of the competitive landscape of the market and the product offerings of the vendors. The report also provides qualitative and quantitative analysis of the vendors to help clients understand the broad business environment and the strengths and weaknesses of the key market players. The data is qualitatively analyzed to classify vendors as single niche focused, category focused, industry focused, and diversified; it is quantitatively analyzed to classify vendors as dominant, leading, strong, tentative, and weak. Future Operations Expansion - To get the details you need, request a customized report.

Assessment of the segmentation of the construction market in Turkey

The Turkey construction market research report broadly covers the segmentation of the construction market in Turkey by end-user (residential, infrastructure, and commercial) and sector (private and public). Market share gains in the residential real estate segment are significant during the forecast period. Factors such as increasing construction of residential real estate and rising investments by foreign investors in infrastructural development are significantly contributing to the growth of this segment.

Key factors influencing the construction market in Turkey

Increasing demand for Turkish real estate is driving market growth during the forecast period. Factors such as growing middle class and increasing access to mortgage financing have facilitated the purchase of residential properties by residents. In addition, promotion and marketing campaigns by banks and lower mortgage interest rates are boosting sales of residential apartments. For example, international buyers purchased 107,000 residential properties in the U.S. valued at $54.4 billion from April 2020 through March 2021, representing declines of 31% and 27%, respectively, from the previous year and the lowest volumes since 2011. Moreover, factors such as improving transportation, telecommunication, tourism, and energy infrastructure in the country will drive the market growth during the forecast period. Significant Trends - increasing focus on earthquake resistant buildings influences the market growth during the forecast period. Major Challenges - increasing cost of building materials is the major challenge hindering the market growth during the forecast period.