Turkey Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2028
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Turkey Construction Market Report Overview
The Turkey construction market size was $144 billion in 2023. The market will achieve an AAGR of more than 3% during 2025-2028 strengthened by key investment plans, including the National Energy Plan, the Hydrogen Technologies Strategy and Roadmap, and the Transport and Logistics Master Plan.
Turkey Construction Market Outlook, 2023-2028 ($ Billion)
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The Turkey construction market research report gives a comprehensive understanding of project types and construction activities in the country. It analyzes the mega-project pipeline, focusing on development stages, participants, and listings of major projects in the pipeline. The market report further discusses the key sectors in the construction market and their growth drivers. Along with reviewing the details of the construction projects, our analysts have elaborated on emerging trends and assessed key risks and opportunities that will influence Turkey’s construction market growth in the coming years.
Market Size (2023) | $144 billion |
AAGR (2025-2028) | >3% |
Forecast Period | 2023-2028 |
Historical Period | 2019-2022 |
Key Sectors | · Commercial Construction
· Industrial Construction · Infrastructure Construction · Energy and Utilities Construction · Institutional Construction · Residential Construction |
Key Contractors | · Kalyon Insaat AS
· IC Holding · State Atomic Energy Corporation Rosatom · Kolin Insaat Turizm San Ve Tic AS · Gulermak AS |
Key Consultants | · Yuksel Proje
· Engie SA · Cinar Muhendislik Musavirlik AS · Prota Engineering Project and Consultancy Inc · AECOM |
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Turkey Construction Market Segmentation by Sectors
The residential construction sector accounted for the highest market share in the Turkey construction market in 2023
The key sectors in the Turkey construction market are commercial construction, industrial construction, infrastructure construction, energy and utilities construction, institutional construction, and residential construction.
Commercial construction: The project types in this sector include leisure and hospitality buildings, office buildings, outdoor leisure facilities, retail buildings, and other commercial construction. Over the forecasted period, an upturn in domestic demand, improvement in business confidence, and retail and tourism activities will support the commercial sector’s output.
Industrial construction: The project types in this sector include chemical and pharmaceutical plants, manufacturing plants, metal and material production and processing plants, and waste processing plants. Over the forecasted period, a gradual pick up in industrial, manufacturing, and export activities, coupled with investment in the country’s auto sector, in line with the rising demand for electric vehicles (EVs) will support the sector’s output.
Infrastructure construction: The project types in this sector include rail infrastructure, road infrastructure, and other infrastructure projects. The government’s commitment to developing transport infrastructure through the 30-year Transport and Logistics Master Plan will drive the infrastructure construction sector growth in the coming years.
Energy and utilities construction: The project types in this sector include electricity and power, oil and gas, telecommunications, sewage infrastructure, and water infrastructure. Investments in the renewable energy sector, in line with the government’s target to reduce greenhouse gas emissions by 2030 and to achieve a net zero emission target by 2053 will support the sector’s growth.
Institutional construction: The project types in this sector include educational buildings, healthcare buildings, institutional buildings, research facilities, and religious buildings. Public and private sector investments in educational and healthcare facilities will fuel the sector’s growth during the forecast period.
Residential construction: The project types in this sector include single-family housing and multi-family housing. An increase in building permits issued in the country, investments in rebuilding housing damaged by the earthquake in February 2023, as well as building new homes for those displaced will fuel the sector’s growth.
Turkey Construction Market Analysis by Sectors, 2023 (%)
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Turkey Construction Market - Competitive Landscape
Kalyon Insaat AS emerged as the leading contractor and Yuksel Proje was the leading consultant in the Turkey construction market in 2023
A few of the leading contractors in the Turkey construction market are:
- Kalyon Insaat AS
- IC Holding
- State Atomic Energy Corporation Rosatom
- Kolin Insaat Turizm San Ve Tic AS
- Gulermak AS
Domestic contractors account for a majority share of the project pipeline in the Turkey construction market.
Turkey Construction Market Analysis by Contractors, 2023 (%)
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A few of the leading consultants in the Turkey construction market are:
- Yuksel Proje
- Engie SA
- Cinar Muhendislik Musavirlik AS
- Prota Engineering Project and Consultancy Inc
- AECOM
Consultants with headquarters within Turkey are involved in most of the project pipeline by value.
Turkey Construction Market Analysis by Consultants, 2023 (%)
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Turkey Construction Market - Latest Developments
- The largest commercial project currently in the pipeline is the Adana New Consulate Compound, which is in the pre-execution stage and involves the construction of a 12,800m2 new office building.
- The largest infrastructure project in the pipeline is the Istanbul Canal Development project, which involves the construction of a 45km length canal with a depth of 25m and a width of 250-1,000m to handle 160 vessels of water per day, parallel to the existing Bosporus canal.
Segments Covered in the Report
Turkey Construction Sectors Outlook (Value, $ Billion, 2019-2028)
- Commercial Construction
- Industrial Construction
- Infrastructure Construction
- Energy and Utilities Construction
- Institutional Construction
- Residential Construction
Scope
This report provides:
- A comprehensive analysis of the construction industry in Turkey.
- 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 GlobalData’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 GlobalData’s critical and actionable insight.
- Assess business risks, including cost, regulatory, and competitive pressures.
- Evaluate competitive risk and success factors.
Table of Contents
Table
Figures
Frequently asked questions
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What was the construction market size in Turkey in 2023?
The construction market size in Turkey was $144 billion in 2023.
-
What will the Turkey construction market growth rate be during the forecast period?
The construction market in Turkey is projected to achieve an AAGR of more than 3% during 2025-2028.
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Which sector accounted for the highest share of the Turkey construction market in 2023?
The residential construction sector accounted for the highest market share in the Turkey construction market in 2023
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Which are the leading contractors in the Turkey construction market?
A few of the leading contractors in the Turkey construction market are Kalyon Insaat AS, IC Holding, State Atomic Energy Corporation Rosatom, Kolin Insaat Turizm San Ve Tic AS, and Gulermak AS, among others.
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Which are the leading consultants in the Turkey construction market?
A few of the leading consultants in the Turkey construction market are Yuksel Proje, Engie SA, Cinar Muhendislik Musavirlik AS, Prota Engineering Project and Consultancy Inc., and AECOM, among others.
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