Between 2014 and 2023, the number of high-growth enterprises in iron ore mining in Turkey exhibited significant variability. The count stood at 17 in 2023, with a notable year-on-year increase of 30.77%. The CAGR over the last five years was substantial at 41.47%, indicating a steady upward trend.

Historically, the industry saw sharp declines, particularly in 2015 and 2020, with decreases of 60% each year, but also steep recoveries, such as the 233.33% increase in 2019. These fluctuations are indicative of the volatile nature of the sector.

Future trends to watch for include:

Consistent growth with a forecasted CAGR of 3.9% from 2024 to 2028.
Continued expansion with the number of enterprises predicted to reach 23 by 2028.
Potential impacts of global iron ore demand, regulatory changes, and technological advancements in mining practices.