The data shows that Turkey's construction value-added was $92.432 billion in 2023. Over the past two years leading up to 2023, the year-on-year percentage variations were 2.8% in 2022 and 2.67% in 2023, indicating a gradual but steady growth. The compound annual growth rate (CAGR) over the last five actual years was 2.95%, reflecting a moderate upward trajectory.
In terms of future forecasts, the construction value-added is expected to continue growing, reaching $103.74 billion by 2028. This forecasts an average annual growth rate (CAGR) of 1.82% over the next five years and a total growth rate of 9.44% over this period.
The trends to watch for in the future include potential fluctuations in the Turkish economy, shifts in government policies related to infrastructure spending, and the impact of global economic conditions on foreign investments in Turkey's construction sector. Additionally, technological advancements and sustainability measures could play a significant role in shaping the industry’s medium to long-term outlook.
Latest reports
US Construction Market Report- Q1 2025
The US construction market in Q1 2025 is characterized by both opportunities and challenges, influenced by economic conditions, trade policies, and technological advancements....
China Construction Market Report- Q1 2025
The first quarter of 2025 presents a dynamic period for the construction industry in China, characterized by significant advancements and emerging challenges. The...
Japan Construction Market Report- Q1 2025
In the first quarter of 2025, Japan's construction industry is experiencing significant transformations driven by sustainability, technological integration, and regulatory influences. The market...
Germany Construction Market Report- Q4 2024
In the fourth quarter of 2024, Germany's construction market experienced significant developments influenced by global investments, economic challenges, and strategic shifts. This period...
India Construction Market Report- Q1 2025
The first quarter of 2025 presents a dynamic landscape for the construction market in India, driven by robust activities across residential, commercial, and...
UK Construction Market Report- Q1 2025
The UK construction industry in Q1 2025 demonstrated resilience amidst various economic pressures. Despite challenges such as rising inflation, high interest rates, and...
France Construction Market Report- Q1 2025
The France construction market in Q1 2025 reflects a dynamic interplay of economic, regulatory, and technological factors reshaping the industry's landscape. As France...
Brazil Construction Market Report- Q1 2025
In the first quarter of 2025, the construction sector in Brazil is experiencing dynamic growth fueled by significant infrastructure investments, a shift toward...
Italy Construction Market Report- Q1 2025
The first quarter of 2025 presents a multifaceted landscape for Italy's construction market, influenced by a convergence of economic, regulatory, and technological factors....
South Korea Construction Market Report- Q1 2025
The South Korean construction market in Q1 2025 is navigating a complex landscape shaped by economic challenges, geopolitical tensions, and emerging technological trends....
