The production in the construction of roads and railways sector in Turkey has shown significant growth from 2013 to 2023, increasing from 40.88 billion to 139.02 billion New Turkish Liras. The last two years have seen year-on-year variations of 7.56% in 2022 and 6.95% in 2023, indicating a continued upward trend but at a slower pace compared to earlier years. Over the last five years, the compound annual growth rate (CAGR) has averaged 2.24%, reflecting a moderating growth rate in recent years.
The forecasted data from 2024 to 2028 suggests a steady increase, with the sector expected to reach 182.88 billion New Turkish Liras by 2028. The forecasted CAGR for the next five years is 4.33%, indicating moderate but consistent growth, with an overall forecasted growth rate of 23.59% over this period.
Future Trends to Watch:
- Infrastructure investment policies and governmental initiatives in Turkey that could significantly impact growth rates.
- Technological advancements that may enhance construction efficiency and reduce costs.
- Economic factors, such as inflation and foreign investment, affecting the overall sector's financial health.
- Environmental regulations and sustainability trends, which could influence construction practices and project implementations.