Forecast: Production in Civil Engineering Sector in Turkey

The production in the civil engineering sector in Turkey has exhibited significant growth over the past decade, increasing from 70.05 billion New Turkish Liras in 2013 to 215.11 billion in 2023. This represents a notable increase despite some fluctuations and a dip seen in 2019. The year-on-year variation has generally trended upwards, with the highest annual increase recorded in 2018 at 30.35%. Over the last two years, the production increased by 6.43% in 2022 and 5.98% in 2023. The compound annual growth rate (CAGR) over the last five years leading to 2023 was 3.21%, reflecting a moderate growth rate amidst economic challenges.

Looking ahead, the sector is expected to continue its growth trajectory, reaching 274.01 billion New Turkish Liras by 2028. The forecasted 5-year CAGR is 3.82%, with a cumulative growth rate of over 20.64% from 2024 to 2028, indicating steady expansion. Future trends to watch for include the impact of government infrastructure projects, foreign investments, technological advancements in construction, and economic policies that could either bolster or hinder sector growth.