Forecast: Production in Specialized Construction Activities Sector in Turkey

The specialized construction activities sector in Turkey saw fluctuating growth rates from 2013 to 2023. The sector reached 101.68 billion New Turkish Liras by 2023, with a year-on-year growth rate of 4.67% and an average annual growth rate (CAGR) of 2.39% over the last five years. Initially, the sector experienced robust growth, peaking in 2013-2014 with a CAGR of 23.14%. However, the growth rate began to decelerate significantly after 2017. Notably, there was a decline of 4.98% in 2019 followed by modest recovery in subsequent years.

Looking ahead, the sector is projected to continue its upward trend, reaching 123.7 billion New Turkish Liras by 2028, with an expected five-year CAGR of 3.1% and overall growth of 16.51% from 2024 to 2028. Although the forecasted CAGR suggests moderate growth, it is noteworthy compared to the recent historical trends.

Future trends to watch for include potential impacts of global economic conditions, technological advancements in construction methods, and domestic policies affecting infrastructure investment. Additionally, the sector's ability to adapt to increasing demand for sustainable and energy-efficient construction activities could play a critical role in shaping its future growth trajectory.