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Construction in Turkey, Key Trends and Opportunities to 2020

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Details

Timetric's Construction in Turkey, Key Trends and Opportunities to 2020 report provides detailed market analysis, information and insights into the Turkish construction industry, including:

The Turkish construction industry's growth prospects by market, project type and construction activity

Analysis of equipment, material and service costs for each project type in Turkey

Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in the Turkish construction industry

Profiles of the leading operators in the Turkish construction industry

Data highlights of the largest construction projects in Turkey

Summary

In real terms, the Turkish construction industry is expected to perform better over the forecast period (2016-2020) than during the review period (2011-2015). The industry's forecast-period growth will be driven by public and private sector investments in infrastructure, energy, residential and industrial construction projects.

Growth will also be spurred on by the country's Vision 2023, under which the government aims to develop the country into one of the world's largest economies by 2023.

According to the Turkish Statistical Institute (TurkStat), the seasonal and calendar-adjusted average construction production index at a 2010 base prices grew by 1.8%, from 124.5 in 2014 to 126.7 in 2015, while the seasonally and calendar-adjusted construction turnover index rose by 0.5% from 132.9 to 133.6.

The industry's output value in real terms is expected to rise at a compound annual growth rate (CAGR) of 5.19% over the forecast period, up from 2.91% during the review period.

To achieve growth the industry will have to tackle the challenge of rising costs and terrorism. According to TurkStat, the country's average building construction cost index rose by 5.9%, from 199.3 in 2014 to 211.0 in 2015. The labor cost index grew by 8.3% from 220.7 in 2014 to 239.0 in 2015, while the materials cost index grew by 5.2% from 193.8 to 203.8. The country faces security risks due to terrorist attacks, which are expected to weigh on growth potential over the forecast period.

Scope

This report provides a comprehensive analysis of the construction industry in Turkey. It provides:

Historical (2011-2015) and forecast (2016-2020) valuations of the construction industry in Turkey using construction output and value-add methods

Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by project type

Breakdown of values within each project type, by type of activity (new construction, repair and maintenance, refurbishment and demolition) and by type of cost (materials, equipment and services)

Analysis of key construction industry issues, including regulation, cost management, funding and pricing

Detailed profiles of the leading construction companies in Turkey

Reasons To Buy

Identify and evaluate market opportunities using Timetric's standardized valuation and forecasting methodologies.

Assess market growth potential at a micro-level with over 600 time-series data forecasts.

Understand the latest industry and market trends.

Formulate and validate strategy using Timetric's critical and actionable insight.

Assess business risks, including cost, regulatory and competitive pressures.

Evaluate competitive risk and success factors.

Key Highlights

In terms of building permits, there has been clear evidence of improvement in residential and non-residential construction, according to data from TurkStat. The total number of building permits issued grew by 5.0%, from 89,577 in January-September 2015 to 94,015 in January-September 2016. This was preceded by an annual contraction of 12.3% in 2015.

To finance infrastructure construction projects, including airport, rail, road and seaports, Turkey's parliament approved the national Sovereign Wealth Fund (SWF) in August 2016. Through this the government aims to resolve financing issues for mega construction projects that do not have a build-operate-finance model. The fund is expected to lead to the announcement of more infrastructure projects over the forecast period.

The forecast-period growth of the energy and utilities construction market will be supported by government plans to develop the country's energy infrastructure. According to the Investment Support and Promotion Agency of Turkey (ISPAT), the country's total installed electricity capacity is expected to increase from 74GW in 2015 to 120GW by 2023. To achieve this target, based on the capacity and type of the energy generation facility, the government is offering incentives license exemptions, purchase guarantees, feed-in-tariffs and connection priorities.

To cope with an expected rise in passenger, cargo and air traffic, and to maintain the high quality of transport infrastructure, the government is focused on the expansion and modernization of airport infrastructure. Accordingly, the Cengiz-Kolin-Limak-Mapa-Kalyon consortium is constructing the one of the world's largest airports-Istanbul New Airport.

The industry's growth will be driven by the government's plan to increase the share of renewable energy in terms of total installed power capacity, encouraging investment in renewable energy infrastructure. The government aims to increase the share of renewable sources to 30.0% of the country's total installed power capacity by 2023.

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Table Of Content

Scope

1 Executive Summary

2 Industry Outlook

2.1 Commercial Construction

2.2 Industrial Construction

2.3 Infrastructure Construction

2.4 Energy and utilities Construction

2.5 Institutional Construction

2.6 Residential Construction

3 Key Issues and Developments

4 Market Data Analysis

4.1 Construction Output and Value Add

4.1.1 Construction output by project type

4.1.2 Construction output by cost type

4.1.3 Construction output by activity type

4.1.4 Construction value add by project type

4.2 Commercial Construction

4.2.1 Commercial construction output by project type

4.2.2 Commercial construction output by cost type

4.2.3 Commercial construction output by activity type

4.2.4 Commercial construction value add by project type

4.3 Industrial Construction

4.3.1 Industrial construction output by project type

4.3.2 Industrial construction output by cost type

4.3.3 Industrial construction output by activity type

4.3.4 Industrial construction value add by project type

4.4 Infrastructure Construction

4.4.1 Infrastructure construction output by project type

4.4.2 Infrastructure construction output by cost type

4.4.3 Infrastructure construction output by activity type

4.4.4 Infrastructure construction value add by project type

4.5 Energy and utilities Construction

4.5.1 Energy and utilities construction output by project type

4.5.2 Energy and utilities construction output by cost type

4.5.3 Energy and utilities construction output by activity type

4.5.4 Energy and utilities construction value add by project type

4.6 Institutional Construction

4.6.1 Institutional construction output by project type

4.6.2 Institutional construction output by cost type

4.6.3 Institutional construction output by activity type

4.6.4 Institutional construction value add by project type

4.7 Residential Construction

4.7.1 Residential construction output by project type

4.7.2 Residential construction output by cost type

4.7.3 Residential construction output by activity type

4.7.4 Residential construction value add by project type

5 Company Profile: ENKA Insaat ve Sanayi AS

5.1 ENKA Insaat ve Sanayi AS-Company Overview

5.2 ENKA Insaat ve Sanayi AS-Business Description

5.3 ENKA Insaat ve Sanayi AS-Main Products and Services

5.4 ENKA Insaat ve Sanayi AS-History

5.5 ENKA Insaat ve Sanayi AS-Company Information

5.5.1 ENKA Insaat ve Sanayi AS-key competitors

5.5.2 ENKA Insaat ve Sanayi AS-key employees

6 Company Profile: GAMA Holding AS

6.1 GAMA Holding AS-Company Overview

6.2 GAMA Holding AS-Business Description

6.3 GAMA Holding AS-Main Services

6.4 GAMA Holding AS-History

6.5 GAMA Holding AS-Company Information

6.5.1 GAMA Holding AS-key competitors

6.5.2 GAMA Holding AS-key employees

7 Company Profile: Tekfen Holding Co., Inc.

7.1 Tekfen Holding Co., Inc.-Company Overview

7.2 Tekfen Holding Co., Inc.-Business Description

7.3 Tekfen Holding Co., Inc.-Main Products and Services

7.4 Tekfen Holding Co., Inc.-History

7.5 Tekfen Holding Co., Inc.-Company Information

7.5.1 Tekfen Holding Co., Inc.-key competitors

7.5.2 Tekfen Holding Co., Inc.-key employees

8 Company Profile: Kolin Insaat Turizm Sanayi ve Ticaret AS

8.1 Kolin Insaat Turizm Sanayi ve Ticaret AS-Company Overview

8.2 Kolin Insaat Turizm Sanayi ve Ticaret AS-Main Services

8.3 Kolin Insaat Turizm Sanayi ve Ticaret AS-History

8.4 Kolin Insaat Turizm Sanayi ve Ticaret AS-Company Information

8.4.1 Kolin Insaat Turizm Sanayi ve Ticaret AS-key competitors

8.4.2 Kolin Insaat Turizm Sanayi ve Ticaret AS-key employees

9 Company Profile: Yapi Merkezi Holding Inc.

9.1 Yapi Merkezi Holding Inc.-Company Overview

9.2 Yapi Merkezi Holding Inc.-Business Description

9.3 Yapi Merkezi Holding Inc.-Main Products and Services

9.4 Yapi Merkezi Holding Inc.-History

9.5 Yapi Merkezi Holding Inc.-Company Information

9.5.1 Yapi Merkezi Holding Inc.-key competitors

9.5.2 Yapi Merkezi Holding Inc.-key employees

10 Appendix

10.1 What is this Report About?

10.2 Definitions

10.3 Methodology

10.4 Contact Timetric

10.5 About Timetric

10.6 Timetric's Services

10.7 Disclaimer


List Of Figure

Figure 1: Turkish Construction Output (Real US$ 2010, Million), 2011-2020

Figure 2: Growth Matrix for Construction Output in Turkish (US$ Million), 2011-2020

Figure 3: Turkish Construction Output by Project Type (TRY Million), 2011-2020

Figure 4: Turkish Construction Output by Cost Type (TRY Million), 2011-2020

Figure 5: Turkish Construction Output by Activity Type (TRY Million), 2011-2020

Figure 6: Turkish Construction Value Add by Project Type (TRY Million), 2011-2020

Figure 7: Turkish Commercial Construction Output by Project Type (TRY Million), 2011-2020

Figure 8: Turkish Commercial Construction Output by Cost Type (TRY Million), 2011-2020

Figure 9: Turkish Commercial Construction Output by Activity Type (TRY Million), 2011-2020

Figure 10: Turkish Commercial Construction Value Add by Project Type (TRY Million), 2011-2020

Figure 11: Turkish Industrial Construction Output by Project Type (TRY Million), 2011-2020

Figure 12: Turkish Industrial Construction Output by Cost Type (TRY Million), 2011-2020

Figure 13: Turkish Industrial Construction Output by Activity Type (TRY Million), 2011-2020

Figure 14: Turkish Industrial Construction Value Add by Project Type (TRY Million), 2011-2020

Figure 15: Turkish Infrastructure Construction Output by Project Type (TRY Million), 2011-2020

Figure 16: Turkish Infrastructure Construction Output by Cost Type (TRY Million), 2011-2020

Figure 17: Turkish Infrastructure Construction Output by Activity Type (TRY Million), 2011-2020

Figure 18: Turkish Infrastructure Construction Value Add by Project Type (TRY Million), 2011-2020

Figure 19: Turkish Energy and utilities Construction Output by Project Type (TRY Million), 2011-2020

Figure 20: Turkish Energy and utilities Construction Output by Cost Type (TRY Million), 2011-2020

Figure 21: Turkish Energy and utilities Construction Output by Activity Type (TRY Million), 2011-2020

Figure 22: Turkish Energy and utilities Construction Value Add by Project Type (TRY Million), 2011-2020

Figure 23: Turkish Institutional Construction Output by Project Type (TRY Million), 2011-2020

Figure 24: Turkish Institutional Construction Output by Cost Type (TRY Million), 2011-2020

Figure 25: Turkish Institutional Construction Output by Activity Type (TRY Million), 2011-2020

Figure 26: Turkish Institutional Construction Value Add by Project Type (TRY Million), 2011-2020

Figure 27: Turkish Residential Construction Output by Project Type (TRY Million), 2011-2020

Figure 28: Turkish Residential Construction Output by Cost Type (TRY Million), 2011-2020

Figure 29: Turkish Residential Construction Output by Activity Type (TRY Million), 2011-2020

Figure 30: Turkish Residential Construction Value Add by Project Type (TRY Million), 2011-2020


List Of Table

Table 1: Insurance Industry Definitions

Table 2: Chinese Life Insurance Claims and Expenses; Gross Claims (US$ Billion), 2010-2014

Table 3: Chinese Life Insurance Claims and Expenses; Gross Claims (RMB Billion), 2010-2014

Table 4: Chinese Life Insurance Claims and Expenses; Gross Claims (US$ Billion), 2014-2019

Table 5: Chinese Life Insurance Claims and Expenses; Gross Claims (RMB Billion), 2014-2019

Table 6: Chinese Life Insurance Claims and Expenses; Paid Claims (US$ Billion), 2010-2014

Table 7: Chinese Life Insurance Claims and Expenses; Paid Claims (RMB Billion), 2010-2014

Table 8: Chinese Life Insurance Claims and Expenses; Paid Claims (US$ Billion), 2014-2019

Table 9: Chinese Life Insurance Claims and Expenses; Paid Claims (RMB Billion), 2014-2019

Table 10: Chinese Life Insurance Claims and Expenses; Incurred Loss (US$ Billion), 2010-2014

Table 11: Chinese Life Insurance Claims and Expenses; Incurred Loss (RMB Billion), 2010-2014

Table 12: Chinese Life Insurance Claims and Expenses; Incurred Loss (US$ Billion), 2014-2019

Table 13: Chinese Life Insurance Claims and Expenses; Incurred Loss (RMB Billion), 2014-2019

Table 14: Chinese Life Insurance Claims and Expenses; Commissions and Expenses (US$ Billion), 2010-2014

Table 15: Chinese Life Insurance Claims and Expenses; Commissions and Expenses (RMB Billion), 2010-2014

Table 16: Chinese Life Insurance Claims and Expenses; Commissions and Expenses (US$ Billion), 2014-2019

Table 17: Chinese Life Insurance Claims and Expenses; Commissions and Expenses (RMB Billion), 2014-2019

Table 18: Chinese Life Insurance Claims and Expenses; Change in Outstanding Reserves (US$ Billion), 2010-2014

Table 19: Chinese Life Insurance Claims and Expenses; Change in Outstanding Reserves (RMB Billion), 2010-2014

Table 20: Chinese Life Insurance Claims and Expenses; Change in Outstanding Reserves (US$ Billion), 2014-2019

Table 21: Chinese Life Insurance Claims and Expenses; Change in Outstanding Reserves (RMB Billion), 2014-2019

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Products and Companies

Products

Construction, Turkish Construction Industry, Commercial Construction, Institutional Construction, Industrial Construction, Infrastructure Construction, Residential Construction, Energy and Utilities Construction


Companies

ENKA Insaat ve Sanayi AS , GAMA Holding AS , Tekfen Holding Co., Inc., Kolin Insaat Turizm Sanayi ve Ticaret AS , Yapi Merkezi Holding Inc.