Turkey Infrastructure Report

Providing expert analysis, independent forecasts and competitive intelligence on the Infrastructure industry.

Report includes: BMI Industry View, Industry SWOT Analysis, BMI Industry Forecast, BMI's Infrastructure Risk Reward Index, Market Overview and Company Profiles.

Why you should buy this report

  • Gain independent insight into the outlook for the infrastructure industry through BMI's 10 year forecasts
  • Understand the market through analysis of projects , investment plans and key players
  • Understand the threats to your operations and investments and protect your company against future risks
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Turkey Infrastructure Report
Product Price
$1,295.00

BMI View: The attempted coup in Turkey will not dampen the government ' s focus on the infrastructure and construction sectors and we expect the government to remain in power. While this is good news for Turkey ' s significant project pipeline and infrastructure policies, we note that investor sentiment towards the government, which is likely to assume a greater interventionist and authoritarian approach to the economy, may turn increasingly negative. This risks the continued success of the various PPPs currently being considered.

Latest Updates And Structural Trends

  • After a strong H116, we expect the construction sector to slow significantly over the second half of the year. Nonetheless given the strength in the first half we have upped our expectations for growth in 2016 to 3.8%, while our 2017 forecast remains unchanged at 3.9% y-o-y.

  • Turkey is likely to move in a more authoritarian direction over the next few years, as President Recep Tayyip Erdogan tightens his grip on power following the failed military coup in July 2016. Meanwhile, Turkey will face rising security risks from Islamic State (IS) and Kurdish separatist groups. Brightspots in the infrastructure sector remain the transport sector, Turkish healthcare PPP projects and the renewables segment - specifically wind.

Infrastructure - Construction Industry Forecasts (Turkey 2015-2025)
2015 2016f 2017f 2018f 2019f 2020f 2021f 2022f 2023f 2024f 2025f
Turkish Statistical InstituteTurkish Statistical Institute
Construction industry value, TRYbn 85.88 96.02 107.25 119.64 132.59 145.99 160.29 176.32 194.54 214.19 235.33
Construction Industry Value, Real Growth, % y-o-y 1.70 3.80 3.90 4.25 4.08 3.85 3.80 4.00 4.58 4.60 4.37
Construction Industry Value, % of GDP 4.4 4.4 4.5 4.5 4.5 4.6 4.6 4.7 4.8 4.9 5.0

Risk/Reward Index

  • Turkey ranks in ninth place within the Central and Eastern Europe grouping of the RRI, with an overall score of 55.6.

  • The size and long-term growth potential of the Turkish infrastructure market is significant, but Turkey's banking sector remains reliant on expensive external financing. Turkey's Rewards score is 53.4.

  • Transparency in the tendering process remains a concern but more use of the public-private partnership model will begin to address this. Policy continuity under the AKP will help assure investments. Turkey's Risks score is 60.6.

Infrastructure Risk Reward Index (Turkey 2016-2016)
Risk/Reward Index Rewards Industry Rewards Country Rewards Risks Industry Risks Country Risks
Source: BMI
Turkey 55.6 53.4 47.5 64.4 60.6 70.0 54.3
BMI Industry View
7
Table: Infrastructure - Construction Industry Forecasts (Turkey 2015-2021)
7
Table: Infrastructure Risk Reward Index (Turkey)
8
SWOT
9
Infrastructure SWOT
9
Industry Forecast
11
Turkey - Risks Align: Slower Construction Growth in 2016
11
Table: Construction And Infrastructure Industry Data (Turkey 2015-2025)
11
Transport Infrastructure - Outlook And Overview
17
Table: Transport Infrastructure Industry Data (Turkey 2015-2025)
17
Table: Major Transport Projects
25
Energy And Utilities Infrastructure - Outlook and Overview
26
Table: Energy And Utilities Infrastructure Data (Turkey 2015-2025)
26
Major Projects Table - Energy & Utilities
34
Table: Major Projects - Energy & Utilities
34
Residential/Non-Residential Building - Outlook And Overview
36
Table: Residential and Non-Residential Building Industry Data (Turkey 2015-2025)
36
Major Projects Table - Residential/Non-Residential Construction And Social Infrastructure
40
Table: Key Projects Residential/Non-Residential
40
Industry Risk Reward Ratings
42
Turkey - Infrastructure Risk/Reward Index
42
Risk/Reward Index
42
Rewards
42
Risks
43
Europe - CEE Infrastructure RRI: Heightened Risks Belie Growing Rewards
44
Table: Infrastructure Risk/Reward Index
49
Competitive Landscape
50
Table: Turkey - Major Domestic Construction Players
54
Company Profile
56
Enka Insaat
56
Table: Enka Results, USDmn
58
Methodology
59
Industry Forecast Methodology
59
Sector-Specific Methodology
60
Risk/Reward Index Methodology
64
Sector-Specific Methodology
65
Table: Infrastructure Risk/Reward Index Indicators
65
Table: Weighting Of Indicators
66

The Turkey Infrastructure Report features BMI Research's market assessment and forecasts covering public procurement and spending on all major infrastructure and construction projects, including transportation and logistics by land, sea and air; power plants and utilities, and commercial construction and property development. The report analyses the impact of regulatory changes and the macroeconomic outlook and features competitive intelligence on contractors and suppliers.

BMI's Turkey Infrastructure Report provides industry professionals and strategists, sector analysts, investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the Turkish infrastructure and construction industry.

Key Benefits

  • Benchmark BMI's independent infrastructure industry forecasts for Turkey to test other views - a key input for successful budgetary and planning in the Turkish infrastructure market.
  • Target business opportunities and risks in the Turkish infrastructure sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Turkey.
  • Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity).

Coverage

BMI Industry View

Summary of BMI’s key industry forecasts, views and trend analysis covering infrastructure and construction, regulatory changes, major investments and projects and significant national and multinational company developments. These are broken down into construction (social, commercial and residential), transport (roads, railways, ports, airports, etc), and energy & utilities (powerplants, pipelines and so on).

Industry SWOT Analysis

Analysis of the major strengths, weaknesses, opportunities and threats within the infrastructure and construction sectors and within the broader political, economic and business environment.

BMI Industry Forecasts

Historic data series (up to 2012) and forecasts to end-2024 for all key industry indicators, supported by explicit assumptions, plus analysis of key developments in the market and risks to the main forecasts. Indicators include:

Construction: Industry value (USDbn); contribution to GDP (%); total capital investment (USDbn); real growth (%).

Construction industry real growth forecasts (%) and industry value (USDbn) forecasts for industry sectors are split into Residential and Non-residential and Infrastructure sectors. Where the data is available for particular countries the infrastructure is further broken down into indicators for the transport subsectors of roads, railways, airports and ports and the energy and utilities sub-sectors of power plants and transmission grids, oil & gas pipelines and water infrastructure. This dataset is unique to the market.

The reports also include analysis of latest projects across the infrastructure sectors (transport, utilities, commercial construction).

BMI’s Infrastructure Risk Reward Index

BMI’s Risk Reward Index provides investors (construction companies, suppliers and partners) looking for opportunities in the region with a clear country-comparative assessment of a market’s risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and  demographic data points. These provide indices of highest to lowest appeal to investors, with each position explained.

Market Overview

An assessment of the competitive landscape and key challenges to entering the market. Details of the largest companies active in the sector across the sub-segments of the industry, including the key financial figures from some of the largest players in the sector.

Company Profiles*

Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI’s industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape to generate company SWOT analyses. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.

Sources

The Infrastructure reports draw on an extensive network of primary sources, such as multilateral organisations, government departments, industry associations, chambers and company reports.

*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.