Business Monitor International


Turkey Infrastructure Report

Published 06 February 2014

  • 81 pages
  • Instant access to your report online and PDF format through your account library
  • Includes 3 free updated quarterly reports
 
$1,295.00
Turkey Infrastructure Report

BMI View : We forecast 5.3% real growth in the construction sector over 2014 and growth should remain buoyant over the short-term thanks to projects already under construction fuelling industry value. However, we highlight the downside risks this quarter with allegations of corruption within the construction industry adding to the financing headwinds the industry is facing in light of a major depreciation in the lira. As such investor confidence in the Turkish construction sector will deteriorate posing a threat to our longer-term forecasts, as this 'perfect storm' of social, political and macroeconomic headwinds is certainly going to keep international investors in the sidelines.

There continue to be downside risks to Turkey's healthy construction sector outlook stemming from the major depreciation in the lira making the cost of foreign credit prohibitively high, which exacerbates the underdeveloped domestic long-term financing market. Despite these factors and elevated political risk over the latter stages of the year, 2013 saw robust growth in the industry. That said, with a corruption probe having been launched in the early stages of 2014 we expect that growth may suffer over the medium-term as investors hold off on committing to projects until after upcoming elections. However, we highlight that activity in the equity markets does not indicate that investors are overly concerned and as such have not adjusted our forecasts. Although we emphasise the downside risks of the corruption probe, on the back of a strong project pipeline, we maintain a healthy growth outlook. Average real construction industry growth for the period 2014-2022 is forecast at 5%.

We see sustained healthy growth in Turkey's construction sector over our 10-year forecast period; however, due to the country's history of high volatility and abrupt trends, in addition to the potentially far-reaching repercussions for the Turkish economy if there were to be a contraction in the construction...

Table of Contents

BMI Industry View
7
SWOT
9
Infrastructure SWOT
9
Industry Forecast
11
Construction And Infrastructure Forecast Scenario
11
Table: Turkey Construction And Infrastructure Industry Data
11
Table: Turkey Construction And Infrastructure Industry Data
12
Transport Infrastructure - Outlook And Overview
22
Table: Turkey Transport Infrastructure Industry Data, 2012-2017
22
Table: Turkey Transport Infrastructure Industry Data, 2018-2023
23
Major Projects Table - Transport
31
Table: Major Projects - Transport
31
Energy And Utilities Infrastructure - Outlook and Overview
35
Table: Turkey Energy and Utilities Infrastructure Industry Data, 2012-2017
35
Table: Turkey Energy and Utilities Infrastructure Industry Data, 2018-2023
36
Major Projects Table - Energy & Utilities
41
Table: Major Projects - Energy & Utilities
41
Residential/Non-Residential Building - Outlook And Overview
45
Table: Residential / Non-residential Industry Data 2012-2017
45
Table: Residential/Non-residential Industry Data 2018-2023
45
Major Projects Table - Residential/Non-Residential Construction And Social Infrastructure
49
Table: Key Projects Residential/Non-Residential
49
Industry Risk Reward Ratings
52
Turkey - Infrastructure Risk/Reward Ratings
52
Turkey's Risk/Reward Ratings
52
Rewards
52
Risks
53
CEE - Infrastructure Risk/Reward Ratings
53
Table: Central And Eastern Europe Risk Reward Ratings
60
Competitive Landscape
61
Table: Turkey - Major Domestic Construction Players
62
Company Profile
64
Enka Insaat
64
Table: Enka H113 Results
66
Global Infrastructure Overview
67
North America And Europe In 2014: Turning A Corner
67
Methodology
74
Industry Forecast Methodology
74
Sector-Specific Methodology
75
Risk/Reward Rating Methodology
79
Sector-Specific Methodology
80
Table: Infrastructure Risk/Reward Rating Indicators
80
Table: Weighting Of Indicators
81

The Turkey Infrastructure Report features Business Monitor International (BMI)'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 multinational and national company developments.

These are broken down into Construction (social, commercial and residential), Transport (roads, railways, ports, airports etc), and Energy & Utilities (powerplants, renewable projects, pipelines and so on).

Industry Trends

Analysis of latest projects across the infrastructure sector (covering the transport, utilities and commercial construction sub-sectors) - including:

Market Overview:Analysis of the key elements driving developments, including evaluations of current capacity and future requirements.

Building Materials Overview

The building materials overview provides industry trend analysis on the global and regional demands for building materials and the impact of this on the emerging and developed markets.

Business Environment Ratings

BMI's Infrastructure Business Environment Ratings provide a country-comparative Risk-Reward Ratings index aimed at investors (construction companies, suppliers and partners) in the regional infrastructure market.

The ratings methodology makes sophisticated use of over 40 industry, economic and demographic data point.

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 & Economic Forecasts

Historic data series (2008-2012) and forecasts to end-2018 for all key industry and economic indicators, supported by explicit assumptions, plus analysis of key risks to the main forecast. Indicators include:

Construction: Industry value (US$bn); contribution to GDP (%); employment (`000); real growth (%).

Infrastructure: Value (US$bn); contribution to construction industry (%); real growth (%) of transport infrastructure (broken down by railways, airports, roads and bridges, ports and harbours) and energy and utilities (broken down by power plants and transmission grids, oil and gas pipelines, and water infrastructure).

Economy: Economic growth (%); nominal GDP (US$bn); unemployment (%); interest rates (%); exchange rate (against US$).

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 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.

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Testimonials

'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc