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Technavio’s market research analyst has estimated that the fabricated metal products market in Turkey will grow steadily at a CAGR of over 4% by 2020. The rising demand for fabricated metal products from the automotive sector is a noteworthy factor that will spur the prospects for market growth until the end of the forecast period. In this region, the automotive industry has taken advantage of various factors like the availability of a cheap and highly skilled workforce, dynamic local market, and the country's favorable location, to enhance the production of vehicles from 374,000 units in 2002 to over 1.17 million units in 2014. This increase in the production of automobiles has, in turn, impelled the growth prospects for manufacturers of steel pipes, steel profiles, and sheet metal products.
According to this market research, a significant factor propelling the growth opportunities for this market is the growth of forged, stamped, pressed, and roll-formed metals; and the powder metallurgy segment. Recently, it has been observed that the government in Turkey has been planning to construct new power and transportation infrastructures. Since these construction projects require the procurement of high-quality structural metal products, the demand for forged, stamped, pressed, and roll-formed metals will increase significantly. During the forecast period, the augmented demand for such products is anticipated to foster the growth prospects for the overall fabricated metal products market over the next four years.
During 2015, the structural metal products segment dominated this market and accounted for a market share of approximately 37%. The recent increase in the share of renewable energy in the country’s total installed capacity will lead to the commencement of new construction projects. This increase in the number of construction projects will give rise to a rise in the demand for structural metal products, which are extensively used during the construction of these structures.
In the fabricated metal products market in Turkey, the manufacturers are looking to adopt newer technologies in an effort to reduce energy consumption and increase efficiency. In addition, the manufacturers are also promoting innovation in the industry by expanding their R&D horizon and are subsequently investing in the development of new products. The market for fabricated metal products in this region is characterized by high levels of customer satisfaction.
Key manufacturers in this market are -
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This is preliminary content. The table of contents is subject to change.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by product
PART 07: Geographical segmentation
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
PART 14: Key vendor analysis
PART 15: Appendix
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