Dublin, Dec. 04, 2024 (GLOBE NEWSWIRE) -- The "South Africa Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2028 (Q3 2024)" report has been added to ResearchAndMarkets.com's offering.
Construction output in South Africa is expected to contract by 4.2% in real terms in 2024, owing to headwinds such as declined economic activity, high inflation, decreased construction of residential buildings, and weak civil construction activity.
According to the Statistics South Africa (Stats SA), the country's construction material price index (CMPI) grew by 7.5% in the first seven months of 2024, following an annual increase of 6.6% in 2023. Furthermore, rises in civil engineering construction material prices will also have an impact on the construction industry.
The construction material price index in civil engineering sector rose by 7% YoY in January-July 2024, following annual growth of 4.4% in 2023. The analyst expects South Africa's construction industry to rebound and record average annual growth of 2.9% from 2025 to 2028, supported by private investments in renewable energy projects, coupled with government investment in the country's transportation infrastructure.
Growth will also be supported by the national target to increase the share of renewable energy to 50% of the total energy mix, and reach net zero carbon emissions by 2050. Seriti Green - a South African renewable energy company - commenced the construction of the first phase of its ZAR25 billion ($1.3 billion) wind farm project in Mpumalanga in July 2024. The first phase of the project includes the construction of the 155MW Ummbila Emoyeni facility by the first half of 2026, with an investment of ZAR5 billion ($269.2 million). Construction work on the total 900MW capacity of the wind farm is expected to be completed in 2027.
Scope
- Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in South Africa, featuring details of key growth drivers.
- Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
- Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
- Listings of major projects, in addition to details of leading contractors and consultants
Reasons to Buy
- Identify and evaluate market opportunities using our standardized valuation and forecasting methodologies
- Understand the latest industry and market trends
- Formulate and validate business strategies using the analyst's critical and actionable insight
- Assess business risks, including cost, regulatory and competitive pressures
- Evaluate competitive risk and success factors
Key Topics Covered:
1 Executive Summary
2 Construction Industry: At-a-Glance
3 Context
3.1 Economic Performance
3.2 Political Environment and Policy
3.3 Demographics
3.4 Risk Profile
4 Construction Outlook
4.1 All Construction
- Outlook
- Latest news and developments
- Construction Projects Momentum Index
4.2 Commercial Construction
- Outlook
- Project analytics
- Latest news and developments
4.3 Industrial Construction
- Outlook
- Project analytics
- Latest news and developments
4.4 Infrastructure Construction
- Outlook
- Project analytics
- Latest news and developments
4.5 Energy and Utilities Construction
- Outlook
- Project analytics
- Latest news and developments
4.6 Institutional Construction
- Outlook
- Project analytics
- Latest news and developments
4.7 Residential Construction
- Outlook
- Project analytics
- Latest news and developments
5 Key Industry Participants
5.1 Contractors
5.2 Consultants
6 Construction Market Data
7 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/ltsudw
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