Dublin, Sept. 19, 2024 (GLOBE NEWSWIRE) -- The "Morocco Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2028 (H2 2024)" report has been added to ResearchAndMarkets.com's offering.
Morocco's construction industry is expected to expand by 4.7% in real terms in 2024, supported by increased Foreign Direct Investment (FDI), investment in energy, utilities, commercial, and infrastructure sectors amid the government's plans to host the 2025 African Cup of Nations and the 2030 FIFA World Cup.
In line with this, in June 2024, the government announced a budget of MAD43 billion ($4.3 billion) for modernizing the infrastructure and constructing stadiums by 2030. In July 2024, the government reported that the FDI in the country grew by 20% year on year (YoY) in the first five months of 2024. Furthermore, in June 2024, the government announced MAD10.1 billion ($1 billion) to enhance the public transport network in the country.
However, rising construction material costs, delays in construction projects amid technology contingency, and falling real estate transactions are expected to pose downside risk to the construction industry in the short term. According to the Central Bank- Bank Al-Maghrib (BAM), the real estate transaction fell by 3.1% YoY in the first quarter of 2024.
The Moroccan construction industry is expected to register an annual average growth of 3.7% from 2025 to 2028, supported by investments in rail transportation, water infrastructure, and energy sectors, coupled with the government's target to have electric cars account for 60% of total vehicle exports by 2030. In June 2024, Chinese battery producer Gotion High-tech announced its plan to develop an electric vehicle (EV) battery gigafactory in Kenitra. With a cost of MAD13.2 billion ($1.3 billion), the project includes the construction of a battery factory by 2026.
Additionally, in May 2024, the government announced that Chinese automotive battery manufacturers, Hailiang and Shinzoom, will develop a copper and anode plant in Morocco with a combined investment of MAD9.2 billion ($910 million). Growth over the forecasted period will also be supported by government plans to invest MAD70.8 billion ($7 billion) to add 9GW of installed energy capacity by 2027.
In line with this, in March 2024, government-owned energy and water operator Office National de L'Electricite et de L'Eau Potable (Onee) launched a tender for a 2GW transmission project. The project includes laying 400kV or 800kV transmission lines in the central and northern regions of Morocco by 2028. In terms of water infrastructure, the country plans to invest an estimated MAD415.9 billion ($40 billion) to build water infrastructure through both public-private partnership schemes, and construct nine new desalination plants by 2030.
Scope
- Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in Morocco, 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 the analyst'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 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
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/34q83f
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