Dublin, Oct. 25, 2024 (GLOBE NEWSWIRE) -- The "Azerbaijan 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.
The construction industry in Azerbaijan is projected to grow by 2.6% in real terms in 2024 and record an average annual growth rate of 4% from 2025 to 2028, supported by investment in transport, renewable energy, and housing infrastructure projects.
This report provides detailed market analysis, information, and insights into Azerbaijan's construction industry, including:
- Azerbaijan's construction industry's growth prospects by market, project type and construction activity
- Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in Azerbaijan's construction industry
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.
Azerbaijan's State Statistics Committee reported in early July 2024 that capital investment in the country rose by 9.4% year-on-year (YoY) in the first half (H1) of 2024, to AZN8 billion ($4.7 billion). By sector, investment in the oil and gas sector grew by 4.5% YoY, while that in the non-oil sector grew 12.6% YoY. Domestic investment accounted for 80.8% of the total capital investment recorded in H1 2024, while foreign investment accounted for the remaining 19.2%.
The industry's growth over the forecast period will be supported by the government's plan to increase the share of renewable energy in the total installed electricity-generation capacity to at least 30% by 2030. According to the Ministry of Energy, Azerbaijan has high potential renewable energy sources. The economic potential of renewable energy sources, as of March 2024, was estimated at 27GW; this includes 23GW of solar energy, and 3GW of wind energy.
In a boost to the renewable energy sector, Azerbaijan and the UAE unveiled plans for two solar and one wind project in Azerbaijan, in June 2024; the plants will have a combined capacity of 1GW. The projects include a 240 MW wind farm in Absheron-Garadagh, a 315 MW solar plant in Neftchala, and a 315 MW solar plant in Neftchala. The plants are expected to prevent over 943,000 tonnes of carbon dioxide emissions.
This report provides a comprehensive analysis of the construction industry in Azerbaijan:
- Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in Azerbaijan, 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
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- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
For more information about this report visit https://www.researchandmarkets.com/r/459i58
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