Dublin, May 23, 2024 (GLOBE NEWSWIRE) -- The "Tanzania Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2024-2028" report has been added to ResearchAndMarkets.com's offering.
The construction industry in Tanzania is expected to grow by 5.8% in real terms in 2024, supported by investments in the industrial, infrastructure and energy sectors.
According to the Tanzania Investment Centre (TIC), 161 projects worth TZS3.6 trillion ($1.4 billion) were registered in the fourth quarter of 2023, marking a year-on-year (YoY) growth of 54% compared to a registration of 235 projects in 2022. In Q4 2024, manufacturing, transportation and tourism were the top three sectors in terms of registered number of projects. Of the total projects registered in Q4 2024, the domestic investments in the country accounted for 49.7% and foreign direct investments (FDIs) accounted for 50.3%.
The Tanzanian construction industry is expected to register an average annual growth of 7.9% between 2025 and 2028, supported by investments in transport infrastructure, coupled with the TZS35.1 trillion ($13.5 billion) Tanzania Water Investment Program (TanWIP) that aims to strengthen the clean drinking water infrastructure by developing water supply schemes and a national grid by 2030.
Dar Es Salaam, which is the country's primary commercial hub, is undergoing a thorough revamp of its road infrastructure, encompassing the construction of flyovers, a bus rapid transit system, and upgraded roads. In February 2024, the government signed a TZS1 trillion ($385.5 billion) agreement to support development of second phase of the Dar es Salaam Metropolitan Development Project (DMDP), aimed at transforming the city's road network development in Dar Es Salaam
Scope
- Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in Tanzania, 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 Latest news and developments
4 Project analytics
5 Construction Market Data
6 Risk Profile
7 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/1sor8k
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