Dublin, Oct. 29, 2024 (GLOBE NEWSWIRE) -- The "Tanzania 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 Tanzania is expected to grow by 5.8% in real terms in 2024, supported by investments in the residential, transport and energy sectors.
According to Tanzania Investment Centre (TIC), 409 investment projects totaling TZS8 trillion ($3.1 billion) were registered from January to June 2024; of the total, 24 are ongoing projects that are slated for expansion and 385 are new projects. A total of TZS3.7 trillion ($1.4 billion) in investment was secured by 196 projects in the manufacturing sector in the first half of 2024, according to data from the TIC.
Significant inflows of capital were also noted in the transportation sector, where 68 projects attracted TZS1.5 trillion ($570.5 million). Other notable sectors that saw inflows of capital included commercial building projects with 45 projects totaling TZS1.3 trillion ($501.9 million), tourism with 40 projects totaling TZS584.8 billion ($225.4 million), energy with seven projects totaling TZS207.5 billion ($80 million), and human resources, health, and education with five projects totaling TZS321.1 billion ($123.8 million).
In June 2024, the Tanzanian government approved its Financial Year (FY) FY2024-25 (July 2024 to June 2025) Budget, which includes an expenditure of TZS49.4 trillion ($18.9 billion); this is 11.2% more than the TZS44.4 trillion ($17.1 billion) budgeted in 2023. The FY2024-25 Budget also focuses on implementing the third Five-Year National Development Plan (FYDPIII, 2021-26), under the theme 'Realising Competitiveness and Industrialization for Human Development'.
Under the FYDPIII, the government intends to enhance key productive infrastructures, comprising railways, roads, water and air transport, coupled with reliable access to energy. Of the total budget, the government allocated TZS34.5 trillion ($13.3 billion) for recurrent expenditure, and TZS14.9 trillion ($5.7 billion) for development projects, focusing mainly on energy and transportation infrastructure.
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/rx7b5s
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
