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Positive medium to long-term outlook for South Africa’s construction sector

The residential construction industry in value terms increased at a CAGR of 2.3% during 2015-2019. (Image source: Free-Photos/Pixabay)

The construction industry in South Africa is expected to record a CAGR of 13.2% to reach ZAR US$17.75bn by 2024, according to ResearchAndMarkets

Over the next eight quarters, construction market growth is expected to remain impacted due to the economic downturn caused by the COVID-19 pandemic, across the residential, commercial, industrial and institutional sectors in South Africa.

Despite near term challenges, the medium to long-term outlook remains positive. Over the short term, investment in the construction industry will be driven by government spending in the infrastructure sector.

The residential construction industry in value terms increased at a CAGR of 2.3% during 2015-2019. The commercial building construction market in value terms is expected to record a CAGR of 12.3% over the forecast period. Infrastructure construction was estimated to be US$8.67bn in 2019, posting a CAGR of -0.9% during the review period.

This report provides a data and trend analyses on the construction industry in South Africa, with more than 100 KPIs. This is a data-centric report and it provides trend analyses with over 140+ charts and 110+ tables. It details market size & forecast, emerging trends, market opportunities, and investment risks in more than 40 segments in residential, commercial, industrial, institutional, and infrastructure construction sectors.

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