Dublin, July 29, 2024 (GLOBE NEWSWIRE) -- The "Ethiopia 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 Ethiopia is expected to expand by 8.7% in real terms in 2024, supported by investments in the country's transport, industrial, and electricity projects. In the financial year (FY) 2023-24 (July 2023 to July 2024) Budget, the government allocated ETB203.9 billion ($3.5 billion) as capital expenditure.
Of the total, ETB68.4 billion ($1.2 billion) has been allocated for roads, ETB55.8 billion ($946.8 million) for education, ETB22.6 billion ($383.4 million) for health, and ETB19.5 billion ($330.9 million) for water and energy projects. In March 2024, domestic airline company Ethiopian Airlines Group (EAG) announced plans to construct five new domestic airports at Mizan Tepi Aman, Yabelo, Gore Mettu, Negele Borena, and Debre Markos.
Of the total, four airports are expected to be completed in 2024. In another development, in March 2024, the EAG reported that it is planning to build an additional airport near Oromia with an estimated investment of ETB459.7 billion ($7.8 billion).
The analyst expects the Ethiopian construction industry to register an annual average growth of 8.9% from 2025 to 2028, supported by investments in the infrastructure, energy, and mining sectors. In November 2023, the government formulated a national mining policy, under which a transparent regulatory administration will be created to attract foreign and domestic investment and promote mining projects.
In May 2024, Cyprus-based mineral company Kefi Minerals started construction of a gold mine in Tulu Kapi. The project will cost ETB18.9 billion ($320 million) and is expected to be completed by 2026. Growth over the forecasted period will be also supported by the government's target of increasing power generating capacity from 4.2GW in 2020 to 17.2GW in 2030.
In April 2024, the World Bank announced a loan of ETB101.4 billion ($1.7 billion) for improving the electricity infrastructure, investing in energy projects, developing water infrastructure, renovating and constructing new projects in rural areas, and boosting access to the food markets. The Ethiopian construction industry's growth over the long term will be supported by the government's plan (announced in July 2022) to increase the country's road infrastructure coverage to 245,000km within the next 10 years.
Scope
- Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in Ethiopia, 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
- Construction Projects Momentum Index
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/8nr258
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