Dublin, Jan. 24, 2024 (GLOBE NEWSWIRE) -- The "Zambia Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The construction industry in Zambia is expected to shrink by 2.2% in real terms in this year, following an annual decline of 8.9% in 2022, owing to weak investor and consumer confidence amid rising inflationary pressure, coupled with government's poor financial position and depreciation of the local currency.
According to Ministry of Finance, the national currency, Kwacha depreciated by 10.9% Year-on-Year (YoY) against US dollars in the first eight months of 2023. In addition, the Ministry of Finance reported that the total value of loans issued for the construction sector to the private sector fell by 6.9% YoY in first eight months of 2023, preceded by an annual decline of 12% in 2022.
Over the remainder of the forecast period, the construction industry is expected to expand at an annual average of 3.6% during 2024-27, supported by investments in transport, renewable energy, mining, manufacturing, residential and commercial construction projects. The forecast period growth will also be supported by growth in tourism industry.
According to Ministry of Finance announcement in September 2023, the number of travelers in the country in first eight months of 2023 grew by 106% compared to pre-COVID level in 2019. Moreover, international tourist arrivals to Zambia rose by 22% YoY in the first six months of 2023, preceded by annual growth of 91.4% in 2022.
The Finance Ministry announced in the budget that, the Zambia Development Agency estimated the country would receive ZMK87.7 billion ($5 billion) as investment in 2024. The following investments are expected in the field of manufacturing electric vehicle batteries, electric motorcycle assembly plant, renewable energy in wind and solar and in developing pharmaceutical industry.
Scope
This report provides a comprehensive analysis of the construction industry in Zambia. It provides -
- Historical (2018-2022) and forecast (2023-2027) valuations of the construction industry in Zambia, 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 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 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
A selection of companies mentioned in this report includes
- Caterpillar
- Sandvik
- Epiroc
- Volvo
- Komatsu
For more information about this report visit https://www.researchandmarkets.com/r/jnd6sf
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