Azerbaijan Construction Market Size, Trends, and Forecasts by Sector – Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2024-2028

Azerbaijan Construction Market Size, Trends, and Forecasts by Sector – Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2024-2028

Summary

GlobalData expects the construction industry in Azerbaijan to contract by 2.8% in real terms in 2024, following an estimated annual growth of 10.9% in 2023, with activity constrained by a decline in exports and mining activity. According to the State Statistical Committee of the Republic of Azerbaijan, the country’s exports fell by 15.6% year on year (YoY) in the first ten months of 2023, down from an annual growth of 71.8% in 2022. The value add of mining and quarrying activities declined by 2.5% YoY in the first three quarters of 2023, following an annual decline of 2.6% in 2022, according to the Statistical Committee of the Republic of Azerbaijan.

Over the remainder of the forecast period, from 2025 to 2028, the construction industry is expected to record an annual average growth of 4.1%, supported by public and private investments in transport infrastructure, renewable energy projects and housing. The Azerbaijani Ministry of Energy (MoE) announced in December 2023 that it plans to attract international funding to construct 8GW of green energy facilities in the country by 2030. The growth of the construction industry will also be supported by the government’s aim to increase the share of renewable energy in the electricity mix to 30% and generate 5GW of renewable energy by 2030, of which 3GW of wind and 1GW of solar energy

GlobalData’s Construction in Azerbaijan – Key Trends and Opportunities to 2028 report provides detailed market analysis, information and insights into Azerbaijan’s construction industry, including -

• Azerbaijan’s construction industry's growth prospects by market, project type and construction activity
• Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in Azerbaijan’s construction industry
• Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.

Scope

This report provides a comprehensive analysis of the construction industry in Azerbaijan. It provides -

• Historical (2019–2023) and forecast (2024–2028) valuations of the construction industry in Azerbaijan, 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 GlobalData'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 GlobalData's critical and actionable insight.
• Assess business risks, including cost, regulatory and competitive pressures.
• Evaluate competitive risk and success factors.