Bulgaria Construction Market Size, Trend Analysis by Sector (Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential) and Forecast, 2023-2027

Bulgaria Construction Market Size, Trend Analysis by Sector (Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential) and Forecast, 2023-2027

Summary

The Bulgarian construction industry is expected to contract by 3.9% in real terms in 2023, owing to weak economic condition, high inflation, increased construction material prices, and supply chain disruptions caused by the Russia-Ukraine conflict. The industry plummeted in 2022. According to preliminary data released by the National Statistical Institute (NSI), the industry’s value-add at average 2015 prices fell by 17.7% year on year (YoY) in Q3 2022, following the Y-o-Y decline of 12.1% in Q2 and 4.2% in Q1 2022. In addition, the ongoing conflict between Russia and Ukraine is expected to slow industrial and economic output in the coming quarters of 2023 and weaken consumer and investor confidence.

Over the remainder of the forecast period, the industry is expected to grow at an annual average rate of 4.7% between 2024-27, supported by investments in the transport and energy sectors. The Bulgarian Government’s initiative of implementing the Transmission Line Upgrade Program which includes the construction of power grids, and substations, the installation of transmission towers and safety and security systems, and the laying of transmission lines involves a total investment of BGN1.9 billion ($948 million). Forecast period growth will also be supported by a joint investment in railway infrastructure, with the Bulgarian transport ministry and the European Union (EU), between 2021 and 2027, under the operational program “Transport Connectivity 2021-2027”. Under this program, in October 2022, the EU allocated BGN3.1 billion ($1.6 billion) for the improvement of the quality of road, rail, and maritime infrastructure.

The report provides detailed market analysis, information, and insights into the Bulgarian construction industry, including -

• The Bulgarian 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 the Bulgarian 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 Bulgaria. It provides -

• Historical (2018-2022) and forecast (2023-2027) valuations of the construction industry in Bulgaria, 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.