Bulgaria Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast, 2023-2027

Bulgaria Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast, 2023-2027

Summary

GlobalData predicts that Bulgaria’s construction industry to remain weak in 2023, declining by 3.8% in real terms, following an annual contraction of 4.5% in 2022, owing to the impact of elevated costs for materials, energy and labor, supply chain disruptions, high inflation and interest rates, which are all expected to weigh on both economic and construction industry activity in the coming quarters. According to the National Statistical Institute (NSI), the country’s construction production index declined by 0.7% year on year (YoY) and that for civil engineering declined by 3.3% YoY in the first six months of 2023. Moreover, the total area of building permits issued for construction of new buildings declined by 12.6% YoY in the first six months of 2023, and total area of new building construction started declined by 5.9% YoY during the same period.

Over the remainder of the forecast period, between 2024 and 2027, Bulgaria’s construction industry is expected to record an annual average growth rate of 3.9%, supported by investment in transport, and renewable energy projects. According to the Electricity System Operator (ESO) of Bulgaria, the country plans to add 5.9GW power capacity by 2031, of which 4.9GW through renewable sources. The government investment in transportation and energy projects, as part of Bulgaria's National Recovery and Resilience Plan (NRRP), with funding from the EU’s grants will support the construction industry’s output over the forecast period.

This report provides detailed market analysis, information and insights into Bulgaria’s construction industry, including -

• Bulgaria’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 the Bulgaria’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 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.