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

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

Summary

GlobalData expects Morocco’s construction industry to grow by 2.5% in real terms in 2023, following an estimated marginal growth of 0.5% in 2022. The pace of growth will then pick up to an annual average of 3.7% from 2024 to 2027. The main drivers of growth will be investment in the infrastructure, industrial and energy sector, supported by inward foreign direct investment (FDI). According to Office des Changes, Morocco's Exchange Office, net FDI flow in the country increased to MAD20.1 billion ($1.93 billion) in January-September 2022, compared to MAD19.4 billion ($1.86 billion) net FDI flow in 2021 overall.

In January 2023, the government approved 26 investment projects worth MAD28.5 billion ($2.8 billion), with the mainly focus on higher education, industrial and tourism sector. Forecast-period growth will also be supported by investment to boost the socio-economic situation in the southern provinces. In November 2022, the government announced an infrastructure project to expand the national road N1, connecting Dakhla with El Argoub in southern Morocco. The project involves the development of 40km infrastructure road expansion in two phases with the combined investment of MAD106.6 million ($10.2 million). In November 2022, the government announced that it is providing fund worth more than MAD77 billion ($7.4 billion) for development projects in the southern provinces.

The construction industry’s output over the forecast period will also be supported by the government’s focus on the development of renewable energy infrastructure. The government aims to generate 52% of electricity from renewable sources by 2030, 70% by 2040 and 80% by 2050. According to the Ministry of Energy Transition and Sustainable Development, as of December 2022, a total of 61 projects are ongoing in the country with the total investment of MAD5.7 billion ($550 million).

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

• Morocco’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 Morocco’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 Morocco. It provides -

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