Morocco Construction Market Size, Trends and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026

Morocco Construction Market Size, Trends and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026

Summary

GlobalData has revised down the estimated growth for Morocco's construction industry in 2022—with the industry now expected to grow by 2.6% in real terms this year, down from the earlier estimate of 3.3%. This downward revision is attributed to the headwinds caused by rising inflation and supply chain disruptions caused by the Russia-Ukraine war. According to the High Commission for Planning (HCP), the value add of the construction industry grew by 1.8% year on year (YoY) in the first quarter of 2022, following Y-o-Y growth of 6.8% in Q4 and 14.2% in Q3 2021. According to the World Bank, economic growth in Morocco will decelerate in 2022, as the war in Ukraine will raise global commodity prices, which, combined with the drought, could increase Morocco's import bill and public subsidies, thereby affecting the current account and the budget balance.

The construction industry is expected to register an annual average growth of 3.8% from 2023 to 2026. Growth in the early part of the forecast period will be supported by increased investments in the transportation and energy sectors coupled with rising inward foreign direct investment (FDI). According to Office des Changes, Morocco's Exchange Office, inward FDI rose by 56% YoY in Q1 2022, rising from MAD2.5 billion ($269.1 million) in January-March 2021 to MAD3.86 billion ($415.4 million) January-March 2022. In another positive development, in February 2022, the government approved a MAD4.3 billion ($462 million) proposal from the National Office of Electricity and Drinking Water (ONEE) for the construction of 14 wastewater treatment plants by the end of this year. Previously, the Moroccan Ministry of Foreign Affairs announced in 2021 that country will attract MAD14.5 billion ($1.6 billion) in global investment by 2024 to finance a 1GW integrated wind energy programme. Over the remainder of the forecast period, the industry’s growth is expected to be supported by the government’s plan to improve the country’s industrial infrastructure and renewable energy sector and provide high-quality education and health services to its citizens. The government aims to generate 52% of electricity from renewable sources by 2030, and 100% by 2050. It plans to increase the total installed capacity of renewable energy from 3.6GW in 2019 to 10GW by 2030.

The 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 (2017-2021) and forecast (2022-2026) 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.