The Bangladesh Construction Market size is estimated at USD 32.33 billion in 2024, and is expected to reach USD 44.13 billion by 2029, growing at a CAGR of 6.42% during the forecast period (2024-2029).
Infrastructure development (both large-scale and small-scale) and urbanization are the main drivers of the construction sector, which accounts for nearly 8% of GDP growth and 4% of GDP growth, respectively. This growth in demand for raw materials increases the demand for steel and cement products.
Infrastructure construction is projected to be in good shape over the next 5 years as the government aims to increase investment in transportation infrastructure through PPPs to boost the country’s economy. To meet the growing electricity demand, the country will invest in power infrastructure to support forecast-period generation in the power and utility sectors. The country’s electricity demand is estimated to be 40 GW by 2030, and the government plans to invest USD 70 billion in this sector by 2035.
In addition, Bangladesh is set to inaugurate three infrastructure projects in September to be funded by India. The projects are a 660 MW super thermal power plant, a 2nd unit of Rampal Power Plant in southwest Bangladesh, as well as two railway lines, the 65 km Khulna - Mongla Port railway link and the 65 km Akhaura - Agartala railway link.
The report covers the major players operating in the Bangladesh construction market. The market is fragmented and expected to grow during the forecast period due to continued economic growth, an increase in demand for residential real estate in metropolitan cities, and a few other factors.
Some of the major players in the Bangladesh construction market are Western Engineering (Pvt.) Ltd, Mir Akhter Hossain Limited, Mazid Sons Constructions Ltd, etc. However, the market holds opportunities for small and medium players due to increasing government investments.
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