Dublin, Nov. 29, 2023 /PRNewswire/ — The “Morocco Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2027” report has been added to ResearchAndMarkets.com’s offering.
The publisher expects Morocco’s construction industry to record a decline of 1.5% in 2023, owing primarily to weakness in the residential and commercial sector amid weak business sentiment due to the damage caused by earthquake in Morocco in September 2023.
Additionally, the rising interest rates and high construction costs will severely dampen investment in the residential, institutional sector this year. According to the High Commission for Planning (HCP), the construction industry’s value-add decreased by 3.4% year on year (YoY) in Q1 2023, preceded by Y-o-Y decline of 7.1% in Q4 and 5.1% in Q3 2022.
Moreover, Morocco’s Foreign Direct Investment (FDI) revenues declined by 29% YoY in the first half of 2023, according to data from Morocco’s Office d’Echange (OE). However, weakness in the residential and commercial sector is set to be partially offset by improvement in investment in transport and energy infrastructure. In May 2023, Morocco’s National Investment Commission approved 17 projects with a combined budget of MAD76.7 billion ($7.4 billion). Previously in January 2023, Morocco’s government approved 26 projects with an investment of MAD28.5 billion ($2.7 billion) for 2023.
The construction industry is expected to register an annual average growth of 3.9% from 2024 to 2027, supported by increased investments in the transportation and energy sectors. Moreover, the governments initiatives to revive the damage infrastructure and housing units will drive the growth over the forecast period.
In September 2023, Morocco government announced its plans to spend MAD120 billion ($11.7 billion) in a post-earthquake reconstruction plan over the next five years (2024-2029). In July 2023, Morocco allocated MAD55 billion ($5.3 billion) over the next four years to improve its domestic economy with cost-effective, clean energy until 2027, according to the Morocco’s Energy Transition and Sustainable Development Ministry.
As of July 2023, 4.6GW of energy projects are under construction and the ministry is planning to build additional 1.3GW of energy capacity annually between 2023 and 2027. Morocco is dependent heavily on imported hydrocarbons, with foreign sources of energy meeting 90% of energy demands. Thus, the government has set a target to produce 52% of its energy through renewable sources by 2030, 70% in 2040 and 80% in 2050.
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.
Reasons to Buy
- Identify and evaluate market opportunities using the 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 critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
Key Topics Covered:
1 Executive Summary
2. Construction Industry: At-a-Glance
3. Context
3.1 Economic Performance
3.2 Political Environment and Policy
3.3 Demographics
3.4 Risk Profile
4. Construction Outlook
4.1 All Construction
- Outlook
- Latest news and developments
4.2 Commercial Construction
- Outlook
- Project analytics
- Latest news and developments
4.3 Industrial Construction
- Outlook
- Project analytics
- Latest news and developments
4.4 Infrastructure Construction
- Outlook
- Project analytics
- Latest news and developments
4.5 Energy and Utilities Construction
- Outlook
- Project analytics
- Latest news and developments
4.6 Institutional Construction
- Outlook
- Project analytics
- Latest news and developments
4.7 Residential Construction
- Outlook
- Project analytics
- Latest news and developments
5. Key Industry Participants
5.1 Contractors
5.2 Consultants
6. Construction Market Data
7. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/1yj1ec
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SOURCE Research and Markets
