DUBLIN, March 5, 2024 /PRNewswire/ — The “Bulgaria Construction Market Size, Trends, and Forecasts by Sector – Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2024-2028” report has been added to ResearchAndMarkets.com’s offering.
The construction industry in Bulgaria is expected to decline by 1% in real terms in 2024, owing to elevated costs for materials, energy, and labour, and falling building permits. According to the National Statistical Institute (NSI), the gross building area of permits issued for the construction of new buildings declined by 14.4% year-on-year (YoY) during the first nine months of 2023, with that for residentials declining by 22.7% YoY during the same period. Moreover, the construction of new buildings started also declined by 5.5% YoY during January-September 2023, with that for new residential declining by 8.1% YoY during the same period.
Over the remainder of the forecast period, between 2025 and 2028, Bulgaria’s construction industry is expected to recover and record an annual average growth rate of 4.2%, 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 will be through renewable sources.
In December 2023, the European Union (EU), under Just Transition Fund (JTF), announced funding of BGN2.3 billion ($1.2 billion) to support climate transition in the country. Under this plan, the country aims to support energy efficiency measures in residential buildings, construct renewable energy source capacities, develop industrial areas, and reach climate-neutral economy by 2050 by phasing out coal and reducing CO2 emissions.
The Construction in Bulgaria – Key Trends and Opportunities to 2028 (H1 2024) report provides detailed market analysis, information, and insights into the Bulgarian construction industry, including –
- The Bulgarian 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 Bulgarian construction industry
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline
This report provides a comprehensive analysis of the construction industry in Bulgaria. It provides –
- Historical (2019-2023) and forecast (2024-2028) 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
Key Benefits
- Identify and evaluate market opportunities using 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.
For more information about this report visit https://www.researchandmarkets.com/r/qkovyz
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SOURCE Research and Markets
