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Key Trends and Opportunities in Bulgarian Construction industry & Forecast to 2021

06-29-2017 10:35 AM CET | Industry, Real Estate & Construction

Press release from: Construction Market Reports - MRH

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Following a contraction in 2014, the Bulgarian construction sector rebounded in 2015 and registered a growth rate of 2.8% in real terms. This recovery continued in 2016, due to improvements in economic conditions and a decline in the budget deficit.

According to the International Monetary Fund (IMF), the country's GDP registered growth of 3.0% in 2016 and 2.3% in 2015. Additionally, the country's budget deficit declined from 5.8% of total GDP in 2014 to 2.8% in 2015.

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The industry's value is expected to pick up over the forecast period (2017 - 2021). Investment in road, rail and transport infrastructure, and improvements in consumer and investor confidence, and in regional and global economic conditions will support growth.

The industry's output value in real terms is expected to record a compound annual growth rate (CAGR) of 4.16% over the forecast period, up from 0.43% during the review period (2012 - 2016).

Timetrics Construction in Bulgaria Key Trends and Opportunities to 2021 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

Analysis of equipment, material and service costs for each project type in Bulgaria

Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in the Bulgarian construction industry

Profiles of the leading operators in the Bulgarian construction industry

This report provides a comprehensive analysis of the construction industry in Bulgaria. It provides:

- Historical (2012-2016) and forecast (2017-2021) valuations of the construction industry in Bulgaria using construction output and value-add methods

- Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by project type

- Breakdown of values within each project type, by type of activity (new construction, repair and maintenance, refurbishment and demolition) and by type of cost (materials, equipment and services)

- Analysis of key construction industry issues, including regulation, cost management, funding and pricing

- Detailed profiles of the leading construction companies in Bulgaria

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Reasons To Buy
- Identify and evaluate market opportunities using Timetric'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 Timetric's critical and actionable insight.

- Assess business risks, including cost, regulatory and competitive pressures.

- Evaluate competitive risk and success factors.

Key Highlights
As robust and modern transport infrastructure is vital for an economys growth and competitiveness, the government is focusing on infrastructure development. Accordingly, under the EUs Operational Program for Regional Development 20142020, the government plans to spend BGN7.8 billion (US$5.3 billion) on the construction of highways and roads infrastructure in the country by 2020.

In terms of buildings permits, there has been clear evidence of improvement in residential construction. According to the Bulgarian National Statistical Institute (NSI), the total number of residential building permits issued in the country grew by 4.7% from 4,310 units in 2015 to 4,514 in 2016. This was preceded by an annual growth of 1.5% in 2015. The total gross area of building permits issued for residential buildings grew by 4.8% from 2.3 million m2 in 2015 to 2.4 million m2 in 2016.

According to government estimates, total demand for natural gas in the country is expected to increase by 40.0%, rising from 3.1 billion m3 per year in 2014 to 4.3 billion m3 per year by 2025. Consequently, the government is focusing on constructing an underground gas pipeline in an aim to reduce transport loss and increase efficiency. Accordingly, state-owned Bulgartransgaz plans to invest BGN1.0 billion (US$678.3) to install gas pipelines across the country, increase the capacity of underground gas storage at Chiren, modernize compressor stations and expand the gas grids by 2025.

To revive the manufacturing industry, the government is focusing on developing industrial zones and changing foreign investment law. In January 2016, the government adopted the Public Procurement Act to ensure a transparent business environment and tackle malpractice, corruption and administrative inefficiencies. Moreover in June 2016, the government changed its commercial law.

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