ConstructAfrica Launches South Africa Construction Market Report 2022
ConstructAfrica announces the launch of its latest 2022 Construction Market country report for South Africa.
The ‘South Africa Construction Market Report 2022’ is available online from 19th July 2022.
The South Africa Construction Market Report 2022 provides the latest insights of interest to industry stakeholders as well as investors seeking to invest in the country’s fast-growing construction industry.
South Africa is the 25th largest country in the world, covering an area of 1.21 million square kilometres. With a population of 57 million, it is the third-largest economy in Africa, after Nigeria and Egypt. In 2021, South Africa recorded a GDP of US$419.95 billion, according to the World Bank.
South Africa’s construction industry presents a multi-faceted approach to innovation and growth in the global construction sector. The South African construction market was valued at $27.9 billion in 2021, with AAGR (average annual growth rate) projected at over 2% during 2023-2026. The key sectors in the South African construction market are commercial, industrial, infrastructure, energy & utilities, institutional and residential.
However, the industry has faced a variety of challenges in the form of economic pressures, low mark-ups, shortage of skills, and the continued impact of COVID-19 and supply chain risks.
In the latest budget unveiled in February 2022, the government announced a plan to invest R812.5 billion (US$51 billion) towards public-sector infrastructure spending over the next three years from FY2022/2023 to FY2024/2025. Of the total, it allocated R311.8 billion (US$18 billion) to the transport and logistics sector and R124.8 billion (US$7.3 billion) to the energy sector.
Investments related to the 10-year R2.2 trillion (US$133 billion) infrastructure plan unveiled by the government in 2021 will support the industry's output. The plan comprises 276 projects in various sectors, including transport, energy, industrial and housing.
The report contains an in-depth look into major industry trends, along with the functioning of the South African construction industry, its size, and structure, as well as various major projects, key player profiles, and competitors. For those looking to invest in the South African construction industry or planning to set up a new business, the report addresses guidelines and potential hindrances.
To order now and beneﬁt from the early bird 20% discount (a savings of US$300), and get a free sample presentation of the report, visit sareport.constructafrica.com or contact us via email at firstname.lastname@example.org for more information.
Deloitte Building, Waterfall City, Johannesburg (Richtphoto Smile | Dreamstime)