◆英語タイトル：Africa Construction Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)
The Africa construction market was valued at around USD 5.4 billion in 2020 and is expected to register a CAGR of 7.4% during the forecast period (2021 – 2026).
The market was negatively impacted by Covid-19 in 2020. Over the next two years, growth is expected to remain impacted due to the economic downturn caused by the COVID-19 pandemic, across the residential, commercial, industrial, and institutional sectors in Africa. Despite near term challenges, the medium to long term outlook remains positive. Over the short term, investment in the construction industry will be driven by government spending in the infrastructure sector.
The African construction industry is the target destination for most large economies. This is because of accruing benefits and/or advantages such as availability of huge natural resources, huge investment opportunities in energy and infrastructure, cheap labor, and a fast-growing consumer market. Also, there is a beneficial business environment that includes favorable economic development policies and rising commodity prices in addition to continued progress in the fight against corruption and the adoption of democratic governments.
According to the Industry sources 482 projects valued at USD 50m or above each that had broken ground by 1 June 2018. In total, these projects are worth USD 471 billion. It nearly doubled the total project value from 2017 as it was USD 210 billion.
As a region, East Africa has the largest number of recorded projects with 139 projects. North Africa accounts for the largest share of projects in terms of value at 31.5% (or USD148.3bn). The projects included are spread over 43 of Africa’s 54 countries. Egypt is the single country having the most projects with 46 projects (9.5% of projects on the continent) as well as the most projects by value at USD79.2bn (17% of the continent’s value), edging out South Africa and Nigeria respectively.
As a sector, the Transport sector has 186 projects 22.7% of total project value, followed by power and energy projects with a share of 24.4 of the total project value.
Key Market Trends
Chinese Investments and BRI Initiative
Over the last two decades, China has established a significant economic presence in most African countries. Its lucrative economic investment package, flexible political approach, and focused big-ticket development projects under the Belt and Road Initiative (BRI) provide an ostensibly massive opportunity to African countries.
China is Africa’s biggest and strongest ally and in recent years has pumped millions of dollars into the continent. Chinese investment has increased globally, and Africa is the third-largest destination for Chinese investment behind Asia and Europe. However, investment toward sub-Saharan Africa slightly declined in 2017, following the slight drop in aggregate Chinese investment.
In recent years, Nigeria has received relatively large funds from China for railways. China is backing two major standard-gauge rail projects: One is a line from Lagos to Kano, the other is a coastal railway from Lagos to Calabar.
The country is also involved in building railways in Kenya, Ethiopia, and Zambia, among others. For instance, the Chinese Export-Import Bank provided 85 percent of the funding for the USD 475 million Addis Ababa Light Rail, which serves 4 million of the city’s residents. The investments in energy though mainly made up of oil and gas investments also comprised investment in clean energy such as hydropower.
Infrastructural Developments in the several African Countries.
The Kenya Construction industry has a high growth rate potential over the forecasted period under the national long-term development policy THE KENYA VISION 2030. The national policy aims to transform Kenya into a newly industrializing, middle-income country providing a high quality of life to all its citizens by 2030 in a clean and secure environment. Kenya Vision 2030 overall goal for the construction sector is to increase its contribution to Gross Domestic Product (GDP) by at least 10% per annum and propel Kenya towards becoming Africa’s industrial hub.
Construction activity in Tunisia over the forecast period (2019–2024), the industry is expected to grow supported by investments in public infrastructure, residential and renewable energy projects. Government flagship programs such as Tunisia 2020, the five-year development plan, and Renewable Energy Action Plan 2030 is expected to drive the industry’s growth over the forecasted period.
Under the Tunisia 2020 national five-year development plan, the government plans to develop several large scale projects in the transport, tourism, energy and utilities, education, healthcare, communication, industrial and housing sectors until 2020. The program involves a total budget of TND127.8 billion (USD60.0 billion), of which TND53.3 billion (USD25.0 billion) will be provided by the government.
The total construction project pipeline in Tunisia are including all mega projects with a value above USD 25 million each, stands at TND 112.4 billion (USD46.4 billion). With 82.4% of the pipeline, value is being in the pre-planning and planning stages as of April 2018.
South Africa’s construction industry continues to face tough times amid lower investment in infrastructure by government, low business confidence and lower foreign direct investment.
The Africa construction market is less competitive, with the presence of major international players with large market share. The Africa construction market presents opportunities for growth during the forecast period, which is expected to further drive market competition. With a few players holding a significant share, the Africa construction market has an observable level of consolidation.
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1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Current Economic and Construction Market Scenario
4.2 Technological Innovations in the Construction Sector
4.3 Impact of Government Regulations and Initiatives on the Industry
4.4 Review and Commentary on the Impact of International Construction market and growth potential for the Industry in the major African Economies.
4.5 Review and Commentary on the Chinese infrastructure projects and BRI Initiative
4.6 Comparison of Key Industry Metrics of AFRICAN Countries (Analyst View)
4.7 Comparison of Construction Cost Metrics of AFRICAN Countries(Analyst View)
4.8 Impact of Covid-19 on the Market
5 MARKET DYNAMICS
5.4 Porter’s Five Forces Analysis
5.5 Industry Value Chain Analysis
6 MARKET SEGMENTATION (Market Size by Value and Volume)
6.1 BY REGION
6.1.1 Eastern Africa
6.1.2 Western Africa
6.1.3 Southern Africa
6.1.4 Northern Africa
6.2 BY SECTOR (Selected Countries)
6.2.1 Commercial Construction
6.2.2 Residential Construction
6.2.3 Industrial Construction
6.2.4 Infrastructure (Transportation) Construction
6.2.5 Energy and Utilities Construction
6.3 BY CONSTRUCTION TYPE (Selected Countries)
6.3.2 Demolition and New Construction
6.3.3 New Constructions
7 COMPETITIVE LANDSCAPE
7.1 Market Concentration Overview
7.2 Strategies Adopted by Major Players
7.3 Company Profiles
7.3.1 CHINA COMMUNICATIONS CONSTRUCTION GROUP LTD.
7.3.2 CHINA RAILWAY CONSTRUCTION CORP. LTD.
7.3.3 Sikhumba Construction (Pty) Ltd
7.3.5 Dumez Nigeria Plc
7.3.6 General Nile Company For Roads & Bridges
7.3.7 CHINA NATIONAL MACHINERY INDUSTRY CORP.
8 INVESTMENT ANALYSIS
9 MAJOR INFRASTRUCTURE DEVELOPMENT PROJECTS (PROJECT DESCRIPTION, VALUE, LOCATION, SECTOR, CONTRACTORS)
9.1 Existing Infrastructure
9.2 On-going Projects
9.3 Upcoming Projects
10 FUTURE OF CONSTTRUCTION SECTOR IN AFRICA
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