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Construction in Bulgaria - Key Trends and Opportunities to 2023

Construction in Bulgaria - Key Trends and Opportunities to 2023

Summary

Bulgaria’s construction industry retained growth momentum in 2017 and 2018, with output expanding by 4.4% and 3.7% respectively in real terms - up from -6.8% in 2016. The industry’s output value, measured at constant 2017 US dollar exchange rates, increased from US$8 billion in 2016 to US$8.7 billion in 2018. According to the National Statistical Institute (NSI), the country’s average construction production index at 2015 prices grew by 1.6%, going from 87.1 in 2017 to 88.5 in 2018; this was preceded by an annual contraction of 16.7% in 2016 and an annual growth of 4.6% in 2017. Moreover, it rose by 0.9% in the first month of 2019 (the latest data available at the time of writing), compared to the same period of the previous year.

Over the forecast period (2019-2023), the industry is expected to be driven by the government’s efforts to develop the country’s transport infrastructure and residential market. Financial assistance from the European Union (EU) will also support the industry’s growth over the forecast period; the country will receive BGN4.5 billion (US$2.7 billion) from the EU’s 2019 budget, of which BGN1.5 billion (US$903.9 million) will be allotted towards infrastructure projects in the country.

The industry’s output value in real terms is expected to rise at a CAGR of 4.40% over the forecast period, compared to 0.91% during the review period (2014-2018). The industry is consequently expected to rise from a value of US$8.7 billion in 2018 to US$10.7 billion in 2023, measured at constant 2017 US dollar exchange rates. The total construction project pipeline in Bulgaria including all mega projects with a value above US$25 million - stands at BGN57.2 billion (US$34.4 billion). The pipeline, which includes all projects from pre-planning to execution, is relatively balanced, with 50.1% of the pipeline value being in projects in the pre-planning and planning stages as of April 2019.

Accounting for 36.1% of the industry’s total value in 2018, infrastructure construction was the largest market in the Bulgarian construction industry during the review period. The market is expected to retain its position over the forecast period, and account for 33.9% of the industry’s total value in 2023. Over the forecast period, the market output will be supported by the government’s investment in rail and road transport infrastructure development projects. Residential construction accounted for 27.8% of the industry’s total output in 2018, followed by commercial construction with 14.4%, industrial construction with 9.4%, energy and utilities construction with 8.6% and institutional construction with 3.8%.

The report Construction in Bulgaria - Key Trends and Opportunities to 2023, 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.
Scope

This report provides a comprehensive analysis of the construction industry in Bulgaria. It provides -
  • Historical (2014-2018) and forecast (2019-2023) 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.
Reasons to buy
  • Identify and evaluate market opportunities using GlobalData'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 GlobalData's critical and actionable insight.
  • Assess business risks, including cost, regulatory and competitive pressures.
  • Evaluate competitive risk and success factors.


  • Executive Summary
  • Construction Outlook: At-a-glance
    • Table Construction Outlook
    • Table Figure 1:Key Markets, Construction Output Growth Matrix and Risk Matrix
    • Table Figure 2:Bulgaria, Construction Projects Pipeline by Sector (BGN Billion)
  • Latest News and Indicators
    • Table Figure 3:Bulgaria, Total gross floor area of residential building permits issued (m2)
    • Table Figure 4:Bulgaria, House Prices Index
  • Key Drivers and Risks
    • Economic Performance
      • Table Bulgaria, Key Economic Indicators
    • Political Environment
    • Demographics
    • Risk Profile
      • Table Figure 5:Bulgaria, Risk Profile
      • Table Figure 6:Bulgaria, Risk Comparison
  • Construction Outlook
    • All Construction
      • Outlook
        • Table Figure 7:Bulgaria, Construction Output Value (Real, US$ billion, 2017 prices and exchange rate)
        • Table Figure 8:Bulgaria, Construction Output Value, Growth Matrix
        • Table Figure 9:Bulgaria, Construction Output Value, by Sector (BGN Million), 2014-2023
      • Project analytics
        • Table Figure 10: Bulgaria, Construction Projects Pipeline, Projected Annual Spending by Stage (BGN Million), 2018-2023
        • Table Figure 11:Bulgaria, Construction Projects Pipeline, Value by Stage (BGN Million)
        • Table Bulgaria, Construction Output Value (nominal, BGN Million)
        • Table Bulgaria, Construction Output Value (nominal, US$ Million)
    • Commercial Construction
      • Outlook
        • Table Figure 12:Bulgaria, Commercial Construction Output by Project Type (BGN Million), 2014-2023
      • Project analytics
        • Table Figure 13:Bulgaria, Commercial Construction Projects Pipeline, Value by Stage (BGN Million)
        • Table Figure 14:Bulgaria, Commercial Construction Projects Pipeline, Projected Annual Spending by Stage (BGN Million), 2018- 2023
        • Table Bulgaria, Top Commercial Construction Projects by Value
    • Industrial Construction
      • Outlook
        • Table Figure 15: Bulgaria, Industrial Construction Output by Project Type (BGN Million), 2014-2023
      • Project analytics
        • Table Figure 16: Bulgaria, Industrial Construction Projects Pipeline, Value by Stage (BGN Million)
        • Table Figure 17: Bulgaria, Industrial Construction Projects Pipeline, Projected Annual Spending by Stage (BGN Million), 2018-2023
        • Table Bulgaria, Top Industrial Construction Projects by Value
    • Infrastructure Construction
      • Outlook
        • Table Figure 18:Bulgaria, Infrastructure Construction Output by Project Type (BGN Million), 2014-2023
      • Project analytics
        • Table Figure 19:Bulgaria, Infrastructure Construction Projects Pipeline, Value by Stage (BGN Million)
        • Table Figure 20:Bulgaria, Infrastructure Construction Projects Pipeline, Projected Annual Spending by Stage (BGN Million), 2018- 2023
        • Table Bulgaria, Top Infrastructure Construction Projects by Value
    • Energy and Utilities Construction
      • Outlook
        • Table Figure 21:Bulgaria, Energy and Utilities Construction Output by Project Type (BGN Million), 2014-2023
      • Project analytics
        • Table Figure 22:Bulgaria, Energy and Utilities Construction Projects Pipeline, Value by Stage (BGN Million)
        • Table Figure 23:Bulgaria, Energy and Utilities Construction Projects Pipeline, Projected Annual Spending by Stage (BGN Million), 2018-2023
        • Table Bulgaria, Top Energy and Utilities Construction Projects by Value
    • Institutional Construction
      • Outlook
        • Table Figure 24:Bulgaria, Institutional Construction Output by Project Type (BGN Million), 2014-2023
      • Project analytics
        • Table Figure 25:Bulgaria, Institutional Construction Projects Pipeline, Value by Stage (BGN Million)
        • Table Figure 26: Bulgaria, Institutional Construction Projects Pipeline, Projected Annual Spending by Stage (BGN Million), 2018- 2023
        • Table Bulgaria, Top Institutional Construction Projects by Value
    • Residential Construction
      • Outlook
        • Table Figure 27: Bulgaria, Residential Construction Output by Project Type (BGN Million), 2014-2023
      • Project analytics
        • Table Figure 28:Bulgaria, Residential Construction Projects Pipeline, Value by Stage (BGN Million)
        • Table Figure 29:Bulgaria, Residential Construction Projects Pipeline, Projected Annual Spending by Stage (BGN Million), 2018-2023
        • Table Bulgaria, Top Residential and Mixed-Use Construction Projects by Value
  • Key Industry Participants
    • Contractors
      • Table Bulgaria, Key Contractors
      • Table Figure 30: Bulgaria, Headquarters of Key Contractors (% of Total Project Pipeline)
      • Table Figure 31:Bulgaria, Headquarters of Foreign Contractors (% of Project Pipeline with Foreign Contractor)
    • Consultants
      • Table Bulgaria, Key Consultants
      • Table Figure 32:Bulgaria, Headquarters of Key Consultants (% of Total Project Pipeline)
      • Table Figure 33: Bulgaria, Headquarters of Foreign Consultants (% of Project Pipeline with Foreign Consultants)
  • Appendix
    • What is this Report About?
    • Definitions
      • Table GlobalData Construction Market Definitions
      • Table Construction Risk Index Ratings and Scores
  • About GlobalData
    • GlobalData at a Glance
      • Table Figure 34: GlobalData at a Glance
    • GlobalData Construction
    • Disclaimer
    • Contact Us

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