Construction in Bulgaria - Key Trends and Opportunities to 2025

Construction in Bulgaria - Key Trends and Opportunities to 2025

Summary

The Coronavirus (COVID-19) outbreak severely affected Bulgaria’s construction industry, the industry suffered from labour shortages and project delays amid the travel restrictions and social distancing measures imposed by the government. This led to industry output contracting by 1.2% in 2020 down from a growth rate of 3.6% in 2019. According to the National Statistical Institute (NSI), the construction industry’s value-add grew marginally by 0.7% year-on-year (YoY) in real terms in the third quarter of 2020, following a decline of 7.4% in Q2 2020 and a growth rate of 1.9% in Q1 2020.

However, the construction industry is forecasted to recover in 2021, with a growth of 5% expected, supported by the resumption of construction works. Over the remainder of the forecast period, the industry is expected to grow at an annual average rate of 4%. The industry will be supported by investments in the infrastructure construction sector. In July 2020, the European Union (EU) announced an economic recovery package worth BGN59 billion (US$33.2 billion) under the bloc’s long-term budget for the period 2021-2027. The country will also receive BGN17.6 billion (US$9.9 billion) under the EU’s cohesion policy 2021-2027 to develop the country’s research and innovation (R&I) centres. The government also allocated BGN40 million (US$22.5 million) in January 2021 to support employment in the tourism and transport sectors under the Human Resources Development programme.

This report provides detailed market analysis, information, and insights into Bulgaria’s construction industry, including -

  • Bulgaria’s 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 Bulgaria’s 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 (2016-2020) and forecast (2021-2025) 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.


1 Executive Summary
2 Construction Industry: At-a-Glance
3 Context
3.1 Economic Performance
3.2 Political Environment and Policy
3.3 Demographics
3.4 COVID-19 Status
4 Construction Outlook
4.1 All Construction
4.2 Commercial Construction
4.3 Industrial Construction
4.4 Infrastructure Construction
4.5 Energy and Utilities Construction
4.6 Institutional Construction
4.7 Residential Construction
5 Key Industry Participants
5.1 Contractors
5.2 Consultants
6 Construction Market Data
7 Appendix
7.1 What is this Report About?
7.2 Definitions
7.3 GlobalData Construction
List of Tables
Table 1: Construction Industry Key Data
Table 2: Bulgaria, Key Economic Indicators
Table 3: Bulgaria, Commercial Construction Output by Project Type (real % change), 2016-2025
Table 4: Bulgaria, Top Commercial Construction Projects by Value
Table 5: Bulgaria, Industrial Construction Output by Project Type (real % change), 2016-2025
Table 6: Bulgaria, Top Industrial Construction Projects by Value
Table 7: Bulgaria, Infrastructure Construction Output by Project Type (real % change), 2016-2025
Table 8: Bulgaria, Top Infrastructure Construction Projects by Value
Table 9: Bulgaria, Energy and Utilities Construction Output by Project Type (real % change), 2016-2025
Table 10: Bulgaria, Top Energy and Utilities Construction Projects by Value
Table 11: Bulgaria, Institutional Construction Output by Project Type (real % change), 2016-2025
Table 12: Bulgaria, Top Institutional Construction Projects by Value
Table 13: Bulgaria, Residential Construction Output by Project Type (real % change), 2016-2025
Table 14: Bulgaria, Top Residential Construction Projects by Value
Table 15: Bulgaria, Key Contractors
Table 16: Bulgaria, Key Consultants
Table 17: Bulgaria, Construction Output Value (Real, US$ Million)
Table 18: Bulgaria, Construction Output Value (Nominal, BGN Million)
Table 19: GlobalData Construction Market Definitions
List of Figures
Figure 1: Eastern Europe, Construction Output (Real % Change), 2020 and 2021
Figure 2: Bulgaria, Construction Projects Pipeline by Sector (US$ Billion)
Figure 3: Bulgaria, COVID-19 Confirmed Cases
Figure 4: Bulgaria, Construction Output Value (Real, US$ Billion, 2017 Prices and Exchange Rate), 2016-2025
Figure 5: Bulgaria, Construction Output Value, by Sector (Real, US$ Million), 2016-2025
Figure 6: Bulgaria, Construction Value-Add (BGN Million, 2015 Prices)
Figure 7: Bulgaria, Construction Production Index (Unadjusted, 2015=100)
Figure 8: Bulgaria, Gross-Fixed Capital Formation (BGN Million, Current Prices)
Figure 9: Bulgaria, Construction Projects Momentum Index
Figure 10: Bulgaria, Commercial Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 11: Bulgaria, Commercial Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 12: Bulgaria, Overnight Stays (in Number), in Thousands
Figure 13: Bulgaria, Wholesale and Retail Trade Value Add (BGN Million, 2015 Prices)
Figure 14: Bulgaria, Industrial Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 15: Bulgaria, Industrial Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 16: Bulgaria, Industrial and Manufacturing Production Indices, (Unadjusted, 2015=100), % Change YoY
Figure 17: Bulgaria, Exports (BGN Billion), % Change YoY
Figure 18: Bulgaria, Infrastructure Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 19: Bulgaria, Infrastructure Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 20: Bulgaria, Energy and Utilities Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 21: Bulgaria, Energy and Utilities Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 22: Bulgaria, Institutional Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 23: Bulgaria, Institutional Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 24: Bulgaria, Administrative Building Permits (Gross Building Area - in 1000m2)
Figure 25: Bulgaria, Residential Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 26: Bulgaria, Residential Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 27: Bulgaria, Real Estate Value-Add (BHD Million, 2015 Prices)
Figure 28: Bulgaria, Residential Building Permits (Gross Building Area - in 1000m2)
Figure 29: Bulgaria, House Price Index (2015=100)
Figure 30: Bulgaria, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 31: Bulgaria, Headquarters of Key Consultants (% of Total Project Pipeline)

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