Construction in Morocco - Key Trends and Opportunities to 2023

Construction in Morocco - Key Trends and Opportunities to 2023

Construction in Morocco - Key Trends and Opportunities to 2023

Summary

Morocco’s construction industry registered minimal growth in 2018, with output growing at 0.6% in real terms; this was preceded by annual growth rates of 1.6% in 2016 and 0.7% in 2017. The industry’s output value, measured at constant 2017 US dollar exchange rates, increased from US$14.1 billion in 2017 to US$14.2 billion in 2018.

This slow growth can be attributed to the government’s efforts to reduce the fiscal deficit, reduced investments in commercial and industrial construction projects due to delayed payments and delays in the signing contracts between investors and the government. Overall, the industry posted minimal growth during the review period (2014-2018), registering a compound annual growth rate (CAGR) of 0.91% in real terms.

The industry’s output value in real terms is expected to rise at a CAGR of 3.46% over the forecast period (2019-2023). The industry is consequently expected to rise from a value of US$14.2 billion in 2018 to US$16.9 billion in 2023, measured at constant 2017 US dollar exchange rates.

Residential construction was the largest market in the Moroccan construction industry during the review period, accounting for 30.9% of its total value in 2018. The market is expected to follow a similar trend over the forecast period, with residential construction accounting for 31.3% of the industry’s total value in 2023. Commercial construction accounted for 20.6% of the industry’s total output in 2018, followed by infrastructure construction with 17.5%, institutional construction with 15.4%, energy and utilities construction with 9.9% and industrial construction with 5.8%.

The total construction project pipeline in Morocco including all mega projects with a value above US$25 million - stands at MAD602.1 billion (US$65.7 billion). The pipeline, which includes all projects from pre-planning to execution, is skewed towards late-stage projects, with 56.3% of the pipeline value being in projects in the pre-execution and execution stages as of August 2019.

Scope

This report provides a comprehensive analysis of the construction industry in Morocco. It provides -

  • Historical (2014-2018) and forecast (2019-2023) valuations of the construction industry in Morocco, 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: Morocco, Construction Projects Pipeline by Sector (MAD Billion)
    • Latest News and Indicators
    • Key Drivers and Risks
      • Economic Performance
        • Table Morocco, Key Economic Indicators
      • Political Environment
      • Demographics
      • Risk Profile
        • Table Figure 3: Morocco, Risk Profile
        • Table Figure 4: Morocco, Risk Comparison
    • Construction Outlook
      • All Construction
        • Outlook
          • Table Figure 5: Morocco, Construction Output Value (Real, US$ billion, 2017 prices and exchange rate)
          • Table Figure 6: Morocco, Construction Output Value, Growth Matrix
          • Table Figure 7: Morocco, Construction Output Value, by Sector (MAD Million), 2014-2023
        • Project analytics
          • Table Figure 8: Morocco, Construction Projects Pipeline, Projected Annual Spending by Stage (MAD Million), 2018-2023
          • Table Figure 9: Morocco, Construction Projects Pipeline, Value by Stage (MAD Million)
          • Table Morocco, Construction Output Value (nominal, MAD Million)
          • Table Morocco, Construction Output Value (nominal, US$ Million)
      • Commercial Construction
        • Outlook
          • Table Figure 10: Morocco, Commercial Construction Output by Project Type (MAD Million), 2014-2023
        • Project analytics
          • Table Figure 11: Morocco, Commercial Construction Projects Pipeline, Value by Stage (MAD Million)
          • Table Figure 12: Morocco, Commercial Construction Projects Pipeline, Projected Annual Spending by Stage (MAD Million), 2018- 2023
          • Table Morocco, Top Commercial Construction Projects by Value
      • Industrial Construction
        • Outlook
          • Table Figure 13: Morocco, Industrial Construction Output by Project Type (MAD Million), 2014-2023
        • Project analytics
          • Table Figure 14: Morocco, Industrial Construction Projects Pipeline, Value by Stage (MAD Million)
          • Table Figure 15: Morocco, Industrial Construction Projects Pipeline, Projected Annual Spending by Stage (MAD Million), 2018-2023
          • Table Morocco, Top Industrial Construction Projects by Value
      • Infrastructure Construction
        • Outlook
          • Table Figure 16: Morocco, Infrastructure Construction Output by Project Type (MAD Million), 2014-2023
        • Project analytics
          • Table Figure 17: Morocco, Infrastructure Construction Projects Pipeline, Value by Stage (MAD Million)
          • Table Figure 18: Morocco, Infrastructure Construction Projects Pipeline, Projected Annual Spending by Stage (MAD Million), 2018- 2023
          • Table Morocco, Top Infrastructure Construction Projects by Value
      • Energy and Utilities Construction
        • Outlook
          • Table Figure 19: Morocco, Energy and Utilities Construction Output by Project Type (MAD Million), 2014-2023
        • Project analytics
          • Table Figure 20: Morocco, Energy and Utilities Construction Projects Pipeline, Value by Stage (MAD Million)
          • Table Figure 21: Morocco, Energy and Utilities Construction Projects Pipeline, Projected Annual Spending by Stage (MAD Million), 2018-2023
          • Table Morocco, Top Energy and Utilities Construction Projects by Value
      • Institutional Construction
        • Outlook
          • Table Figure 22: Morocco, Institutional Construction Output by Project Type (MAD Million), 2014-2023
        • Project analytics
          • Table Figure 23: Morocco, Institutional Construction Projects Pipeline, Value by Stage (MAD Million)
          • Table Figure 24: Morocco, Institutional Construction Projects Pipeline, Projected Annual Spending by Stage (MAD Million), 2018- 2023
          • Table Morocco, Top Institutional Construction Projects by Value
      • Residential Construction
        • Outlook
          • Table Figure 25: Morocco, Residential Construction Output by Project Type (MAD Million), 2014-2023
        • Project analytics
          • Table Figure 26: Morocco, Residential Construction Projects Pipeline, Value by Stage (MAD Million)
          • Table Figure 27: Morocco, Residential Construction Projects Pipeline, Projected Annual Spending by Stage (MAD Million), 2018- 2023
          • Table Morocco, Top Residential and Mixed-Use Construction Projects by Value
    • Key Industry Participants
      • Contractors
        • Table Morocco, Key Contractors
        • Table Figure 28: Morocco, Headquarters of Key Contractors (% of Total Project Pipeline)
        • Table Figure 29: Morocco, Headquarters of Foreign Contractors (% of Project Pipeline with Foreign Contractor)
      • Consultants
        • Table Morocco, Key Consultants
        • Table Figure 30: Morocco, Headquarters of Key Consultants (% of Total Project Pipeline)
        • Table Figure 31: Morocco, 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 32: GlobalData at a Glance
      • GlobalData Construction
      • Disclaimer
      • Contact Us

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