Sri Lanka Construction Market Size, Trends and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026

Sri Lanka Construction Market Size, Trends and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026

Summary

The construction industry in Sri Lanka is expected to contract by 7% in real terms this year-down from GlobalData’s prior estimate of a 4.6% decline. The industry’s output in 2022 will be severely affected by the economic and political crisis and its impact on construction progress. In late September 2022, the National Construction Association of Sri Lanka reported that activity in the construction industry had collapsed, with 90% of work across the country coming to a standstill, mainly due to the shortage of cement, iron, and other raw materials; this is expected to result in a possible loss of 75% of the industry’s workforce. The association also reported that more than 1,000 building material suppliers had suspended operations, amid the unavailability of construction materials. According to the Ministry of Finance, the total cement production in the country fell by 21.5% year-on-year (YoY) in the first eight months of 2022, while the total cement imports fell by 38.7% YoY over the same period.

The Sri Lankan construction industry is expected to register an average annual growth of 5.9% from 2024 to 2026, supported by investment in transport, renewable energy, housing, industrial zone, and tourism projects. As part of the latest budget, Mr. Wickremesinghe reported that the government will create an investment-friendly environment and promote greater foreign investment in the country. To encourage foreign investment, the government appointed a committee to establish an investment promotion agency, by bringing the Board of Investment (BOI), the Export Development Board (EDB), and the Sri Lanka Export Credit Insurance Corporation (SLECIC) together onto one platform. Previously, in September 2022, India reported that it will support Sri Lanka through long-term investment in key economic sectors. According to the Indian High Commissioner to Sri Lanka, public and private sector investors from India will explore opportunities in Sri Lankan sectors such infrastructure, renewable energy, electricity, hydrocarbons, education, and information technology, among others. As of mid-September 2022, India had ongoing development projects worth approximately LKR1 trillion ($3.5 billion) in Sri Lanka.

The report provides detailed market analysis, information and insights into the Sri Lankan construction industry, including -

  • The Sri Lankan 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 Sri Lankan 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 Sri Lanka. It provides -
  • Historical (2017-2021) and forecast (2022-2026) valuations of the construction industry in Sri Lanka, 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. Construction Outlook
2. Construction Industry: At-a-Glance
3. Latest News and Developments
4. Project Analytics
5. Construction Market Data
6. Risk Profile
7. About GlobalData
7.1 Definitions
7.2 CRI Methodology
List of Tables
Table 1: Construction Industry Key Data
Table 2: Sri Lanka, Top Construction Projects by Value
Table 3: Sri Lanka, Construction Output Value (Real, $ Million)
Table 4: Sri Lanka, Construction Output Value (Nominal, LKR Billion)
Table 5: GlobalData Construction Market Definitions
Table 6: Risk Dimensions
Table 7: Ratings, Scores, and Definitions
List of Figures/B>
Figure 1: Sri Lanka, Construction Output Value (Real, $ Million, 2017 Prices and Exchange Rate), 2017-26
Figure 2: Sri Lanka, Construction Output Value, by Sector (Real, $ Million), 2017-26
Figure 3: South Asia, Construction Output (Real % Change), 2020-26
Figure 4: Sri Lanka, Construction Output by Sector (Real % Change), 2020-22 and 2023-26
Figure 5: Sri Lanka, Construction Value Add (LKR Million, 2015 Constant Prices)
Figure 6: Sri Lanka, Gross Fixed Capital Formation (LKR Million, 2015 Constant Prices)
Figure 7: Sri Lanka, Tourist Arrivals
Figure 8: Sri Lanka, Tourism Sector Earnings, in $ Million
Figure 9: Sri Lanka, Accommodation and Food and Beverage Services Value Add (LKR Million, 2015 Constant Prices)
Figure 10: Sri Lanka, Wholesale and Retail Trade Value Add (LKR Million, 2015 Constant Prices)
Figure 11: Sri Lanka, Manufacturing PMI
Figure 12: Sri Lanka, Index of Industrial Production, 2015=100
Figure 13: Sri Lanka, Total Exports, in $ Million
Figure 14: Sri Lanka, Electricity Generation, in GWh
Figure 15: Sri Lanka, Telecommunication Value Add (LKR Million, 2015 Constant Prices)
Figure 16: Sri Lanka, Sewerage, Waste, Treatment, and Disposal Activities Value Add (LKR Million, 2015 Constant Prices)
Figure 17: Sri Lanka, Water Collection, Treatment, and Water Supply Value Add (LKR Million, 2015 Constant Prices)
Figure 18: Sri Lanka, Real Estate Activity and Dwelling Ownership Value Add (LKR Million, 2015 Constant Prices)
Figure 19: Sri Lanka, Construction Projects Pipeline, Value by Stage ($ Million)
Figure 20: Sri Lanka, Risk Summary
Figure 21: Sri Lanka, Risk Regional Comparison

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