In FY 2022–2023—a 168.2% increase over FY 2021–2022—South African National Roads Agency SOC Limited awarded 323 road and highway tenders.
With the execution of renewable energy projects and increased transportation developments, the South African construction industry was predicted to grow by 2% in real terms in 2023 after declining by 3.4% annually in 2022. The infrastructure and energy and utilities construction sectors were predicted to grow by 2.7% and 3.3%, respectively, in 2023.
The Financial Year (FY) 2022–2023 saw the South African National Roads Agency SOC Limited (SANRAL) award 323 road and highway tenders, totaling ZAR59 billion ($3.5 billion), an increase of 168.2% over FY2021-22.
It is anticipated that the South African construction sector would increase at an average annual rate of 3.6% between 2025 and 2027, driven by developments in transportation, energy, industrial, and housing projects. The industry’s output is forecast to grow by 1.9% in 2024.
According to the most recent budget, which was unveiled in February 2023, total government spending from FY2023–24 to FY2025-26 will be ZAR7.1 trillion ($424.4 billion). The largest portions of the total, were ZAR45.9 billion ($2.7 billion) for housing infrastructure over the same period, ZAR121.3 billion ($7.3 billion) for water infrastructure, and ZAR233.1 billion ($13.9 billion) for road infrastructure.
The report provides detailed market analysis, information and insights into the South African construction industry, including:
The South African 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 South African construction industry
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.
- Historical (2018-2022) and forecast (2023-2027) valuations of the construction industry in South Africa, 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
Key Report Benefits
- Identify and evaluate market opportunities using the analyst’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 the analyst’s critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
For more information about this report visit https://www.researchandmarkets.com/r/ai10gm
