SA construction industry to reach US $41bn by 2022
South Africa’s Construction Industry is projected to reach US $41bn by 2022 with CAGR growing at 14.9%; this is according to a report by Research and Markets.
The report revealed that the residential construction industry in value terms increased at a CAGR of 17.6% during 2013-2017 while the commercial building construction market in value terms is expected to record a CAGR of 13.1% over the forecast period. On the other hand, the infrastructure construction was estimated to be US $5.8bn in 2017 and this posted a CAGR of 10.9% during review period.
This report provides data, analyses and opinion on the construction industry with over 100 KPIs. Apart from that, facts and details are provided on the market size & forecast, growth drivers, emerging trends, market opportunities, and investment risks in over 40 segments in the building & infrastructure construction industry.
The construction industry adds a considerable amount of value to South Africa and its citizens. The monetary value received by various stakeholders is often summed up by companies in their value added statements.
According to Stats SA, the value received by heavy construction employees represents a very high percentage of the value created. They further point out that more than 1.2 million people are employed by the construction industry either permanently or on a contract basis.
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It provides a comprehensive understanding of the construction industry both in value and volume. Also, it focuses on combining industry dynamics with macro-economic and changing consumer behaviour to offer a 360-degree view of the opportunities and risk