DUBLIN--(BUSINESS WIRE)--The "Pakistan Construction Market Size, Trends and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026" report has been added to ResearchAndMarkets.com's offering.
The construction industry in Pakistan to grow by 7% in real terms in 2022, following a 2.9% growth in 2021; this is an upwards revision from the publisher's previous projection of a 5.1% growth this year.
The upward revision is mostly due to increased investment in the construction industry, as well as increased exports and manufacturing activities. According to the preliminary estimates of the Pakistan Bureau of Statistics (PBS), the total value of the country's exports rose by 44.2% in the first four months of 2022, increasing from PKR1.4 trillion (US$8.5 billion) between January and April 2021 to PKR2 trillion (US$12.2 billion) between January and April 2022.
The publisher expects the industry's growth over the forecast period to be supported by the government's goal of maintaining sustainable economic development. The previous government passed the PKR8.48 trillion ($51.6 billion) Federal Budget of 2021-22 in June 2021, including the allocation of PKR91.9 billion ($559.5 million) for education and service, PK34.6 billion ($210.6 million) for housing and community amenities, PKR28.4 billion ($172.9 million) for healthcare, PKR26.7 billion ($162.5 million) for construction and transportation, PKR20.8 billion ($126.6 million) for fuel and energy, PKR2.3 billion ($14 million) for mining and manufacturing and PKR10.3 billion ($62.7 million) for recreation, culture and religion.
As part of Public Sector Development Program (PSDP), the current government allotted PKR800 billion ($4.1 billion) for the development projects in May 2022 for the fiscal year (FY) 2022-23. Pakistan's infrastructure sector is expected to post relatively healthy growth in 2022, with the execution of major development and renovation projects.
In October 2021, the Khyber Pakhtunkhwa Government approved PKR1.7 billion (US$10.3 million) for the restoration of 3,000km of roads and highways across the province. In addition to this, the Executive Committee of the National Economic Council (ECNEC) approved two major infrastructure projects in the Gilgit-Baltistan region in June 2021: the Shandoor-Gilgit Road development, with a value of PKR49.9 billion (US$303.8 million); and the Inter Provincial Connectivity Economic Corridor (Thallichi GB-Shounter AJK) development, at a value of PKR19.2 billion (US$116.9 million).
Although the publisher expects the construction industry to expand in 2022, there are a number of downside risks to the industry's outlook in the short term. The ongoing geopolitical crisis, the depreciation of the PKR against the US dollar and the impact of rising energy costs on construction material prices will weigh on the growth of the Pakistani construction industry, which is the second-largest employer and a significant contributor to Pakistan's GDP.
Scope
- Historical (2017-2021) and forecast (2022-2026) valuations of the construction industry in Pakistan, 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 the publisher'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 publisher's critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
Key Topics Covered:
1. Construction Outlook
2. Construction Industry: At-a-Glance
3. Latest News and Developments
4. Project Analytics
5. Construction Market Data
6. Risk Profile
For more information about this report visit https://www.researchandmarkets.com/r/zdcxh4
