Dublin, Sept. 04, 2020 (GLOBE NEWSWIRE) -- The "Construction in South Africa - Key Trends and Opportunities to 2024" report has been added to ResearchAndMarkets.com's offering.
The South African construction industry has been in decline since 2017, with the industry's output value in real terms contracting by 3.3% in 2019. This decline is attributed to an economic slowdown, coupled with weak consumer and investor confidence, affecting public and private sector investments in construction projects. The negative impact will persist as the industry continues to be hit hard by the impact of high national debt, labor shortages, and little infrastructure spending amid a depressed economy.
The construction industry will contract further in 2020, due to the COVID-19 outbreak and the strict nationwide lockdown imposed on March 26th, coupled with a bleak economic outlook. According to Statistics South Africa (Stats SA), the industry's value-add at constant 2010 prices declined by 5.3% year-on-year in the first quarter of 2020. The industry will contract even further in the next quarter, as most of the construction activities were temporarily halted in April and May, before the industry was allowed to resume operations in June. The declining building permits for both residential and non-residential buildings will weigh on the industry's output over the short and medium terms.
The industry's output value in real terms is forecast to contract by 14.3% in 2020. Over the remaining part of the forecast period, construction output is expected to register an average growth of 1% between 2021-2024, as fiscal sustainability remains the government's priority in the short term. Public and private sector investments on transport infrastructure and electricity projects will drive the industry's growth over the medium to long term. The June 2020 supplementary budget shows a sharp deterioration in the fiscal outlook for FY20/21 and beyond. In comparison to the projections in the February budget, the Treasury now expects the consolidated fiscal deficit to more than double from 6.8% to 15.7% of GDP for the current fiscal year.
This report provides detailed market analysis, information and insights into the South African construction industry, including:
The report provides a comprehensive analysis of the construction industry in South Africa. It provides:
Reasons to Buy
Key Topics Covered
1 Executive Summary
2 Construction Industry: At-a-Glance
3 Context
3.1. Economic Performance
3.2. Political Environment and Policy
3.3. Demographics
3.4. COVID-19 Status
4 Construction Outlook
4.1. All Construction
4.1.1. Outlook
4.1.2. Latest News and Developments
4.1.3. Construction Projects Momentum Index
4.2. Commercial Construction
4.3. Industrial Construction
4.4. Infrastructure Construction
4.5. Energy and Utilities Construction
4.6. Institutional Construction
4.7. Residential Construction
5 Key Industry Participants
5.1. Contractors
5.2. Consultants
6 Construction Market Data
For more information about this report visit https://www.researchandmarkets.com/r/urx7uj
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900