DUBLIN–(BUSINESS WIRE)–The “Iran Construction Market Size, Trends, and Forecasts by Sector – Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2028 (H1 2024)” report has been added to ResearchAndMarkets.com’s offering.
Iran’s construction industry is expected to expand by 2.8% in real terms in 2024, supported by an overall increase in gross fixed capital formation (GFCF), coupled with investment in energy, infrastructure, and oil and gas sectors.
According to the Central Bank of Iran, GFCF grew by 4.9% year-on-year (YoY) in 2023, preceded by an annual growth of 9% in 2022. According to the Ministry of Economy and Finance (MEF), the total national area under construction grew by 80% in 2023 to 13.3 million, while construction investment grew by 84% to IRR3 quadrillion ($5.4 billion) over the same period. In May 2024, the government announced that construction work on 1,000 kms of oil pipelines is expected to be completed by March 2025.
Moreover, in April 2024, the government reported that the construction work commenced on the IRR1.7 quadrillion ($3 billion) project to develop concrete borders adjacent to Afghanistan and Pakistan; the project is expected to be completed by 2027. Previously, the Ministry of Energy reported that as of February 2024, 61 energy construction projects were under construction collectively in northern Mazandaran Province and northeastern Khorasan Razavi Province. These include 30 substation projects, 26 transmission line projects, and 2 transmission station projects holding a combined value of IRR76.3 trillion ($138 million).
Over the remainder of the forecast period, between 2025 and 2028, output is expected to register an annual average growth of 3.7%, supported by investment in industrial, energy, transport, and housing sectors, coupled with the government’s efforts to boost output in oil and gas. Among recent developments, the government-owned oil and gas producer National Iranian Oil Company (NIOC) announced the drilling of 24 oil wells in the Yadavaran oil field, with an investment of IRR193.5 trillion ($350 million) that started in June 2024.
Additionally, in June 2023, the Ministry of Petroleum reported that it had signed two oil contracts with domestic developers, with a combined cost of IRR1.1 quadrillion ($2 billion). These projects include the construction of the Changouleh oil field in Ilam and the construction of the Band-Karkheh oil field in Khuzestan province. In another boost, in June 2024, the government launched the construction of 17 oil, refining, and petrochemical projects in 7 provinces, with a combined value of IRR2 quadrillion ($3.6 billion).
Scope
- Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in Iran, 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 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.
Key Topics Covered:
1 Executive Summary
2 Construction Industry: At-a-Glance
3 Latest news and developments
4 Project analytics
5 Construction Market Data
6 Risk Profile
7 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/rxlq10
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