Ghana Construction Market Size, Trends and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026

GlobalData forecasts Ghana's construction industry to register growth of 3.8% in real terms in 2022, following an estimated expansion of 5.7% in 2021. The sector's output this year will be greatly aided by the restart of economic and infrastructure activities backed by the country's improved vaccination rates and declining Coronavirus (COVID-19) infection rates. According to the Energy Year Ghana 2022 report, the country is focused on strengthening all energy resources in the coming years, including a major downstream project of establishing a new petroleum hub corporation with an estimated investment of GHS364.4 billion ($60 billion), which is expected to begin construction in the second quarter of 2022.

The outlook for the construction industry in the early part of the forecast period is fraught with risks including rising inflationary pressures, currency fluctuations and interruptions in merchandise trade, all of which are projected to have an impact on consumer and investor confidence. The depreciation of the country's currency (Cedi) has had a significant impact on the industrial and energy sectors, even while production and exports are expanding. The Ghanaian cedi was the worst-performing currency among 15 top African currencies as of early March 2022, depreciating by 7.6% in the first two months of 2022. In addition, the country's producer price inflation climbed to 21.4% year on year (YoY) in February 2022 from 16.8% in January 2022, according to the Government Statistical Service (GSS).

Over the remainder of the forecast period, the construction industry is expected to register an annual average growth of 4.3% between 2023 and 2026, supported by the developments of transportation, energy, health, and industrial projects.

The report provides detailed market analysis, information, and insights into Ghana's construction industry, including -

• Ghana's 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 Ghana's construction industry
• Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.

Scope

This report provides a comprehensive analysis of the construction industry in Ghana. It provides -

• Historical (2017-2021) and forecast (2022-2026) valuations of the construction industry in Ghana, 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 GlobalData'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 GlobalData's critical and actionable insight.
• Assess business risks, including cost, regulatory and competitive pressures.
• Evaluate competitive risk and success factors.