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Market Research Report

Construction in Iraq - Key Trends and Opportunities to 2023

Published by GlobalData Product code 366056
Published Content info 47 Pages
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Construction in Iraq - Key Trends and Opportunities to 2023
Published: September 25, 2019 Content info: 47 Pages
Description

Following three years of contraction, Iraq's construction industry is expected to recover in 2019, with the industry's output expected to register a growth of 25% in real terms that year. The growth momentum is expected to continue throughout the forecast period (2019-2023), driven by a recovery in crude oil prices, coupled with government's investment towards new oil and gas projects, as well as water and sewage infrastructure. Furthermore, the government's plan to redevelop war-affected transport infrastructure and houses in the country is expected to support the industry's output over the forecast period.

In July 2019, the government allocated IQD2.6 trillion (US$2.2 billion) to redevelop the country's damaged infrastructure. Previously in 2018, the government announced plans to attract over IQD118.4 trillion (US$100 billion) by 2027 through foreign investment to redevelop the damaged energy and transport infrastructure across the country.

In real terms, the industry's output value is expected to post a forecast-period compound annual growth rate (CAGR) of 15.75%, compared to -25.89% during the review period (2014-2018). The industry is consequently expected to rise from a value of US$9.2 billion in 2018 to US$19.2 billion in 2023, measured at constant 2017 US dollar exchange rates.

There are, however, risks associated with the industry's outlook. If the oil prices do not rebound enough, the government's fiscal position will be challenging, and as such it will struggle to drive investment in infrastructure, and if the attack of terrorist groups in the northern and western province is prolonged, it will continue to damage investor confidence, and thus undermine growth prospects over the forecast period.

Accounting for 42.6% of the industry's total value in 2018, residential construction was the largest market in the industry during the review period. Forecast-period market growth is expected to be supported by rising need for houses in the ISIS-liberated regions of the country. Energy and utilities construction accounted for 18.58% of the industry's total output in 2018, followed by infrastructure construction with 18.57%, commercial construction with 10.5%, industrial construction with 6.3% and institutional construction with 3.5%.

The total construction project pipeline in Iraq including all mega projects with a value above US$25 million - stands at IQD251.4 trillion (US$211.6 billion). The pipeline, which includes all projects from pre-planning to execution, is heavily skewed to late-stage projects, with 81.5% of the pipeline value in the pre-execution and execution stages as of September 2019.

The report "Construction in Iraq - Key Trends and Opportunities to 2023" provides detailed market analysis, information and insights into the Iraqi construction industry, including -

  • Historical (2014-2018) and forecast (2019-2023) valuations of the construction industry in Iraq, 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

Furthermore, the report helps the user to -

  • Identify and evaluate market opportunities using 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 critical and actionable insight
  • Assess business risks, including cost, regulatory and competitive pressures
  • Evaluate competitive risk and success factors

Scope

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

  • Historical (2014-2018) and forecast (2019-2023) valuations of the construction industry in Iraq, 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.
Table of Contents
Product Code: GDCN0488MR

Table of Contents

  • 1 Executive Summary
  • 2 Construction Outlook: At-a-glance
  • 3 Latest News and Indicators
  • 4 Key Drivers and Risks
    • 4.1. Economic Performance
    • 4.2. Political Environment
    • 4.3. Demographics
    • 4.4. Risk Profile
  • 5 Construction Outlook
    • 5.1. All Construction
      • 5.1.1. Outlook
      • 5.1.2. Project analytics
    • 5.2. Commercial Construction
      • 5.2.1. Outlook
      • 5.2.2. Project analytics
    • 5.3. Industrial Construction
      • 5.3.1. Outlook
      • 5.3.2. Project analytics
    • 5.4. Infrastructure Construction
      • 5.4.1. Outlook
      • 5.4.2. Project analytics
    • 5.5. Energy and Utilities Construction
      • 5.5.1. Outlook
      • 5.5.2. Project analytics
    • 5.6. Institutional Construction
      • 5.6.1. Outlook
      • 5.6.2. Project analytics
    • 5.7. Residential Construction
      • 5.7.1. Outlook
      • 5.7.2. Project analytics
  • 6 Key Industry Participants
    • 6.1. Contractors
    • 6.2. Consultants
  • 7 Appendix
    • 7.1. What is this Report About?
    • 7.2. Definitions
  • 8 About GlobalData
    • 8.1. GlobalData at a Glance
    • 8.2. GlobalData Construction
    • 8.3. Disclaimer
    • 8.4. Contact Us

List of Tables

  • Table 1: Construction Outlook
  • Table 2: Iraq, Key Economic Indicators
  • Table 3: Iraq, Construction Output Value (nominal, IQD Billion)
  • Table 4: Iraq, Construction Output Value (nominal, US$ Million)
  • Table 5: Iraq, Top Commercial Construction Projects by Value
  • Table 6: Iraq, Top Industrial Construction Projects by Value
  • Table 7: Iraq, Top Infrastructure Construction Projects by Value
  • Table 8: Iraq, Top Energy and Utilities Construction Projects by Value
  • Table 9: Iraq, Top Institutional Construction Projects by Value
  • Table 10: Iraq, Top Residential and Mixed-Use Construction Projects by Value
  • Table 11: Iraq, Key Contractors
  • Table 12: Iraq, Key Consultants
  • Table 13: GlobalData Construction Market Definitions
  • Table 14: Construction Risk Index Ratings and Scores

List of Figures

  • Figure 1: Key Markets, Construction Output Growth Matrix and Risk Matrix
  • Figure 2: Iraq, Construction Projects Pipeline by Sector (IQD Trillion)
  • Figure 3: Iraq, Risk Profile
  • Figure 4: Iraq, Risk Comparison
  • Figure 5: Iraq, Construction Output Value (Real, US$ billion, 2017 prices and exchange rate)
  • Figure 6: Iraq, Construction Output Value, Growth Matrix
  • Figure 7: Iraq, Construction Output Value, by Sector (IQD Billion), 2014-2023
  • Figure 8: Iraq, Construction Projects Pipeline, Projected Annual Spending by Stage (IQD Billion), 2018-2023
  • Figure 9: Iraq, Construction Projects Pipeline, Value by Stage (IQD Billion)
  • Figure 10: Iraq, Commercial Construction Output by Project Type (IQD Billion), 2014-2023
  • Figure 11: Iraq, Commercial Construction Projects Pipeline, Value by Stage (IQD Billion)
  • Figure 12: Iraq, Commercial Construction Projects Pipeline, Projected Annual Spending by Stage (IQD Billion), 2018-2023
  • Figure 13: Iraq, Industrial Construction Output by Project Type (IQD Billion), 2014-2023
  • Figure 14: Iraq, Industrial Construction Projects Pipeline, Value by Stage (IQD Billion)
  • Figure 15: Iraq, Industrial Construction Projects Pipeline, Projected Annual Spending by Stage (IQD Billion), 2018-2023
  • Figure 16: Iraq, Infrastructure Construction Output by Project Type (IQD Billion), 2014-2023
  • Figure 17: Iraq, Infrastructure Construction Projects Pipeline, Value by Stage (IQD Billion)
  • Figure 18: Iraq, Infrastructure Construction Projects Pipeline, Projected Annual Spending by Stage (IQD Billion), 2018-2023
  • Figure 19: Iraq, Energy and Utilities Construction Output by Project Type (IQD Billion), 2014-2023
  • Figure 20: Iraq, Energy and Utilities Construction Projects Pipeline, Value by Stage (IQD Billion)
  • Figure 21: Iraq, Energy and Utilities Construction Projects Pipeline, Projected Annual Spending by Stage (IQD Billion), 2018-2023
  • Figure 22: Iraq, Institutional Construction Output by Project Type (IQD Billion), 2014-2023
  • Figure 23: Iraq, Institutional Construction Projects Pipeline, Value by Stage (IQD Billion)
  • Figure 24: Iraq, Institutional Construction Projects Pipeline, Projected Annual Spending by Stage (IQD Billion), 2018-2023
  • Figure 25: Iraq, Residential Construction Output by Project Type (IQD Billion), 2014-2023
  • Figure 26: Iraq, Residential Construction Projects Pipeline, Value by Stage (IQD Billion)
  • Figure 27: Iraq, Residential Construction Projects Pipeline, Projected Annual Spending by Stage (IQD Billion), 2018-2023
  • Figure 28: Iraq, Headquarters of Key Contractors (% of Total Project Pipeline)
  • Figure 29: Iraq, Headquarters of Foreign Contractors (% of Project Pipeline with Foreign Contractor)
  • Figure 30: Iraq, Headquarters of Key Consultants (% of Total Project Pipeline)
  • Figure 31: Iraq, Headquarters of Foreign Consultants (% of Project Pipeline with Foreign Consultants)
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