Market Research Report
Construction in Russia - Key Trends and Opportunities to 2024
|Published by||GlobalData||Product code||960775|
|Published||Content info||47 Pages
Delivery time: 1-2 business days
|Construction in Russia - Key Trends and Opportunities to 2024|
|Published: November 30, 2020||Content info: 47 Pages||
Prior to the Coronavirus (COVID-19) outbreak, the Russian construction industry registered minimal growth in 2019, with output expanding by 0.05% in real terms - down from growth of 2.5% in the previous year. The economic slowdown in the country, coupled with subdued consumer and business confidence, weakened growth in the sector.
The performance of the construction industry turned negative in 2020, amid the challenges presented by COVID-19, with the economy expected to contract in 2020. In the short term, construction activities in the country will be impacted by the restrictions imposed by the government to contain the spread of the virus. Downside risks for the construction industry not only include the worsening of the outbreak, but also declining oil prices. Major publicly funded construction projects could be delayed or cancelled.
Reflecting the disruptions caused by the pandemic, coupled with the weak outlook for economic growth, the construction industry is expected to shrink by 2% in 2020. GlobalData expects the construction industry to stabilize with an annual average growth rate of 2.6% between 2021 and 2024, supported by investments in the transport, renewable energy, telecommunication, and manufacturing sectors. The government had outlined plans in 2019 to spend RUB6.3 trillion (US$96 billion) on the development of the country's transport infrastructure over the next five years.
GlobalData's Construction in Russia - Key Trends and Opportunities to 2024 report provides detailed market analysis, information, and insights into the Russian construction industry, including -
This report provides a comprehensive analysis of the construction industry in Russia. It provides -