DUBLIN–(BUSINESS WIRE)–The “Kazakhstan Construction Market Size, Trends and Forecasts by Sector – Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026” report has been added to ResearchAndMarkets.com’s offering.
Following an annual growth of 10% in 2020, Kazakhstan’s construction industry expanded by 7.6% in 2021, supported by the lifting of lockdown measures and the government’s expansionary policy measures. According to the Agency for Strategic Planning and Reforms, the volume of construction works grew by 11.4% in 2021, compared to growth of 11.3% in 2020.
The publisher expects the industry to expand by 6.7% in real terms this year, before registering an average annual growth of 5.6% between 2023 and 2026, supported by government investment in infrastructure, residential and renewable energy projects.
In October 2021, the government announced its plans to invest KZT27.8 trillion ($650 billion) in low-carbon technologies to achieve its ambitious goal of carbon neutrality by 2060. Kazakhstan set an ambitious target to increase the share of renewable energy in the total energy mix to 15% by 2030, from the 3% installed as of 2020.
The industry’s output over the forecast period will also be supported by investment under the Nurly Zhol State Infrastructure Development Program between 2020-25, under which the government aims to create efficient and competitive transport infrastructure, improve the technological and institutional environment, and develop transit and transportation services across Kazakhstan. In October 2021, the government pledged to improve 95% of local roads by 2025.
In 2021, the total investment for local roads amounted to KZT301 billion ($707 million), including KZT163 billion ($382.8 million) for regional and district roads and KZT138 billion ($324.1 million) for cities of national significance. In 2022, construction and reconstruction works are scheduled to cover 3,800km of road.
In the short term, the political unrest and protests against the government owing to high fuel prices may affect the industry’s forecast period growth. The ongoing Russia-Ukraine crisis and its impact on the prices of oil and other commodities also represent major downside risks to the industry’s short-term outlook.
As Kazakhstan borders Russia, uncertainty surrounding the war is likely to weigh on investor confidence, as the country risks being pulled into the conflict if a severe escalation occurs.
Scope
Reasons to Buy
Key Topics Covered:
1. Construction Outlook
2. Construction Industry: At-a-Glance
3. Latest News and Developments
4. Project Analytics
5. Construction Market Data
6. Risk Profile
For more information about this report visit https://www.researchandmarkets.com/r/ec1un1
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