Africa construction growth

A massive growth in construction is predicted for Sub-Saharan Africa. This comes from a report by the data and analytics company, GlobalData. Its report suggests that the region’s construction industry will grow at the fastest rate of any other world region over next five years. According to its report, the region’s construction sector will grow on average by a compound annual growth rate (CAGR) by 6.6% a year, from 2018 to 2022. The company’s latest report, ‘Global Construction Outlook to 2022: Q3 2018 Up
October 9, 2018 Read time: 2 mins
A massive growth in construction is predicted for Sub-Saharan Africa. This comes from a report by the data and analytics company, GlobalData. Its report suggests that the region’s construction industry will grow at the fastest rate of any other world region over next five years. According to its report, the region’s construction sector will grow on average by a compound annual growth rate (CAGR) by 6.6% a year, from 2018 to 2022.


The company’s latest report, ‘Global Construction Outlook to 2022: Q3 2018 Update’ also reveals that in real value terms*, total global construction output is forecast to rise to US$12.9 trillion by 2022, up from US$10.8 trillion in 2017.

Regionally, Africa will become a major player in global construction over the next five years. There will be a steady acceleration in construction activity in Nigeria over the forecast period to 2022, supported by government efforts to revitalize the economy, by focusing on developing the country’s infrastructure. However, Ethiopia will be Africa’s star performer, where its construction industry will continue to grow in line with the country’s economic expansion.

Finance & Funding

Related Content

  • Infrastructure expansion will boost world growth
    October 11, 2013
    A report published by HSBC suggests that global infrastructure-related trade growth will double worldwide economic expansion and will triple in size by 2030. The report also suggests that Brazil and Mexico will drive the rise in imports and exports of infrastructure-related goods in Latin America, according to Business News Americas. HSBC said that between 2013 and 2030, infrastructure-related trade looks set to grow at an average of 9%/year. It will also see a rise in its share of overall merchandise trade
    Read More
  • Italy’s construction market is growing
    November 18, 2019
    Investments in the construction sector continue to grow, driven by the resumption of public works.
    Read More
  • Construction machine sales strengthening in Italy
    November 28, 2016
    Construction machine sales are strengthening around the globe. A report from the SaMoTer-Veronafiere Outlook reveals that 7,551 construction machines were sold in Italy over the period from January-September 2016. This represents a gain of 32% from the same period in 2015 and a further increase of 37% is estimated in Italy for the two-year period 2017-2018. Worldwide the first nine months of 2016 saw sales around the world of 496,500 earth moving machines, a drop of around 5,000 less (1%) compared to th
    Read More
  • European equipment sales up 15% in 2017, according to the CECE
    June 15, 2018
    European construction sales grew by 15% in 2017, according to the Annual Economic Report 2018* from the CECE After a strong first quarter, growth slowed in Q2, before rising in Q3 and Q4, according to the CECE - Committee for European Construction Equipment. Current levels of sales are on par with the levels seen in 2006 and 2008, but the industry is still 20% below the 2007 peak.
    Read More

Highlighted Content