Nigeria Construction Market Summary, Competitive Analysis and Forecast to 2027

Key Highlights

• The construction market is defined as the value of work put in place annually for both, residential and non-residential construction.
• The Nigerian construction industry had total revenues of $144,515.1 million in 2022, representing a compound annual growth rate (CAGR) of 27.3% between 2017 and 2022.
• The non-residential construction segment accounted for the industry's largest proportion in 2022, with total revenues of $110,386 million, equivalent to 76.4% of the industry's overall value.
• According to in-house research, the proportion of construction in the GVA of Nigeria stood at 9.5% in 2021, up from 7.6% in 2020. However, in 2022, industry growth decelerated due to the conflict between Russia and Ukraine, which led to rising energy prices and disruptions in the supply chain of construction materials.

Scope

• Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the construction market in Nigeria
• Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the construction market in Nigeria
• Leading company profiles reveal details of key construction market players’ global operations and financial performance
• Add weight to presentations and pitches by understanding the future growth prospects of the Nigeria construction market with five year forecasts

Reasons to Buy

• What was the size of the Nigeria construction market by value in 2022?
• What will be the size of the Nigeria construction market in 2027?
• What factors are affecting the strength of competition in the Nigeria construction market?
• How has the market performed over the last five years?
• What are the main segments that make up Nigeria's construction market?