Belarus Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2024-2028

The publisher expects the Belarusian construction industry to grow by 2.5% in real terms in 2024, owing to improvement in construction activities, particular in the infrastructure, housing and institutional sectors. According to the National Statistical Committee of the Republic of Belarus (Belstat), the fixed capital investment in the country grew by 27.2% year-on-year (YoY) in the first eleven months of 2023. Additionally, the average construction contract activity as a percentage of the corresponding period of the previous year grew by 11.2% YoY in real terms in January-November 2023. The government approved its 2024 Budget in December 2023. The budget includes an expenditure of BYN44.7 billion ($15.8 billion) in 2024, which is an increase of 22.2% compared with the 2023 Budget expenditure; the latest budget is heavily focused on social spending, and also includes a set of measures aimed at housing construction and infrastructure development. The budget includes BYN2.8 billion ($1 billion) for social welfare, BYN2.5 billion ($877.3 million) for healthcare, and BYN1.9 billion ($665.9 million) for education. The 2024 Budget also contains an expenditure of BYN1.7 billion ($599 million) for financing the construction of subsidized housing. In the short term, however, a sustained decline in the total area of housing commissioning and the continued sanctions imposed by the European Union (EU) and major developed countries as a result of supporting Russia's invasion of Ukraine and facilitating human rights violations will weigh on the construction industry's output.

Over the remainder of the forecast period, the construction industry is expected to record an annual average growth of 3.9% between 2025 and 2028, supported by public and private investments in road networks and housing, coupled with the government's commitment to invest in the country's energy infrastructure. Under the National Infrastructure Plan for 2016-2030, the government outlined an investment of BYN37.4 billion ($14.5 billion) in housing and utilities infrastructure, BYN37.2 billion ($14.4 billion) in transport infrastructure, and BYN5.4 billion ($2.1 billion) in energy infrastructure. In another development, the Ministry of Transport and Communications is undertaking the construction of the M-10 highway. This project includes the construction of four-lane roads from Selishche to Gomel to Kobrin and is expected to commence by the first quarter of 2025 and conclude by 2027.

The Construction in Belarus - Country Briefing (H1 2024) report provides detailed market analysis, information, and insights into the Belarusian construction industry, including -

• The Belarusian construction industry's growth prospects by market, project type and construction activity
• Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in the Belarusian construction industry
• Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.

Scope

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

• Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in Belarus, 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 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.