Iran Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2027
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Iran Construction Market Report Overview
The Iran construction market size was valued at $181.5 billion in 2022. The market is projected to achieve an AAGR of more than 3% during 2024-2027. The industry’s output over the forecast period will be supported by investments in electricity, transport, and real estate projects.
Iran Construction Market Outlook, 2022-2027 ($ Billion)
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The Iran construction market report has compiled data on various project types and construction activities across sectors. While discussing the construction projects, our analysts have elucidated the factors responsible for the developments. The report further analyzes the top construction projects in Iran from pre-planning to execution, along with the emerging market trends. In addition, the report gives an overview of the latest developments in the Iran construction market.
Market Size (2022) | $181.5 billion |
AAGR (2024-2027) | >3% |
Forecast Period | 2023-2027 |
Historical Period | 2018-2022 |
Key Sectors | · Commercial Construction
· Industrial Construction · Infrastructure Construction · Energy and Utilities Construction · Institutional Construction · Residential Construction |
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Iran Construction Market Segmentation by Sectors
Residential construction was the leading sector in the Iran construction market in 2022
The key sectors in the Iran construction market are commercial construction, industrial construction, infrastructure construction, energy and utilities construction, institutional construction, and residential construction. In 2022, the residential construction sector accounted for the highest market share, followed by infrastructure construction.
Infrastructure construction: The project types in this sector include rail infrastructure, road infrastructure, and other infrastructure projects. The sector output will be supported by foreign investment in rail and port development projects and improvement in regional political and economic convergence with neighboring countries.
Residential construction: The project types in this sector include single-family housing and multi-family housing. Over the remainder of the forecast period, between 2025 and 2027, the residential construction sector’s output is expected to register an annual average growth of more than 3%, owing to the government’s plan to build four million housing units under the National Housing Movement between 2022 and 2026. For instance, in October 2023, Bank Melli Iran (BMI), a national and commercial retail bank of Iran signed two agreements with the Ministry of Transport and Urban Development and Housing Foundation to participate in the National Housing Movement Plan.
Commercial construction: A rise in tourist arrivals along with improvements in leisure, hospitality, and retail activities will drive the sector’s growth over the forecast period. The major project types in this sector include leisure and hospitality buildings, office buildings, outdoor leisure facilities, retail buildings, and other commercial construction.
Energy and utilities construction: The project types in this sector include electricity and power, oil and gas, telecommunications, sewage infrastructure, and water infrastructure. The sector’s growth over the forecast period is attributed to investments in the renewable, oil and gas sector. For instance, according to the Organization of the Petroleum Exporting Countries (OPEC), the oil production in Iran reached more than 2 million barrels per day (bpd) in the third quarter of 2023.
Industrial construction: The project types in this sector include chemical and pharmaceutical plants, manufacturing plants, metal and material production and processing plants, and waste processing plants. An increase in oil and mineral exports and investments in the non-oil sectors, such as manufacturing and agriculture, will boost the sector’s growth during the forecast period.
Institutional construction: The project types in this sector include educational buildings, healthcare buildings, institutional buildings, research facilities, and religious buildings. Rising investment in healthcare and education infrastructure development will facilitate the sector’s growth during the forecast period.
Iran Construction Market Analysis by Sectors, 2022 (%)
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Iran Construction Market – Latest Developments
- In October 2023, a memorandum of understanding (MoU) was signed between the National Development Fund (NDF) of Iran and the Renewable Energy and Energy Efficiency Organization (SATBA) to finance the construction of around IRR287.9 trillion ($5 billion) worth of renewable power plant projects in the country by 2026.
- During the same time, Bank Melli Iran (BMI), a national and commercial retail bank of Iran signed two agreements with the Ministry of Transport and Urban Development and Housing Foundation to participate in the National Housing Movement
Segments Covered in the Report
Iran Construction Sectors Outlook (Value, $ Billion, 2018-2027)
- Commercial Construction
- Industrial Construction
- Infrastructure Construction
- Energy and Utilities Construction
- Institutional Construction
- Residential Construction
Scope
This report provides:
- A comprehensive analysis of the construction industry in Iran.
- Historical and forecast valuations of the construction industry in Iran, featuring details of key growth drivers.
- Segmentation by sector 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 GlobalData’s 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 GlobalData’s critical and actionable insight.
- Assess business risks, including cost, regulatory, and competitive pressures.
- Evaluate competitive risk and success factors.
Table of Contents
Table
Figures
Frequently asked questions
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What was the Iran construction market size in 2022?
The construction market size in Iran was $181.5 billion in 2022.
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What will the Iran construction market growth rate be during the forecast period?
The construction market in Iran is projected to achieve an AAGR of more than 3% during 2024-2027.
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Which was the leading sector in the Iran construction market in 2022?
Energy & uilities construction was the leading sector in the Iran construction market in 2022.
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What are the factors driving the energy & utilities construction in the Iran construction market?
The sector’s growth over the forecast period is attributed to investments in the renewable, oil and gas sector.
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