Iraq Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2027
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Iraq Construction Market Report Overview
The Iraq construction market size was $9.1 billion in 2022. The market is projected to achieve an AAGR of more than 4% during 2024-2027. The industry’s output over the forecast period will be supported by investments in electricity, transport, and real estate projects.
Iraq Construction Market Outlook, 2022-2027 ($ Billion)
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The Iraq 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 Iraq from pre-planning to execution, along with the emerging market trends. In addition, the report gives an overview of the latest developments in the Iraq construction market.
Market Size (2022) | $9.1 billion |
AAGR (2024-2027) | >4% |
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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Iraq Construction Market Segmentation by Sectors
Residential construction was the leading sector in the Iraq construction market in 2022
The key sectors in the Iraq 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 public and private investment in road, railway, port, and airport projects, to expand the country’s networks.
Residential construction: The project types in this sector include single-family housing and multi-family housing. Rising urbanization and population and ongoing recovery in real estate activities are expected to support the sector’s growth during the forecast period. Furthermore, the government’s focus on providing social and affordable homes in the country will drive the growth.
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 oil and gas sector, coupled with public and private investment, in the renewable energy sector.
Commercial construction: The project types in this sector include leisure and hospitality buildings, office buildings, outdoor leisure facilities, retail buildings, and other commercial construction. Growing investments in the leisure and hospitality industry, office buildings, and sports and cultural development complex will drive the sector’s growth over the forecast period.
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. Increased investment across industrial and manufacturing activities, as well as positive developments in domestic and regional economic conditions, 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, education, and government administrative building projects will facilitate the sector’s growth during the forecast period.
Iraq Construction Market Analysis by Sectors, 2022 (%)
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Iraq Construction Market – Latest Developments
- In July 2023, Iraq-based real estate developing company Amwaj International commenced the construction works on the IQD551.3 billion ($420 million) housing project at Karbala Gate. The project involves the construction of 796 villas at Karbala Gate to accommodate a steady rise in its population at Karbala.
- In November 2023, the Ministry of Transport announced that the country is planning to build 30 railway stations in the Middle Eastern region of Iraq. This construction is a part of IQD22.3 billion ($17 billion) railway and road project connecting Southern Faw Port to the northern border of Turkey.
Segments Covered in the Report
Iraq 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 Iraq.
- Historical and forecast valuations of the construction industry in Iraq, 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 Iraq construction market size in 2022?
The construction market size in Iraq was $9.1 billion in 2022.
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What will the Iraq construction market growth rate be during the forecast period?
The construction market in Iraq is projected to achieve an AAGR of more than 4% during 2024-2027.
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Which was the leading sector in the Iraq construction market in 2022?
Residential construction was the leading sector in the Iraq construction market in 2022.
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What are the factors driving residential construction in the Iraq construction market?
Rising urbanization, population, and ongoing recovery in real estate activities coupled with the government’s focus on providing social and affordable homes in the country will drive the residential sector’s growth over the forecast period.
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