South Africa Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2027
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South Africa Construction Market Report Overview
The South Africa construction market size was $25.5 billion in 2022. The market is projected to achieve an AAGR of more than 3% during 2024-2027. The growth is attributed to investments in transport, energy, industrial, and housing projects. The government plans to increase the share of renewable energy in its total electricity mix from 11% in 2019 to 41% by 2030 and decommission 8-12GW of coal-fired power plants by the end of 2030.
South Africa Construction Market Outlook, 2022-2027 ($ Billion)
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The South Africa construction market research report offers a comprehensive understanding of project types and construction activities in the country. It analyzes the mega-project pipeline, focusing on development stages, participants, and listings of major projects in the pipeline. The market report further discusses the key sectors in the construction market and their growth drivers. Along with reviewing the details of the construction projects, our analysts have elaborated on emerging trends and assessed key risks and opportunities that will influence the South Africa construction market growth in the coming years.
Market Size (2022) | $25.5 billion |
AAGR (2024-2027) | >3% |
Forecast Period | 2023-2027 |
Historical Period | 2018-2022 |
Key Sectors | · Residential Construction
· Infrastructure Construction · Energy and Utilities Construction · Industrial Construction · Commercial Construction · Institutional Construction |
Key Contractors | · Wilson Bayly Holmes-Ovcon Ltd
· Stefanutti Stocks Holdings Ltd · Basil Read Pty Ltd · Roshcon · Balwin Properties Ltd |
Key Consultants | · Amandla Engineering Pty Ltd
· iX Engineers Pty Ltd · Incico SpA · ILISO Consulting (Pty) Ltd · GIBB (Pty) Ltd |
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South Africa Construction Market Segmentation by Sectors
Infrastructure construction was the leading sector in the South Africa construction market in 2022
The key sectors in the South Africa construction market are commercial construction, industrial construction, infrastructure construction, energy and utilities construction, institutional construction, and residential construction. In 2022, the infrastructure construction sector was followed by residential construction.
Infrastructure construction: The project types in this sector include rail infrastructure, road infrastructure, and other infrastructure projects. Investment to expand the country’s transport infrastructure networks will support the sector growth.
Residential construction: The project types in this sector include single-family housing and multi-family housing. The government’s focus on boosting the supply of social housing units will support the sector growth during the forecast period.
Energy and utilities construction: The project types in this sector include electricity and power, oil and gas, telecommunications, sewage infrastructure, and water infrastructure. Investments in long-term renewable energy projects and the government’s goal of increasing the share of renewable energy in its total electricity mix from 11% in 2019 to 41% by 2030 will drive the sector’s demand during the projected period.
Commercial construction: The project types in this sector include leisure and hospitality buildings, office buildings, outdoor leisure facilities, retail buildings, and other commercial construction. Developments in leisure and hospitality, office, data centre, and retail building projects will drive the commercial 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. Factors such as a gradual rebound in manufacturing and export activities, coupled with investments in the establishment of industrial parks, and the government’s focus on boosting the automotive industry will drive 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. Infrastructure developments in the healthcare and educational sectors will fuel the growth of this sector in the coming years.
South Africa Construction Market Analysis by Sectors, 2022 (%)
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South Africa Construction Market - Competitive Landscape
Wilson Bayly Holmes-Ovcon Ltd emerged as the leading contractor and Amandla Engineering Pty Ltd as the leading consultant in the South Africa construction market in 2022
A few of the leading contractors in the South Africa construction market are:
- Wilson Bayly Holmes-Ovcon Ltd
- Stefanutti Stocks Holdings Ltd
- Basil Read Pty Ltd
- Roshcon
- Balwin Properties Ltd
Domestic contractors account for most of the project pipeline in the South Africa construction market. Firms based in South Korea are the dominant contractors.
South Africa Construction Market Analysis by Contractors, 2022 (%)
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A few of the leading consultants in the South Africa construction market are:
- Amandla Engineering Pty Ltd
- iX Engineers Pty Ltd
- Incico SpA
- ILISO Consulting (Pty) Ltd
- GIBB (Pty) Ltd
Consultants with headquarters outside South Africa are involved in most of the project pipeline by value. Firms based in Japan are involved in the majority of the project pipeline.
South Africa Construction Market Analysis by Consultants, 2022 (%)
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South Africa Construction Market – Latest Developments
- In November 2023, Sanral commenced work to construct new roads and upgrade an interchange along a section of the N3.
- In November 2023, the South African National Roads Agency SOC Limited (Sanral) announced that it would re-advertise 86 road construction tenders, collectively valued at ZAR7.2 billion ($430.4million).
Segments Covered in the Report
South Africa 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 South Africa.
- Historical and forecast valuations of the construction industry in South Africa, 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.
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Frequently asked questions
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What was the South Africa construction market size in 2022?
The construction market size in South Africa was $25.5 billion in 2022.
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What will the South Africa construction market growth rate be during the forecast period?
The construction market in South Africa is projected to achieve an AAGR of more than 3% during 2024-2027.
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Which was the leading sector in the South Africa construction market in 2022?
Infrastructure construction was the leading sector in the South Africa construction market in 2022.
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Which are the leading contractors in the South Africa construction market?
The leading contractors in the South Africa construction market are Wilson Bayly Holmes-Ovcon Ltd, Stefanutti Stocks Holdings Ltd, Basil Read Pty Ltd, Roshcon, and Balwin Properties Ltd Ltd among others.
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Which are the leading consultants in the South Africa construction market?
The leading consultants in the South Africa construction market are Amandla Engineering Pty Ltd, iX Engineers Pty Ltd, Incico SpA, ILISO Consulting (Pty) Ltd, and GIBB (Pty) Ltd among others.
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