Egypt's Construction Industry Growth and Energy Transition Outlook
Key Ideas
- Egypt's construction industry expected to grow by 5.8% in 2024, driven by investments in commercial, transportation, and energy projects.
- Government plans to increase oil production and invest in drilling exploratory wells to boost energy sector development.
- Construction output forecasted to grow at an annual average rate of 7.6% between 2025-2028, supported by investments in transport, power, housing, and hydrogen infrastructure projects.
- Initiatives like building a 10GW wind farm aim to increase renewable energy share to 40% of Egypt's electricity mix by 2040, reducing carbon emissions significantly.
The construction industry in Egypt is poised for growth, with a projected 5.8% increase in 2024, thanks to investments in various sectors. The government's focus on energy sector development includes plans to boost oil production and invest in drilling exploratory wells, aiming for significant growth. Between 2025 and 2028, the construction output is expected to grow annually by 7.6%, driven by investments in transport, power, housing, and hydrogen infrastructure projects. Notably, initiatives like the construction of a 10GW wind farm in West Suhag demonstrate Egypt's commitment to transitioning to renewable energy sources. This project aims to reduce carbon emissions by 9% annually by 2030, aligning with the government's target of reaching a 40% share of renewable energy in the electricity mix by 2040. Despite challenges such as geopolitical tensions and currency devaluation, the construction industry's positive outlook indicates opportunities for investors and stakeholders. ResearchAndMarkets.com offers valuable insights into Egypt's construction market, providing data on industry trends, market opportunities, and growth potential for interested parties.
Topics
Utilities
Renewable Energy
Market Analysis
Infrastructure Development
Investment Opportunities
Construction Industry
Egyptian Economy
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