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Construction in Bulgaria - Key Trends and Opportunities to 2020

Published: May 23, 2016 | Pages: 70 | Publisher: Timetric | Industry: Construction | Report Format: Electronic (PDF)

Synopsis

Bulgaria’s construction industry has been in decline since 2010. In real terms, the Bulgarian construction industry’s output contracted by 11.4% between 2010 and 2015. This decline can be attributed to the country’s high unemployment rate, economic slowdown, a large budget deficit, weak business confidence and consumer demand, and the eurozone’s depressed economic environment, leading to a fall in demand for the Bulgarian construction industry.

The industry’s value is expected to pick up over the forecast period (2016–2020). Investments in road, rail and transport infrastructure, as well as improvements in consumer and investor confidence, and in regional and global economic conditions, will support industry growth.

There are certain risks associated with Bulgaria’s construction industry outlook, most notably limited funding, fiscal constraints, the termination of incentives for new renewable energy and high dependence on European Union (EU) funds for infrastructure projects.

Infrastructure construction was the largest market in the Bulgarian construction industry during the review period, accounting for 47.1% of its total value in 2015. The market is expected to increase in importance over the forecast period, to account for 48.7% of the industry’s total value in 2020. The market will be supported by the government’s plans to improve the country’s transport infrastructure, such as the Transport and Transport Infrastructure 2014–2020 program. Various road infrastructure projects are expected to be completed over the forecast period.

Summary

Timetric’s Construction in Bulgaria – Key Trends and Opportunities to 2020 report provides detailed market analysis, information and insights into the Bulgarian construction industry, including:

- The Bulgarian construction industry's growth prospects by market, project type and construction activity
- Analysis of equipment, material and service costs for each project type in Bulgaria
- Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in the Bulgarian construction industry
- Profiles of the leading operators in the Bulgarian construction industry
- Data highlights of the largest construction projects in Bulgaria

Scope

This report provides a comprehensive analysis of the construction industry in Bulgaria. It provides:

- Historical (2011-2015) and forecast (2016-2020) valuations of the construction industry in Bulgaria using construction output and value-add methods
- Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by project type
- Breakdown of values within each project type, by type of activity (new construction, repair and maintenance, refurbishment and demolition) and by type of cost (materials, equipment and services)
- Analysis of key construction industry issues, including regulation, cost management, funding and pricing
- Detailed profiles of the leading construction companies in Bulgaria

Reasons To Buy

- Identify and evaluate market opportunities using Timetric'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 Timetric's critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.

Key Highlights

- The infrastructure construction market is expected to expand over the forecast period, driven by investments in road construction. The Bulgarian government approved the road infrastructure development strategy 2022 in September 2015 to develop, maintain and repair roads infrastructure across the country. The plan aims to develop a sustainable and efficient road network in the country and integrate it into the Trans-European transport system.
- According to the NSI, residential property prices increased in 2015, backed by growth in demand due to a decrease in unemployment, and improvements in business confidence and household income. The country’s annual average housing price index grew by 2.8% from 92.0 in 2014 to 94.5 in 2015. The house price index of new dwellings rose by 3.5% from 98.8 in 2014 to 102.2 in 2015, while the house price index of existing dwellings rose by 2.3% from 90.2 to 92.3 during the same period.
- In terms of buildings permits, there has been clear evidence of improvement in residential and non-residential construction, according to the latest data from the NSI. The total number of building permits issued in the country grew by 1.1%, increasing from 8,755 permits in 2014 to 8,849 permits in 2015. This was preceded by annual contractions of 2.2%, 4.2% and 9.7% in 2014, 2013 and 2012 respectively.
- According to the NSI, the total gross building area of new building starts grew by 38.2%, going from 2.2 million m2 in 2014 to 3.1 million m2 in 2015. Moreover, the total number of new residential building dwelling starts grew by 47.3% from 8,355 units in 2014 to 12,308 units in 2015, and the total floor area of new residential building starts grew by 53.8% over the same period.
- In June 2015, Bulgaria and Serbia signed an agreement to construct a gas pipeline between the two countries in a bid to increase the region’s energy security. The 150km-long gas pipeline will be constructed between Niš in Serbia and Dimitrovgrad in Bulgaria, with an annual capacity of 1.8 billion m3 of gas. The project is expected to complete by the end of 2018.
 Table of Content

1 Executive Summary

2 Industry Outlook
2.1 Commercial Construction
2.2 Industrial Construction
2.3 Infrastructure Construction
2.4 Energy and Utilities Construction
2.5 Institutional Construction
2.6 Residential Construction

3 Key Issues and Developments

4 Market Data Analysis
4.1 Construction Output and Value Add
4.1.1 Construction output by project type
4.1.2 Construction output by cost type
4.1.3 Construction output by activity type
4.1.4 Construction value add by project type
4.2 Commercial Construction
4.2.1 Commercial construction output by project type
4.2.2 Commercial construction output by cost type
4.2.3 Commercial construction output by activity type
4.2.4 Commercial construction value add by project type
4.3 Industrial Construction
4.3.1 Industrial construction output by project type
4.3.2 Industrial construction output by cost type
4.3.3 Industrial construction output by activity type
4.3.4 Industrial construction value add by project type
4.4 Infrastructure Construction
4.4.1 Infrastructure construction output by project type
4.4.2 Infrastructure construction output by cost type
4.4.3 Infrastructure construction output by activity type
4.4.4 Infrastructure construction value add by project type
4.5 Energy and Utilities Construction
4.5.1 Energy and utilities construction output by project type
4.5.2 Energy and utilities construction output by cost type
4.5.3 Energy and utilities construction output by activity type
4.5.4 Energy and utilities construction value add by project type
4.6 Institutional Construction
4.6.1 Institutional construction output by project type
4.6.2 Institutional construction output by cost type
4.6.3 Institutional construction output by activity type
4.6.4 Institutional construction value add by project type
4.7 Residential Construction
4.7.1 Residential construction output by project type
4.7.2 Residential construction output by cost type
4.7.3 Residential construction output by activity type
4.7.4 Residential construction value add by project type

5 Company Profile: Enemona AD Kozlodui
5.1 Enemona AD Kozlodui - Company Overview
5.2 Enemona AD Kozlodui - Business Description
5.3 Enemona AD Kozlodui - Main Services
5.4 Enemona AD Kozlodui - History
5.5 Enemona AD Kozlodui - Company Information
5.5.1 Enemona AD Kozlodui - key competitors
5.5.2 Enemona AD Kozlodui - key employees

6 Company Profile: Geotechmin OOD
6.1 Geotechmin OOD - Company Overview
6.2 Geotechmin OOD - Main Services
6.3 Geotechmin OOD - History
6.4 Geotechmin OOD - Company Information
6.4.1 Geotechmin OOD - key competitors
6.4.2 Geotechmin OOD - key employees

7 Company Profile: Transstroy-Burgas AD
7.1 Transstroy-Burgas AD - Company Overview
7.2 Transstroy-Burgas AD - Main Products and Services
7.3 Transstroy-Burgas AD - History
7.4 Transstroy-Burgas AD - Company Information
7.4.1 Transstroy-Burgas AD - key competitors
7.4.2 Transstroy-Burgas AD - key employees

8 Company Profile: Yavor PLC
8.1 Yavor PLC - Company Overview
8.2 Yavor PLC - Main Services
8.3 Yavor PLC - History
8.4 Yavor PLC - Company Information
8.4.1 Yavor PLC - key competitors
8.4.2 Yavor PLC - key employees

9 Company Profile: Glavbolgarstroy Holdings AD
9.1 Glavbolgarstroy Holdings AD - Company Overview
9.2 Glavbolgarstroy Holdings AD - Main Services
9.3 Glavbolgarstroy Holdings AD - History
9.4 Glavbolgarstroy Holdings AD - Company Information
9.4.1 Glavbolgarstroy Holdings AD - key competitors
9.4.2 Glavbolgarstroy Holdings AD - key employees

10 Appendix
10.1 What is this Report About?
10.2 Definitions
10.3 Methodology
10.4 Contact Timetric
10.5 About Timetric
10.6 Timetric’s Services
10.7 Disclaimer
List of Tables

Table 1: Bulgarian Construction Output by Project Type (BGN Million), 2011-2015
Table 2: Bulgarian Construction Output by Project Type (BGN Million), 2015-2020
Table 3: Bulgarian Construction Output by Cost Type (BGN Million), 2011-2015
Table 4: Bulgarian Construction Output by Cost Type (BGN Million), 2015-2020
Table 5: Bulgarian Construction Output by Activity Type (BGN Million), 2011-2015
Table 6: Bulgarian Construction Output by Activity Type (BGN Million), 2015-2020
Table 7: Bulgarian Construction Value Add by Project Type (BGN Million), 2011-2015
Table 8: Bulgarian Construction Value Add by Project Type (BGN Million), 2015-2020
Table 9: Bulgarian Commercial Construction Output by Project Type (BGN Million), 2011-2015
Table 10: Bulgarian Commercial Construction Output by Project Type (BGN Million), 2015-2020
Table 11: Bulgarian Commercial Construction Output by Cost Type (BGN Million), 2011-2015
Table 12: Bulgarian Commercial Construction Output by Cost Type (BGN Million), 2015-2020
Table 13: Bulgarian Commercial Construction Output by Activity Type (BGN Million), 2011-2015
Table 14: Bulgarian Commercial Construction Output by Activity Type (BGN Million), 2015-2020
Table 15: Bulgarian Commercial Construction Value Add by Project Type (BGN Million), 2011-2015
Table 16: Bulgarian Commercial Construction Value Add by Project Type (BGN Million), 2015-2020
Table 17: Bulgarian Industrial Construction Output by Project Type (BGN Million), 2011-2015
Table 18: Bulgarian Industrial Construction Output by Project Type (BGN Million), 2015-2020
Table 19: Bulgarian Industrial Construction Output by Cost Type (BGN Million), 2011-2015
Table 20: Bulgarian Industrial Construction Output by Cost Type (BGN Million), 2015-2020
Table 21: Bulgarian Industrial Construction Output by Activity Type (BGN Million), 2011-2015
Table 22: Bulgarian Industrial Construction Output by Activity Type (BGN Million), 2015-2020
Table 23: Bulgarian Industrial Construction Value Add by Project Type (BGN Million), 2011-2015
Table 24: Bulgarian Industrial Construction Value Add by Project Type (BGN Million), 2015-2020
Table 25: Bulgarian Infrastructure Construction Output by Project Type (BGN Million), 2011-2015
Table 26: Bulgarian Infrastructure Construction Output by Project Type (BGN Million), 2015-2020
Table 27: Bulgarian Infrastructure Construction Output by Cost Type (BGN Million), 2011-2015
Table 28: Bulgarian Infrastructure Construction Output by Cost Type (BGN Million), 2015-2020
Table 29: Bulgarian Infrastructure Construction Output by Activity Type (BGN Million), 2011-2015
Table 30: Bulgarian Infrastructure Construction Output by Activity Type (BGN Million), 2015-2020
Table 31: Bulgarian Infrastructure Construction Value Add by Project Type (BGN Million), 2011-2015
Table 32: Bulgarian Infrastructure Construction Value Add by Project Type (BGN Million), 2015-2020
Table 33: Bulgarian Energy and Utilities Construction Output by Project Type (BGN Million), 2011-2015
Table 34: Bulgarian Energy and Utilities Construction Output by Project Type (BGN Million), 2015-2020
Table 35: Bulgarian Energy and Utilities Construction Output by Cost Type (BGN Million), 2011-2015
Table 36: Bulgarian Energy and Utilities Construction Output by Cost Type (BGN Million), 2015-2020
Table 37: Bulgarian Energy and Utilities Construction Output by Activity Type (BGN Million), 2011-2015
Table 38: Bulgarian Energy and Utilities Construction Output by Activity Type (BGN Million), 2015-2020
Table 39: Bulgarian Energy and Utilities Construction Value Add by Project Type (BGN Million), 2011-2015
Table 40: Bulgarian Energy and Utilities Construction Value Add by Project Type (BGN Million), 2015-2020
Table 41: Bulgarian Institutional Construction Output by Project Type (BGN Million), 2011-2015
Table 42: Bulgarian Institutional Construction Output by Project Type (BGN Million), 2015-2020
Table 43: Bulgarian Institutional Construction Output by Cost Type (BGN Million), 2011-2015
Table 44: Bulgarian Institutional Construction Output by Cost Type (BGN Million), 2015-2020
Table 45: Bulgarian Institutional Construction Output by Activity Type (BGN Million), 2011-2015
Table 46: Bulgarian Institutional Construction Output by Activity Type (BGN Million), 2015-2020
Table 47: Bulgarian Institutional Construction Value Add by Project Type (BGN Million), 2011-2015
Table 48: Bulgarian Institutional Construction Value Add by Project Type (BGN Million), 2015-2020
Table 49: Bulgarian Residential Construction Output by Project Type (BGN Million), 2011-2015
Table 50: Bulgarian Residential Construction Output by Project Type (BGN Million), 2015-2020
Table 51: Bulgarian Residential Construction Output by Cost Type (BGN Million), 2011-2015
Table 52: Bulgarian Residential Construction Output by Cost Type (BGN Million), 2015-2020
Table 53: Bulgarian Residential Construction Output by Activity Type (BGN Million), 2011-2015
Table 54: Bulgarian Residential Construction Output by Activity Type (BGN Million), 2015-2020
Table 55: Bulgarian Residential Construction Value Add by Project Type (BGN Million), 2011-2015
Table 56: Bulgarian Residential Construction Value Add by Project Type (BGN Million), 2015-2020
Table 57: Enemona AD Kozlodui, Key Facts
Table 58: Enemona AD Kozlodui, Main Services
Table 59: Enemona AD Kozlodui, History
Table 60: Enemona AD Kozlodui, Key Employees
Table 61: Geotechmin OOD, Key Facts
Table 62: Geotechmin OOD, Main Services
Table 63: Geotechmin OOD, History
Table 64: Geotechmin OOD, Key Employees
Table 65: Transstroy-Burgas AD, Key Facts
Table 66: Transstroy-Burgas AD, Main Products and Services
Table 67: Transstroy-Burgas AD, History
Table 68: Transstroy-Burgas AD, Key Employees
Table 69: Yavor PLC, Key Facts
Table 70: Yavor PLC, Main Services
Table 71: Yavor PLC, History
Table 72: Yavor PLC, Key Employees
Table 73: Glavbolgarstroy Holdings AD, Key Facts
Table 74: Glavbolgarstroy Holdings AD, Main Services
Table 75: Glavbolgarstroy Holdings AD, History
Table 76: Glavbolgarstroy Holdings AD, Key Employees
Table 77: Timetric Construction Market Definitions 


List of Figures

Figure 1: Bulgarian Construction Output (Real US$ 2010, Million), 2011-2020
Figure 2: Growth Matrix for Construction Output in Bulgaria (US$ Million), 2011-2020
Figure 3: Bulgarian Construction Output by Project Type (BGN Million), 2011-2020
Figure 4: Bulgarian Construction Output by Cost Type (BGN Million), 2011-2020
Figure 5: Bulgarian Construction Output by Activity Type (BGN Million), 2011-2020
Figure 6: Bulgarian Construction Value Add by Project Type (BGN Million), 2011-2020
Figure 7: Bulgarian Commercial Construction Output by Project Type (BGN Million), 2011-2020
Figure 8: Bulgarian Commercial Construction Output by Cost Type (BGN Million), 2011-2020
Figure 9: Bulgarian Commercial Construction Output by Activity Type (BGN Million), 2011-2020
Figure 10: Bulgarian Commercial Construction Value Add by Project Type (BGN Million), 2011-2020
Figure 11: Bulgarian Industrial Construction Output by Project Type (BGN Million), 2011-2020
Figure 12: Bulgarian Industrial Construction Output by Cost Type (BGN Million), 2011-2020
Figure 13: Bulgarian Industrial Construction Output by Activity Type (BGN Million), 2011-2020
Figure 14: Bulgarian Industrial Construction Value Add by Project Type (BGN Million), 2011-2020
Figure 15: Bulgarian Infrastructure Construction Output by Project Type (BGN Million), 2011-2020
Figure 16: Bulgarian Infrastructure Construction Output by Cost Type (BGN Million), 2011-2020
Figure 17: Bulgarian Infrastructure Construction Output by Activity Type (BGN Million), 2011-2020
Figure 18: Bulgarian Infrastructure Construction Value Add by Project Type (BGN Million), 2011-2020
Figure 19: Bulgarian Energy and Utilities Construction Output by Project Type (BGN Million), 2011-2020
Figure 20: Bulgarian Energy and Utilities Construction Output by Cost Type (BGN Million), 2011-2020
Figure 21: Bulgarian Energy and Utilities Construction Output by Activity Type (BGN Million), 2011-2020
Figure 22: Bulgarian Energy and Utilities Construction Value Add by Project Type (BGN Million), 2011-2020
Figure 23: Bulgarian Institutional Construction Output by Project Type (BGN Million), 2011-2020
Figure 24: Bulgarian Institutional Construction Output by Cost Type (BGN Million), 2011-2020
Figure 25: Bulgarian Institutional Construction Output by Activity Type (BGN Million), 2011-2020
Figure 26: Bulgarian Institutional Construction Value Add by Project Type (BGN Million), 2011-2020
Figure 27: Bulgarian Residential Construction Output by Project Type (BGN Million), 2011-2020
Figure 28: Bulgarian Residential Construction Output by Cost Type (BGN Million), 2011-2020
Figure 29: Bulgarian Residential Construction Output by Activity Type (BGN Million), 2011-2020
Figure 30: Bulgarian Residential Construction Value Add by Project Type (BGN Million), 2011-2020

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