Bulgaria Infrastructure Report

Published 04 September 2015

  • 64 pages
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  • Includes 3 free updated quarterly reports
Bulgaria Infrastructure Report

BMI View: We maintain our view that Bulgaria's construction industry will growth by 1.3% and 1.4% in 2015 and 2016, respectively, supported by the transport infrastructure sector, particularly projects in the road and railway subsectors. Although Bulgaria will continue to be highly dependent on EU funding for infrastructure development , we have started to note increased international interest in this market.

Key Trends And Developments

  • Driven by transport infrastructure projects, we forecast Bulgaria's construction industry to growth by an average of 2.1% between 2016-2020. However, infrastructure projects will continue to face challenges in securing financing.

  • Bulgaria remains highly dependent on EU funding for infrastructure projects, particularly in the transport sector. As such, slow EU recovery will limit the speed of Bulgaria's transport infrastructure growth.

  • Improved absorption of EU structural funding will help with public investment projects to a certain extent, but will not be sufficient to bring about a broad-based recovery in gross fixed capital formation growth in Bulgaria.

  • Growth in Bulgaria's energy and utilities sector has been subdued due to fiscal constraints and a lack of consistent foreign competition and skills. The sector faces a slow path to recovery, particularly now that construction of the South Stream pipeline has been cancelled.

  • We do not expect investment in renewable energy infrastructure to increase in the coming years given that the Bulgarian government decided to terminate incentives for new renewable energy capacity in March 2015.

  • The outlook for the residential sector is not positive. The housing market remains extremely weak following a collapse in prices since 2008, and the high levels of indebtedness will act as a headwind to future investment.

BMI Industry View
Infrastructure SWOT
Industry Forecast
Construction And Infrastructure Forecast Scenario
Industry Forecast
Table: Construction And Infrastructure Industry Data (Bulgaria 2013-2018)
Table: Construction And Infrastructure Industry Data (Bulgaria 2019-2024)
Transport Infrastructure - Outlook And Overview
Table: Transport Infrastructure Industry Data (Bulgaria 2013-2018)
Table: Transport Infrastructure Industry Data (Bulgaria 2019-2024)
Table: Key Projects: Transport
Energy And Utilities Infrastructure - Outlook And Overview
Table: Energy And Utilities Infrastructure Data (Bulgaria 2013-2018)
Table: Energy And Utilities Infrastructure Data (Bulgaria 2019-2024)
Table: Key Projects: Energy And Utilities
Residential/NonResidential Building - Outlook And Overview
Table: Residential And Non-Residential Building Industry Data (Bulgaria 2013-2018)
Table: Residential And Non-Residential Building Industry Data (Bulgaria 2019-2024)
Industry Risk Reward Index
Bulgaria - Infrastructure Risk/Reward Index
CEE Infrastructure RRI: EU Support Key For Rewards
Market Overview
Competitive Landscape
Table: EQS Table
Company Profile
Mott MacDonald
Global Industry Overview
Table: Infrastructure Key Themes 2015
Table: Asia: Key Reforms
Industry Forecast Methodology
Sector-Specific Methodology
Risk/Reward Index Methodology
Sector-Specific Methodology
Table: Infrastructure Risk/Reward Index Indicators
Table: Weighting Of Indicators

The Bulgaria Infrastructure Report features BMI Research's market assessment and forecasts covering public procurement and spending on all major infrastructure and construction projects, including transportation and logistics by land, sea and air; power plants and utilities, and commercial construction and property development. The report analyses the impact of regulatory changes and the macroeconomic outlook and features competitive intelligence on contractors and suppliers.

BMI's Bulgaria Infrastructure Report provides industry professionals and strategists, sector analysts, investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the Bulgarian infrastructure and construction industry.

Key Benefits

  • Benchmark BMI's independent infrastructure industry forecasts for Bulgaria to test other views - a key input for successful budgetary and planning in the Bulgarian infrastructure market.
  • Target business opportunities and risks in the Bulgarian infrastructure sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Bulgaria.
  • Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity).


BMI Industry View

Summary of BMI’s key industry forecasts, views and trend analysis covering infrastructure and construction, regulatory changes, major investments and projects and significant national and multinational company developments. These are broken down into construction (social, commercial and residential), transport (roads, railways, ports, airports, etc), and energy & utilities (powerplants, pipelines and so on).

Industry SWOT Analysis

Analysis of the major strengths, weaknesses, opportunities and threats within the infrastructure and construction sectors and within the broader political, economic and business environment.

BMI Industry Forecasts

Historic data series (up to 2012) and forecasts to end-2024 for all key industry indicators, supported by explicit assumptions, plus analysis of key developments in the market and risks to the main forecasts. Indicators include:

Construction: Industry value (USDbn); contribution to GDP (%); total capital investment (USDbn); real growth (%).

Construction industry real growth forecasts (%) and industry value (USDbn) forecasts for industry sectors are split into Residential and Non-residential and Infrastructure sectors. Where the data is available for particular countries the infrastructure is further broken down into indicators for the transport subsectors of roads, railways, airports and ports and the energy and utilities sub-sectors of power plants and transmission grids, oil & gas pipelines and water infrastructure. This dataset is unique to the market.

The reports also include analysis of latest projects across the infrastructure sectors (transport, utilities, commercial construction).

BMI’s Infrastructure Risk Reward Index

BMI’s Risk Reward Index provides investors (construction companies, suppliers and partners) looking for opportunities in the region with a clear country-comparative assessment of a market’s risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and  demographic data points. These provide indices of highest to lowest appeal to investors, with each position explained.

Market Overview

An assessment of the competitive landscape and key challenges to entering the market. Details of the largest companies active in the sector across the sub-segments of the industry, including the key financial figures from some of the largest players in the sector.

Company Profiles*

Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI’s industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape to generate company SWOT analyses. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.


The Infrastructure reports draw on an extensive network of primary sources, such as multilateral organisations, government departments, industry associations, chambers and company reports.

*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.

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