Bulgaria Infrastructure Report

Published 05 December 2014

  • 65 pages
  • Instant access to your report online and PDF format through your account library
  • Includes 3 free updated quarterly reports
 
$1,295.00
Bulgaria Infrastructure Report

BMI View: We currently forecast 1.7% real growth in Bulgaria's construction industry in 2015, following a moderate recovery in 2014, estimated at 0.6% real growth. Our view is supported by strong demand for infrastructure projects, EU financial support, and low base effects following an industry contraction of five consecutive years (2009-2013).

Key Trends And Developments

  • Driven by transport and energy infrastructure projects, we forecast Bulgaria's construction industry to growth by an average of 2.6% between 2016 and 2019. However, infrastructure projects will continue to face strong headwinds due to the lack of investor confidence and endemic corruption.

  • In terms of macroeconomic fundamentals, we expect the unemployment rate to decline in line with faster growth in 2014, presenting un upside risk for the residential construction sector.

  • 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.

  • Growth in Bulgaria's energy and utilities sector has been subdued due to increased fiscal constraints and a lack of consistent foreign competition and skills. The sector faces a slow path to recovery, but we believe the worst is over.

  • In the gas sector, Bulgaria is involved in Russia's South Stream pipeline. However, following the crisis in Ukraine and EU sanctions on Russia, construction of South Stream has been halted until it complies with European law, as stated by Bulgarian Prime Minister Plamen Oresharski in June 2014.

Table of Contents

BMI Industry View
7
SWOT
8
Infrastructure SWOT
8
Industry Forecast
10
Construction And Infrastructure Forecast Scenario
10
Industry Forecast
10
Table: Construction And Infrastructure Industry Data (Bulgaria 2012-2017)
10
Table: Construction And Infrastructure Industry Data (Bulgaria 2018-2023)
11
Transport Infrastructure - Outlook And Overview
17
Table: Transport Infrastructure Industry Data (Bulgaria 2012-2017)
17
Table: Transport Infrastructure Industry Data (Bulgaria 2018-2023)
18
Major Projects Table - Transport
23
Table: Major Projects Table - Transport
23
Energy And Utilities Infrastructure - Outlook And Overview
26
Table: Energy And Utilities Infrastructure Data (Bulgaria 2012-2017)
26
Table: Energy And Utilities Infrastructure Data (Bulgaria 2018-2023)
27
Major Projects Table - Energy & Utilities
31
Table: Major Projects Table - Energy And Utilities
31
Residential/NonResidential Building - Outlook And Overview
34
Table: Residential and Non-Residential Building Industry Data (Bulgaria 2012-2017)
34
Table: Residential and Non-Residential Building Industry Data (Bulgaria 2018-2023)
34
Industry Risk Reward Ratings
38
Bulgaria - Infrastructure Risk/Reward Ratings
38
Rewards
38
Risks
38
Central And Eastern Europe - Infrastructure Risk/Reward Ratings
39
Limited Access To Funding
43
Table: Central And Eastern Europe Risk Reward Ratings
45
Market Overview
46
Competitive Landscape
46
Table: EQS Table
47
Company Profile
48
Glavbolgarstroy
48
Mott MacDonald
50
Global Industry Overview
53
Global Infrastructure Overview
53
Methodology
59
Industry Forecast Methodology
59
Sector-Specific Methodology
60
Risk/Reward Rating Methodology
64
Sector-Specific Methodology
65
Table: Infrastructure Risk/Reward Rating Indicators
65
Table: Weighting Of Indicators
66

The Bulgaria Infrastructure Report features Business Monitor International (BMI)'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).

Coverage

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.

Sources

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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Testimonials

'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc