Azerbaijan Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2028
Powered by
All the vital news, analysis, and commentary curated by our industry experts.
Azerbaijan Construction Market Report Overview
The Azerbaijan construction market size was $10.8 billion in 2023 and will achieve an AAGR of more than 4% during 2025-2028. Public and private investments in transport infrastructure, renewable energy projects, and housing will drive the country’s construction sector growth during the forecast period.
Azerbaijan Construction Market Outlook, 2023-2028 ($ Billion)
Buy the Report to Get More Insights on the Azerbaijan Construction Market Outlook
The Azerbaijan construction market research report provides detailed market analysis, information, and insights into the Azerbaijan construction industry, including the industry’s growth prospects by market, project type, and construction activity. The report also delivers critical insight into the impact of industry trends and issues and an analysis of key risks and opportunities in the Azerbaijan construction industry. It also analyzes the mega-project pipeline, focusing on development stages, participants, and listings of major projects in the pipeline. The market report discusses the sectors in the construction market and provides an overview of each sector along with their driving factors.
Market Size (2023) | $10.8 billion |
AAGR (2025-2028) | >4% |
Forecast Period | 2023-2028 |
Historical Period | 2018-2023 |
Key Sectors | · Commercial Construction
· Industrial Construction · Infrastructure Construction · Energy and Utilities Construction · Institutional Construction · Residential Construction |
Enquire & Decide | Discover the perfect solution for your business needs. Enquire now and let us help you make an informed decision before making a purchase. |
Azerbaijan Construction Market Segmentation by Sectors
Infrastructure construction was the leading sector in the Azerbaijan construction market in 2023.
The key sectors in the Azerbaijan construction market are commercial construction, industrial construction, infrastructure construction, energy and utilities construction, institutional construction, and residential construction.
Commercial construction: The country’s target of attracting four million foreign tourists annually by 2026 and the increasing number of domestic tourist trips to six million by 2026 drive the sector’s growth during the forecast period.
Industrial construction: The government’s investment in industrial zones and manufacturing plants in the country will fuel the market growth during the forecast period.
Infrastructure construction: The government’s execution of road construction development plans will have a positive impact on the sector’s growth during 2023-2028.
Energy and utilities construction: An increase in oil and gas production and investments in renewable energy to increase the share of renewable power production capacity to 30% by 2030 will boost the sector’s growth during the forecast period.
Institutional construction: The investment in health and educational building projects will fuel the growth of the sector in the coming years. Major developments in the sector include the State Urban Planning and Architecture Committee of the Republic of Azerbaijan’s Fuzuli Memorial Complex and Victory Park on an area of 5ha at Fuzuli in Azerbaijan.
Residential construction: An increase in building material and land prices and high base effects foster the residential sector’s growth during the forecast period. According to the State Statistical Committee, the real-estate value added rose in the first three quarters of 2023.
Construction Market Analysis by Sectors, 2023 (%)
Buy the Report to Get More Insights into the Azerbaijan Construction Market Sector
Azerbaijan Construction Market – Latest Developments
- The State Housing Construction Agency commenced the construction activities of the Shirvan Residential Complex in Shirvan Residential Complex in September 2023.
- Nobel Energy, an Azerbaijan-based integrated services provider to the energy industry, intends to construct a solar power plant in the Jabrayil district.
Buy the Report to Get More Insights into the Azerbaijan Construction Market
Segments Covered in the Report
Azerbaijan 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 Azerbaijan.
- Historical and forecast valuations of the construction industry in Azerbaijan, 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.
Table of Contents
Table
Figures
Frequently asked questions
-
What was the Azerbaijan construction market size in 2023?
The construction market size in Azerbaijan was $10.8 billion in 2023.
-
What is the expected Azerbaijan construction market growth rate for the forecast period?
The construction market in Azerbaijan is projected to achieve an AAGR of more than 4% during the forecast period.
-
Which was the leading sector in the Azerbaijan construction market in 2023?
Infrastructure construction was the leading sector in the Azerbaijan construction market in 2023.
Get in touch to find out about multi-purchase discounts
reportstore@globaldata.com
Tel +44 20 7947 2745
Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.