Ukraine Construction Market Size, Trends and Forecast by Sector – Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Construction, 2020-2025

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The construction market output in Ukraine was valued at $23.7 billion in 2020 and is forecast to record a growth of more than 2% in 2021, driven by continued investment to improve country’s infrastructure, coupled with increased spending in health and education sector. Infrastructure construction represented the largest sector in Ukraine’s construction market in 2020, followed by energy & utilities, residential, commercial, industrial, and institutional.

The construction industry is expected to register an annual average growth of more than 8% during 2022-2025, supported by the government’s investment on the development of transport infrastructure, energy and utilities and industrial construction projects. In the 2022 state budget, a record UAH141.8 billion ($5.1 billion) has been allocated for the development of infrastructure.

Overview of construction market in Ukraine

Overview of construction market in Ukraine

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What are the construction market dynamics in Ukraine?

The government revealed plans to double Ukraine’s GDP over the next 10 years. For this, Ukraine expects to receive almost UAH181.7 billion ($6.5 billion) in investments in infrastructure in the coming years, which will be based on public-private partnerships and thereby support the construction industry over the forecast period. However, a recent global surge in virus cases in early November 2021 and subsequent restrictions is expected to weigh on the industry’s output in the remainder of 2021 and early 2022.

Construction market in Eastern Europe, construction output (% change), 2020

Construction market in Eastern Europe, construction output (% change), 2020

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The Board of Directors of the European Bank for Reconstruction and Development (EBRD) approved a UAH6.5 billion ($231.2 million) loan in December 2021 to enhance the country’s road infrastructure. The loan will finance the upgradation of the M-05 Kyiv-Odesa road in the Kirovohrad, Odesa and Mykolaiv regions. According to the EBRD, the approval of the new tranche comes after efforts by Ukravtodor to review its governance systems, with a view to advancing reforms. In addition, Ukravtodor has prepared an e-mobility action plan to support electric-vehicle deployment in the country and is also establishing a Road Safety Department.

What are the sector classifications in Ukraine’s construction market?

Commercial construction: The commercial construction sector is expected to be supported by gradual improvement in the tourism, hospitality, and retail sector, although will remain weak compared to pre-pandemic levels. During the forecast period, the growth is supported by the government’s focus to build large scale data centers across the country.

Industrial construction: Industrial construction is expected to recover over the remainder of the forecast period, supported the government’s focus on attracting foreign investors through the development of industrial parks across the country. In July 2021, the government announced plans to build 25 state-funded industrial parks over the next three years.

Infrastructure construction: GlobalData expects infrastructure sector output to increase by 4.4% in 2021 and expand at an annual average of 9.8% over the remainder of the forecast period (2022–2025). There is a need for an upgrade in road and rail infrastructure for freight transport, given the increasing demand.

Energy and utilities construction: The sector is expected to record a growth over the forecast period, supported by the government’s focus to increase its nuclear capacity and the share of renewable energy sources in the total energy requirement to 25% by 2035. In September 2021, the Ukrainian nuclear operator Energoatom and the US vendor Westinghouse announced a strategic cooperation to build five new nuclear reactors in the country by 2035.

Institutional construction: The sector’s growth over the forecast period will be driven by increased spending by the government towards health and education sector. In the 2022 State Budget, the government increased its spending on the healthcare sector by 24.9%, increasing from UAH157.9 billion ($5.6 billion) in 2021 to UAH197.2 billion ($7.1 billion) in 2022.

Residential construction: The sector is expected to continue to rise in real terms over the forecast period, driven by increased demand in comfort-class properties to deliver a gradual improvement in living conditions for households. There are several major projects in the pipeline that will support the sector’s output over the forecast period.

Construction market in Ukraine, by sector

Construction market in Ukraine, by sector

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Market report scope

Market size (Year – 2020) $23.7 billion
Growth rate CAGR of >8% from 2022 to 2025
Base year for estimation 2020
Segmentation by sector Commercial, industrial, infrastructure, energy and utilities, institutional, and residential.

This report provides a comprehensive analysis of the construction market in Ukraine. It provides:

  • Historical (2016-2020) and forecast (2021-2025) valuations of the construction market in Ukraine, featuring details of key growth drivers.
  • Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) 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.

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 of Contents

1. Construction Outlook

2. Construction Industry: At-a-Glance

3. Latest News and Developments

4. Project Analytics

5. Construction Market Data

6. Risk Profile

7. About GlobalData

7.1 Definitions

7.2 CRI Methodology

Table

List of Tables

Table 1: Construction Industry Key Data

Table 2: Ukraine, Top Construction Projects by Value

Table 3: Ukraine, Construction Output Value (Real, US$ Million)

Table 4: Ukraine, Construction Output Value (Nominal, UAH Billion)

Table 5: GlobalData Construction Market Definitions

Table 6: Risk Dimensions

Table 7: Ratings, Scores and Definitions

Figures

List of Figures

Figure 1: Ukraine, Construction Output Value (Real, US$ Million, 2017 Prices and Exchange Rate), 2016-2025

Figure 2: Ukraine, Construction Output Value, by Sector (Real, US$ Million), 2016-2025

Figure 3: Eastern Europe, Construction Output (Real % Change), 2020 and 2021

Figure 4: Ukraine, Construction Projects Pipeline by Sector (US$ Million)

Figure 5: Ukraine, Construction Value Add, % Change YoY (At 2016 Constant Prices)

Figure 6: Ukraine, Total Gross Fixed Capital Formation, % Change YoY (At 2016 Constant Prices)

Figure 7: Ukraine, Construction Price Index, % Change YoY

Figure 8: Ukraine, Construction Production Index, % Change YoY

Figure 9: Ukraine, Real Estate Activities Value Add, % Change YoY (At 2016 Constant Prices)

Figure 10: Ukraine, Total Area of Residential Buildings Started (In Thousands, m2)

Figure 11: Ukraine, House Price Index, % Change YoY

Figure 12: Ukraine, Manufacturing Value Add, % Change YoY (At 2016 Constant Prices)

Figure 13: Ukraine, Total Value of Goods Exports (US$ Million)

Figure 14: Wholesale and Retail Trade Value Add, % Change YoY (At 2016 Constant Prices)

Figure 15: Ukraine, Accommodation and Food Service Activities Value Add, % Change YoY (At 2016 Constant Prices)

Figure 16: Ukraine, Construction Projects Pipeline, Value by Stage (US$ Million)

Figure 17: Ukraine, Risk Summary

Figure 18: Ukraine, Risk Regional Comparison

Frequently asked questions

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