Dominican Republic Construction Industry Report 2022: Market was Valued at $25.3 Billion in 2021 and is Projected to Grow at an AAGR of 3% During 2023-2026 - ResearchAndMarkets.com

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DUBLIN, May 19, 2022--(BUSINESS WIRE)--The "Dominican Republic Construction Market Size, Trends and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026" report has been added to ResearchAndMarkets.com's offering.

The Dominican Republic construction market size was valued at $25.3 billion in 2021. The market is projected to grow at an AAGR of more than 3% during the period 2023-2026.

This growth will be supported by developments in infrastructure, energy and utilities, and residential construction.

The Dominican Republic construction market report provides detailed market analysis, information, and insights into the Dominican Republic construction industry, including the industry's growth prospects by market, project type, and construction activity.

Furthermore, it provides critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in the Dominican Republic construction industry. It gives an analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.

What are the key sectors in the Dominican Republic construction market?

The key sectors in the Dominican Republic construction market are commercial construction, industrial construction, infrastructure construction, energy and utilities construction, institutional construction, and residential construction.

Commercial construction market in the Dominican Republic

The growth in the commercial construction sector will be supported by the recovery in the tourism and retail sector. The government's efforts to raise investment in commercial buildings are expected to support growth over the next five years.

Industrial construction market in the Dominican Republic

The industrial construction sector is expected to grow supported by an increase in manufacturing and export activities. As the domestic economy gathers momentum and lockdown restrictions are eased, sentiment among businesses and consumers will continue to strengthen, providing a further boost to the sector in the coming quarters.

Infrastructure construction market in the Dominican Republic

The growth in this sector will be supported by government efforts to develop the country's transport systems. The plan allocated majority of the funds to be invested in the construction of the monorail and the cable car. Moreover, the Amber highway project will be developed under a public-private partnership (PPP) model. The project includes the construction of a tunnel section, overpasses, and bridges, as well as the installation of drainage systems, tolling technology, and lighting.

Energy and utilities construction market in the Dominican Republic

The sector's outlook remains bright for the next five years, supported by the government's commitment towards increasing the production of renewable energy, mainly solar and wind power. The government plans to accelerate rapidly the expansion of wind and solar power and turn the country carbon-neutral by 2050.

Institutional construction market in the Dominican Republic

The sector's output over the forecast period will be supported by investment in educational, research, and healthcare buildings, as the government plans to increase budgetary allocation for the education and healthcare sector.

Residential construction market in the Dominican Republic

The growth in this sector will be supported by the government's focus on housing development across the country. Demand for new housing is expected to grow in the short and medium-term, driven by a low mortgage rate across the country. The rising population and ongoing urbanization are also expected to increase the demand for residential construction over the forecast period.

What are the key construction stages in the Dominican Republic construction market?

The key construction stages in the Dominican Republic construction market are pre-planning, planning, pre-execution, and execution. The pipeline is skewed towards late-stage projects.

This report provides:

  • Historical and forecast valuations of the construction industry in the Dominican Republic, 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.

  • Listings of major projects, in addition to details of leading contractors and consultants.

Key Topics Covered:

  1. Construction Outlook

  2. Construction Industry: At-a-Glance

  3. Latest News and Developments

  4. Project Analytics

  5. Construction Market Data

  6. Risk Profile

For more information about this report visit https://www.researchandmarkets.com/r/bstkvl

View source version on businesswire.com: https://www.businesswire.com/news/home/20220519005846/en/

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