Summary
Construction in Nigeria industry profile provides top-line qualitative and quantitative summary information including: market size (value 2019-24, and forecast to 2029). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- Construction market includes both residential and non-residential construction. Market value refers to the total output value of construction activity in a specific year. Construction output value is defined as the total value of construction activity in any given period, including costs related to all materials, equipment, and services used.
- The Nigerian construction industry recorded revenues of $46.1 billion in 2024, representing a negative compound annual growth rate (CAGR) of 12.6% between 2019 and 2024.
- The non-residential segment accounted for the industry's largest proportion in 2024, with total revenues of $35.3 billion, equivalent to 76.5% of the industry's overall value.
- The Nigerian construction industry experienced a contraction in market value in 2024 when measured in US dollars, despite growth in local currency terms. The expansion of the Nigerian construction industry in 2024 in local currency terms was primarily influenced by the rapid urbanization, particularly in major cities such as Lagos, Abuja, and Port Harcourt. According to the World Bank, the proportion of urban population in Nigeria reached 55.0% in 2024, pressuring city planners to accelerate housing and transport development.
Scope
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the construction market in Nigeria
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the construction market in Nigeria
- Leading company profiles reveal details of key construction market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the Nigeria construction market with five year forecasts
Reasons to Buy
- What was the size of the Nigeria construction market by value in 2024?
- What will be the size of the Nigeria construction market in 2029?
- What factors are affecting the strength of competition in the Nigeria construction market?
- How has the market performed over the last five years?
- What are the main segments that make up Nigeria's construction market?
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Table of Contents
1 Executive Summary
1.1. Market value
1.2. Market value forecast
1.3. Category segmentation
1.4. Geography segmentation
1.5. Market rivalry
1.6. Competitive landscape
2 Market Overview
2.1. Market definition
2.2. Market analysis
3 Market Data
3.1. Market value
4 Market Segmentation
4.1. Category segmentation
4.2. Geography segmentation
5 Market Outlook
5.1. Market value forecast
6 Five Forces Analysis
6.1. Summary
6.2. Buyer power
6.3. Supplier power
6.4. New entrants
6.5. Threat of substitutes
6.6. Degree of rivalry
7 Competitive Landscape
7.1. Who are the leading players?
7.2. What strategies do the leading players follow?
7.3. What are the strengths of the leading players?
8 Company Profiles
8.1. Julius Berger Nigeria Plc
8.2. Setraco Nigeria Ltd
8.3. Costain West Africa Plc
8.4. Reynolds Construction Company (Nigeria) Ltd
9 Macroeconomic Indicators
9.1. Country data
10 Appendix
10.1. Methodology
10.2. Industry associations
10.3. Related MarketLine research
10.4. About MarketLine
List of Tables
Table 1: Nigeria construction industry value: $ million, 2019-24
Table 2: Nigeria construction industry category segmentation: % share, by value, 2019-24
Table 3: Nigeria construction industry category segmentation: $ million, 2019-24
Table 4: Nigeria construction industry geography segmentation: $ million, 2024
Table 5: Nigeria construction industry value forecast: $ million, 2024-29
Table 6: Julius Berger Nigeria Plc: Key Facts
Table 7: Julius Berger Nigeria Plc: Annual Financial Ratios
Table 8: Julius Berger Nigeria Plc: Key Employees
Table 9: Setraco Nigeria Ltd: Key Facts
Table 10: Setraco Nigeria Ltd: Key Employees
Table 11: Costain West Africa Plc: Key Facts
Table 12: Costain West Africa Plc: Key Employees
Table 13: Reynolds Construction Company (Nigeria) Ltd: Key Facts
Table 14: Reynolds Construction Company (Nigeria) Ltd: Key Employees
Table 15: Nigeria Size of Population (Million), 2020-24
Table 16: Nigeria Real GDP (Constant 2010 Prices, $ Billion), 2020-24
Table 17: Nigeria GDP (Current Prices, $ Billion), 2020-24
Table 18: Nigeria Inflation, 2020-24
Table 19: Nigeria Consumer Price Index (Absolute), 2020-24
Table 20: Nigeria Exchange Rate, 2019-24
List of Figures
Figure 1: Nigeria construction industry value: $ million, 2019-24
Figure 2: Nigeria construction industry category segmentation: $ million, 2019-24
Figure 3: Nigeria construction industry geography segmentation: % share, by value, 2024
Figure 4: Nigeria construction industry value forecast: $ million, 2024-29
Figure 5: Forces driving competition in the construction industry in Nigeria, 2024
Figure 6: Drivers of buyer power in the construction industry in Nigeria, 2024
Figure 7: Drivers of supplier power in the construction industry in Nigeria, 2024
Figure 8: Factors influencing the likelihood of new entrants in the construction industry in Nigeria, 2024
Figure 9: Factors influencing the threat of substitutes in the construction industry in Nigeria, 2024
Figure 10: Drivers of degree of rivalry in the construction industry in Nigeria, 2024
