The global biomedical refrigerators and freezers market is slated to magnify at a strong CAGR of 4.2% over the period amid 2016 and 2024. The market, which was worth $2.91 billion in 2015, is predicted to upswing to $4.28 billion by 2024…
BMI View: The Bulgarian construction industry is expected to contract 1.7% y-o-y in 2016. Infrastructure
construction will be the largest market in the country's construction industry, expanding 2.8% y-o-y in 2016
and accounting for 59.0% of its total value. The development of the country's road and railway network
with the support of EU funds will continue. Tourism sector will remain a substantial growth driver, while
the limited demand and the scarcity of developments in the pipeline in the non-residential building sector
will drag downwards the entire residential and non-residential building industry as it is anticipated to
contribute about three quarters to the latter sector's total value this year.
Latest Updates And Structural Trends
? Driven by transport infrastructure projects, we forecast Bulgaria's construction industry will grow by an
average of 1.6% over 2016-2025.
? 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.
? Improved absorption of EU structural funding will be supported by public investment projects to a certain
? World Bank will provide loans worth EUR550mn to Bulgaria for the next six years in order to support
financial stability, strengthen electricity sector and improve energy efficiency.
? We do not expect investment in renewable energy infrastructure to increase given the Bulgarian
government decided to terminate incentives for new renewable energy capacity in March 2015.
? The outlook for the residential sector is not positive, especially from 2019 onwards. The housing market
remains weak following a collapse in prices since 2008 and the high levels of indebtedness will act as a
headwind to future investment.