With the construction industry representing one of the largest and fastest-growing in Africa, Mantrac Group is hosting a webinar series to offer a 360-degree overview of project solutions, forecast and insights as it supports this blossoming sector
Mantrac Group boasts dealerships in more than 10 African countries. (Image source: Mantrac)
The construction industry employs a huge number of people and, each year, billions of dollars are invested into it through government funding, consortiums, and private investors.
Whether West, South, East, North or central Africa, each of the continent’s five key regions have specific construction goals, with experts predicting more growth than ever in all sectors, including transportation and energy.
In 2020, the African construction market was valued at roughly US$5.4bn. This is only set to increase as the market is expected to register a Compound Annual Growth Rate (CAGR) of 7.4% between 2021 and 2026.
This rapid pace of growth is driven by both public sector spending on infrastructure development projects and private investment in residential housing units as well as commercial buildings such as shopping malls with retail outlets. Energy, power and transport projects have consistently been key contributors to the sectoral mix of projects underway, with the real estate sector – predominantly commercial real estate – emerging as a critical sector in recent years.
It is safe to say, due to fast-paced urbanisation, the construction industry in Africa is booming and will likely continue to do so for years to come. The construction industry is a huge part of the economy across the continent and construction requirements are diverse.
With an ever-increasing demand for construction and growth, the world’s largest manufacturer of earthmoving equipment, Caterpillar Inc., has a huge presence on the continent. As a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives, Caterpillar equipment is globally trusted and well-known to be tough and reliable enough to withstand even the harshest conditions on the African continent.
As one of the continent’s largest authorised Caterpillar dealers, Mantrac Group boasts dealerships in more than 10 African countries and has been providing and offering the very best construction solutions across the continent for the past 40 years.
With an extensive network of dealerships, Mantrac offers various equipment, products and fully customisable solutions to meet each customer’s needs. With extensive experience with all types of construction projects – from roads to mines, railroads, quarrying, power plants and everything in between – its team of experts are ready to find the best fit depending on project type, terrain, and number of hours worked to ensure machines performs efficiently under any circumstance or weather condition within this diverse and extensive region.
The African construction market continues to grow at a rapid pace, fuelled by an influx of private investment as well as more public funding via development partners. Africa is considered the next frontier for growth in construction, and although the continent faces its unique challenges, experts continue to predict that the construction industry will continue to grow and boom in the coming years.
For more industry insights, latest best practices, machine demonstrations or talk to Mantrac consultants and industry experts, register to the free Mantrac Live online series today at: https://www.mantracgroup.com/construction-webinar/
