FEATURES OF THE DEVELOPMENT OF THE COMPETITIVE ENVIRONMENT IN THE CONSTRUCTION SPHERE
Abstract
This article examines the development of the competitive environment in Ukraine's construction sector in the context of instability. It looks at trends over the past decade, focusing on key indicators such as the number of companies, construction product and service volumes, and financial results. The article highlights the dynamic nature of the competitive environment, with an increasing number of market participants, signaling its attractiveness to both entrepreneurs and investors. The analysis identifies the key factors influencing the competitive landscape, including an unstable environment, political factors, technological advancements, and the implementation of innovations. Special attention is given to the impact of demand on the sector’s development prospects and the challenges related to pricing, which are critical to the competitive environment. The article also discusses economic challenges such as inflation, currency fluctuations, and the rising cost of construction materials, all of which affect financial outcomes for companies in the sector. The article covers two main market segments: large construction companies with access to significant projects and small and medium-sized enterprises (SMEs) competing through flexibility and innovation. A particular focus is placed on the issues of corruption and deregulation, which create obstacles to development and hinder the growth of smaller companies that face difficulties in navigating complex regulatory frameworks. Furthermore, the article examines housing demand trends, especially amid the ongoing housing shortage and post-war recovery. The competitive environment is influenced by the increasing need for residential buildings, driving both domestic and foreign investments. The construction sector's recovery is vital not only for economic stability but also to address the housing needs of the population. The study suggests potential directions for future research and industry development, emphasizing the importance of innovation, improved regulatory frameworks, and a more stable business environment. Despite the challenges, Ukraine's construction sector offers opportunities for growth and investment, and understanding the factors shaping its competitive environment is crucial for fostering long-term stability and development.
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