Construction in Germany – Key Trends and Opportunities to 2024
The German construction industry expanded by 3.6% in real terms in 2019, driven by public and private sector investments in both building and civil engineering works. Even before the Coronavirus (COVID-19) outbreak, the country’s construction industry remained strong, with the residential sector supporting the industry with an increase in building permits by 1.8% in 2019, and the government’s efforts to ease the housing shortage.
Germany’s economy has been heavily disrupted due to the outbreak of the virus and the subsequent imposition of containment measures. However, although several sectors of the economy were ordered to shut down as a result of the lockdown measures, the construction sector was not. In March 2020, the German government announced that infrastructure, residential and utilities construction were exempted from the lockdown measures, with construction allowed to continue through the COVID-19 crisis.
According to Eurostat, construction output grew by 4% in the first three months of 2020 (the latest data available at the time of writing) compared to same period of 2019; this was preceded by annual growths of 3.6% in 2019 and 3.4% in 2018. In the coming quarters, the construction industry’s output growth is expected to pick up, driven by the government’s focus on the development of the country’s transport and energy infrastructure.
This research forecasts that the construction industry will contract by 4.4% in 2020, although it is forecasted to grow at an annual average rate of 2.4% between 2021-2024. This growth will be supported by the government’s focus on improving regional connectivity through the development of the country’s rail and road transport infrastructure, coupled with efforts to boost energy production. The construction of the Fehmarn belt underwater tunnel between Germany and Denmark, which is worth EUR7 billion (US$7.8 billion), would help boost the country’s growth over the coming years. Under the National Energy and Climate Plan (NECP), which is been approved in June, the country would improve its renewable energy share by 2030, thereby supporting the economy and construction industry
This report provides detailed market analysis, information and insights into the German construction industry, including –
– The German construction industry’s growth prospects by market, project type and construction activity
– Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in the German construction industry
– Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline
This report provides a comprehensive analysis of the construction industry in Germany. It provides –
– Historical (2015-2019) and forecast (2020-2024) valuations of the construction industry in Germany, 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
Reasons to Buy
– Identify and evaluate market opportunities using Standardized valuation and forecasting methodologies.
– Assess market growth potential at a micro-level with over 600 time-series data forecasts.
– Understand the latest industry and market trends.
– Formulate and validate strategy using critical and actionable insight.
– Assess business risks, including cost, regulatory and competitive pressures.
– Evaluate competitive risk and success factors.
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