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Construction in Germany - Key Trends and Opportunities to 2022
Germany's construction industry regained growth momentum in 2017, with output expanding by 2.3% in real terms - up from 1.9% in 2016. Growth during the review period (2013-2017) averaged 0.9% a year, and was supported by improvements in both regional economic conditions and business confidence. Additionally, the government's investments in transport, residential and energy infrastructure projects, through the implementation of flagship programs such as Federal Transport Infrastructure Plan (FTIP) 2030 and Energiewende, supported the industry's expansion.
The industry's performance is expected to remain stable over the forecast period (2018-2022), as infrastructure development in the country has already attained a mature stage. Strong domestic demand and improving private consumption are expected to support the industry over the forecast period. Ongoing efforts by the government to upgrade the country's transport infrastructure on the back of the growing population and growth in the manufacturing, retail and tourism sectors are expected to add some momentum to the industry's expansion over the forecast period.
The industry's output value in real terms is expected to record a compound annual growth rate (CAGR) of 1.86% over the forecast period, compared to 1.77% during the review period.
GlobalData's Construction in Germany - Key Trends and Opportunities to 2022 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.
- GlobalData expects the residential construction market to retain its leading position over the forecast period, with a share of 45.5% of the industry's total value in 2022. Over the forecast period, market growth is expected to be supported by the government's effort to address the country's housing shortage. According to estimates of the Berlin city government, over 194,000 housing units need to be constructed in the city by 2030, so as to keep pace with the growing demand.
- The government's focus on enhancing broadband connectivity in the country is expected to support the expansion of the telecommunications infrastructure category over the forecast period. In 2017, the government announced plans to invest EUR4.0 billion (US$4.5 billion) until 2020 to equip internet networks across the country with a minimum speed of up to 50.0mbps.
- GlobalData expects infrastructure construction market output to record a forecast-period CAGR of 7.21% in nominal terms, supported by the government's large-scale investments under the FTIP 2030, which was launched in August 2016. Under this, the government announced plans to invest EUR269.6 billion (US$298.1 billion) between 2017 and 2030 to develop over 1,000 transport infrastructure projects in the country by 2030.
- In line with its target to increase renewable energy production by 2035, in September 2017 the Federal Agency for Marine Transport and Hydrographic Agency announced plans to develop an offshore wind farm project in Borkum with a total installed capacity of 480.0MW. With a total investment of EUR886.7 million (US$1.0 billion), the project includes the construction of substations, power houses and switch rooms, and the installation of 80 turbines, transformers and generators. The project is expected to be completed in 2021.
- The total construction project pipeline in Germany - as tracked by the Construction Intelligence Center (CIC) and including all mega projects with a value above US$25 million - stands at EUR263.3 billion (US$296.9 billion). The pipeline, which includes all projects from pre-planning to execution, is skewed to late-stage projects, with 71.8% of the pipeline value being projects in the pre-execution and execution stages as of June 2018.
This report provides a comprehensive analysis of the construction industry in Germany. It provides -
- Historical (2013-2017) and forecast (2018-2022) 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 GlobalData's 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 GlobalData's critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.