For a long time, the cure for diabetes type 1 and type 2 has relied on agonizing insulin shots for patients or insulin infusion via mechanical pumps. Regarding this, experts have been creating artificial pancreatic beta cells with the he…
Construction in Hungary - Key Trends and Opportunities to 2022
Following a period of negative growth during 2016, the Hungarian construction industry recovered in 2017, supported by positive developments in regional economic conditions, a revival in both investor and consumer confidence and government investment in transport infrastructure. Consequently, the country's construction industry registered growth of 31.6% in 2017 in real terms.
The government's efforts to enhance transport and tourism infrastructure, coupled with financial assistance from the European Union (EU) for infrastructure development will support the growth of the industry over the forecast period (2018-2022). Under the European Structural and Investment Funds for 2014-2020, the EU is investing HUF7.8 trillion billion (US$27.6 billion) during the period of 2014-2020 to develop the transport, industrial, energy, education, healthcare and research sectors.
The industry's output value in real terms is expected to rise at a compound annual growth rate (CAGR) of 9.27% over the forecast period, compared to 7.53% during the review period (2013-2017).
GlobalData's Construction in Hungary - Key Trends and Opportunities to 2022 report provides detailed market analysis, information and insights into the Hungarian construction industry, including -
- The Hungarian 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 Hungarian 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 infrastructure construction market to retain its leading position over the forecast period, with a share of 31.3% of the industry's total value in 2022, driven by public and private sector investments in the development and the modernization of the country's transport infrastructure. In the 2018 budget, the government allocated HUF50.0 billion (US$181.8 million) for the development of the country's largest cities under the Modern Cities Program.
- In 2017, the government announced the Hungarian National Tourism Development Strategy 2030. Under this strategy, the government is promoting sports, culture and health tourism in order to attract more investment in the tourism sector. The government aims to increase the tourism sector's contribution to the country's GDP from 10% in 2017 to 16% by 2030, and employment from 364,000 to 450,000 over the same period. Accordingly, under the long-term framework for Hungarian tourism, the government plans to invest HUF828.0 billion (US$3.0 billion) to finance the strategy by 2030.
- In the 2018 budget, the government increased its expenditure on the education sector by HUF81.0 billion (US$294.5 million), and allocated HUF287.0 billion (US$1.0 billion) more for pensions and social services, compared to the 2017 budget spending. In a bid to improve the quality of education and competitiveness of universities, provide adequate infrastructure and increase the number of foreign students, the government allocated HUF24.0 billion (US$87.3 million) in 2017 to the University of Pécs under the Modern Cities Program.
- GlobalData expects the energy and utilities construction market output to record a forecast-period CAGR of 17.08% in nominal terms. In December 2017, the government announced plans to simplify its rules to construct small solar power plants in the country. Accordingly, the government will ease regulations on the use of farmland and provide subsidized loans to landowners to construct solar power plants.
- The total construction project pipeline in Hungary, as tracked by the Construction Intelligence Center (CIC) and including all mega projects with a value above US$25 million, stands at HUF12.6 trillion (US$45.7 billion). The pipeline, which includes all projects from pre-planning to execution, is skewed to late-stage projects, with 57.9% of the pipeline value being in projects in the pre-execution and execution stages as of June 2018.
This report provides a comprehensive analysis of the construction industry in Hungary. It provides -
- Historical (2013-2017) and forecast (2018-2022) valuations of the construction industry in Hungary, 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.