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Market Research Report

Construction in Greece - Key Trends and Opportunities to 2023

Published by GlobalData Product code 268675
Published Content info 51 Pages
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Construction in Greece - Key Trends and Opportunities to 2023
Published: November 25, 2019 Content info: 51 Pages
Description

In real terms, the Greek construction industry recovered in 2018, after registering a lackluster performance in 2017. This recovery was driven by positive developments in economic conditions, which led to a revival in both investor and consumer confidence. Consequently, the country's construction industry registered a growth of 7.9% in 2018 in real terms, which was up from 0.4% in 2017. The industry's output value, measured at constant 2017 US dollar exchange rates, increased from US$12.8 billion in 2017 to US$13.8 billion in 2018.

The industry is expected to continue to expand in 2019, with the industry's output expected to register growth of 20% in real terms that year. Investment in transport, energy, housing and commercial infrastructure projects is expected to support the industry over the forecast period (2019-2023). The government plans to invest EUR2.8 billion (US$3.2 billion) in transport networks during the period of 2019-2027. The focus on the development of renewable energy infrastructure is also expected to drive industry growth. The government aims to generate 35% of the country's total gross energy consumption from renewable sources by 2030.

The industry's output value in real terms is expected to post a compound annual growth rate (CAGR) of 5.92% over the forecast period. The industry is consequently expected to rise from a value of US$13.8 billion in 2018 to US$18.4 billion in 2023, measured at constant 2017 US dollar exchange rates.

Residential construction was the largest market in the Greek construction industry in 2018, accounting for 31.9% of its total value that year. The market is expected to increase its market share over the forecast period, accounting for 33.4% of the industry's total value in 2023. Infrastructure construction accounted for 27.9% of the industry's total output in 2018, followed by commercial construction with 18.3%, industrial construction with 9.3%, institutional construction with 6.8% and energy and utilities construction with 5.9%.

The total construction project pipeline in Greece including all mega projects with a value above US$25 million - stands at EUR57.3 billion (US$67.6 billion). The pipeline, which includes all projects from pre-planning to execution, is skewed towards late-stage projects, with 66.3% of the pipeline value being in projects in the pre-execution and execution stages as of November 2019.

The report "Construction in Greece - Key Trends and Opportunities to 2023" provides detailed market analysis, information and insights into the Greek construction industry, including:

  • Historical (2014-2018) and forecast (2019-2023) valuations of the construction industry in Greece, 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

Scope

This report provides a comprehensive analysis of the construction industry in Greece. It provides -

  • Historical (2014-2018) and forecast (2019-2023) valuations of the construction industry in Greece, 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.
Table of Contents
Product Code: GDCN0501MR

Table of Contents

1 Executive Summary

2 Construction Outlook: At-a-glance

3 Latest News and Indicators

4 Key Drivers and Risks

  • 4.1. Economic Performance
  • 4.2. Political Environment
  • 4.3. Demographics
  • 4.4. Risk Profile

5 Construction Outlook

  • 5.1. All Construction
    • 5.1.1. Outlook
    • 5.1.2. Project analytics
  • 5.2. Commercial Construction
    • 5.2.1. Outlook
    • 5.2.2. Project analytics
  • 5.3. Industrial Construction
    • 5.3.1. Outlook
    • 5.3.2. Project analytics
  • 5.4. Infrastructure Construction
    • 5.4.1. Outlook
    • 5.4.2. Project analytics
  • 5.5. Energy and Utilities Construction
    • 5.5.1. Outlook
    • 5.5.2. Project analytics
  • 5.6. Institutional Construction
    • 5.6.1. Outlook
    • 5.6.2. Project analytics
  • 5.7. Residential Construction
    • 5.7.1. Outlook
    • 5.7.2. Project analytics

6 Key Industry Participants

  • 6.1. Contractors
  • 6.2. Consultants

7 Appendix

  • 7.1. What is this Report About?
  • 7.2. Definitions

8 About GlobalData

  • 8.1. GlobalData at a Glance
  • 8.2. GlobalData Construction
  • 8.3. Disclaimer
  • 8.4. Contact Us

List of Tables

  • Table 1: Construction Outlook
  • Table 2: Greece, Key Economic Indicators
  • Table 3: Greece, Construction Output Value (nominal, EUR Million)
  • Table 4: Greece, Construction Output Value (nominal, US$ Million)
  • Table 5: Greece, Top Commercial Construction Projects by Value
  • Table 6: Greece, Top Industrial Construction Projects by Value
  • Table 7: Greece, Top Infrastructure Construction Projects by Value
  • Table 8: Greece, Top Energy and Utilities Construction Projects by Value
  • Table 9: Greece, Top Institutional Construction Projects by Value
  • Table 10: Greece, Top Residential and Mixed-Use Construction Projects by Value
  • Table 11: Greece, Key Contractors
  • Table 12: Greece, Key Consultants
  • Table 13: GlobalData Construction Market Definitions
  • Table 14: Construction Risk Index Ratings and Scores

List of Figures

  • Figure 1: Key Markets, Construction Output Growth Matrix and Risk Matrix
  • Figure 2: Greece, Construction Projects Pipeline by Sector (EUR Billion)
  • Figure 3: Greece, Gross Fixed Capital Formation in Construction (EUR million)
  • Figure 4: Greece, Building Permits Issued (Total Numbers)
  • Figure 5: Greece, Apartment Prices Index (Index = 100 in 2007)
  • Figure 6: Greece, Risk Profile
  • Figure 7: Greece, Risk Comparison
  • Figure 8: Greece, Construction Output Value (Real, US$ billion, 2017 prices and exchange rate)
  • Figure 9: Greece, Construction Output Value, Growth Matrix
  • Figure 10: Greece, Construction Output Value, by Sector (EUR Million), 2014-2023
  • Figure 11: Greece, Construction Projects Pipeline, Projected Annual Spending by Stage (EUR Million), 2018-2023
  • Figure 12: Greece, Construction Projects Pipeline, Value by Stage (EUR Million)
  • Figure 13: Greece, Commercial Construction Output by Project Type (EUR Million), 2014-2023
  • Figure 14: Greece, Commercial Construction Projects Pipeline, Value by Stage (EUR Million)
  • Figure 15: Greece, Commercial Construction Projects Pipeline, Projected Annual Spending by Stage (EUR Million), 2018-2023
  • Figure 16: Greece, Industrial Construction Output by Project Type (EUR Million), 2014-2023
  • Figure 17: Greece, Industrial Construction Projects Pipeline, Value by Stage (EUR Million)
  • Figure 18: Greece, Industrial Construction Projects Pipeline, Projected Annual Spending by Stage (EUR Million), 2018-2023
  • Figure 19: Greece, Infrastructure Construction Output by Project Type (EUR Million), 2014-2023
  • Figure 20: Greece, Infrastructure Construction Projects Pipeline, Value by Stage (EUR Million)
  • Figure 21: Greece, Infrastructure Construction Projects Pipeline, Projected Annual Spending by Stage (EUR Million), 2018-2023
  • Figure 22: Greece, Energy and Utilities Construction Output by Project Type (EUR Million), 2014-2023
  • Figure 23: Greece, Energy and Utilities Construction Projects Pipeline, Value by Stage (EUR Million)
  • Figure 24: Greece, Energy and Utilities Construction Projects Pipeline, Projected Annual Spending by Stage (EUR Million), 2018-2023
  • Figure 25: Greece, Institutional Construction Output by Project Type (EUR Million), 2014-2023
  • Figure 26: Greece, Institutional Construction Projects Pipeline, Value by Stage (EUR Million)
  • Figure 27: Greece, Institutional Construction Projects Pipeline, Projected Annual Spending by Stage (EUR Million), 2018-2023
  • Figure 28: Greece, Residential Construction Output by Project Type (EUR Million), 2014-2023
  • Figure 29: Greece, Residential Construction Projects Pipeline, Value by Stage (EUR Million)
  • Figure 30: Greece, Residential Construction Projects Pipeline, Projected Annual Spending by Stage (EUR Million), 2018-2023
  • Figure 31: Greece, Headquarters of Key Contractors (% of Total Project Pipeline)
  • Figure 32: Greece, Headquarters of Foreign Contractors (% of Project Pipeline with Foreign Contractor)
  • Figure 33: Greece, Headquarters of Key Consultants (% of Total Project Pipeline)
  • Figure 34: Greece, Headquarters of Foreign Consultants (% of Project Pipeline with Foreign Consultants)
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