Market Research Report
Construction in Austria - Key Trends and Opportunities to 2025
|Published by||GlobalData||Product code||283310|
|Published||Content info||46 Pages
Delivery time: 1-2 business days
|Construction in Austria - Key Trends and Opportunities to 2025|
|Published: January 27, 2021||Content info: 46 Pages||
The Austrian construction industry contracted by 3.2% in real terms in 2020, as a result of disruptions caused by the Coronavirus (COVID-19) outbreak and the subsequent lockdown measures. This decline was due to the temporary closure of businesses across the country, resulting in an increase in unemployment, a fall in disposable income and weak consumer and investor confidence.
The latest data release by Eurostat shows that the construction industry's value-add declined by 2.1% in the first three quarters of 2020, on a yearly basis. In 2021, the construction industry's output is expected to recover with growth of 2.2%, driven by the government's focus on the development of the country's transport and energy infrastructure. Downside risks remain, however, including a prolonged second outbreak.
The vaccine rollout is expected to provide scope for a revival in investor confidence, and output is forecast to grow at an annual average rate of 1.8% over 2022-2025. Growth in the sector 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 development of Vienna airport, the upgrade of the Pottendorfer railway line and the aim of generating 100% electricity from renewable sources by 2030 are expected to support the industry and economy.
This report provides detailed market analysis, information, and insights into the Austrian construction industry, including -
This report provides a comprehensive analysis of the construction industry in Austria. It provides -