Market Research Report
Construction in Austria - Key Trends and Opportunities to 2023
|Published by||GlobalData||Product code||283310|
|Published||Content info||51 Pages
Delivery time: 1-2 business days
|Construction in Austria - Key Trends and Opportunities to 2023|
|Published: May 29, 2019||Content info: 51 Pages||
The Austrian construction industry registered growth of 3.1% and 2.8% in real terms in 2017 and 2018 respectively, following an average annual growth of -1.3% during 2014-2016. Consequently, the industry's output value, measured at constant 2017 US dollar exchange rates, increased from US$59.4 billion in 2016 to US$63 billion in 2018. This growth can be attributed to positive developments in economic conditions, improvement in consumer confidence and investments in the commercial, industrial and office construction projects.
The industry's output value in real terms is expected to rise at a compound annual growth rate (CAGR) of 1.75% over the forecast period, compared to 1.03% during the review period (2014-2018). The industry is consequently expected to rise from a value of US$63 billion in 2018 to US$68.7 billion in 2023, measured at constant 2017 US dollar exchange rates. Over the forecast period (2019-2023), the industry's output is expected to be supported by the government's efforts to develop the country's transport, residential, and energy and utilities infrastructure. The implementation of the Austrian Climate and Energy Strategy will drive investment in the development and expansion of wind and hydroelectric power plants in the country.
Accounting for 43.1% of the industry's total value in 2018, residential construction was the largest market in the Austrian construction industry during the review period. The market is expected to retain its position over the forecast period, and account for 42.1% of the industry's total value in 2023. Infrastructure construction accounted for 19.9% of the industry's total output in 2018, followed by commercial construction with 16.2%, industrial construction with 9.6%, institutional construction with 5.7% and energy and utilities construction with 5.5%.
The total construction project pipeline in Austria including all mega projects with a value above US$25 million - stands at EUR55.7 billion (US$65.6 billion). The pipeline, which includes all projects from pre-planning to execution, is skewed towards late-stage projects, with 62.2% of the pipeline value being in projects in the pre-execution and execution stages as of May 2019.
The report "Construction in Austria - Key Trends and Opportunities to 2023" provides detailed market analysis, information and insights into the Austrian construction industry, including -
Furthermore, the report helps the user to -
This report provides a comprehensive analysis of the construction industry in Austria. It provides -