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Market Research Report

Construction in Hungary - Key Trends and Opportunities to 2023

Published by GlobalData Product code 661498
Published Content info 53 Pages
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Construction in Hungary - Key Trends and Opportunities to 2023
Published: June 25, 2019 Content info: 53 Pages
Description

Construction activities in Hungary picked up sharply in 2018, with output value expanding by 22.9% in real terms - up from 17% in 2017. The industry's output value, measured at constant 2017 US dollar exchange rates, increased from US$9.1 billion in 2017 to US$11.2 billion in 2018. Growth during the review period (2014-2018) averaged 8.6% a year, and was supported by strong economic conditions, coupled with public and private sector investment in transport infrastructure, residential and commercial construction projects.

The industry's output value in real terms is expected to rise at a compound annual growth rate (CAGR) of 5.30% over the forecast period, compared to 7.22% during the review period. The industry is consequently expected to rise from a value of US$11.2 billion in 2018 to US$14.5 billion in 2023, measured at constant 2017 US dollar exchange rates.

According to the Hungarian Central Statistical Office (KSH), the country's total construction production value in nominal terms grew by 34.3%, going from HUF2.5 trillion (US$9.1 billion) in 2017 to HUF3.3 trillion (US$12.2 billion) in 2018; this was preceded by an annual decline of 16.5% in 2016 and an annual growth of 37.4% in 2017. Over the forecast period (2019-2023), the government's efforts to enhance transport and renewable energy infrastructure will support the growth of the industry.

Infrastructure construction was the largest market in the Hungarian construction industry during the review period, accounting for 28.6% of its total value in 2018. The market is expected to increase in importance over the forecast period, to account for 32.7% of the industry's total value in 2023. Over the forecast period, the market is expected to be supported by government's investment in rail and road projects. Industrial construction accounted for 20.6% of the industry's total output in 2018, followed by commercial construction with 16.9%, residential construction with 15.3%, energy and utilities construction with 12.0% and institutional construction with 6.6%.

The total construction project pipeline in Hungary including all mega projects with a value above US$25 million - stands at HUF14.4 trillion (US$53.1 billion). The pipeline, which includes all projects from pre-planning to execution, is skewed towards early-stage projects, with 66.2% of the pipeline value being in projects in the pre-planning and planning stages as of June 2019.

The report "Construction in Hungary - Key Trends and Opportunities to 2023", 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

Scope

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

  • Historical (2014-2018) and forecast (2019-2023) 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.
Table of Contents
Product Code: GDCN0481MR

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: Hungary, Key Economic Indicators
  • Table 3: Hungary, Construction Output Value (nominal, HUF Million)
  • Table 4: Hungary, Construction Output Value (nominal, US$ Million)
  • Table 5: Hungary, Top Commercial Construction Projects by Value
  • Table 6: Hungary, Top Industrial Construction Projects by Value
  • Table 7: Hungary, Top Infrastructure Construction Projects by Value
  • Table 8: Hungary, Top Energy and Utilities Construction Projects by Value
  • Table 9: Hungary, Top Institutional Construction Projects by Value
  • Table 10: Hungary, Key Contractors
  • Table 11: Hungary, Key Consultants
  • Table 12: GlobalData Construction Market Definitions
  • Table 13: Construction Risk Index Ratings and Scores

List of Figures

  • Figure 1: Key Markets, Construction Output Growth Matrix and Risk Matrix
  • Figure 2: Hungary, Construction Projects Pipeline by Sector (HUF Billion)
  • Figure 3: Hungary, Number of dwelling units built (Total Number)
  • Figure 4: Hungary, residential construction permits issued (Total number)
  • Figure 5: Hungary, HPI for new dwellings
  • Figure 6: Hungary, Risk Profile
  • Figure 7: Hungary, Risk Comparison
  • Figure 8: Hungary, Construction Output Value (Real, US$ Billion 2017 prices and exchange rate)
  • Figure 9: Hungary, Construction Output Value, Growth Matrix
  • Figure 10: Hungary, Construction Output Value, by Sector (HUF Million), 2014-2023
  • Figure 11: Hungary, Construction Projects Pipeline, Projected Annual Spending by Stage (HUF Million), 2018-2023
  • Figure 12: Hungary, Construction Projects Pipeline, Value by Stage (HUF Million)
  • Figure 13: Hungary, Commercial Construction Output by Project Type (HUF Million), 2014-2023
  • Figure 14: Hungary, Commercial Construction Projects Pipeline, Value by Stage (HUF Million)
  • Figure 15: Hungary, Commercial Construction Projects Pipeline, Projected Annual Spending by Stage (HUF Million), 2018-2023
  • Figure 16: Hungary, Industrial Construction Output by Project Type (HUF Million), 2014-2023
  • Figure 17: Hungary, Industrial Construction Projects Pipeline, Value by Stage (HUF Million)
  • Figure 18: Hungary, Industrial Construction Projects Pipeline, Projected Annual Spending by Stage (HUF Million), 2018-2023
  • Figure 19: Hungary, Infrastructure Construction Output by Project Type (HUF Million), 2014-2023
  • Figure 20: Hungary, Infrastructure Construction Projects Pipeline, Value by Stage (HUF Million)
  • Figure 21: Hungary, Infrastructure Construction Projects Pipeline, Projected Annual Spending by Stage (HUF Million), 2018-2023
  • Figure 22: Hungary, Energy and Utilities Construction Output by Project Type (HUF Million), 2014-2023
  • Figure 23: Hungary, Energy and Utilities Construction Projects Pipeline, Value by Stage (HUF Million)
  • Figure 24: Hungary, Energy and Utilities Construction Projects Pipeline, Projected Annual Spending by Stage (HUF Million), 2018-2023
  • Figure 25: Hungary, Institutional Construction Output by Project Type (HUF Million), 2014-2023
  • Figure 26: Hungary, Institutional Construction Projects Pipeline, Value by Stage (HUF Million)
  • Figure 27: Hungary, Institutional Construction Projects Pipeline, Projected Annual Spending by Stage (HUF Million), 2018-2023
  • Figure 28: Hungary, Residential Construction Output by Project Type (HUF Million), 2014-2023
  • Figure 29: Hungary, Headquarters of Key Contractors (% of Total Project Pipeline)
  • Figure 30: Hungary, Headquarters of Foreign Contractors (% of Project Pipeline with Foreign Contractor)
  • Figure 31: Hungary, Headquarters of Key Consultants (% of Total Project Pipeline)
  • Figure 32: Hungary, Headquarters of Foreign Consultants (% of Project Pipeline with Foreign Consultants
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