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Market Research Report

Construction in Croatia - Key Trends and Opportunities to 2023

Published by GlobalData Product code 885373
Published Content info 52 Pages
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Construction in Croatia - Key Trends and Opportunities to 2023
Published: July 4, 2019 Content info: 52 Pages
Description

Croatia's construction industry regained growth momentum in 2018, with output expanding by 4.7% in real terms - up from 1.3% in 2017. The industry's output value, measured at constant 2017 US dollar exchange rates, increased from US$6.8 billion in 2017 to US$7.1 billion in 2018. The country's gross fixed capital formation at 2010 chain linked volume prices grew by 4.1% in 2018 compared to 2017, increasing from HRK74.3 billion (US$11.2 billion) in 2017 to HRK77.3 billion (US$12.3 billion) in 2018; this was preceded by an annual growth of 3.8% in 2017.

The country's average construction works volume index also grew in 2018, increasing by 4.9%, according to the Croatian Bureau of Statistics (CBS). The average construction works volume index for buildings grew by 10.9% year-on-year in 2018, although that of civil engineering works declined by 2.9% year-on-year. Furthermore, the average construction works volume index grew by 13.8% year-on-year in the first two months of 2019, while that of buildings grew by 13.5% year-on-year and civil engineering works by 14.1% year-on-year during the same period.

The industry's output value is expected to continue to expand in real terms over the forecast period (2019-2023), driven by the government's plans to upgrade the country's transport infrastructure. The government plans to invest HRK9.3 billion (US$1.5 billion) in rail infrastructure by 2023. The industry's output value in real terms is expected to rise at a compound annual growth rate (CAGR) of 2.75% over the forecast period. The industry is consequently expected to rise from a value of US$7.1 billion in 2018 to US$8.2 billion in 2023, measured at constant 2017 US dollar exchange rates.

Commercial construction was the largest market in the Croatian construction industry in 2018, accounting for 26.3% of its total value that year. The market is expected to follow a similar trend over the forecast period, with commercial construction accounting for 27.6% of the industry's total value in 2023. Residential construction accounted for 23.3% of the industry's total output in 2018, followed by infrastructure construction with 21.9%, industrial construction with 14.3%, institutional construction with 7.09% and energy and utilities construction with 7.06%.

The total construction project pipeline in Croatia including all mega projects with a value above US$25 million - stands at HRK154.3 billion (US$24.6 billion). The pipeline, which includes all projects from pre-planning to execution, is well balanced, with 51.3% of the pipeline value being in projects in the pre-execution and execution stages as of July 2019.

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

  • The Croatian 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 Croatian 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 Croatia. It provides:

  • Historical (2014-2018) and forecast (2019-2023) valuations of the construction industry in Croatia, 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: GDCN0494MR

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: Croatia, Key Economic Indicators
  • Table 3: Croatia, Construction Output Value (nominal, HRK Million)
  • Table 4: Croatia, Construction Output Value (nominal, US$ Million)
  • Table 5: Croatia, Top Commercial Construction Projects by Value
  • Table 6: Croatia, Top Industrial Construction Projects by Value
  • Table 7: Croatia, Top Infrastructure Construction Projects by Value
  • Table 8: Croatia, Top Energy and Utilities Construction Projects by Value
  • Table 9: Croatia, Top Institutional Construction Projects by Value
  • Table 10: Croatia, Top Residential and Mixed-Use Construction Projects by Value
  • Table 11: Croatia, Key Contractors
  • Table 12: Croatia, 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: Croatia, Construction Projects Pipeline by Sector (HRK Billion)
  • Figure 3: Croatia, Total permit issued (Number)
  • Figure 4: Croatia, Housing price index
  • Figure 5: Croatia, Risk Comparison, Q2 2018
  • Figure 6: Croatia, Risk Comparison Review
  • Figure 7: Croatia, Construction Output Value (Real, US$ billion, 2017 prices and exchange rate)
  • Figure 8: Croatia, Construction Output Value, Growth Matrix
  • Figure 9: Croatia, Construction Output Value, by Sector (HRK Million), 2014-2023
  • Figure 10: Croatia, Construction Projects Pipeline, Projected Annual Spending by Stage (HRK Million), 2018-2023
  • Figure 11: Croatia, Construction Projects Pipeline, Value by Stage (HRK Million)
  • Figure 12: Croatia, Commercial Construction Output by Project Type (HRK Million), 2014-2023
  • Figure 13: Croatia, Commercial Construction Projects Pipeline, Value by Stage (HRK Million)
  • Figure 14: Croatia, Commercial Construction Projects Pipeline, Projected Annual Spending by Stage (HRK Million), 2018-2023
  • Figure 15: Croatia, Industrial Construction Output by Project Type (HRK Million), 2014-2023
  • Figure 16: Croatia, Industrial Construction Projects Pipeline, Value by Stage (HRK Million)
  • Figure 17: Croatia, Industrial Construction Projects Pipeline, Projected Annual Spending by Stage (HRK Million), 2018-2023
  • Figure 18: Croatia, Infrastructure Construction Output by Project Type (HRK Million), 2014-2023
  • Figure 19: Croatia, Infrastructure Construction Projects Pipeline, Value by Stage (HRK Million)
  • Figure 20: Croatia, Infrastructure Construction Projects Pipeline, Projected Annual Spending by Stage (HRK Million), 2018-2023
  • Figure 21: Croatia, Energy and Utilities Construction Output by Project Type (HRK Million), 2014-2023
  • Figure 22: Croatia, Energy and Utilities Construction Projects Pipeline, Value by Stage (HRK Million)
  • Figure 23: Croatia, Energy and Utilities Construction Projects Pipeline, Projected Annual Spending by Stage (HRK Million), 2018-2023
  • Figure 24: Croatia, Institutional Construction Output by Project Type (HRK Million), 2014-2023
  • Figure 25: Croatia, Institutional Construction Projects Pipeline, Value by Stage (HRK Million)
  • Figure 26: Croatia, Institutional Construction Projects Pipeline, Projected Annual Spending by Stage (HRK Million), 2018-2023
  • Figure 27: Croatia, Residential Construction Output by Project Type (HRK Million), 2014-2023
  • Figure 28: Croatia, Residential Construction Projects Pipeline, Value by Stage (HRK Million)
  • Figure 29: Croatia, Residential Construction Projects Pipeline, Projected Annual Spending by Stage (HRK Million), 2018-2023
  • Figure 30: Croatia, Headquarters of Key Contractors (% of Total Project Pipeline)
  • Figure 31: Croatia, Headquarters of Foreign Contractors (% of Project Pipeline with Foreign Contractor)
  • Figure 32: Croatia, Headquarters of Key Consultants (% of Total Project Pipeline)
  • Figure 33: Croatia, Headquarters of Foreign Consultants (% of Project Pipeline with Foreign Consultants)
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