Market Research Report
Construction in Poland - Key Trends and Opportunities to 2025 (Q3 2021)
|Construction in Poland - Key Trends and Opportunities to 2025 (Q3 2021)|
Published: September 30, 2021
Content info: 53 Pages
Delivery time: 1-2 business days
GlobalData expects the Polish construction industry to grow by 1.2% in 2021, in a sharp upward revision from the previous forecast, as the country has successfully managed the second wave and reopened business activity in the second quarter of 2021. The second wave during January-March 2021 disrupted the construction industry severely in the first quarter of 2021. However, in the second quarter of the year, the construction industry recovered, supported by the reopening of the economy. According to Eurostat, the construction industry's value add grew by 3.5% YoY in the second quarter of 2021, preceded by year-on-year (Y-o-Y) declines of 13% in Q1 2021 and 5.3% in Q4 2020.
Globaldata expects the construction industry to continue its recovery in the coming quarters, on the back of declining Coronavirus (COVID-19) cases and the government's investment on transport infrastructure with an aim to combat COVID-19's economic impact. Moreover, the European Union's Recovery and Resilience Facility (RRF) is also supporting the industry's growth over the forecast period. In August 2021, the EU announced a plan to provide PLN783.8 billion (US$201 billion) in funding to the country under the RRF during the period of 2021-2027. Of the total amount, the government decided to spend PLN73.7 billion (US$18.9 billion), particularly on the country's railway infrastructure.
The Kolej Plus programme was launched by the government in early 2020, with a total investment of PLN6.6 billion (US$1.6 billion), under which the country's railway infrastructure will be developed in cities which lack railway transport. Furthermore, in June 2021, Poland's deputy minister for infrastructure, Marcin Horara, signed an agreement with Spanish Minister of Transport, Mobility and Urban Agenda, Jose Luis Abalos, towards the development of a Polish high-speed rail system, part of the Solidarity Transport Hub. Furthermore, the government has pledged an investment of PLN75 billion (US$18 billion) in renewable energy projects, which will help the country in meeting its clean energy goals by 2030. Globaldata expects the country construction industry to register an annual average growth of 3.5% in real terms during the period of 2021-2025.
GlobalData's Construction in Poland - Key Trends and Opportunities to 2025 (Q3 2021) report provides detailed market analysis, information and insights into the Polish construction industry, including -
This report provides a comprehensive analysis of the construction industry in Poland. It provides -