Construction in Croatia – Key Trends and Opportunities to 2023

2019-07-04
Price :
Published : Jul-2019
No. of Pages : 52

Construction in Croatia – Key Trends and Opportunities to 2023

Summary

Croatia’s construction industry regained growth momentum in 2018, with output expanding by 4.7% in real terms – up from 1.3% in 2017. Growth during the review period (2014-2018) averaged 1.4% a year, and was supported by positive developments in regional economic conditions and public and private sector investments in commercial, residential and energy infrastructure construction projects.

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. In addition, the industry’s output is expected to be supported by improvements in business confidence, which will drive investment in infrastructure, commercial, residential projects and energy infrastructure. The focus on the development of renewable energy infrastructure is also expected to drive industry growth. The government plans to invest HRK12 billion (US$1.9 billion) in renewable energy by 2030. Financial assistance from the European Union (EU) to develop the country’s overall infrastructure is also expected to support industry growth.

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.

GlobalData’s “Construction in Croatia – Key Trends and Opportunities to 2023”, report 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.

Key Highlights

– GlobalData expects the infrastructure construction market to record a forecast-period CAGR of 3.29% in nominal terms, driven by the government’s plan to develop and modernize the country’s transport infrastructure. In May 2019, HŽ Infrastruktura, the state-owned rail infrastructure operator, announced its plan to invest HRK9.3 billion (US$1.5 billion) in rail infrastructure during the period of 2019-2023.
– The European Investment Bank (EIB) invested HRK4 billion (US$639 million) in Croatia in 2018 in the transport, energy, infrastructure and social sectors. Of the total investment, HRK1.3 billion (US$202.9 million) was allocated for environmental projects, HRK901.2 million (US$143.5 million) for infrastructure projects, HRK741.4 million (US$118.1 million) for small and medium-scale projects and HRK654.8 million (US$104.3 million) for innovation.
– GlobalData expects the institutional construction market to register a forecast-period CAGR of 4.76% in nominal terms, driven by public and private sector investment in education and healthcare construction projects. In the 2019 budget, the government increased its spending of the Ministry of Science and Education by HRK499.6 million (US$79.6 million), compared to the 2018 budget spending. In 2018, three EU Fund healthcare grant agreements worth HRK175.8 million (US$28 million) was signed by the Ministry of Regional Development to develop the country’s healthcare sector.
– Forecast-period growth in the energy and utilities construction market will be driven by the government’s efforts to promote renewable energy. To reduce the country’s reliance on imported energy, cut carbon emissions and generate more electricity through renewable sources, the government is developing renewable energy infrastructure. The government aims to generate 32% of the country’s gross energy consumption through renewable sources by 2030 and 56% by 2050.
– The total construction project pipeline in Croatia – as tracked by GlobalData, and 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.

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.

Filed in: Manufacturing
Publisher : GlobalData
More Reports
Title Price Buy Now

Construction in Finland – Key Trends and Opportunities to 2023

Construction in Finland - Key Trends and Opportunities to 2023 Summary Finland's construction industry expanded by 4.1% in real terms in 2018. This was preceded by an average annual growth of 3.3% during the preceding four years. Growth during the review period (2014-2018) was driven by positive developments in regional economic conditions and government investment in energy, residential and institutional construction projects. The country's construction industry is, however, expected to contract in real terms - by 0.2% in 2019 and 2% in 2020 - before regaining growth momentum. Low spending on residential building due to oversupply, a shortage of labor and a decline in building permits is expected to hamper the growth of the construction industry during the period of 2019-2020. Over th......
$1495

Construction in Russia – Key Trends and Opportunities to 2023

Construction in Russia - Key Trends and Opportunities to 2023 Summary Following a negative growth in 2017, construction activities in Russia picked up sharply in 2018, with the start of work on the liquefied natural gas (LNG) projects providing a spurt, along with work related to host the 2018 Fifa World Cup. As a result, the country's construction industry grew by 4.7% in real terms in 2018, compared to -1.2% in 2017. The government invested RUB904.6 billion (US$14 billion) on the development of hotels, transport facilities and other related infrastructure in 11 cities of the country to host the 2018 Fifa World Cup. The industry is expected to continue to grow over the forecast period (2019-2023), supported by the government's effort to revitalize economic growth through investments i......
$1495

Construction in Denmark – Key Trends and Opportunities to 2023

Construction in Denmark - Key Trends and Opportunities to 2023 Summary Denmark's construction industry regained growth momentum in 2018, with output expanding by 5.7% in real terms - up from 3.3% in 2017. Growth during the review period (2014-2018) averaged 6.2% a year, and was supported by public and private sector investment in infrastructure, energy and residential construction projects. Financial assistance from the European Union (EU) to develop the country's overall infrastructure also supported industry growth during the review period. In the current Multiannual Financial Framework (2014-2020), the EU plans to allocate DKK11.1 billion (US$2.0 billion) to Denmark, of which DKK7.2 billion (US$1.3 billion) was allocated by the end of 2018. The industry is expected to continue to exp......
$1495

Trends and Opportunities in the US Packaging Industry

Trends and Opportunities in the US Packaging Industry Summary The packaging industry in the US is estimated to grow from 587.9 billion units in 2018 to 623.5 billion units by 2023, at a CAGR of 1.2%. Busier lifestyles, rising purchasing power and consequently growing demand for quick and on-the-go packaged goods is fueling growth in the packaging industry in the US. Product packaging with convenient, functional, and eco-friendly formats are expected to gain greater proliferation in the country. Over 2018-2023, the unit growth of rigid plastics is expected be the fastest, while the use of paper & board is expected to decline, over the same period. This report brings together multiple data sources to provide a comprehensive overview of the US packaging industry. It includes market overvie......
$3120

Construction in France – Key Trends and Opportunities to 2023

Construction in France - Key Trends and Opportunities to 2023 Summary The French construction industry registered marginal growth in 2018, with output expanding by 1.1% in real terms - down from 3.5% in 2017. The pace of expansion was hampered by sluggish economic growth, which eased to 1.5% in 2018, compared to 2.3% growth in 2017, owing in part to a hike in fuel taxes and transporter's strikes. Investor confidence is also being undermined by political risks associated with the ‘yellow vests' protests. Although the number of protestors at the ‘yellow vests' rallies in France fell sharply by mid-2019, there are growing concerns over the impact on the economy from the disruption caused by the movement since it began late 2018. The protests were initially established to challenge fuel ta......
$1495

Construction in the UK – Key Trends and Opportunities to 2023

Construction in the UK - Key Trends and Opportunities to 2023 Summary Construction activity in the UK was weak in 2018, owing to weak business confidence as a result of the UK's planned exit from the EU (Brexit). Poor investor confidence, coupled with sluggish economic growth, reduced construction activity in a number of sectors, particularly commercial buildings. Consequently, the country's construction industry grew by just 0.3% in real terms in 2018; this was preceded by an annual growth of 7.1% in 2017 and 4.1% in 2016. Weak economic growth and high levels of risk to business operations relating to Brexit will continue to constrain construction activity during the early part of the forecast period. Uncertainty over the UK's future outside of the EU continues to unnerve investors, an......
$1495

Construction in the Netherlands – Key Trends and Opportunities to 2023

Construction in the Netherlands - Key Trends and Opportunities to 2023 Summary In real terms, the Dutch construction industry registered a growth of 7.1% in 2018, following average annual growth of 6.2% during 2014-2017. This was supported by improvements in business confidence and consumer demand, growth in tourism and exports sectors and public and private sector investment in residential and commercial construction projects. The industry is expected to continue to expand over the forecast period (2019-2023), however, with a decelerating growth rate towards the latter part of forecast period. The industry's output is forecasted to register growth rates of 4.8% in 2019 and 3.2% in 2020. Growth will be driven by the government's efforts to develop the country's renewable energy infrastr......
$1495

Construction in New Zealand – Key Trends and Opportunities to 2023

Construction in New Zealand - Key Trends and Opportunities to 2023 Summary The pace of expansion in New Zealand's construction industry slowed in 2017 and 2018, as investment growth was undermined by weak investor confidence as a result of a shortage of a skilled workforce, high wages and a lower profit margin. The industry's growth will pick up pace in 2019, in part supported by government plans to boost infrastructure spending. In real terms, New Zealand's construction industry's output grew at a compound annual growth rate (CAGR) of 4.85% during the review period (2014-2018). Although output growth slowed in 2017 and 2018, the general upward trend can be attributed to public and private sector investment in residential and transport infrastructure projects. Under the National Land Tr......
$1495

Construction in South Korea – Key Trends and Opportunities to 2023

Construction in South Korea - Key Trends and Opportunities to 2023 Summary South Korea's construction industry suffered a downturn in 2018, contracting by 4.2% in real terms that year, following an average annual growth of 5.9% during the preceding four years. This decline can be attributed to a reduction in the government spending on infrastructure, a fall in the country's total exports and a decline in the total construction permits issued. The country's construction industry is expected to contract further in real terms - by 5% in 2019 and 1.7% in 2020 - before regaining growth momentum. This decline can be attributed to reduced infrastructure spending, an increase in minimum wages, tighter housing regulations and government policies. Over the remaining part of the forecast period (2......
$1495

Project Insight – Airport Construction Projects: Asia-Pacific

Project Insight - Airport Construction Projects: Asia-Pacific Summary GlobalData's Construction Intelligence Center (CIC) is currently tracking airport construction projects in Asia-Pacific with a total value of US$332.3 billion. Of this, US$133.7 billion is in the execution stage and US$98.7 billion is in the planning stage. China accounts for the highest value with US$84.2 billion, followed by the Philippines with projects valuing US$58.0 billion. Vietnam and Hong Kong follow with airport construction projects with a value of US$32.4 billion and US$21.1 billion respectively. The highest value airport project is the US$26.0 billion Global Gateway Integrated Multi-Modal Transport and Logistics Hub in the Philippines, which includes the construction of an airport to accommodate 90 million......
$1950
We use cookies to deliver the best possible experience on our website.
By continuing to use this site, or closing this box, you consent to our use of cookies. To learn more, visit our Privacy Policy