Construction in Ireland - Key Trends and Opportunities to 2021

Published: November 2017
No. of Pages: 75
    ReportsandReports

Synopsis

The Irish construction industry is expected to continue to grow over the forecast period. Industry growth will be supported by the Capital Investment Plan 2016–2021 and Action Plan for Rural Development, as well as population growth, urbanization, and government policies with regards to public-private partnership (PPPs). Growth in the construction industry is also expected to be driven by the government’s initiatives to provide affordable housing units to the low- and middle-income population, coupled with a plan to increase the share of renewable energy in the nation’s overall energy mix.

Under the Capital Investment Plan 2016–2021, the government plans to invest EUR42.0 billion (US$44.6 billion) to develop the country’s overall infrastructure by 2021. Accordingly, the government plans to invest EUR3.0 billion (US$3.3 billion) on the construction of residential units across the country by 2021.

Under the Action Plan for Rural Development, the government plans to improve both the economic and social conditions of rural Ireland. Accordingly, with an investment of EUR435.0 million (US$481.0 million), the government plans to construct 90 public nursing facilities and community hospitals in rural areas by 2021.

The industry’s output value is expected to grow at a compound annual growth rate (CAGR) of 7.29% in real terms over the forecast period.

Summary

Timetric’s Construction in Ireland – Key Trends and Opportunities to 2021 report provides detailed market analysis, information and insights into the Irish construction industry, including:

• The Irish construction industry's growth prospects by market, project type and construction activity

• Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in the Irish construction industry

• Profiles of the leading operators in the Irish construction industry

Scope

This report provides a comprehensive analysis of the construction industry in Ireland. It provides:

• Historical (2012-2016) and forecast (2017-2021) valuations of the construction industry in Ireland using construction output and value-add methods

• Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector

• Breakdown of values within each project type, by type of activity (new construction, repair and maintenance, refurbishment and demolition) and by type of cost (materials, equipment and services)

• Detailed profiles of the leading construction companies in Ireland

Reasons To Buy

• Identify and evaluate market opportunities using Timetric'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 Timetric's critical and actionable insight.

• Assess business risks, including cost, regulatory and competitive pressures.

• Evaluate competitive risk and success factors.

Key Highlights

• Timetric expects the residential construction market to retain its position as the largest sector over the forecast period, accounting for 39.2% of the industry’s total value in 2021, driven by the government’s efforts to build affordable houses for middle- and low-income citizens, coupled with country’s rising population and increasing urbanization, as well as positive developments in regional economic conditions.

• The government is investing in tourism infrastructure with an aim to increase tourist arrivals in the country, which in turn will support the growth of the commercial construction market over the forecast period. The government plans to invest EUR106.0 million (US$112.5 million) on the tourism sector by 2022.

• Foreign direct investment (FDI) has been vital to Ireland’s economic growth. In a bid to accelerate the flow of FDI, in March 2017 the government launched the Ireland Connected strategy, with an aim to attract foreign manufacturing companies and increase country exports. Under this strategy, the government plans to increase export values by 26.0%, up from EUR20.6 billion (US$22.9 billion) in 2015 to EUR26.0 billion (US$28.8 billion) in 2020. This is expected to support the construction activity in the industrial sector.

• Timetric expects the infrastructure construction market to grow at a CAGR of 8.95% in nominal terms, driven by the government’s focus on the development of fast and reliant transport infrastructure. Under the Capital Investment Program 2016–2021, the government plans to invest EUR12.0 billion (US$13.3 billion) on the development of transport infrastructure through the PPP model by 2021.

• Under the Renewable Energy Action Plan, the government plans to produce 40.0%, 12.0% and 10.0% of the country’s total electricity, heat and transport consumption from renewable sources respectively by 2020. This is expected to drive the growth of energy and utility construction market over the forecast period.

Published By: Timetric
Product Code: Timetric2864


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