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Global Markets Direct Publishes Construction in Croatia - Key Trends and Opportunities to 2015 - The Croatian construction industry by individual market - GlobalMarketsDirect.com
Global Markets Direct Publishes Construction in Croatia - Key Trends and Opportunities to 2015

 

NewswireToday - /newswire/ - London, United Kingdom, 2012/07/19 - The Croatian construction industry by individual market - GlobalMarketsDirect.com.

   
 
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The Croatian construction industry grew at a CAGR of 0.25% in the review period. The global financial crisis affected the Croatian economy badly, and its construction industry lost 6.0% in 2009 and a further 17.1% in 2010. In 2009, the country’s credit markets remained frozen because of the government’s refinancing needs, and as a result were unable to provide any stimulus to the market.

In 2010, infrastructure construction was the largest market in terms of market share, accounting for a 48.6% share of the total industry. The market declined at a CAGR of 2.40% over the review period, due to a lack of public investment. Market growth was largely affected by the decline in the sewage and water infrastructure categories, which recorded CAGRs of -6.94% and -4.40% respectively.

Before the financial crisis, the government of Croatia launched various schemes to encourage industries to set up plants in the country, but these projects were mostly cancelled or postponed as the financial crisis took hold in 2009. This resulted in the limited growth of the industrial construction market, which registered a CAGR of 3.26% over the review period, largely driven by growth in refinery buildings and waste processing plants with CAGRs of 16.41% and 5.54%, respectively.

The commercial construction market grew at a CAGR of 1.54% over the review period, with growth largely driven by the retail and office building categories which grew at CAGRs of 3.76% and 2.62% respectively. Helped by the growing population, the residential construction market was the least affected by the credit crisis. The market grew with the highest review-period CAGR of 4.56%, led primarily by the residential building redevelopment and new multi-family housing categories with CAGRs of 8.14% and 4.25% respectively.

The institutional construction market grew at a CAGR of 2.76% over the review period, with the institutional buildings and research facilities categories recording CAGRs of 8.53% and 4.34%, respectively.

The Croatian construction industry is expected to witness a marginal growth of 2.1% during 2010, and is expected to grow at a CAGR of 3.13% over the forecast period. Growth is expected to be led primarily by the infrastructure construction market, which is forecast to grow at a CAGR of 4.36% during the forecast period.

 
 
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Global Markets Direct Publishes Construction in Croatia - Key Trends and Opportunities to 2015

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