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Construction in Ireland Key Trends and Opportunities to 2017 Reports AbrasivesHub.com - The Irish construction industry valued EUR10.9 billion (US$15.2 billion) in 2012, after declining at a CAGR of -28.25% over the review period (2008 2012)
Construction in Ireland Key Trends and Opportunities to 2017 Reports AbrasivesHub.com

 

NewswireToday - /newswire/ - Bunratty, Co Clare, Ireland, 2013/08/30 - The Irish construction industry valued EUR10.9 billion (US$15.2 billion) in 2012, after declining at a CAGR of -28.25% over the review period (2008 2012).

   
 
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In Ireland all construction categories registered negative growth, largely as a result of the economic slowdown experienced after the financial crisis and austerity measures implemented by the government. The Irish economy entered recession in 2008 and contracted by -5.2%. In 2009, the financial crisis also severely affected the country's economy. Ireland's GDP registered a growth rate of 1.4% and increased in value from EUR156.5 billion (US$207.8 billion) in 2010 to EUR158.7 billion (US$221.1 billion) in 2011. Ireland's budget deficit stood at 8.2% of its GDP in 2012, well above the EU's limit of 3%. The government plans to implement budget cuts and tax increases to reduce the deficit to 7.5% of GDP in 2013 and less than 3% by 2015. The global financial crisis adversely affected consumer confidence, causing a decline in investment in the construction industry.

Scope

• This report provides a comprehensive analysis of the construction industry in Ireland;
• Historical (2008-2012) and forecast (2013-2017) valuations of the construction market in Ireland using the construction output and value-add methods;
• Segmentation by sector (commercial, industrial, infrastructure, institutional and residential) and by project type;
• 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);
• Analysis of key construction industry issues, including regulation, cost management, funding and pricing;
• Assessment of the competitive environment using Porter’s Five Forces;
• Detailed profiles of the leading construction companies in Ireland;
• Profiles of the top ten construction mega-projects in Ireland by value.

Key highlights

• The Irish construction industry valued EUR10.9 billion (US$15.2 billion) in 2012, after declining at a CAGR of -28.25% over the review period (2008 2012). All construction categories registered negative growth, largely as a result of the economic slowdown experienced after the financial crisis and austerity measures implemented by the government.
• Commercial construction recorded a CAGR of -32.93% during the review period, the largest decline out of all construction markets in Ireland. The Irish retail sector has seen subdued levels of investment since 2008; fear of government spending cuts and tax hikes are discouraging businesses from making large investments. Consumer spending is cautious, owing to high unemployment, low wage growth and a depressed economic outlook.
• The country’s budget deficit stands above the prescribed limit of 3%, which has forced the government to implement austerity measures including health and education sector cuts. Consequently, the institutional construction market is expected to record a slow CAGR of 0.06% over the forecast period, to value EUR1 billion (US$1.4 billion) in 2017.
• The Irish seasonally-adjusted standardized unemployment rate stood at 14.8% in 2012, while the budget deficit reached 8.2% of GDP in the same year. Moreover, the domestic demand for goods and services declined.
• The government has announced real estate investment trusts and reduced VAT for the tourism sector in order to support the commercial construction market.

• Identify and evaluate market opportunities using our standardized valuation and forecasting methodologies;
• Assess market growth potential at a micro-level via 600+ time series data forecasts;
• Understand the latest industry and market trends;
• Formulate and validate business strategies by leveraging our critical and actionable insight;
• Assess business risks, including cost, regulatory and competitive pressures;
• Evaluate competitive risk and success factors.

 
 
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Written by / Agency / Source: Abrasives Hub / Jovian Ltd

 
 

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Construction in Ireland Key Trends and Opportunities to 2017 Reports AbrasivesHub.com

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