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Construction in Norway Key Trends and Opportunities to 2020

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Synopsis


In real terms, the Norwegian construction industry grew during the review period (20112015), registering a compound annual growth rate (CAGR) of 5.38%. Construction activity was weak in 2013 due to depressed economic conditions following a decline in oil prices. Oil and gas extraction accounts for over 25% of the countrys GDP. Consequently, limited business confidence adversely affected investments. The industry subsequently recovered, driven by the governments move to diversify the economy away from oil by focusing on other sectors such as the construction, healthcare and industrial sectors.

Over the forecast period (20162020), the industry is expected to expand, albeit slowly, posting a CAGR of 4.04%. Improving investor and consumer confidence is expected to drive investments in residential, infrastructure, and commercial construction.

Government efforts to balance demand and supply for housing and energy are expected to support construction industry growth over the forecast period. According to Statistics Norway, the number of new residential building permits issued in the country grew by 14.9% in 2015 relative to 2014.

There are risks associated with the Norwegian construction industry outlook; most notably, low oil prices and its transitional economy. Low oil prices are expected to affect government earnings from oil exports, as 25% of the countrys total economic output is dependent on the oil and gas sector. Any decline in oil revenues is therefore expected to negatively weigh on government funding of the construction industry.

Government efforts to develop the countrys transport infrastructure and improve regional connectivity are expected to support the construction industrys growth over the forecast period. As part of the move, the government is implementing the fourth edition of the National Transport Plan (NTP) over the period 20142023, with a total investment of NOK508.0 billion (US$86.5 billion).

Summary


Timetrics Construction in Norway Key Trends and Opportunities to 2020 report provides detailed market analysis, information and insights into the Norwegian construction industry including:

Norwegian construction industrys growth prospects by market, project type and construction activity

Analysis of equipment, material and service costs for each project type in Norway

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

Profiles of the leading operators in the Norwegian construction industry

Data highlights of the largest construction projects in Norway


Scope


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

Historical (2011-2015) and forecast (2016-2020) valuations of the construction industry in Norway using construction output and value-add methods

Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, 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

Detailed profiles of the leading construction companies in Norway

Reasons To Buy


Identify and evaluate market opportunities using Timetrics 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 Timetrics critical and actionable insight.

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

Evaluate competitive risk and success factors.

Key Highlights


In July 2016, the Norwegian Public Roads Administration (NPRA) announced plans to construct the worlds first floating underwater tunnel at Sognefjord which is located in Sogn og Fjordane county, Western Norway. The NPRA is planning to invest NOK198.8 billion (US$25.0 billion) to implement the project, which includes the erection of two 1,200m-long concrete tubes 30m under the water that will connect to floating pontoons. On completion in 2035, the tunnel is expected to reduce the cross-country transit time from the present 22 hours to 11 hours.

According to Statistics Norway, the average new orders value index for building construction rose by 4.1% from 115.3 in 2014 to 120.0 in 2015. The new orders value index grew by a further 5.9% in the first half of 2016, from 118.0 in JanuaryJune 2015 to 125.0 in JanuaryJune 2016.

According to Statistics Norway, the countrys seasonally adjusted average housing price index rose by 6.1% from 172.1 in 2014 to 182.6 in 2015. In the first half of 2016, the average housing price index grew further by 5.1% from 180.8 in JanuaryJune 2015 to 189.9 in JanuaryJune 2016. The highest increase was recorded in the capital Oslo (including Brum) where the average house price index rose by 11.0%, from 187.3 in JanuaryJune 2015 to 207.9 in JanuaryJune 2016.

In a bid to balance the countrys energy demand and supply, the government is focusing on generating additional energy with a focus on renewables. In July 2016, the Ministry of Petroleum and Energy (MOPE) announced plans to construct the Froyabanken offshore wind farm in the Norwegian Sea. The 1,500.0MW project involves an investment of NOK29.8 billion (US$3.8 billion) and includes the construction of a substation, power house, platform for installation of wind turbines, access roads and other related infrastructure.

In March 2015, the Norwegian National Rail Administration entered into a contract with Acciona, a renewable energy group, and Ghella, a construction company based in Italy, to build a 20km-long twin rail tunnel under the Follo Line project. The new tunnel will connect Ski and Oslo with a major focus on reducing transit times by over 50%. The project involves a total investment of NOK8.7 billion (US$1.3 billion) and is expected to be completed in 2021.
1 Executive Summary
2 Industry Outlook
2.1 Commercial Construction
2.2 Industrial Construction
2.3 Infrastructure Construction
2.4 Energy and Utilities Construction
2.5 Institutional Construction
2.6 Residential Construction
3 Key Issues and Developments
4 Market Data Analysis
4.1 Construction Output and Value Add
4.1.1 Construction output by project type
4.1.2 Construction output by cost type
4.1.3 Construction output by activity type
4.1.4 Construction value add by project type
4.2 Commercial Construction
4.2.1 Commercial construction output by project type
4.2.2 Commercial construction output by cost type
4.2.3 Commercial construction output by activity type
4.2.4 Commercial construction value add by project type
4.3 Industrial Construction
4.3.1 Industrial construction output by project type
4.3.2 Industrial construction output by cost type
4.3.3 Industrial construction output by activity type
4.3.4 Industrial construction value add by project type
4.4 Infrastructure Construction
4.4.1 Infrastructure construction output by project type
4.4.2 Infrastructure construction output by cost type
4.4.3 Infrastructure construction output by activity type
4.4.4 Infrastructure construction value add by project type
4.5 Energy and Utilities Construction
4.5.1 Energy and utilities construction output by project type
4.5.2 Energy and utilities construction output by cost type
4.5.3 Energy and utilities construction output by activity type
4.5.4 Energy and utilities construction value add by project type
4.6 Institutional Construction
4.6.1 Institutional construction output by project type
4.6.2 Institutional construction output by cost type
4.6.3 Institutional construction output by activity type
4.6.4 Institutional construction value add by project type
4.7 Residential Construction
4.7.1 Residential construction output by project type
4.7.2 Residential construction output by cost type
4.7.3 Residential construction output by activity type
4.7.4 Residential construction value add by project type
5 Company Profile: Veidekke ASA
5.1 Veidekke ASA Company Overview
5.2 Veidekke ASA Business Description
5.3 Veidekke ASA Main Products and Services
5.4 Veidekke ASA History
5.5 Veidekke ASA Company Information
5.5.1 Veidekke ASA key competitors
5.5.2 Veidekke ASA key employees
6 Company Profile: AF Gruppen ASA
6.1 AF Gruppen ASA Company Overview
6.2 AF Gruppen ASA Business Description
6.3 AF Gruppen ASA Main Services
6.4 AF Gruppen ASA History
6.5 AF Gruppen ASA Company Information
6.5.1 AF Gruppen ASA key competitors
6.5.2 AF Gruppen ASA key employees
7 Company Profile: Vedal AS
7.1 Vedal AS Company Overview
7.2 Vedal AS Main Services
7.3 Vedal AS History
7.4 Vedal AS Company Information
7.4.1 Vedal AS key competitors
7.4.2 Vedal AS key employees
8 Company Profile: Norconsult Holding AS
8.1 Norconsult Holding AS Company Overview
8.2 Norconsult Holding AS Business Description
8.3 Norconsult Holding AS Main Services
8.4 Norconsult Holding AS History
8.5 Norconsult Holding AS Company Information
8.5.1 Norconsult Holding AS key competitors
8.5.2 Norconsult Holding AS key employees
9 Company Profile: Vestfold Fjellboring AS
9.1 Vestfold Fjellboring AS Company Overview
9.2 Vestfold Fjellboring AS Main Services
9.3 Vestfold Fjellboring AS History
9.4 Vestfold Fjellboring AS Company Information
9.4.1 Vestfold Fjellboring AS key competitors
9.4.2 Vestfold Fjellboring AS key employees
10 Appendix
10.1 What is this Report About?
10.2 Definitions
10.3 Methodology
10.4 Contact Timetric
10.5 About Timetric
10.6 Timetrics Services
10.7 Disclaimer

List Of Tables

Table 1: Norwegian Construction Output by Project Type (NOK Million), 20112015
Table 2: Norwegian Construction Output by Project Type (NOK Million), 20152020
Table 3: Norwegian Construction Output by Cost Type (NOK Million), 20112015
Table 4: Norwegian Construction Output by Cost Type (NOK Million), 20152020
Table 5: Norwegian Construction Output by Activity Type (NOK Million), 20112015
Table 6: Norwegian Construction Output by Activity Type (NOK Million), 20152020
Table 7: Norwegian Construction Value Add by Project Type (NOK Million), 20112015
Table 8: Norwegian Construction Value Add by Project Type (NOK Million), 20152020
Table 9: Norwegian Commercial Construction Output by Project Type (NOK Million), 20112015
Table 10: Norwegian Commercial Construction Output by Project Type (NOK Million), 20152020
Table 11: Norwegian Commercial Construction Output by Cost Type (NOK Million), 20112015
Table 12: Norwegian Commercial Construction Output by Cost Type (NOK Million), 20152020
Table 13: Norwegian Commercial Construction Output by Activity Type (NOK Million), 20112015
Table 14: Norwegian Commercial Construction Output by Activity Type (NOK Million), 20152020
Table 15: Norwegian Commercial Construction Value Add by Project Type (NOK Million), 20112015
Table 16: Norwegian Commercial Construction Value Add by Project Type (NOK Million), 20152020
Table 17: Norwegian Industrial Construction Output by Project Type (NOK Million), 20112015
Table 18: Norwegian Industrial Construction Output by Project Type (NOK Million), 20152020
Table 19: Norwegian Industrial Construction Output by Cost Type (NOK Million), 20112015
Table 20: Norwegian Industrial Construction Output by Cost Type (NOK Million), 20152020
Table 21: Norwegian Industrial Construction Output by Activity Type (NOK Million), 20112015
Table 22: Norwegian Industrial Construction Output by Activity Type (NOK Million), 20152020
Table 23: Norwegian Industrial Construction Value Add by Project Type (NOK Million), 20112015
Table 24: Norwegian Industrial Construction Value Add by Project Type (NOK Million), 20152020
Table 25: Norwegian Infrastructure Construction Output by Project Type (NOK Million), 20112015
Table 26: Norwegian Infrastructure Construction Output by Project Type (NOK Million), 20152020
Table 27: Norwegian Infrastructure Construction Output by Cost Type (NOK Million), 20112015
Table 28: Norwegian Infrastructure Construction Output by Cost Type (NOK Million), 20152020
Table 29: Norwegian Infrastructure Construction Output by Activity Type (NOK Million), 20112015
Table 30: Norwegian Infrastructure Construction Output by Activity Type (NOK Million), 20152020
Table 31: Norwegian Infrastructure Construction Value Add by Project Type (NOK Million), 20112015
Table 32: Norwegian Infrastructure Construction Value Add by Project Type (NOK Million), 20152020
Table 33: Norwegian Energy and Utilities Construction Output by Project Type (NOK Million), 20112015
Table 34: Norwegian Energy and Utilities Construction Output by Project Type (NOK Million), 20152020
Table 35: Norwegian Energy and Utilities Construction Output by Cost Type (NOK Million), 20112015
Table 36: Norwegian Energy and Utilities Construction Output by Cost Type (NOK Million), 20152020
Table 37: Norwegian Energy and Utilities Construction Output by Activity Type (NOK Million), 20112015
Table 38: Norwegian Energy and Utilities Construction Output by Activity Type (NOK Million), 20152020
Table 39: Norwegian Energy and Utilities Construction Value Add by Project Type (NOK Million), 20112015
Table 40: Norwegian Energy and Utilities Construction Value Add by Project Type (NOK Million), 20152020
Table 41: Norwegian Institutional Construction Output by Project Type (NOK Million), 20112015
Table 42: Norwegian Institutional Construction Output by Project Type (NOK Million), 20152020
Table 43: Norwegian Institutional Construction Output by Cost Type (NOK Million), 20112015
Table 44: Norwegian Institutional Construction Output by Cost Type (NOK Million), 20152020
Table 45: Norwegian Institutional Construction Output by Activity Type (NOK Million), 20112015
Table 46: Norwegian Institutional Construction Output by Activity Type (NOK Million), 20152020
Table 47: Norwegian Institutional Construction Value Add by Project Type (NOK Million), 20112015
Table 48: Norwegian Institutional Construction Value Add by Project Type (NOK Million), 20152020
Table 49: Norwegian Residential Construction Output by Project Type (NOK Million), 20112015
Table 50: Norwegian Residential Construction Output by Project Type (NOK Million), 20152020
Table 51: Norwegian Residential Construction Output by Cost Type (NOK Million), 20112015
Table 52: Norwegian Residential Construction Output by Cost Type (NOK Million), 20152020
Table 53: Norwegian Residential Construction Output by Activity Type (NOK Million), 20112015
Table 54: Norwegian Residential Construction Output by Activity Type (NOK Million), 20152020
Table 55: Norwegian Residential Construction Value Add by Project Type (NOK Million), 20112015
Table 56: Norwegian Residential Construction Value Add by Project Type (NOK Million), 20152020
Table 57: Veidekke ASA, Key Facts
Table 58: Veidekke ASA, Main Products and Services
Table 59: Veidekke ASA, History
Table 60: Veidekke ASA, Key Employees
Table 61: AF Gruppen ASA, Key Facts
Table 62: AF Gruppen ASA, Main Services
Table 63: AF Gruppen ASA, History
Table 64: AF Gruppen ASA, Key Employees
Table 65: Vedal AS, Key Facts
Table 66: Vedal AS, Main Services
Table 67: Vedal AS, History
Table 68: Vedal AS, Key Employees
Table 69: Norconsult Holding AS, Key Facts
Table 70: Norconsult Holding AS, Main Services
Table 71: Norconsult Holding AS, History
Table 72: Norconsult Holding AS, Key Employees
Table 73: Vestfold Fjellboring AS, Key Facts
Table 74: Vestfold Fjellboring AS, Main Services
Table 75: Vestfold Fjellboring AS, History
Table 76: Vestfold Fjellboring AS, Key Employees
Table 77: Timetric Construction Market Definitions

List Of Figures

Figure 1: Norwegian Construction Output (Real US$ 2010, Million), 20112020
Figure 2: Growth Matrix for Construction Output in Norway (US$ Million), 20112020
Figure 3: Norwegian Construction Output by Project Type (NOK Million), 20112020
Figure 4: Norwegian Construction Output by Cost Type (NOK Million), 20112020
Figure 5: Norwegian Construction Output by Activity Type (NOK Million), 20112020
Figure 6: Norwegian Construction Value Add by Project Type (NOK Million), 20112020
Figure 7: Norwegian Commercial Construction Output by Project Type (NOK Million), 20112020
Figure 8: Norwegian Commercial Construction Output by Cost Type (NOK Million), 20112020
Figure 9: Norwegian Commercial Construction Output by Activity Type (NOK Million), 20112020
Figure 10: Norwegian Commercial Construction Value Add by Project Type (NOK Million), 20112020
Figure 11: Norwegian Industrial Construction Output by Project Type (NOK Million), 20112020
Figure 12: Norwegian Industrial Construction Output by Cost Type (NOK Million), 20112020
Figure 13: Norwegian Industrial Construction Output by Activity Type (NOK Million), 20112020
Figure 14: Norwegian Industrial Construction Value Add by Project Type (NOK Million), 20112020
Figure 15: Norwegian Infrastructure Construction Output by Project Type (NOK Million), 20112020
Figure 16: Norwegian Infrastructure Construction Output by Cost Type (NOK Million), 20112020
Figure 17: Norwegian Infrastructure Construction Output by Activity Type (NOK Million), 20112020
Figure 18: Norwegian Infrastructure Construction Value Add by Project Type (NOK Million), 20112020
Figure 19: Norwegian Energy and Utilities Construction Output by Project Type (NOK Million), 20112020
Figure 20: Norwegian Energy and Utilities Construction Output by Cost Type (NOK Million), 20112020
Figure 21: Norwegian Energy and Utilities Construction Output by Activity Type (NOK Million), 20112020
Figure 22: Norwegian Energy and Utilities Construction Value Add by Project Type (NOK Million), 20112020
Figure 23: Norwegian Institutional Construction Output by Project Type (NOK Million), 20112020
Figure 24: Norwegian Institutional Construction Output by Cost Type (NOK Million), 20112020
Figure 25: Norwegian Institutional Construction Output by Activity Type (NOK Million), 20112020
Figure 26: Norwegian Institutional Construction Value Add by Project Type (NOK Million), 20112020
Figure 27: Norwegian Residential Construction Output by Project Type (NOK Million), 20112020
Figure 28: Norwegian Residential Construction Output by Cost Type (NOK Million), 20112020
Figure 29: Norwegian Residential Construction Output by Activity Type (NOK Million), 20112020
Figure 30: Norwegian Residential Construction Value Add by Project Type (NOK Million), 20112020

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Reports Details

Published Date : Sep 2016
No. of Pages :79
Country :Norway
Category :Construction
Publisher :Timetric
Report Delivery By :Email
Report Delivery Time :12 to 24 hours after placing the order.

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