Construction in Austria - Key Trends and Opportunities to 2023

Construction in Austria - Key Trends and Opportunities to 2023

Summary

The Austrian construction industry registered growth of 3.1% and 2.8% in real terms in 2017 and 2018 respectively, following an average annual growth of -1.3% during 2014-2016. This growth can be attributed to positive developments in economic conditions, improvement in consumer confidence and investments in the commercial, industrial and office construction projects.

Over the forecast period (2019-2023), the industrys output is expected to be supported by the governments efforts to develop the countrys transport, residential, and energy and utilities infrastructure. The implementation of the Austrian Climate and Energy Strategy will drive investment in the development and expansion of wind and hydroelectric power plants in the country. Under this, the government plans to install 100,000 roof-top photovoltaic systems and storage plans during 2019-2023, in order to increase the electricity generation by individuals and private businesses and reduce dependency on the government distribution and transmission network. Furthermore, an increase in the number of new building approvals issued and investments in the research and development and telecommunication sectors are also expected to boost new construction activity over the forecast period.

The industrys output value in real terms is expected to rise at a compound annual growth rate (CAGR) of 1.75% over the forecast period, compared to 1.03% during the review period (2014-2018).

Construction in Austria - Key Trends and Opportunities to 2023 report provides detailed market analysis, information and insights into the Austrian construction industry, including -

- The Austrian construction industrys 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 Austrian 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

- They expects the residential construction market to remain the largest market over the forecast period and account for 42.1% of the industrys total value in 2023. Rising consumer confidence and an increase in disposable income is expected to support the residential construction markets output over the forecast period. With an investment of EUR5.8 billion (US$6.8 billion), the governments efforts to construct 30,000 housing units by 2022 will support the markets growth over the forecast-period.
- The energy and utilities construction markets forecast-period growth will be supported by the governments focus on climate protection and adhering to the international climate targets. In May 2018, the federal government introduced the Austrian Climate and Energy Strategy, through which it aims to reduce greenhouse gas emissions by 36% compared to 2005 levels, and produce 100% of electricity from renewable energy sources by 2030, as compared to 72% in 2018.
- They expects the infrastructure construction market to record a forecast-period CAGR of 5.61% in nominal terms, driven by the governments efforts to develop and modernize the countrys transport infrastructure. To overcome the problem of traffic congestion and increase the road capacity, Asfinag, a public-owned company that plans, builds and maintains roads in Austria, plans to invest EUR141.0 million (US$164.0 million) in 2019 to upgrade the Voest Bridge in the city of Linz, as well as EUR940.0 million (US$1093.2 million) to develop roads in Upper Austria during 2019-2024.
- Forecast-period growth in the institutional construction market is expected to be driven by the governments focus on research and development (R&D) activities in the country. According to Statistics Austria, the total expenditure on R&D in the country grew by 6.3% in 2018, going from EUR11.6 billion (US$131 billion) in 2017 to EUR12.2 billion (US$14.4 billion) that year; it is further estimated to reach EUR12.8 billion (US$14.9 billion) in 2019. In order to attract more investment in the R&D sector, the government is providing a research premium through which companies and individuals can claim 14% of their total research expenditure.
- The total construction project pipeline in Austria - as tracked and including all mega projects with a value above US$25 million - stands at EUR55.7 billion (US$65.6 billion). The pipeline, which includes all projects from pre-planning to execution, is skewed towards late-stage projects, with 62.2% of the pipeline value being in projects in the pre-execution and execution stages as of May 2019.

Scope

This report provides a comprehensive analysis of the construction industry in Austria. It provides -
- Historical (2014-2018) and forecast (2019-2023) valuations of the construction industry in Austria, 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 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 critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.

1 Executive Summary
2 Construction Outlook: At-a-glance
3 Latest News and Indicators
4 Key Drivers and Risks
4.1. Economic Performance
4.2. Political Environment
4.3. Demographics
4.4. Risk Profile
5 Construction Outlook
5.1. All Construction
5.1.1. Outlook
5.1.2. Project analytics
5.2. Commercial Construction
5.2.1. Outlook
5.2.2. Project analytics
5.3. Industrial Construction
5.3.1. Outlook
5.3.2. Project analytics
5.4. Infrastructure Construction
5.4.1. Outlook
5.4.2. Project analytics
5.5. Energy and Utilities Construction
5.5.1. Outlook
5.5.2. Project analytics
5.6. Institutional Construction
5.6.1. Outlook
5.6.2. Project analytics
5.7. Residential Construction
5.7.1. Outlook
5.7.2. Project analytics
6 Key Industry Participants
6.1. Contractors
6.2. Consultants
7 Appendix
7.1. What is this Report About?
7.2. Definitions
8 About GlobalData
8.1. GlobalData at a Glance
8.2. GlobalData Construction
8.3. Disclaimer
8.4. Contact Us

List Of Tables


Table 1: Construction Outlook
Table 2: Austria, Key Economic Indicators
Table 3: Austria, Construction Output Value (nominal, EUR Million)
Table 4: Austria, Construction Output Value (nominal, US$ Million)
Table 5: Austria, Top Commercial Construction Projects by Value
Table 6: Austria, Top Industrial Construction Projects by Value
Table 7: Austria, Top Infrastructure Construction Projects by Value
Table 8: Austria, Top Energy and Utilities Construction Projects by Value
Table 9: Austria, Top Institutional Construction Projects by Value
Table 10: Austria, Top Residential and Mixed-Use Construction Projects by Value
Table 11: Austria, Key Contractors
Table 12: Austria, Key Consultants
Table 13: GlobalData Construction Market Definitions
Table 14: Construction Risk Index Ratings and Scores

List Of Figures


Figure 1: Key Markets, Construction Output Growth Matrix and Risk Matrix
Figure 2: Austria, Construction Projects Pipeline by Sector (EUR Billion)
Figure 3: Austria, New Building Approvals (Total Numbers)
Figure 4: Austria, House Price Index (At 2015 Base Prices)
Figure 5: Austria, Construction New Orders Index
Figure 6: Austria, Risk Profile
Figure 7: Austria, Risk Comparison
Figure 8: Austria, Construction Output Value (Real, US$ Billion 2017 prices and exchange rate)
Figure 9: Austria, Construction Output Value, Growth Matrix
Figure 10: Austria, Construction Output Value, by Sector (EUR Million), 2014-2023
Figure 11: Austria, Construction Projects Pipeline, Projected Annual Spending by Stage (EUR Million), 2018-2023
Figure 12: Austria, Construction Projects Pipeline, Value by Stage (EUR Million)
Figure 13: Austria, Commercial Construction Output by Project Type (EUR Million), 2014-2023
Figure 14: Austria, Commercial Construction Projects Pipeline, Value by Stage (EUR Million)
Figure 15: Austria, Commercial Construction Projects Pipeline, Projected Annual Spending by Stage (EUR Million), 2018-2023
Figure 16: Austria, Industrial Construction Output by Project Type (EUR Million), 2014-2023
Figure 17: Austria, Industrial Construction Projects Pipeline, Value by Stage (EUR Million)
Figure 18: Austria, Industrial Construction Projects Pipeline, Projected Annual Spending by Stage (EUR Million), 2018-2023
Figure 19: Austria, Infrastructure Construction Output by Project Type (EUR Million), 2014-2023
Figure 20: Austria, Infrastructure Construction Projects Pipeline, Value by Stage (EUR Million)
Figure 21: Austria, Infrastructure Construction Projects Pipeline, Projected Annual Spending by Stage (EUR Million), 2018-2023
Figure 22: Austria, Energy and Utilities Construction Output by Project Type (EUR Million), 2014-2023
Figure 23: Austria, Energy and Utilities Construction Projects Pipeline, Value by Stage (EUR Million)
Figure 24: Austria, Energy and Utilities Construction Projects Pipeline, Projected Annual Spending by Stage (EUR Million), 2018-2023
Figure 25: Austria, Institutional Construction Output by Project Type (EUR Million), 2014-2023
Figure 26: Austria, Institutional Construction Projects Pipeline, Value by Stage (EUR Million)
Figure 27: Austria, Institutional Construction Projects Pipeline, Projected Annual Spending by Stage (EUR Million), 2018-2023
Figure 28: Austria, Residential Construction Output by Project Type (EUR Million), 2014-2023
Figure 29: Austria, Residential Construction Projects Pipeline, Value by Stage (EUR Million)
Figure 30: Austria, Residential Construction Projects Pipeline, Projected Annual Spending by Stage (EUR Million), 2018-2023
Figure 31: Austria, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 32: Austria, Headquarters of Foreign Contractors (% of Project Pipeline with Foreign Contractor)
Figure 33: Austria, Headquarters of Key Consultants (% of Total Project Pipeline)
Figure 34: Austria, Headquarters of Foreign Consultants (% of Project Pipeline with Foreign Consultants)

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