Construction in Germany - Key Trends and Opportunities to 2025 (Q3 2021)
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Construction in Germany - Key Trends and Opportunities to 2025 (Q3 2021)
Summary
The German construction industry remained resilient in 2020, despite the COVID-19 outbreak which weakened other sectors of the economy, expanding by 3.8% in real terms - up from growth of 0.1% in 2019. However, the industry contracted by 2.1% in H1 2021, as a result of a third wave of infections in the country which saw lockdown measures reimposed in the first quarter of the year.
Despite the contraction in the first half of 2021, GlobalData expects the construction industry to recover in the remaining part of the year, and grow by just 0.2% in 2021. Over the remainder of the forecast period, the industry is expected to expand at an annual average rate of 1.9% between 2022 and 2025. The industry will be supported by the governments focus on the development of green infrastructure as part of its climate change strategy. Improvements in consumer confidence and positive developments in regional economic conditions will also provide momentum. The government has supported the construction sector through its fiscal policy response to the Coronavirus (COVID-19) outbreak, announcing an additional EUR3.1 billion (US$3.5 billion) each year between 2021 and 2024 on public investment in infrastructure, including roads and railways and the construction of affordable housing.
The construction of the Fehmarn belt underwater tunnel between Germany and Denmark, which is worth EUR7 billion (US$7.8 billion), will underpin activity in the transport infrastructure sector over the medium term. Growth will also be supported by the 10-year plan to invest EUR86 billion (US$94.7 billion) on the maintenance and modernization of the countrys rail network between 2020 and 2030.
In June 2021, the German cabinet approved the 2022 draft budget, under which the government plans to take new debt of EUR100 billion (US$119 billion) to finance more COVID-19 measures. Following this, the total investment on the pandemic during 2020-2021 reached EUR470 billion (US$535.6 billion). The downside to this, however, is that the governments budget for public investments will decrease significantly by 12.6%, falling from EUR59.3 billion (US$67.6 billion) in 2021 to EUR51.8 billion (US$59 billion) in 2022.
This report provides detailed market analysis, information and insights into the German construction industry, including -
- The German 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 German construction industry
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.
Scope
This report provides a comprehensive analysis of the construction industry in Germany. It provides -
- Historical (2016-2020) and forecast (2021-2025) valuations of the construction industry in Germany, 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 GlobalDatas 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 GlobalDatas critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
Summary
The German construction industry remained resilient in 2020, despite the COVID-19 outbreak which weakened other sectors of the economy, expanding by 3.8% in real terms - up from growth of 0.1% in 2019. However, the industry contracted by 2.1% in H1 2021, as a result of a third wave of infections in the country which saw lockdown measures reimposed in the first quarter of the year.
Despite the contraction in the first half of 2021, GlobalData expects the construction industry to recover in the remaining part of the year, and grow by just 0.2% in 2021. Over the remainder of the forecast period, the industry is expected to expand at an annual average rate of 1.9% between 2022 and 2025. The industry will be supported by the governments focus on the development of green infrastructure as part of its climate change strategy. Improvements in consumer confidence and positive developments in regional economic conditions will also provide momentum. The government has supported the construction sector through its fiscal policy response to the Coronavirus (COVID-19) outbreak, announcing an additional EUR3.1 billion (US$3.5 billion) each year between 2021 and 2024 on public investment in infrastructure, including roads and railways and the construction of affordable housing.
The construction of the Fehmarn belt underwater tunnel between Germany and Denmark, which is worth EUR7 billion (US$7.8 billion), will underpin activity in the transport infrastructure sector over the medium term. Growth will also be supported by the 10-year plan to invest EUR86 billion (US$94.7 billion) on the maintenance and modernization of the countrys rail network between 2020 and 2030.
In June 2021, the German cabinet approved the 2022 draft budget, under which the government plans to take new debt of EUR100 billion (US$119 billion) to finance more COVID-19 measures. Following this, the total investment on the pandemic during 2020-2021 reached EUR470 billion (US$535.6 billion). The downside to this, however, is that the governments budget for public investments will decrease significantly by 12.6%, falling from EUR59.3 billion (US$67.6 billion) in 2021 to EUR51.8 billion (US$59 billion) in 2022.
This report provides detailed market analysis, information and insights into the German construction industry, including -
- The German 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 German construction industry
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.
Scope
This report provides a comprehensive analysis of the construction industry in Germany. It provides -
- Historical (2016-2020) and forecast (2021-2025) valuations of the construction industry in Germany, 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 GlobalDatas 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 GlobalDatas critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
TABLE OF CONTENTS
Table of Contents
1 Executive Summary
2 Construction Industry: At-a-Glance
3 Context
3.1 Economic Performance
3.2 Political Environment and Policy
3.3 Demographics
3.4 COVID-19 Status
3.5 Risk Profile
4 Construction Outlook
4.1 All Construction
- Outlook
- Latest news and developments
- Construction Projects Momentum Index
4.2 Commercial Construction
- Outlook
- Project analytics
- Latest news and developments
4.3 Industrial Construction
- Outlook
- Project analytics
- Latest news and developments
4.4 Infrastructure Construction
- Outlook
- Project analytics
- Latest news and developments
4.5 Energy and Utilities Construction
- Outlook
- Project analytics
- Latest news and developments
4.6 Institutional Construction
- Outlook
- Project analytics
- Latest news and developments
4.7 Residential Construction
- Outlook
- Project analytics
- Latest news and developments
5 Key Industry Participants
5.1 Contractors
5.2 Consultants
6 Construction Market Data
7 Appendix
7.1 What is this Report About?
7.2 Definitions
7.3 CRI Methodology
7.4 GlobalData Construction
Contact Us
Table 1: Construction Industry Key Data
Table 2: Germany, Key Economic Indicators
Table 3: Germany, Commercial Construction Output by Project Type (Real % Change), 2016-2025
Table 4: Germany, Top Commercial Construction Projects by Value
Table 5: Germany, Industrial Construction Output by Project Type (Real % Change), 2016-2025
Table 6: Germany, Top Industrial Construction Projects by Value
Table 7: Germany, Infrastructure Construction Output by Project Type (Real % Change), 2016-2025
Table 8: Germany, Top Infrastructure Construction Projects by Value
Table 9: Germany, Energy and Utilities Construction Output by Project Type (Real % Change), 2016-2025
Table 10: Germany, Top Energy and Utilities Construction Projects by Value
Table 11: Germany, Institutional Construction Output by Project Type (Real % Change), 2016-2025
Table 12: Germany, Top Institutional Construction Projects by Value
Table 13: Germany, Residential Construction Output by Project Type (Real % Change), 2016-2025
Table 14: Germany, Top Residential Construction Projects by Value
Table 15: Germany, Key Contractors
Table 16: Germany, Key Consultants
Table 17: Germany, Construction Output Value (Real, US$ Million)
Table 18: Germany, Construction Output Value (Nominal, EUR Million)
Table 19: GlobalData Construction Market Definitions
Table 20: Risk Dimensions
Table 21: Ratings, Scores and Definitions
Figure 1: Western Europe, Construction Output (Real % Change), 2020 and 2021
Figure 2: Germany, Construction Projects Pipeline by Sector (US$ Billion)
Figure 3: Germany, COVID-19 Confirmed Cases
Figure 4: Germany, Risk Summary
Figure 5: Germany, Risk Regional Comparison
Figure 6: Germany, Construction Output Value (Real, US$ Billion, 2017 Prices and Exchange Rate), 2016-2025
Figure 7: Germany, Construction Output Value, by Sector (Real, US$ Million), 2016-2025
Figure 8: Germany, Construction Value Add, 2015 Chained Linked Volume Measures (EUR Billion)
Figure 9: Germany, Total Fixed Capital Formation, 2015 Current Prices (EUR billion)
Figure 10: Germany, New Orders Value Index for Building Construction and Civil Engineering Works, % Change, YoY
Figure 11: Germany, Total Number of Building Permits Approved, % Change, YoY
Figure 12: Germany, Construction Turnover (Companies with 20 and more persons employed), % Change, YoY
Figure 13: Germany, Construction Projects Momentum Index
Figure 14: Western Europe, Construction Projects Momentum Index
Figure 15: Germany, Commercial Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 16: Germany, Commercial Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 17: Germany, Commercial Construction Orders Value Index (2015=100)
Figure 18: Germany, Tourist Arrivals and Overnight Stays, % Change YoY
Figure 19: Germany, Turnover Index of Accommodation Service Activities in Constant Terms, 2015=100, % Change, YoY
Figure 20: Germany, Retail Sales Index in Constant Terms, 2015=100, % Change, YoY
Figure 21: Germany, Wholesale Turnover Index in Constant Terms, 2015=100, % Change, YoY
Figure 22: Germany, Number of Permits Approved for Office and Administrative Buildings, % Change, YoY
Figure 23: Germany, Industrial Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 24: Germany, Industrial Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 25: Germany, Manufacturing Value Add, 2015 Chained Linked Volume Measures, in EUR Billion
Figure 26: Germany, Manufacturing Production and Turnover Indices, 2015=100, % Change, YoY
Figure 27: Germany, Total Exports, % Change, YoY
Figure 28: Germany, Number of New Passenger Car Registrations, in Thousands, % Change, YoY
Figure 29: Germany, Infrastructure Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 30: Germany, Infrastructure Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 31: Germany, New Orders Value and Volume Indices for Road Construction, 2015=100
Figure 32: Germany, Road and Rail Construction Turnover (Companies with 20 and more persons employed), % Change, YoY
Figure 33: Germany, Energy and Utilities Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 34: Germany, Energy and Utilities Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 35: Germany, Pipeline Engineering and Sewage Treatment Turnover (Companies with 20 and more persons employed), % Change, YoY
Figure 36: Germany, Institutional Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 37: Germany, Institutional Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 38: Germany, Total Number of Institutional Building Permits
Figure 39: Germany, Residential Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 40: Germany, Residential Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 41: Germany, Real Estate Value Add, 2015 Chained Linked Volume Measures, in EUR Billion
Figure 42: Germany, Total Number of Residential Building Permits Issued
Figure 43: Germany, New Orders Value and Volume Indices for Housing Construction, 2015=100, % Change, YoY
Figure 44: Germany, House Price Index (HPI) for Residential Real Estate, 2015=100, % Change, YoY
Figure 45: Germany, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 46: Germany, Headquarters of Key Consultants (% of Total Project Pipeline)
1 Executive Summary
2 Construction Industry: At-a-Glance
3 Context
3.1 Economic Performance
3.2 Political Environment and Policy
3.3 Demographics
3.4 COVID-19 Status
3.5 Risk Profile
4 Construction Outlook
4.1 All Construction
- Outlook
- Latest news and developments
- Construction Projects Momentum Index
4.2 Commercial Construction
- Outlook
- Project analytics
- Latest news and developments
4.3 Industrial Construction
- Outlook
- Project analytics
- Latest news and developments
4.4 Infrastructure Construction
- Outlook
- Project analytics
- Latest news and developments
4.5 Energy and Utilities Construction
- Outlook
- Project analytics
- Latest news and developments
4.6 Institutional Construction
- Outlook
- Project analytics
- Latest news and developments
4.7 Residential Construction
- Outlook
- Project analytics
- Latest news and developments
5 Key Industry Participants
5.1 Contractors
5.2 Consultants
6 Construction Market Data
7 Appendix
7.1 What is this Report About?
7.2 Definitions
7.3 CRI Methodology
7.4 GlobalData Construction
Contact Us
List Of Tables
List of TablesTable 1: Construction Industry Key Data
Table 2: Germany, Key Economic Indicators
Table 3: Germany, Commercial Construction Output by Project Type (Real % Change), 2016-2025
Table 4: Germany, Top Commercial Construction Projects by Value
Table 5: Germany, Industrial Construction Output by Project Type (Real % Change), 2016-2025
Table 6: Germany, Top Industrial Construction Projects by Value
Table 7: Germany, Infrastructure Construction Output by Project Type (Real % Change), 2016-2025
Table 8: Germany, Top Infrastructure Construction Projects by Value
Table 9: Germany, Energy and Utilities Construction Output by Project Type (Real % Change), 2016-2025
Table 10: Germany, Top Energy and Utilities Construction Projects by Value
Table 11: Germany, Institutional Construction Output by Project Type (Real % Change), 2016-2025
Table 12: Germany, Top Institutional Construction Projects by Value
Table 13: Germany, Residential Construction Output by Project Type (Real % Change), 2016-2025
Table 14: Germany, Top Residential Construction Projects by Value
Table 15: Germany, Key Contractors
Table 16: Germany, Key Consultants
Table 17: Germany, Construction Output Value (Real, US$ Million)
Table 18: Germany, Construction Output Value (Nominal, EUR Million)
Table 19: GlobalData Construction Market Definitions
Table 20: Risk Dimensions
Table 21: Ratings, Scores and Definitions
List Of Figures
List of FiguresFigure 1: Western Europe, Construction Output (Real % Change), 2020 and 2021
Figure 2: Germany, Construction Projects Pipeline by Sector (US$ Billion)
Figure 3: Germany, COVID-19 Confirmed Cases
Figure 4: Germany, Risk Summary
Figure 5: Germany, Risk Regional Comparison
Figure 6: Germany, Construction Output Value (Real, US$ Billion, 2017 Prices and Exchange Rate), 2016-2025
Figure 7: Germany, Construction Output Value, by Sector (Real, US$ Million), 2016-2025
Figure 8: Germany, Construction Value Add, 2015 Chained Linked Volume Measures (EUR Billion)
Figure 9: Germany, Total Fixed Capital Formation, 2015 Current Prices (EUR billion)
Figure 10: Germany, New Orders Value Index for Building Construction and Civil Engineering Works, % Change, YoY
Figure 11: Germany, Total Number of Building Permits Approved, % Change, YoY
Figure 12: Germany, Construction Turnover (Companies with 20 and more persons employed), % Change, YoY
Figure 13: Germany, Construction Projects Momentum Index
Figure 14: Western Europe, Construction Projects Momentum Index
Figure 15: Germany, Commercial Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 16: Germany, Commercial Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 17: Germany, Commercial Construction Orders Value Index (2015=100)
Figure 18: Germany, Tourist Arrivals and Overnight Stays, % Change YoY
Figure 19: Germany, Turnover Index of Accommodation Service Activities in Constant Terms, 2015=100, % Change, YoY
Figure 20: Germany, Retail Sales Index in Constant Terms, 2015=100, % Change, YoY
Figure 21: Germany, Wholesale Turnover Index in Constant Terms, 2015=100, % Change, YoY
Figure 22: Germany, Number of Permits Approved for Office and Administrative Buildings, % Change, YoY
Figure 23: Germany, Industrial Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 24: Germany, Industrial Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 25: Germany, Manufacturing Value Add, 2015 Chained Linked Volume Measures, in EUR Billion
Figure 26: Germany, Manufacturing Production and Turnover Indices, 2015=100, % Change, YoY
Figure 27: Germany, Total Exports, % Change, YoY
Figure 28: Germany, Number of New Passenger Car Registrations, in Thousands, % Change, YoY
Figure 29: Germany, Infrastructure Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 30: Germany, Infrastructure Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 31: Germany, New Orders Value and Volume Indices for Road Construction, 2015=100
Figure 32: Germany, Road and Rail Construction Turnover (Companies with 20 and more persons employed), % Change, YoY
Figure 33: Germany, Energy and Utilities Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 34: Germany, Energy and Utilities Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 35: Germany, Pipeline Engineering and Sewage Treatment Turnover (Companies with 20 and more persons employed), % Change, YoY
Figure 36: Germany, Institutional Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 37: Germany, Institutional Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 38: Germany, Total Number of Institutional Building Permits
Figure 39: Germany, Residential Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 40: Germany, Residential Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 41: Germany, Real Estate Value Add, 2015 Chained Linked Volume Measures, in EUR Billion
Figure 42: Germany, Total Number of Residential Building Permits Issued
Figure 43: Germany, New Orders Value and Volume Indices for Housing Construction, 2015=100, % Change, YoY
Figure 44: Germany, House Price Index (HPI) for Residential Real Estate, 2015=100, % Change, YoY
Figure 45: Germany, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 46: Germany, Headquarters of Key Consultants (% of Total Project Pipeline)
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