Construction in Ireland - Key Trends and Opportunities to 2025 (H1 2021)

Construction in Ireland - Key Trends and Opportunities to 2025 (H1 2021)

Summary

GlobalData expects the Irish construction industry to expand by 10.9% in real terms in 2021 - up from a decline of 12.7% in 2020. The industrys output was affected by the COVID-19 outbreak and the subsequent lockdown measures imposed to contain the viruss spread. This has continued to weigh on construction progress and has created supply chain disruptions and project delays.

The industry is expected to be further affected in Q1 2021 owing to the closure of non-essential construction sites from early January to early March 2021. The initial effects of the latest lockdown restrictions on the industry are reflected by the fall in Ulster Banks Construction Purchasing Managers Index (PMI). It fell to 21.2 in January 2021, following an average score of 42.1 in 2020. A further downside risk to the industrys outlook stems from the double-digit year-on-year (Y-o-Y) contraction in the number of planning permissions granted during the first three quarters of 2020.

The construction industrys output is expected to pick up pace and improve gradually over the coming months, following the re-opening of the industry on 5th March 2021. Output will be supported by the governments investments in roads, housing, hospitals, and school projects. In the 2021 budget, announced in October 2020, the government allocated EUR10.1 billion (US$11.6 billion) towards capital expenditure, with the housing and transport sectors accounting for 27.3% and 24.5% of the total allocation, respectively. Over the remaining part of the forecast period, the industry is expected to register an annual average growth of 4.4% between 2022-2025, supported by the governments investment in transport and housing infrastructure, as well as its focus on reducing greenhouse gas emissions in the country, which will attract public and private sector investment on renewable energy projects.

This report provides detailed market analysis, information, and insights into the Irish construction industry, including -
- The Irish 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 Irish 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 Ireland. It provides -
- Historical (2016-2020) and forecast (2021-2025) valuations of the construction industry in Ireland, 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.

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
4 Construction Outlook
4.1 All Construction
4.2 Commercial Construction
4.3 Industrial Construction
4.4 Infrastructure Construction
4.5 Energy and Utilities Construction
4.6 Institutional Construction
4.7 Residential Construction
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 GlobalData Construction
Contact Us

List Of Tables


Table 1: Construction Industry Key Data
Table 2: Ireland, Key Economic Indicators
Table 3: Ireland, Commercial Construction Output by Project Type (Real % Change), 2016-2025
Table 4: Ireland, Top Commercial Construction Projects by Value
Table 5: Ireland, Industrial Construction Output by Project Type (Real % Change), 2016-2025
Table 6: Ireland, Top Industrial Construction Projects by Value
Table 7: Ireland, Infrastructure Construction Output by Project Type (Real % Change), 2016-2025
Table 8: Ireland, Top Infrastructure Construction Projects by Value
Table 9: Ireland, Energy and Utilities Construction Output by Project Type (Real % Change), 2016-2025
Table 10: Ireland, Top Energy and Utilities Construction Projects by Value
Table 11: Ireland, Institutional Construction Output by Project Type (Real % Change), 2016-2025
Table 12: Ireland, Top Institutional Construction Projects by Value
Table 13: Ireland, Residential Construction Output by Project Type (Real % Change), 2016-2025
Table 14: Ireland, Top Residential Construction Projects by Value
Table 15: Ireland, Key Contractors
Table 16: Ireland, Key Consultants
Table 17: Ireland, Construction Output Value (Real, US$ Million)
Table 18: Ireland, Construction Output Value (Nominal, EUR Million)
Table 19: GlobalData Construction Market Definitions

List Of Figures


Figure 1: Western Europe, Construction Output (Real % Change), 2020 and 2021
Figure 2: Ireland, Construction Projects Pipeline by Sector (US$ Billion)
Figure 3: Ireland, COVID-19 Confirmed Cases
Figure 4: Ireland, Construction Output Value (Real, US$ Billion, 2017 Prices and Exchange Rate), 2016-2025
Figure 5: Ireland, Construction Output Value, by Sector (Real, US$ Million), 2016-2025
Figure 6: Ireland, Construction Value-Add (EUR Million, 2015 Chained Linked Volume Measures)
Figure 7: Ireland, Construction Production Value Index, (2015=100), % Change YoY
Figure 8: Ireland, Construction Purchasing Managers Index (PMI) (seasonally adjusted)
Figure 9: Ireland, Gross Fixed Capital Formation, in 2015 Chain Linked Volume Measures, % change YoY
Figure 10: Ireland, Total Number of Planning Permissions Granted for Construction, % Change YoY
Figure 11: Ireland, Construction Projects Momentum Index
Figure 12: Ireland, Commercial Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 13: Ireland, Commercial Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 14: Ireland, Planning Permissions Granted for Commercial Buildings, % Change YoY
Figure 15: Ireland, Overseas Arrivals (In Thousands), % Change YoY
Figure 16: Ireland, Services Value Index (2015=100), % Change YoY
Figure 17: Ireland, Retail Sales Volume and Value Indices, 2015=100, % Change YoY
Figure 18: Ireland, Industrial Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 19: Ireland, Industrial Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 20: Ireland, Planning Permissions Granted for Industrial Buildings, % Change YoY
Figure 21: Ireland, Volume Indices of Industrial and Manufacturing Production, 2015=100, % Change YoY
Figure 22: Ireland, Value of Goods Exported, in EUR Billion, % Change YoY
Figure 23: Ireland, Infrastructure Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 24: Ireland, Infrastructure Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 25: Ireland, Energy and Utilities Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 26: Ireland, Energy and Utilities Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 27: Ireland, Number of Planning Permissions Granted for Electricity and Communication, and Water and Sewage Projects, % Change YoY
Figure 28: Ireland, Institutional Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 29: Ireland, Institutional Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 30: Ireland, Number of Planning Permission Granted for Government, Health and Education Buildings, % Change YoY
Figure 31: Ireland, Residential Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 32: Ireland, Residential Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 33: Ireland, Number of New Dwelling Completions, % Change YoY
Figure 34: Ireland, Planning Permissions Approved for Dwellings, % Change YoY
Figure 35: Ireland, Residential Property Price Index (RPPI), 2015=100
Figure 36: Ireland, Number of Residential Property Transactions, % Change YoY
Figure 37: Ireland, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 38: Ireland, Headquarters of Key Consultants (% of Total Project Pipeline)

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