Construction in Israel - Key Trends and Opportunities to 2025 (H2 2021)
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Construction in Israel - Key Trends and Opportunities to 2025 (H2 2021)
Summary
Despite weak growth in the first half of the year, owing to a wave of Coronavirus (COVID-19) infections and containment measures, Israels construction industry is forecast to record growth of 3% in real terms in 2021, following a contraction of 4% in 2020. The outlook for the short term is clouded by political disruption, which prevented the passage of the governments 2021 Budget. Although progress has been made in ending a political deadline, the broad coalition government that has taken office under a rotating system will likely struggle to implement policies.
The construction industry is set to recover in the medium term, as Israel continues to prioritize transport infrastructure. The severe congestion in Israeli cities is now deemed as the most critical infrastructure bottleneck. Thus, GlobalData expects the construction industry to register an annual average growth of 3% over the remainder of the forecast period (2022-2025). The government aims to build 191.4km of new light rail infrastructure with an estimated cost of ILS73 billion (US$21.2 billion) during the period of 2020-2027. Some the major light rail transit projects currently underway include the Jerusalem Light Rail Green Line, with an investment of ILS7.9 billion (US$2.3 billion), and the Jerusalem Light Rail Blue Line with an investment of ILS7.9 billion (US$2.3 billion).
The forecast-period growth is also expected to be supported by the governments plan for the intensive development of intra-city public transport systems, although the impact of the COVID-19 pandemic on public transport use may lead to some rationalization of transport priorities. The Tel Aviv light rail, the Jerusalem light rail, the Haifa-Nazareth light rail, the electrification of Israel Railways network and the fourth track on the Ayalon highway (which involves redirecting the Ayalon stream) will generate significant growth momentum in the construction sector; ILS107 billion (US$31.3 billion) will be invested in mass public transport projects, in addition to ILS21 billion (US$6.2 billion) in new highways between 2020-2025.
GlobalDatas Construction in Israel - Key Trends and Opportunities to 2025 (H2 2021) report provides detailed market analysis, information, and insights into Israels construction industry, including -
- Israels 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 Israels 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 Israel. It provides -
- Historical (2016-2020) and forecast (2021-2025) valuations of the construction industry in Israel, 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
Despite weak growth in the first half of the year, owing to a wave of Coronavirus (COVID-19) infections and containment measures, Israels construction industry is forecast to record growth of 3% in real terms in 2021, following a contraction of 4% in 2020. The outlook for the short term is clouded by political disruption, which prevented the passage of the governments 2021 Budget. Although progress has been made in ending a political deadline, the broad coalition government that has taken office under a rotating system will likely struggle to implement policies.
The construction industry is set to recover in the medium term, as Israel continues to prioritize transport infrastructure. The severe congestion in Israeli cities is now deemed as the most critical infrastructure bottleneck. Thus, GlobalData expects the construction industry to register an annual average growth of 3% over the remainder of the forecast period (2022-2025). The government aims to build 191.4km of new light rail infrastructure with an estimated cost of ILS73 billion (US$21.2 billion) during the period of 2020-2027. Some the major light rail transit projects currently underway include the Jerusalem Light Rail Green Line, with an investment of ILS7.9 billion (US$2.3 billion), and the Jerusalem Light Rail Blue Line with an investment of ILS7.9 billion (US$2.3 billion).
The forecast-period growth is also expected to be supported by the governments plan for the intensive development of intra-city public transport systems, although the impact of the COVID-19 pandemic on public transport use may lead to some rationalization of transport priorities. The Tel Aviv light rail, the Jerusalem light rail, the Haifa-Nazareth light rail, the electrification of Israel Railways network and the fourth track on the Ayalon highway (which involves redirecting the Ayalon stream) will generate significant growth momentum in the construction sector; ILS107 billion (US$31.3 billion) will be invested in mass public transport projects, in addition to ILS21 billion (US$6.2 billion) in new highways between 2020-2025.
GlobalDatas Construction in Israel - Key Trends and Opportunities to 2025 (H2 2021) report provides detailed market analysis, information, and insights into Israels construction industry, including -
- Israels 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 Israels 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 Israel. It provides -
- Historical (2016-2020) and forecast (2021-2025) valuations of the construction industry in Israel, 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
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
- 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
Table 1: Construction Industry Key Data
Table 2: Israel, Key Economic Indicators
Table 3: Israel, Commercial Construction Output by Project Type (Real % Change), 2016-2025
Table 4: Israel, Top Commercial Construction Projects by Value
Table 5: Israel, Industrial Construction Output by Project Type (Real % Change), 2016-2025
Table 6: Israel, Infrastructure Construction Output by Project Type (Real % Change), 2016-2025
Table 7: Israel, Top Infrastructure Construction Projects by Value
Table 8: Israel, Energy and Utilities Construction Output by Project Type (Real % Change), 2016-2025
Table 9: Israel, Top Energy and Utilities Construction Projects by Value
Table 10: Israel, Institutional Construction Output by Project Type (Real % Change), 2016-2025
Table 11: Israel, Top Institutional Construction Projects by Value
Table 12: Israel, Residential Construction Output by Project Type (Real % Change), 2016-2025
Table 13: Israel, Top Residential Construction Projects by Value
Table 14: Israel, Key Contractors
Table 15: Israel, Key Consultants
Table 16: Israel, Construction Output Value (Real, US$ Million)
Table 17: Israel, Construction Output Value (Nominal, ILS Million)
Table 18: GlobalData Construction Market Definitions
Table 19: Risk Dimensions
Table 20: Ratings, Scores and Definitions
List Of Figures
Figure 1: Middle East, Construction Output (Real % Change), 2020 and 2021
Figure 2: Israel, Construction Projects Pipeline by Sector (US$ Billion)
Figure 3: Israel, COVID-19 Confirmed Cases
Figure 4: Israel, Risk Summary
Figure 5: Israel, Risk Regional Comparison
Figure 6: Israel, Construction Output Value (Real, US$ Billion, 2017 Prices and Exchange Rate), 2016-2025
Figure 7: Israel, Construction Output Value, by Sector (Real, US$ Million), 2016-2025
Figure 8: Israel, Gross Fixed Capital Formation in Construction (ILS Million, at 2015 Chained Prices)
Figure 9: Israel, Construction Value-Add (ILS Million, 2015 Chained Prices)
Figure 10: Israel, Unemployment (In thousands)
Figure 11: Israel, Construction Projects Momentum Index
Figure 12: Middle East, Construction Projects Momentum Index
Figure 13: Israel, Commercial Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 14: Israel, Commercial Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 15: Israel, Wholesale and Retail Trade, Accommodation and Food Services Value Add (ILS Million, 2015 Chained Prices)
Figure 16: Israel, Total Area Authorized for Office Buildings (In Thousands m2)
Figure 17: Israel, Total Tourist Arrivals (In Thousands)
Figure 18: Israel, Industrial Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 19: Israel, Manufacturing Value Add (ILS Million, 2015 Chained Prices)
Figure 20: Israel, Total Export Value (ILS, Million)
Figure 21: Israel, Manufacturing Production Index (2011=100)
Figure 22: Israel, Total Area Authorized for Manufacturing and Storage Premises (In Thousands m2)
Figure 23: Israel, Infrastructure Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 24: Israel, Infrastructure Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 25: Israel, Energy and Utilities Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 26: Israel, Energy and Utilities Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 27: Israel, Institutional Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 28: Israel, Institutional Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 29: Israel, Total Number of Construction Permits Issued for New Residential Buildings
Figure 30: Israel, Residential Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 31: Israel, Residential Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 32: Israel, Fixed Capital Formation in Residential Buildings (ILS Million, at 2015 Chained Prices)
Figure 33: Israel, Total Number of Construction Permits Issued for New Residential Buildings
Figure 34: Israel, Total Number of New Residential Buildings Construction Completed
Figure 35: Israel, Housing Construction Inputs Prices Index (2004=100)
Figure 36: Israel, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 37: Israel, Headquarters of Key Consultants (% of Total Project Pipeline)
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