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Construction in New Zealand - Key Trends and Opportunities to 2022

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Construction in New Zealand - Key Trends and Opportunities to 2022

Summary

In real terms, New Zealands construction industry registered relatively low growth during 2016-2017, owing to an unstable economic performance and weak manufacturing activity. Additionally, poor business confidence during the general election in 2017 also affected the flow of investment in construction projects. Overall, the industry posted positive growth during the review period (2013-2017), supported by public and private sector investment in the development of the countrys residential and transport infrastructure.

The industrys output value in real terms increased at a review-period compound annual growth rate (CAGR) of 3.92%, and is expected to post a forecast-period (2018-2022) CAGR of 3.55%. Over the forecast period, the industrys expansion is expected to be supported by investments in transport, energy and residential infrastructure projects. In the 2018 budget, the government announced plans to invest NZD42.0 billion (US$30.4 billion) until 2022 to develop the countrys overall infrastructure.

The governments aims to develop transport infrastructure and improve regional connectivity are expected to promote the industrys growth over the forecast period. Government flagship programs such as the KiwiBuild program and transport development program are expected to support the expansion of the industry over the forecast period.

Construction in New Zealand - Key Trends and Opportunities to 2022 report provides detailed market analysis, information and insights into New Zealands construction industry, including -
- New Zealand 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 New Zealands 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

- Expects the energy and utilities construction market output to record a forecast-period CAGR of 4.53% in nominal terms, supported by the governments effort to develop the countrys energy sector with a special emphasis on renewable sources. In November 2017, the government announced its plan to generate 100% of its energy from renewable sources by 2035, up from 80% in 2016.
- In December 2017, the New Zealand Transport Agency approved the Regional Land Transport Plan. With a total investment of NZD338.7 million (US$240.0 million), the program includes the construction and renovation of road intersections, bridges, interchanges, culverts and service roads; the program is scheduled for completion in 2028. Additionally, under the Rural Highways Black Spots Program, the Transport Agency aims to reconstruct 90 high risk roads in the country by 2021 with an investment of NZD616.3 million (US$429.0 million).
- Expects the residential construction market to retain its leading position over the forecast period, with a share of 43.2% of the industrys total value in 2022. In October 2017, under the KiwiBuild program, the government announced plans to develop 100,000 new housing units in the country by 2027 with an investment of NZD2.0 billion (US$1.4 billion).
- As a part of the Ultra-Fast Broadband (UFB) program, in February 2017, the government aims to provide fiber-to-the-premises internet connections with speeds of up to 1,000mbps to 87% of households in over 390 cities and towns by 2022. Additionally, under the Rural Broadband Initiative (RBI), the government plans to enable over 70,000 households in rural areas to gain access to high-speed broadband networks by 2022.
- The total construction project pipeline in New Zealand, as tracked by the Construction Intelligence Center (CIC) and including all mega projects with a value above US$25 million, stands at NZD71.1 billion (US$50.4 billion). The pipeline, which includes all projects from pre-planning to execution, is skewed to late-stage projects, with 67.6% of the pipeline value being in the pre-execution and execution stages as of June 2018.

Scope

This report provides a comprehensive analysis of the construction industry in New Zealand. It provides -
- Historical (2013-2017) and forecast (2018-2022) valuations of the construction industry in New Zealand, 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
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
7.3 About GlobalData
7.4 About the Construction Intelligence Center
7.5 Disclaimer

List Of Tables

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

List Of Figures

List of Figures
Figure 1: Key Markets, Construction Output Growth Matrix and Risk Matrix
Figure 2: New Zealand, Construction Projects Pipeline by Sector (NZD Billion)
Figure 3: New Zealand, Total Number of Building Permits Issued (Number, Units)
Figure 4: New Zealand, Total Number of Residential Buildings Constructed and Renovated (Number, Thousands)
Figure 5: New Zealand, Construction Output Value (Real, US$ billion, 2017 prices and exchange rate)
Figure 6: New Zealand, Construction Output Value, Growth Matrix
Figure 7: New Zealand, Construction Output Value, by Sector (NZD Million), 2013-2022
Figure 8: New Zealand, Construction Projects Pipeline, Projected Annual Spending by Stage (NZD Million), 2017-2022
Figure 9: New Zealand, Construction Projects Pipeline, Value by Stage (NZD Million)
Figure 10: New Zealand, Commercial Construction Output by Project Type (NZD Million), 2013-2022
Figure 11: New Zealand, Commercial Construction Projects Pipeline, Value by Stage (NZD Million)
Figure 12: New Zealand, Commercial Construction Projects Pipeline, Projected Annual Spending by Stage (NZD Million)
Figure 13: New Zealand, Industrial Construction Output by Project Type (NZD Million), 2013-2022
Figure 14: New Zealand, Industrial Construction Projects Pipeline, Value by Stage (NZD Million)
Figure 15: New Zealand, Industrial Construction Projects Pipeline, Projected Annual Spending by Stage (NZD Million)
Figure 16: New Zealand, Infrastructure Construction Output by Project Type (NZD Million), 2013-2022
Figure 17: New Zealand, Infrastructure Construction Projects Pipeline, Value by Stage (NZD Million)
Figure 18: New Zealand, Infrastructure Construction Projects Pipeline, Projected Annual Spending by Stage (NZD Million)
Figure 19: New Zealand, Energy and Utilities Construction Output by Project Type (NZD Million), 2013-2022
Figure 20: New Zealand, Energy and Utilities Construction Projects Pipeline, Value by Stage (NZD Million)
Figure 21: New Zealand, Energy and Utilities Construction Projects Pipeline, Projected Annual Spending by Stage (NZD Million)
Figure 22: New Zealand, Institutional Construction Output by Project Type (NZD Million), 2013-2022
Figure 23: New Zealand, Institutional Construction Projects Pipeline, Value by Stage (NZD Million)
Figure 24: New Zealand, Institutional Construction Projects Pipeline, Projected Annual Spending by Stage (NZD Million)
Figure 25: New Zealand, Residential Construction Output by Project Type (NZD Million), 2013-2022
Figure 26: New Zealand, Residential Construction Projects Pipeline, Value by Stage (NZD Million)
Figure 27: New Zealand, Residential Construction Projects Pipeline, Projected Annual Spending by Stage (NZD Million)
Figure 28: New Zealand, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 29: New Zealand, Headquarters of Foreign Contractors (% of Project Pipeline with Foreign Contractor)
Figure 30: New Zealand, Headquarters of Key Consultants (% of Total Project Pipeline)
Figure 31: New Zealand, Headquarters of Foreign Consultants (% of Project Pipeline with Foreign Consultants)

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Reports Details

Published Date : Jun 2018
No. of Pages :42
Country :New Zealand
Category :Construction
Publisher :GlobalData
Report Delivery By :Email
Report Delivery Time :12 to 24 hours after placing the order.

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