MarketResearchReports.Biz announces addition of new report “Construction In Ireland - Key Trends And Opportunities To 2018” to its database
Albany, NY -- (SBWIRE) -- 05/19/2014 -- MarketResearchReports.Biz presents this most up-to-date research on "Research Report On Construction Market"In Ireland Key Trends And Opportunities To 2018
This report provides detailed market analysis, information and insights into the Irish construction industry including:
The Irish construction industry's growth prospects by market, project type and type of construction activity
Analysis of equipment, material and service costs across each project type within Ireland
Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in the Irish construction industry
Analyzing the profiles of the leading operators in the Irish construction industry
Data highlights of the largest construction projects in Ireland
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The Irish construction industry recorded a review-period CAGR of -13.76%. Having suffered a setback during the economic crisis (2008¬–2012), it then started to recover the next year. In 2014, the construction industry in Ireland is anticipated to register a nominal growth of 5.0%, backed by increases in activities in both the commercial and residential markets. This growth will be supported by the government’s investment to develop the country’s commercial market and build affordable homes to meet the rising demand for housing. According to the Central Statistics Office Ireland (CSO), the number of approvals for residential projects increased by 95.0% from November 2012 to November 2013, and the building and construction production index increased by 12.0% from the second quarter of 2012 to the second quarter of 2013. Assuming these positive trends continue, the industry is expected to record a forecast-period CAGR of 4.62%.
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This report provides a comprehensive analysis of the construction industry in Ireland. It provides:
Historical (2009-2013) and forecast (2014-2018) valuations of the construction industry in Ireland using construction output and value-add methods
Segmentation by sector (commercial, industrial, infrastructure, institutional and residential) and by project type
Breakdown of values within each project type, by type of activity (new construction, repair and maintenance, refurbishment and demolition) and by type of cost (materials, equipment and services)
Analysis of key construction industry issues, including regulation, cost management, funding and pricing
Detailed profiles of the leading construction companies in Ireland
Reasons to buy
Identify and evaluate market opportunities using our 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 business strategies using Timetric's critical and actionable insight
Assess business risks, including cost, regulatory and competitive pressures
Evaluate competitive risk and success factors
To Read Complete Report with TOC: http://www.marketresearchreports.biz/analysis/198390
Ireland’s construction industry suffered a sharp contraction during the country’s economic crisis, with levels of output declining from EUR48.0 billion (US$65.7 billion) in 2007 to EUR11.4 billion (US$15.1 billion) in 2013. The construction industry appears set for a sustained recovery, however. In real value-add terms, construction output rose by 10.5% annually in the first three quarters of 2013. Rising property prices, improved private investor sentiments and a number of major construction projects will boost the growth of construction industry in Ireland over the forecast period.
Construction value added in nominal terms, registered a CAGR of -13.14% during the review period, reaching EUR2.4 billion (US$3.2 billion) in 2013. Over the forecast period, the growth in construction value added is likely to recover at a CAGR of 5.97%, owing to a steady recovery in general economic activity. The activities in the commercial and residential construction market are expected to pick up relatively faster than other construction markets over the forecast period. Due to increased construction activities and workload rising sharply, companies in the construction industry have been increasing their staffing levels. According to CSO, the rate of employment in Ireland grew by 9.5% from the first quarter of 2013 to the third quarter of 2013.
There was a strong demand in the Irish residential construction market during the review period, as evident from the sharp increase in the sales of housing units. According to the Irish Banking Federation (IBF), the number of residential property transactions in Ireland increased by 14.0% in the first quarter of 2013, compared with the same period in 2012. Moreover, the country’s housing market is extremely supported by low interest rates and property taxes, therefore, the rise in housing sales reflects the rapid growth in the construction of new projects and the residential market.
The Irish government introduced REITs (real estate investment trusts) in its 2013 budget in a bid to encourage commercial construction and boost the economy. REITs aim to attract investment from private investors to finance the majority of commercial projects. Some measures that will help attract private investment include an exemption from Irish corporation tax on both qualifying income and gains. In 2014, the Irish stock market is expected to have listed two more REITS on its exchange to target EUR2.0 billion (US$2.7 billion) in funds from investors ready to allocate to this tax-efficient form of investment. It will also make major investments in the retail and office real estate markets.
To improve road infrastructure in the country, the Ministry for Transport, Tourism and Sports has announced that it will invest EUR332.9 million (US$449.0 million) in 2014 for the development of regional and local roads in the country. The total investment will include the maintenance of 1,910.0km of roads, strengthening of 2,156.0km of roads, 245 low-cost safety projects and 162 bridge rehabilitation projects. The government is investing heavily to improve the country’s infrastructure, and make it more effective for transport and logistics.
There has been clear evidence of an expansion in residential construction, according to the latest data on new building permits. In the third quarter of 2013, residential building permits (in terms of square area) were up by nearly 4.9%, whereas non-residential building permits declined by 4.5%. Total permits declined by 10.5% annually, highlighting the latter’s greater significance to the total industry. This suggests that there are still risks to recovery in these non-residential building sectors in the years ahead.
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