WiseGuyReports published new report, titled “Construction in Norway”.
New York, NY -- (SBWIRE) -- 11/28/2017 -- The Norwegian construction industry grew by 4.2% in real terms in 2016, following an annual growth of 2.9% in 2015 and 2.5% in 2014. This growth can be attributed to the recovery in global economic conditions coupled with government spending on residential, infrastructure and commercial construction markets, as well as positive developments in domestic and regional economic conditions.
The industry's value is expected to continue to grow over the forecast period (2017–2021), with investments in public infrastructure, energy, commercial and industrial construction projects, and improved consumer and investor confidence. A rise in permits for the construction of residential and non-residential buildings in the country is also expected to support the industry's growth over the forecast period.
Under the National Transport Plan (NTP) 2018–2029, the government plans to invest NOK59.7 billion (US$7.1 billion) annually to develop road, rail and other transport infrastructure until 2029. Accordingly, the government plans to invest NOK1.7 trillion (US$202.7 billion) in the construction and maintenance of road infrastructure by 2029. To develop rail infrastructure, the government plans to invest NOK1.0 trillion (US$119.4 billion) by 2029.
The industry's output value in real terms is expected to record a compound annual growth rate (CAGR) of 2.91% over the forecast period – up from 2.79% during the review period.
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Construction in Norway – Key Trends and Opportunities to 2021 report provides detailed market analysis, information and insights into the Norwegian construction industry, including:
- The Norwegian construction industry's growth prospects by market, project type and construction activity
- Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in the Norwegian construction industry
- Profiles of the leading operators in the Norwegian construction industry
This report provides a comprehensive analysis of the construction industry in Norway. It provides:
- Historical (2012–2016) and forecast (2017–2021) valuations of the construction industry in Norway using construction output and value-add methods
- Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
- 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)
- Detailed profiles of the leading construction companies in Norway
Key points 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.
- Expects the residential construction market to remain the largest segment, accounting for 43.7% of the industry's total value in 2021. Growth over the forecast period is expected to be supported by rising residential building permits and the government's efforts to reduce housing shortage. In addition, urbanization, population growth, affordable housing projects and positive developments in regional economic conditions are expected to support the demand for residential properties over the forecast period.
- With robust and modern infrastructure vital for economic growth and competitiveness, the Norwegian government is focusing on infrastructure development. Under the NTP 2018–2029, the Norwegian government plans to develop 1,280km of new trunk roads and 380km of four-lane motorways with an investment of NOK311.6 billion (US$53.0 billion) by 2023.
- The commercial construction market is expected to be supported by the government's plan to increase tourist arrivals in the country. Under the Strategy 2014–2020, the government plans to develop a web based tool box to enable development in the tourism sector, establish a connection within tour operators and travelers, and develop tourism sites in the country.
- The government's plan to provide a high-speed internet connection and mobile network to all citizens by 2020 is expected to drive the growth of the energy and utilities construction market over the forecast period. Under the Digital Agenda for Norway, the government is planning to equip 90% of households with an internet connection speed of 100Mbps by 2020.
- Expects institutional construction market to register a forecast-period CAGR of 3.24% in nominal terms, driven by the government's focus on educational infrastructure. In the 2017 Budget, the government announced a plan to invest NOK10.1 billion (US$1.2 billion) to build new 110 new free schools across the country by 2020.
Table of Contents
1 Executive Summary
2 Industry Outlook
3 Key Issues and Developments
4 Market Data Analysis
5 Company Profile: Veidekke ASA
6 Company Profile: AF Gruppen ASA
7 Company Profile: Norconsult Holding AS
8 Company Profile: Vestfold Fjellboring AS
9 Company Profile: Selvaag Gruppen AS
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