Boston, MA -- (SBWIRE) -- 08/29/2013 -- After official data was released it has come to light that Germany's construction sector has continued to struggle as eurozone worries impede growth. Our revised forecast for growth of -1.9% in 2013 was below our expectations, but nonetheless in line with our view that the sector will underperform. 2014 should see a return to growth, which will be the trend for the 10-year forecast period to 2022. Average growth between 2013 and 2022 will be 1%, indicating that confidence from investors in the sector will remain weak. Industry value will reach US$143.5bn in 2013, rising to US$169.1bn by 2022.

Key developments in the sector are:

- The air transport sub-sector will see growth slow to an annual average of just 1.3% between 2014 and 2022.We are seeing growth slow due to a number of large projects coming into their final stages, including the expansion of Frankfurt International to include a third terminal, which is owned by Fraport, and the much delayed new Berlin airport. One major project in this sub-sector is the EUR1bn expansion of Munich International Airport, which is the second largest airport in Germany. The expansion includes the construction of a third runway, and the project will allow Munich to land 120 planes per hour, up from 90, expanding annual passenger capacity to 58mn. Plans should see work continue to 2025, with the new runway planned for completion by 2015.
- The Stuttgart 21 project has the potential to boost Germany's rail infrastructure sector and presents a significant upside risk to our railways forecasts - that is if the project is not cancelled or significantly reduced in scope. The new station and urban redevelopment project originally had a price tag of EUR2.6bn (US$3.3bn), but it has since ballooned to around EUR4.1bn (US$5.4bn) - costs that will be jointly borne by Deutsche Bahn, Stuttgart's airport and federal, state and city governments. The associated high-speed rail line to Ulm has an estimated cost of EUR3bn. Construction began in February 2010. Officially, Deutsche Bahn says the project will be completed by 2020, but Stuttgart 21 has already been plagued with delays and Transportation Ministry officials in Berlin are estimating that it will not be finished until 2024.

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