ResearchMoz.us include new market research report"Construction in Croatia - Key Trends and Opportunities to 2018 " to its huge collection of research reports.
Albany, NY -- (SBWIRE) -- 04/16/2014 -- Synopsis
This report provides detailed market analysis, information and insights into the Croatian construction industry, including:
The Croatian 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 Croatia
Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in the Croatian construction industry
Analyzing the profiles of the leading operators in the Croatian construction industry
Data highlights of the largest construction projects in Croatia
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The Croatian construction industry registered a compound annual growth rate (CAGR) of -9.64% during the review period (2009–2013). This was driven by a contraction in institutional and industrial construction, primarily due to a reduction in investor confidence following the European debt crisis. The industry is expected to improve slowly over the forecast period (2014–2018), supported by a general recovery in the economy and business confidence. The industry is anticipated to record a forecast-period CAGR of 3.41%.
This report provides a comprehensive analysis of the construction industry in Croatia. It provides:
Historical (2009-2013) and forecast (2014-2018) valuations of the construction industry in Croatia 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 Croatia
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The Croatian construction industry remained weak following the global and European financial crises. In real gross value-added terms, the industry in 2013 was 57.0% its size in 2008. Despite this, the rate of decline has slowed and, with some stabilization in the area covered by building permits in 2013, the construction industry appears set for a period of recovery.
A series of infrastructure projects will be launched to improve bridges, ports, roads, highways, airports, railways and power supplies. The Croatian government plans to invest HRK2.5 billion (US$436.5 million) in the construction and refurbishment of roads, HRK2.8 billion (US$488.9 million) for railways, HRK1.1 billion (US$192.1 million) for sea ports, HRK3.8 billion (US$663.4 million) for energy, and HRK127.0 million (US$22.2 million) for the combined heat and power (CHP) plant Sisak - Block C project.
According to Croatia’s Bureau of statistics, travel and tourism accounted for 15.0% of the country’s GDP in 2012. With an aim to increase the sector’s contribution, the government is focusing on the construction of new hotels and the expansion of existing ones. Overall, 12 large hotel projects, with a total room capacity of 2,900, are currently under construction. One such project is Split by Valamar Hotel Group, on which construction is expected to start by mid-2014. In 2013, the government also announced plans to invest HRK2.9 billion (US$506.0 million) in enhancing health tourism and eco-tourism on Bra?, an Adriatic island.
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In 2012, the industrial sector accounted for 25.0% of the country’s GDP. Food, automotives, chemicals and pharmaceuticals are the sector’s main segments, collectively employing 100,000 people. Stringent labor market regulations restricted the sector’s competitiveness during the review period, due to the country’s centralized system for the negotiation of wage agreements. High labor costs and low productivity are expected to restrict the volume of investments further.
Under the National Renewable Energy Action Plan (NREAP) 2013–2020, the Croatian government aims to increase its share of renewable energy from 15.0% to 20.0%, improve energy efficiency by 20.0% and reduce carbon dioxide emissions by 20.0% until 2020. According to the plan, total incentive costs are expected to decline, as more energy will be produced from biogas, small hydroelectric power plants, biomass and cogeneration plants. The plan’s estimated budget is HRK13.9 billion (US$2.4 billion).
The government has recognized the importance of investment in science, technology and innovations to support economic development. To enhance research and development (R&D) activities in the country, in the second half of 2013, the government adopted the National Innovation Strategy 2013–2020 and the Action Plan 2013–2014 to strengthen the competitiveness of the country’s research facilities.
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