Dublin, Feb. 16, 2023 (GLOBE NEWSWIRE) -- The "Europe Construction Industry Databook Series - Market Size & Forecast by Value and Volume, Q1 2023 Update" report has been added to ResearchAndMarkets.com's offering.
In Europe, the construction industry has been significantly impacted due to the surge in borrowing costs, rising material prices, and fears of recession, which can potentially lead to a substantial dropdown in property prices. With the cost of construction rising for property developers, firms are scaling back their construction projects to accommodate the inflation factor.
Both commercial and residential construction markets have been impacted due to rising construction costs. Germany, for instance, has experienced a significant decline in new home-building orders and cancellation of building projects. Amid rising energy and construction prices, many construction firms are facing potential collapse, and therefore, have asked for government intervention to make housing more affordable. France, on the other hand, has experienced a consistent decline in commercial construction activities.
Hotel and data center construction projects are expected to support the commercial sector in Europe
After two years of pandemic-induced restrictions, the European tourism sector is on track to post a strong recovery in 2023. The pent-up travel demand is expected to bring millions of tourists to Europe over the next few quarters. Consequently, to capitalize on the pent-up travel demand, there has been a strong influx of new hotel construction activities across the region.
Over the next three to four years, the expansion of hotel capacity across Europe will also accelerate the adoption of prefabricated construction activities in the region. From the short-term perspective, the publisher expects hotel construction activities to further pick up pace in 2023. This coupled with the growing demand for data centers, and the subsequent surge in the construction of new facilities is expected to keep supporting the growth of the commercial construction market in Europe over the next three to four years. In January 2023, Vantage Data Centers, for instance, announced that the firm is entering the British market with the development of a 48MW £500 million campus.-
Firms are scaling back or delaying construction projects due to surging inflation in Europe
Due to inflation and subsequent surge in the cost of living, consumer consumption power has declined significantly in Europe. Furthermore, the rising inflation has also affected the bottom line of many leading tech firms globally. Consequently, residential developers as well as tech firms are scaling back or delaying their projects in the region. For instance,
- In January 2023, Developer Code Living, which planned to construct approximately 1,000 homes in Yorkshire, revised the plan due to the surging cost of living and inflationary pressure. The tower, originally planned for 38-storeys and slated to be the tallest in Yorkshire when finished, will now include only 26-storeys.
- Intel, on the other hand, is also planning to delay the construction of its semiconductor manufacturing unit in Germany, due to an increase in construction costs. To accommodate inflation and rising material prices, the firm is also seeking public subsidies for the project. Originally, the firm had planned to start the construction activities in H1 2023 and chip production in 2027. However, amid the macroeconomic environment, the firm is set to delay construction activities.
From the short to medium-term perspective, the publisher expects more such project delays and scale back of construction activities because of the elevated construction prices and inflation in Europe.
Labor shortage to drive the growth of the prefabricated construction market in Europe
Ever since the pandemic outbreak, the labor shortage issue has been one of the major pain points for construction firms in Europe. With resulting project delays and higher labor costs, construction firms are projected to seek alternative solutions that can have a positive impact on their cash flow and bottom line.
The shift towards prefabricated construction provides an alternative solution for construction developers and firms. Firms are not only able to save on construction costs, but prefabricated construction also allows them to finish construction projects at a much faster rate and in a more controlled environment. Consequently, the publisher expects that persistent labor shortage issues faced by construction firms in Europe will lead to higher adoption of prefabricated construction methods over the next three to four years in the European region.
This report provides data and trend analyses on European construction industry, with over 100 KPIs. This is a data-centric report and it provides trend analyses with over 1,500+ charts and 1,200+ tables. It details market size & forecast, top cities construction data, emerging trends, market opportunities, and investment risks in over 40 segments in residential, commercial, industrial, institutional, and infrastructure construction sectors.
It provides a comprehensive understanding of construction industry sectors in both value and volume (both by activity and units) terms. The report focuses on combining industry dynamics with macro-economic scenario and changing consumer behavior to offer a 360-degree view of the opportunities and risks.
This title is a bundled offering, comprising 13 country reports:
- Country Report 1 - Austria Construction Industry Databook Series
- Country Report 2 - Belgium Construction Industry Databook Series
- Country Report 3 - Finland Construction Industry Databook Series
- Country Report 4 - France Construction Industry Databook Series
- Country Report 5 - Germany Construction Industry Databook Series
- Country Report 6 - Greece Construction Industry Databook Series
- Country Report 7 - Italy Construction Industry Databook Series
- Country Report 8 - Netherlands Construction Industry Databook Series
- Country Report 9 - Poland Construction Industry Databook Series
- Country Report 10 - Russia Construction Industry Databook Series
- Country Report 11 - Spain Construction Industry Databook Series
- Country Report 12 - Switzerland Construction Industry Databook Series
- Country Report 13 - United Kingdom Construction Industry Databook Series
Scope
Each country report covers the following:
- Market Data and Insights: This report provides market size and forecast across 40+ construction segments for a period of 10 years from 2018-2027. KPIs covered include the following:
- Market size by value
- Market size by volume of construction
- Number of units
Economic Indicators
Cities Construction Data
Residential Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by
- Housing type (multi family, single family)
- Key cities (Tier - 1, Tier - 2, Tier - 3 segmentation)
- Price point/income level (luxury, mid-tier, affordable)
- Construction stage (new construction, re-development & maintenance)
Residential Green Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by
- Green building by Housing type (multi family, single family)
- Green building by Key cities (Tier - 1, Tier - 2, Tier - 3 segmentation)
- Green building by Price point/income level (luxury, mid-tier, affordable)
Commercial Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by
- Office (further broken down by Grade A, Grade B, and Grade C)
- Retail (further broken down by Grade A, Grade B, and Grade C)
- Hospitality (further broken down by Grade A, Grade B, and Grade C)
- Restaurant (further broken down by Grade A, Grade B, and Grade C)
- Entertainment
- Sports facility
- Construction stage (new construction, re-development & maintenance)
Commercial Green Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by
- Office green building construction
- Retail green building construction
- Hospitality green building construction
- Restaurant green building construction
- Entertainment green building construction
- Sports facility green building construction
- Other commercial green building construction
Industrial Green Building Construction Coverage: 10-year market size & forecast in value and volume (area and units)
Institutional Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by
- Healthcare construction
- Educational construction
- Public sector
- Construction stage (new construction, re-development & maintenance)
Institutional Green Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by
- Healthcare green building construction
- Educational green building construction
Infrastructure Construction Sectors: 10- year market size & forecast in value terms by
- Marine and inland water infrastructure
- Utility system construction (oil and gas infrastructure, communication infrastructure, power infrastructure, water and sewer infrastructure)
- Transportation infrastructure (highway, street and bridge construction, railway construction, airport construction, and tunnel construction)
- Construction stage (new construction, re-development & maintenance)
Green Infrastructure Construction: 10- year market size & forecast in value terms
Reasons to buy
- In-depth Understanding of Construction Market Dynamics: Understand market opportunity, industry dynamics, key trends and drivers across 40+ market segments and sub-segments of Europe building and infrastructure construction industry.
- Top Ten Cities Construction Value Data-of each country
- Volume and Value Data: Get detailed understanding of the market both from value and volume (both by activity and units) perspective for historical as well as forecast period
- Develop Market Specific Strategies: Identify growth segments and target specific opportunities to formulate your strategy; assess market specific key trends, drivers and risks in construction industry.
- City Level Insights: Get city level trend analyses by tier-1, tier-2, and tier-3 cities.
For more information about this report visit https://www.researchandmarkets.com/r/nm81ml
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