Dublin, Nov. 13, 2023 (GLOBE NEWSWIRE) -- The "New Zealand Construction Market Size, Trend Analysis by Sector and Forecast, 2023-2027" report has been added to ResearchAndMarkets.com's offering.
New Zealand's construction industry is forecast to grow by 1.8% in real terms in 2023, following an estimated growth of 2.5% in 2022. Growth is expected to slow this year due to the impact of elevated material, energy and labour costs and the continued tightening of monetary policy by the Reserve Bank of New Zealand (RBNZ), on both economic and construction industry growth in the coming quarters.
Over the remainder of the forecast period, between 2024 and 2027, New Zealand's construction industry is expected to record an annual average growth of 3.3%, supported by investment in transport, energy, and housing projects. With an investment of NZD34.6 billion ($21.5 billion), the government plans to develop land transport services across the country under the 2021-24 National Land Transport Program (NLTP). Construction industry growth will also be supported by the government's aim to generate 100% of its electricity demand from renewable sources by 2030 and achieve its net-zero emissions target by 2050.
In October 2022, the government announced that it will invest NZD192 million ($119.3 million) in several housing developments and infrastructure projects across parts of regional New Zealand. More than half of the new funding - NDZ98.9 million ($61.5 million) will go towards Lower Hutt's RiverLink and Valley Floor intensification project. Through this investment, the government is also expected to supply 11,500 homes across multiple housing developments over the next 10-15 years, including affordable and public housing.
This report provides detailed market analysis, information, and insights into New Zealand's construction industry, including:
- New Zealand's construction industry's growth prospects by market, project type, and construction activity
- Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in New Zealand's construction industry
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.
This report provides a comprehensive analysis of the construction industry in New Zealand. It provides:
- Historical (2018-2022) and forecast (2023-2027) valuations of the construction industry in New Zealand, featuring details of key growth drivers.
- Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
- Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
- Listings of major projects, in addition to details of leading contractors and consultants
Key Topics Covered:
- Executive Summary
- Construction Industry: At-a-Glance
- Context
- Economic Performance
- Political Environment and Policy
- Demographics
- Risk Profile
- Construction Outlook
- All Construction
- Commercial Construction
- Industrial Construction
- Infrastructure Construction
- Energy and Utilities Construction
- Institutional Construction
- Residential Construction
- Key Industry Participants
- Contractors
- Consultants
- Construction Market Data
For more information about this report visit https://www.researchandmarkets.com/r/y4qswr
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