Dublin, June 11, 2024 (GLOBE NEWSWIRE) -- The "Romania Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2024-2028" report has been added to ResearchAndMarkets.com's offering.
The Romanian construction industry is forecast to shrink by 4.6% in real terms in 2024, owing to high inflation and elevated interest rates, coupled with rising construction costs, and falling residential building permits. According to the National Statistics Institute (NIS), the average construction cost index rose by 11.7% year-on-year (YoY) in the first two months of 2024, preceded by an annual growth of 8.2% in 2023. Moreover, the total number of residential building permits issued in the country fell by 5.7% YoY in the first two months of 2024, following an annual fall of 20.6% in 2023.
The industry is expected to recover at an average annual rate of 3.7% from 2025 to 2028, owing to investments in infrastructure, renewable energy, and housing infrastructure projects. Growth will also be supported by investments as part of the National Recovery and Resilience Plan (NRRP) approved in December 2023, which involves grants worth RON59.1 billion ($12.9 billion) to support the green transition, and REPowerEU grants worth RON6.9 billion ($1.5 billion).
Forecast period growth in the industry will also be supported by improved investments in the energy sector, as a part of government's commitment to increase the share of renewable energy, in total energy consumption to 36% in 2030 from 30.6% in 2023. In March 2024, the European Commission approved Romania's RON14.7 billion ($3.2 billion) scheme to support the construction and operation of new solar photovoltaic (PV) facilities and onshore wind farms. The scheme was approved under the Temporary Crisis and Transition Framework for state aid, and the aid will be provided through a competitive bidding process by the end of next year.
This report provides detailed market analysis, information, and insights into the Romanian construction industry, including:
- The Romanian 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 the Romanian construction industry
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline
The report provides a comprehensive analysis of the construction industry in Romania. It provides:
- Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in Romania, 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
Reasons to Buy
- Identify and evaluate market opportunities using the analyst's 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 the analyst's critical and actionable insight
- Assess business risks, including cost, regulatory and competitive pressures
- Evaluate competitive risk and success factors
Key Topics Covered
1 Executive Summary
2 Construction Industry: At-a-Glance
3 Context
3.1 Economic Performance
3.2 Political Environment and Policy
3.3 Demographics
3.4 Risk Profile
4 Construction Outlook
4.1 All Construction
4.2 Commercial Construction
4.3 Industrial Construction
4.4 Infrastructure Construction
4.5 Energy and Utilities Construction
4.6 Institutional Construction
4.7 Residential Construction
5 Key Industry Participants
5.1 Contractors
5.2 Consultants
6 Construction Market Data
For more information about this report visit https://www.researchandmarkets.com/r/lw0rg5
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