Dublin, June 11, 2024 (GLOBE NEWSWIRE) -- The "Croatia 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.
Croatia's construction industry is expected to grow by 4.4% in real terms in 2024, supported by an increase in the total construction permits issued, and the government's investment in transport infrastructure projects. According to the Croatian Bureau of Statistics (CBS), the construction industry's value add grew by 8.4% year on year (YoY) in Q4 2023, preceded by Y-o-Y growth of 4.8% in Q3 and 0.9% in Q2 2023. In addition, the CBS reported that the value of new construction orders rose by 35.1% YoY in Q4 2023, preceded by an annual growth of 25% in 2022. The fourth installment of the National Recovery and Resilience Plan was received by Croatia in April 2024.
A total of EUR162.5 million ($166.4 million) was disbursed to be used by 2026, which is targeted at making investments in public administration, public procurement, early and preschool education, along with the investments in the decarbonization of the energy sector, electronic communications, research and innovation as well as healthcare. As of April 2024, EUR3 billion ($3.1 billion) have been received by Croatia from the Recovery and Resilience Facility, which must be used by 2026.
Over the remainder of the forecast period, the construction industry's output is forecast to record an annual average growth rate of 3.1% during 2025-28, supported by investments in hospitality, transportation, renewable energy and liquefied natural gas (LNG) projects. The European Investment Bank (EIB) signed a loan contract worth EUR400 million ($409.6 million) in February 2024, with the Croatian government. The loan will be used for boosting sustainable transport and to reconstruct 500km of local and regional railways in the country, along with rebuilding of 30 railway stations. Valamar, a Croatian tourism company is planning to invest EUR450 million ($460.8 million) in tourism industry. The plan involves the construction of two new resorts in Pical and Rab, also upgrading the infrastructure of existing hotels and campsites, by 2026.
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 construction activity
- Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in the Croatian 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 Croatia. It provides:
- Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in Croatia, 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. Latest News and Developments
4. Project Analytics
5. Construction Market Data
6. Risk Profile
7. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/ymrulp
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