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The Future of Construction in France
World Market Intelligence, Jan 2010, Pages: 103
This report is the result of our extensive market, company and deals research covering France construction market. It provides detailed segmentation of historic and forecast construction sales, segmented down to market and category level; analysis of the leading French companies in the construction market; and analysis of the key financial deals involving construction players in France. “The Future of Construction in France” provides both top-level overview and detailed market and category and company-specific insights into France’s construction industry environment. It is an essential tool for companies active across France’s construction value chain and for new players considering entering France’s construction market.
Construction Market Trends
- Some boom and bust: During the four year period from 2004-07, French households benefited from low interest rates and easier access to credit for mortgages; extended loan durations; and lower down-payment requirements. However, the global recession led to a decline in construction value during 2008. However, France was less badly affected than many countries, with the economy returning to growth of 0.3% in the third quarter of 2009.
- Stimulus package: President Nicolas Sarkozy has unveiled a €26.0 billion (US$32.9 billion) stimulus plan for the faltering French economy. The stimulus plan allocated €10.5 billion (US$15.4 billion) for infrastructure, research, and support for local authorities. This plan included €4.0 billion (US$5.8 billion) investment for state-owned rail, energy, and including a focus to speed up projects such as a fast speed train link in western France.
Construction Equipment Trends
- Strong growth turns to decline: During 2004-07, the French construction equipment market grew in line with the construction industry. In 2008 however, the global credit crunch hit the European construction equipment industry heavily. Not only did the source market decline, but since most equipment purchase are financed rather than settled through cash, the lack of credit availability negatively impacted the sales of construction equipment.
- Decline in future: WMI estimates that the French construction equipment market will continue to decline overall over the period 2009-12 and then start recovering with a slow pace.
Construction Materials Trends
- Growth continues: The French construction materials market is expected to be valued at €24.8 billion (US$36.5 billion) in 2014, as compared to an estimated value of €19.6 billion (US$28.8 billion) in 2009. The market is expected to achieve a CAGR of 4.9% over the period 2009-2014.
- Decline in cement consumption: The year 2008 was a hard year for the cement industry globally. France witnessed 3.0% decline in cement consumption in 2008 down to the 2006 level, due to decline in residential and non-residential construction.
Construction Deals Trends
- Wide variance in values: The value of major completed acquisitions tracked by WMI up to the end of October 2009 was US$5.9 billion. This value was US$4.6 billion in 2008 and US$2.0 billion in 2007.
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