Construction in Croatia - Key Trends and Opportunities to 2022

  • ID: 4650524
  • Report
  • Region: Croatia
  • 45 pages
  • GlobalData
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Construction in Croatia - Key Trends and Opportunities to 2022

Summary

The Croatian construction industry’s forecast-period (2018-2022) outlook is better than its review-period (2013-2017) performance, with average annual growth in real terms set to accelerate from -0.2% to 2.5%. Government and private sector investment across residential, infrastructure, commercial and energy and utilities construction markets will drive forecast-period growth, as well as improving consumer and investor confidence.

Financial assistance from the European Union (EU) for infrastructure development will support industry growth. Under the European Structural and Investment Funds for 2014-2020, the EU is investing HRK96.6 billion (US$16.8 billion) until 2020 to develop the transport, education, research and innovation and energy sectors, as well as improving the competitiveness of micro, small and medium-sized enterprises (SMEs) and sustainable and quality employment. Furthermore, the EU plans to allocate HRK63.8 billion (US$10.4 billion) under the cohesion policy during 2021-2027. Thorough this, the government aims to boost the economy by supporting the implementation of transport and energy infrastructure projects, which bodes well for the industry over the forecast period.

The Author's "Construction in Croatia - Key Trends and Opportunities to 2022", 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.
Key Highlights
  • The Author expects residential construction market output to record a forecast-period CAGR of 5.65% in nominal terms, supported by rising residential building permits, and government efforts to provide financial support to home buyers. In 2017, the government launched state subsidies for housing loans program. The government plans to provide subsidized housing loans at an interest rate of 3.35%-3.75% per annum.
  • The government’s focus on renewable energy will drive the growth of the energy and utilities construction market over the forecast period. The government is continuously increasing the proportion of renewable energy in the total energy mix. In June 2018, Hrvatska Elektroprivreda (HEP), the state-owned energy company announced a plan to spend HRK45.0 million (US$7.1 million) to develop a new 6.5MW solar power plant in the country.
  • The government is focusing on the maintenance and modernization of transport infrastructure, with an aim to maintain the quality and competitiveness. In April 2018, the government approved the 2018 National Reform Program, under which it announced the restructuring of road and rail infrastructure. In August 2018, the government signed a contract to upgrade the Zagreb-Karlovac motorway.
  • To support economic development and growth, the government is focusing on high speed broadband network across the country. In June 2018, the government adopted National Program for the Development of Shared Broadband Infrastructure (NP-BBI) 2023. Under this, the government plans to invest HRK770.6 million (US$128.0 million) by 2023; of which 85.0% of the total investment will be financed by the European Regional Development Fund (ERDF).
  • The total construction project pipeline in Croatia, as tracked by the Author and including all mega projects with a value above US$25 million, stands at HRK154.2 billion (US$23.3 billion). The pipeline, which includes all projects from pre-planning to execution, is relatively skewed towards early-stage projects, with 56.1% of the pipeline value being in projects in the pre-planning and planning stages as of September 2018.
Scope

This report provides a comprehensive analysis of the construction industry in Croatia. It provides -
  • Historical (2013-2017) and forecast (2018-2022) 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 report'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 report's critical and actionable insight.
  • Assess business risks, including cost, regulatory and competitive pressures.
  • Evaluate competitive risk and success factors.
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Table of Contents

1. Executive summary

2. CONSTRUCTION OUTLOOK: AT-A-GLANCE

3. LATEST NEWS AND INDICATORS

4. KEY DRIVERS AND RISKS

4.1. Economic Performance
4.2. Political Environment
4.3. Demographics

5. CONSTRUCTION OUTLOOK

5.1. All Construction
5.1.1. Outlook
5.1.2. Project analytics
5.2. Commercial Construction
5.2.1. Outlook
5.2.2. Project analytics
5.3. Industrial Construction
5.3.1. Outlook
5.3.2. Project analytics
5.4. Infrastructure Construction
5.4.1. Outlook
5.4.2. Project analytics
5.5. Energy and Utilities Construction
5.5.1. Outlook
5.5.2. Project analytics
5.6. Institutional Construction
5.6.1. Outlook
5.6.2. Project analytics
5.7. Residential Construction
5.7.1. Outlook
5.7.2. Project analytics

6. KEY INDUSTRY PARTICIPANTS

6.1. Contractors
6.2. Consultants

7. APPENDIX

7.1. What is this Report About?
7.2. Definitions

8. About

8.1. The Author at a Glance
8.2. Construction
8.3. Disclaimer
8.4. Contact Us

List of Tables

Table 1: Construction Outlook
Table 2: Croatia, Key Economic Indicators
Table 3: Croatia, Construction Output Value (nominal, HRK Million)
Table 4: Croatia, Construction Output Value (nominal, US$ Million)
Table 5: Croatia, Top Commercial Construction Projects by Value
Table 6: Croatia, Top Industrial Construction Projects by Value
Table 7: Croatia, Top Infrastructure Construction Projects by Value
Table 8: Croatia, Top Energy and Utilities Construction Projects by Value
Table 9: Croatia, Top Institutional Construction Projects by Value
Table 10: Croatia, Top Residential and Mixed-Use Construction Projects by Value
Table 11: Croatia, Key Contractors
Table 12: Croatia, Key Consultants
Table 13: Construction Market Definitions
Table 14: Construction Risk Index Ratings and Scores

List of Figures

Figure 1: Key Markets, Construction Output Growth Matrix and Risk Matrix
Figure 2: Croatia, Construction Projects Pipeline by Sector (HRK Billion)
Figure 3: Croatia, Construction Permits (Total Numbers)
Figure 4: Croatia, Housing Price Index (Base-2015)
Figure 5: Croatia, Construction Output Value (Real, US$ million, 2017 prices and exchange rate)
Figure 6: Croatia, Construction Output Value, Growth Matrix
Figure 7: Croatia, Construction Output Value, by Sector (HRK Million), 2013-2022
Figure 8: Croatia, Construction Projects Pipeline, Projected Annual Spending by Stage (HRK Million), 2017-2022
Figure 9: Croatia, Construction Projects Pipeline, Value by Stage (HRK Million)
Figure 10: Croatia, Commercial Construction Output by Project Type (HRK Million), 2013-2022
Figure 11: Croatia, Commercial Construction Projects Pipeline, Value by Stage (HRK Million)
Figure 12: Croatia, Commercial Construction Projects Pipeline, Projected Annual Spending by Stage (HRK Million)
Figure 13: Croatia, Industrial Construction Output by Project Type (HRK Million), 2013-2022
Figure 14: Croatia, Industrial Construction Projects Pipeline, Value by Stage (HRK Million)
Figure 15: Croatia, Industrial Construction Projects Pipeline, Projected Annual Spending by Stage (HRK Million)
Figure 16: Croatia, Infrastructure Construction Output by Project Type (HRK Million), 2013-2022
Figure 17: Croatia, Infrastructure Construction Projects Pipeline, Value by Stage (HRK Million)
Figure 18: Croatia, Infrastructure Construction Projects Pipeline, Projected Annual Spending by Stage (HRK Million)
Figure 19: Croatia, Energy and Utilities Construction Output by Project Type (HRK Million), 2013-2022
Figure 20: Croatia, Energy and Utilities Construction Projects Pipeline, Value by Stage (HRK Million)
Figure 21: Croatia, Energy and Utilities Construction Projects Pipeline, Projected Annual Spending by Stage (HRK Million)
Figure 22: Croatia, Institutional Construction Output by Project Type (HRK Million), 2013-2022
Figure 23: Croatia, Institutional Construction Projects Pipeline, Value by Stage (HRK Million)
Figure 24: Croatia, Institutional Construction Projects Pipeline, Projected Annual Spending by Stage (HRK Million)
Figure 25: Croatia, Residential Construction Output by Project Type (HRK Million), 2013-2022
Figure 26: Croatia, Residential Construction Projects Pipeline, Value by Stage (HRK Million)
Figure 27: Croatia, Residential Construction Projects Pipeline, Projected Annual Spending by Stage (HRK Million)
Figure 28: Croatia, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 29: Croatia, Headquarters of Foreign Contractors (% of Project Pipeline with Foreign Contractor)
Figure 30: Croatia, Headquarters of Key Consultants (% of Total Project Pipeline)
Figure 31: Croatia, Headquarters of Foreign Consultants (% of Project Pipeline with Foreign Consultants) 38
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