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Construction in Ireland - Key Trends and Opportunities to 2024

  • ID: 5144771
  • Report
  • July 2020
  • Region: Ireland
  • 48 pages
  • GlobalData
1h Free Analyst Time

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Construction in Ireland - Key Trends and Opportunities to 2024

Summary

The Irish construction industry expanded by 5.8% in real terms in 2019, driven by public and private sector investments in both building and civil engineering works. The country’s construction industry remained strong in Q1 2020 ahead of the COVID-19 crisis, with the seasonally adjusted construction production value index growing by 15.4% year-on-year (y-o-y), and the construction production volume index growing by 14.9% y-o-y, according to the Central Statistics Office (CSO).

Construction activities were affected by the temporary shutdown of most construction sites across the country in Q2 2020, in line with the nationwide lockdown restrictions, with an exemption to construction works which were considered essential. The Irish construction sector was the only one in the European Union to shut down completely amid the pandemic. According to the Central Bank of Ireland, the industry’s activity is expected to fall by nearly 25% this year, as most of the construction work was halted for nearly two months. The disruptions caused to the Irish construction industry are reflected in the Ulster Bank’s Construction Purchasing Managers Index (PMI), which fell to a historic low in April 2020. In a positive development, in April, the government announced a series of measures to ensure the delivery of Exchequer-funded capital projects under the Project Ireland 2040, which will provide some boost to the industry. Although construction sites re-opened in mid-May, the central bank expects the completion date of projects to be moved back by several months, as social distancing measures are weighing on productivity at some sites. Furthermore, the slowing building permits will also weigh on the construction of new projects over the short and medium terms.

Reflecting the disruptions caused by the pandemic, coupled with a weak outlook for economic growth, the publisher forecasts the construction industry to contract by 9.7% in 2020. Over the remaining part of the forecast period, output is expected to register an average growth of 5.5% between 2021-2024. The sector’s output will be supported by the government’s investment on transport and housing infrastructure, and its focus on reducing greenhouse gas emissions in the country, which will attract public and private sector investment on renewable energy infrastructure projects.

This report provides detailed market analysis, information and insights into the Irish construction industry, including -
  • The Irish 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 Irish construction industry
  • Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline
Scope

This report provides a comprehensive analysis of the construction industry in Ireland. It provides -
  • Historical (2015-2019) and forecast (2020-2024) valuations of the construction industry in Ireland, 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 publisher'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 publisher's critical and actionable insight.
  • Assess business risks, including cost, regulatory and competitive pressures.
  • Evaluate competitive risk and success factors.
Note: Product cover images may vary from those shown
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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. COVID-19 Status

4 Construction Outlook
4.1. All Construction
4.1.1. Outlook
4.1.2. Latest news and developments
4.1.3. Construction Projects Momentum Index
4.2. Commercial Construction
4.2.1. Outlook
4.2.2. Project analytics
4.2.3. Latest news and developments
4.3. Industrial Construction
4.3.1. Outlook
4.3.2. Project analytics
4.3.3. Latest news and developments
4.4. Infrastructure Construction
4.4.1. Outlook
4.4.2. Project analytics
4.4.3. Latest news and developments
4.5. Energy and Utilities Construction
4.5.1. Outlook
4.5.2. Project analytics
4.5.3. Latest news and developments
4.6. Institutional Construction
4.6.1. Outlook
4.6.2. Project analytics
4.6.3. Latest news and developments
4.7. Residential Construction
4.7.1. Outlook
4.7.2. Project analytics
4.7.3. Latest news and developments

5 Key Industry Participants
5.1. Contractors
5.2. Consultants

6 Construction Market Data

7 Appendix
7.1. What is this Report About?
7.2. Definitions

8 About the Publisher
8.1. The Publisher in Construction
8.2. Disclaimer
8.3. Contact

List of Tables
Table 1: Construction Industry Key Data
Table 2: Ireland, Key Economic Indicators
Table 3: Ireland, Commercial Construction Output by Project Type (real % change), 2015-2024
Table 4: Ireland, Top Commercial Construction Projects by Value
Table 5: Ireland, Industrial Construction Output by Project Type (real % change), 2015-2024
Table 6: Ireland, Top Industrial Construction Projects by Value
Table 7: Ireland, Infrastructure Construction Output by Project Type (real % change), 2015-2024
Table 8: Ireland, Top Infrastructure Construction Projects by Value
Table 9: Ireland, Energy and Utilities Construction Output by Project Type (real % change), 2015-2024
Table 10: Ireland, Top Energy and Utilities Construction Projects by Value
Table 11: Ireland, Institutional Construction Output by Project Type (real % change), 2015-2024
Table 12: Ireland, Top Institutional Construction Projects by Value
Table 13: Ireland, Residential Construction Output by Project Type (real % change), 2015-2024
Table 14: Ireland, Top Residential and Mixed-Use Construction Projects by Value
Table 15: Ireland, Key Contractors
Table 16: Ireland, Key Consultants
Table 17: Ireland, Construction Output Value (Real, US$ Million)
Table 18: Ireland, Construction Output Value (nominal, EUR Million)
Table 19: The Publisher in Construction Market Definitions

List of Figures
Figure 1: Western Europe, Construction Output (real % change), 2020
Figure 2: Ireland, Construction Projects Pipeline by Sector (US$ Billion)
Figure 3: Ireland, COVID-19 Confirmed Cases
Figure 4: Ireland, Construction Output Value (Real, US$ billion, 2017 prices and exchange rate), 2015-2024
Figure 5: Ireland, Construction Output Value, by Sector (Real, US$ Million), 2015-2024
Figure 6: Ireland, Construction Value-Add (EUR Million, 2015 chained linked volume measures)
Figure 7: Ireland, Construction Production Value Index, seasonally adjusted (2015=100)
Figure 8: Ireland, Total Gross Fixed Capital Formation, (EUR Million, 2015 chained linked volume measures)
Figure 9: Ireland, Construction Purchasing Managers Index (PMI) (seasonally adjusted)
Figure 10: Ireland, Planning Permissions Granted for Construction (Number)
Figure 11: Ireland, Construction Projects Momentum Index
Figure 12: Ireland, Commercial Construction Output by Project Type (Real, US$ Million), 2015-2024
Figure 13: Ireland, Commercial Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 14: Ireland, Total Tourist Arrivals (y-o-y growths)
Figure 15: Ireland, Services Index (2015=100)
Figure 16: Ireland, Retail Sales Index (Seasonally adjusted, 2015-100)
Figure 17: Ireland, Industrial Construction Output by Project Type (Real, US$ Million), 2015-2024
Figure 18: Ireland, Industrial Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 19: Ireland, Manufacturing Value-Add (EUR Billion, 2015 chained linked volume measures)
Figure 20: Ireland, Industrial and Manufacturing Production Index (Seasonally adjusted, 2015=100)
Figure 21: Ireland, Total Exports (in EUR Billion)
Figure 22: Ireland, Infrastructure Construction Output by Project Type (Real, US$ Million), 2015-2024
Figure 23: Ireland, Infrastructure Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 24: Ireland, Energy and Utilities Construction Output by Project Type (Real, US$ Million), 2015-2024
Figure 25: Ireland, Energy and Utilities Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 26: Ireland, Institutional Construction Output by Project Type (Real, US$ Million), 2015-2024
Figure 27: Ireland, Institutional Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 28: Ireland, Residential Construction Output by Project Type (Real, US$ Million), 2015-2024
Figure 29: Ireland, Residential Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 30: Ireland, Residential Planning Permits (Total Number)
Figure 31: Ireland, Dwelling Completion (Total Number)
Figure 32: Ireland, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 33: Ireland, Headquarters of Key Consultants (% of Total Project Pipeline)
Figure 34: The Publisher at a Glance
Note: Product cover images may vary from those shown
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