The publisher expects New Zealand’s construction industry to grow by 1.6% in real terms in 2024, before recording an average annual growth of 3.8% from 2025 to 2028, supported by investment in transport, energy, and housing projects. Funding of NZD21 billion ($12.9 billion) from 2024 to 2027 as part of the draft Government Policy Statement (GPS) on land transport, will provide support to the sector. This would be a potential increase of 34.2% compared to the funding of NZD15.6 billion ($9.6 billion) from 2021 to 2024. The current government has, however, signalled its intention to adjust the GPS on land transport, though investment levels are expected to remain robust. The government has outlined its aim to construct a rapid transit network in Auckland, including the completion of the City Rail Link, and start work on a Northwest Rapid Transit corridor.
The industry's growth over the forecast period will also be supported by investment in transport, energy, housing, health, and education infrastructure projects. New Zealand aims to meet 100% of its electricity demand from renewable sources by 2030 and achieve net-zero emissions target by 2050. Growth in the residential sector will be supported by investment as part of the ‘’Public Housing Plan’, which aims to increase public housing supply in the country, with a special focus on areas that are experiencing high rates of population growth. The Ministry of Housing unveiled its “Updated Public Housing Plan: 2024 -2025” in late September 2023, outlining the locations of the 3,000 public homes that will be built by 2025.
The industry's growth over the forecast period will also be supported by investment in transport, energy, housing, health, and education infrastructure projects. New Zealand aims to meet 100% of its electricity demand from renewable sources by 2030 and achieve net-zero emissions target by 2050. Growth in the residential sector will be supported by investment as part of the ‘’Public Housing Plan’, which aims to increase public housing supply in the country, with a special focus on areas that are experiencing high rates of population growth. The Ministry of Housing unveiled its “Updated Public Housing Plan: 2024 -2025” in late September 2023, outlining the locations of the 3,000 public homes that will be built by 2025.
The Construction in New Zealand – Key Trends and Opportunities to 2028 (H1 2024) report provides detailed market analysis, information, and insights into New Zealand’s construction industry, including -
- New Zealand’s 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 New Zealand’s 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 New Zealand. It provides -- Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in New Zealand, 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 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 critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
Table of Contents
1 Executive Summary2 Construction Industry: At-a-Glance6 Construction Market Data
3 Context
4 Construction Outlook
5 Key Industry Participants
7 Appendix
List of Tables
List of Figures
