This report provides detailed market
analysis, information and insights into the Czech construction market,
including:
- The Czech construction market’s
growth prospects by sector, project type and type of construction activity
- Analysis of equipment, material
and service costs across each project type within the Czech Republic
- Critical insight into the
impact of industry trends and issues and the risks and opportunities they
present to participants in the Czech construction market
- Assessment of the competitive
forces facing the construction industry in the Czech Republic and profiles
of the leading players
- Data highlights of the largest
construction projects in the Czech Republic
To
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Executive summary
The Czech construction industry saw
a steady decline in activity during the review period, registering a CAGR of
-5.65%. The country’s export-oriented manufacturing sector observed a fall in
investment following the financial crisis. This, along with a decline in
employment and low wage growth, led to a steady fall in domestic economic activity
and demand for new construction projects. Supply has been hampered as
developers are wary of the economic situation and have postponed new projects
until conditions improve.
The industry is expected to regain
momentum over the forecast period, with growth expected at a moderate CAGR of
2.13%. Future growth will be aided by a recovery in business confidence, an
increase in the number of smaller households, government plans to increase
nuclear energy use to 50% of total energy consumption by 2060 and an expected
increase in minimum wages, the first since 2007.
Scope
This report provides a comprehensive
analysis of the construction industry in the Czech Republic:
- Historical (2008-2012) and
forecast (2013-2017) valuations of the construction market in the Czech
Republic using the construction output and value-add methods
- Segmentation by sector
(commercial, industrial, infrastructure, institutional and residential)
and by project type
- Breakdown of values within each
project type, by type of activity (new construction, repair and
maintenance, refurbishment and demolition) and by type of cost (materials,
equipment and services)
- Analysis of key construction
industry issues, including regulation, cost management, funding and
pricing
- Assessment of the competitive
environment using Porter’s Five Forces
- Detailed profiles of the
leading construction companies in the Czech Republic
Reasons to buy
- Identify and evaluate market
opportunities using our standardized valuation and forecasting
methodologies
- Assess market growth potential
at a micro-level via 600+ time series data forecasts
- Understand the latest industry
and market trends
- Formulate and validate business
strategies by leveraging our critical and actionable insight
- Assess business risks,
including cost, regulatory and competitive pressures
- Evaluate competitive risk and
success factors
Key highlights
- The Czech economy contracted by
1.3% in 2012. This was mainly due to weak private consumption, gross fixed
capital formation and a sharp drain in inventories. Private consumption
declined by 3.6% in 2012, from 0.7% growth in 2011, owing to a slowdown in
disposable income, labor markets and fiscal austerity measures. Gross
capital formation also contracted by 3.3% in 2012 as investments slowed
down due to weak export markets and excess available capacity.
- The unemployment rate rose
marginally from 6.7% in 2011 to 6.8% in 2012. Weak economic growth
prospects and the government’s fiscal austerity measures are expected to
continue to negatively impact the unemployment situation in 2013.
Unemployment is expected to reach 7.5% in 2013 and increase to 7.9% in
2014. However, it is expected to ease gradually from 2015 as domestic
demand and the external environment improves.
- The Czech Republic’s
construction industry continued its weak performance in 2012; construction
output declined by 6.5%, while new orders contracted by 18.4%, and the
number of building permits fell by 8.8% in 2012, compared to the levels
recorded in 2011. The value of the construction industry declined by 20.8%
in 2012, compared to the level in 2008.
- The industry is expected to
decline further by 0.3% in 2013, due to low confidence among private
investors and the restricted potential of the federal budget, as the
government imposes specific austerity measures to control rising public
debt.
- There has been an increase in
the number of smaller households in the Czech Republic, owing to an
increase in the number of people living without partners, an increase in
the number of senior citizens, single-parent households, and a decline in
the number of marriages. The number of single-person households grew by
over 15% in the 1990s and is estimated to have increased by 10-20% per
annum between 2001 and 2011. The rise in the number of smaller households
is expected to increase demand for housing.
- The Czech Republic has plans to
increase its usage of nuclear energy from 32% of total energy consumption
in 2011 to over 50% by 2060. In accordance with the plan, two new nuclear
power plants will be constructed, one each at Temelin and Dukovany, and
further sites are expected to be identified in the coming years. The
expansion plan is expected to drive infrastructure construction over the
forecast period.
- The Czech Republic’s
manufacturing sector is reliant on exports as a key source of revenue. The
Eurozone crisis and slowdown in major global markets such as China and
India resulted in a decline in investment in the sector during the review
period, causing the manufacturing plants category to record a CAGR of
-5.86%. However, an anticipated recovery in major European countries at
the end of 2013 is expected to support the manufacturing sector to rebound
and drive the growth of manufacturing plants construction over the
forecast period to grow at a CAGR of 2.63%.
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