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
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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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