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Construction in Poland - Key Trends and Opportunities to 2023

Construction in Poland - Key Trends and Opportunities to 2023

Summary

The Polish construction industry regained growth momentum in 2018, with output expanding by 17.0% in real terms - up from 6.5% in 2017. Growth during the review period was supported by public and private sector investment in residential, industrial, commercial and transport infrastructure projects, leading to an increase in demand for the Polish construction industry.

The industry's output value is expected to continue to expand in real terms over the forecast period (2019-2023), driven by the government's plans to upgrade the country's transport infrastructure. The government plans to invest PLN40.0 billion (US$11.1 billion) to develop a high-speed rail network and PLN35.0 billion (US$9.7 billion) to construct a new hub airport under the Central Communications Port (CCP) project by 2027. In addition, public and private sector investments in commercial, industrial and residential construction projects are expected to support growth in the industry over the forecast period. The government's aim to improve energy resources is also expected to support investment in energy infrastructure projects, which will in turn fuel growth in the industry.

The industry's output value in real terms is expected to post a compound annual growth rate (CAGR) of 4.61% over the forecast period. The industry is consequently expected to rise from a value of US$118.6 billion in 2018 to US$148.6 billion in 2023, measured at constant 2017 US dollar exchange rates.

GlobalData's "Construction in Poland - Key Trends and Opportunities to 2023", report provides detailed market analysis, information and insights into the Polish construction industry, including -
- The Polish 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 Polish 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

- Globaldata expects the infrastructure construction market to account for 32.5% of the industry's total value in 2023. Market output over the forecast period is expected to be supported by the government's plan to develop and modernize the country's transport infrastructure. The government is focusing on developing transport infrastructure to improve the mobility of people and services, road traffic safety, support economic growth and decrease transport costs. The government aims to develop 3,900km of new motorways and expressways across the country by 2023.
- Industrial construction market's growth over the forecast-period is expected to be driven by an increase in industrial and manufacturing activities, as well as positive developments in domestic and regional economic conditions. Poland's strategic location in the center of Europe, economic stability, educated and competent human capital, favorable foreign investment policy and strong infrastructure transport links are expected to lead to a rise in investments, which will also drive growth in the industrial construction market over the forecast period.
- GlobalData expects the energy and utilities construction market to register a forecast-period CAGR of 7.55% in nominal terms, driven by the government's focus on telecommunications infrastructure. The government aims to develop the country's broadband network by 2020. The government aims to provide internet access to all citizens and equip 100% of households with an internet connection speed of 30Mbps and 50% of households with an internet connection speed of 100Mbps by 2020.
- Institutional construction market's forecast-period growth will be driven by public and private sector investment in education and healthcare construction projects. In the 2019 draft budget, the government announced a plan to increase the central education budget by 6.6% to PLN46.0 billion (US$12.7 billion). To support the country's healthcare and education sectors, the EIB approved PLN390.0 million (US$107.4 million) in the first quarter of 2019 to upgrade university hospitals in Lublin and Gdansk, which will support construction activity over the forecast period.
- The total construction project pipeline in Poland - as tracked by GlobalData, and including all mega projects with a value above US$25 million - stands at PLN623.4 billion (US$172.5 billion). The pipeline, which includes all projects from pre-planning to execution, is well balanced, with 50.9% of the pipeline value being in projects in the pre-planning and planning stages as of April 2019.

Scope

This report provides a comprehensive analysis of the construction industry in Poland. It provides -
- Historical (2014-2018) and forecast (2019-2023) valuations of the construction industry in Poland, 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 GlobalData'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 GlobalData's critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
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Construction in Poland - Key Trends and Opportunities to 2023
Published By :GlobalData
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