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Construction in Italy - Key Trends and Opportunities to 2022

Construction in Italy - Key Trends and Opportunities to 2022

Summary

GlobalData's "Construction in Italy - Key Trends and Opportunities to 2022", report provides detailed market analysis, information and insights into the Italian construction industry.

After contracting since 2008, the Italian construction industry posted a slight recovery in 2016, which continued in 2017 supported by improving economic conditions and business confidence.

Following elections in March 2018, the anti-establishment Five Star Movement (M5S) and the far-right League Party formed a coalition government in June 2018, ending months of deadlock. The new coalition government has announced that it has no intention of leaving the euro and plans to focus on cutting debt levels, looking to boost growth through investment, and structural reforms rather than deficit spending. Public construction programs and projects will continue, but they may face some delays over the coming months. New initiatives may also be introduced by the government in a bid to boost productivity, growth and employment.

The industry's output value in real terms is expected to record a compound annual growth rate (CAGR) of 1.74% over the forecast period (2018-2022) - up from -1.41% during the review period (2013-2017).

The report provides -

- The Italian 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 Italian 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 residential construction market to retain its leading position over the forecast period, with a share of 59.3% of the industry's total value in 2022, driven by the government's focus on affordable housing and rising building permits in the country. In 2017, the government allocated EUR2.0 billion (US$2.3 billion) to provide loans to low- and middle-income households for the construction of their own houses.

- In February 2017, the government launched Industrial Plan 4.0, under which the government aims to increase the number of small and medium enterprises (SMEs) and their production capacity. Accordingly, in 2017, the government announced plans to provide tax exemptions of 30.0% to new innovative startups with an investment value of up to EUR1.0 million (US$1.1 million).

- GlobalData expects infrastructure construction market output to record a forecast-period CAGR of 3.64% in nominal terms, supported by the government's effort to develop the country's transport infrastructure. In February 2018, the government announced plans to spend EUR172.0 million (US$202.3 million) for the maintenance, electrification and development of railway infrastructure during the period 2018-2020.

- In November 2017, the government announced plan to phase out all coal fired power plant by 2025 and increase the power generation capacity of renewable sources. The government aims to generate 27% of the total country's energy demand from renewable sources by 2030, compared to 17.5% in 2017. Accordingly, the government plans to increase the capacity of solar power photovoltaic (PV) cells from 23.0Twh in 2017 to 72.0Twh by 2030.

- The total construction project pipeline in Italy, as tracked by the Construction Intelligence Center (CIC), including all mega projects with a value above US$25 million, and stands at EUR223.5 billion (US$252.1 billion). The pipeline, which includes all projects from pre-planning to execution, is skewed towards late stage projects, with 62.0% of the pipeline value being in projects in the pre-execution and execution stages as of June 2018.

Scope

This report provides a comprehensive analysis of the construction industry in Italy. It provides -

- Historical (2013-2017) and forecast (2018-2022) valuations of the construction industry in Italy, 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 Italy - Key Trends and Opportunities to 2022
Published By :GlobalData
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