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Construction in Hungary - Key Trends and Opportunities to 2024

Construction in Hungary - Key Trends and Opportunities to 2024

Summary

Prior to the Coronavirus (COVID-19) outbreak, the Hungarian construction industry expanded by 21.4% in real terms in 2019. However, with disruptions caused by the COVID-19 pandemic following strict lockdown measures, coupled with weak economic conditions, the industry has been severely impacted in 2020.

The Hungarian Central Statistical Office reported that the construction industry's value-add declined by 7.2% in the first six months of 2020 (the latest data available at the time of writing) compared to same period of 2019; this was preceded by annual growth of 15.1% and 13.0% in 2018 and 2019, respectively. In the coming quarters, the construction industry's output is expected to recover, driven by the government's focus on the development of the country's transport and energy infrastructure.

Reflecting the disruptions caused by the pandemic, coupled with the weak outlook for economic growth, GlobalData forecasts the construction industry to contract by 4.4% in 2020, followed by an average annual growth rate of 4.3% during the period of 2021-2024. This growth will be supported by the government's focus on developing the country's road infrastructure under the Hungarian village program. The government also aims to invest in renewable energy with plans to generate 100% of the total energy from renewable energy sources by 2030 will drive industry growth.

GlobalData's Construction in Hungary - Key Trends and Opportunities to 2024 report provides detailed market analysis, information, and insights into the Hungarian construction industry, including -
- The Hungarian 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 Hungarian 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 Hungary. It provides -
- Historical (2015-2019) and forecast (2020-2024) valuations of the construction industry in Hungary, 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 Hungary - Key Trends and Opportunities to 2024
Published By :GlobalData
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