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Construction in France - Key Trends and Opportunities to 2025

Construction in France - Key Trends and Opportunities to 2025

Summary

Prior to the Coronavirus (COVID-19) outbreak, the French construction industry grew by 2.6% in real terms in 2019. However, with the disruptions caused by the COVID-19 outbreak and the subsequent lockdown measures, the industry was severely impacted in 2020. According to Eurostat, the French construction industry contracted by 17.3% year on year (YoY) in the first three quarters of 2020. The industry's output in the final quarter of that year could be further affected by the second lockdown imposed in the country from late October to mid-December 2020, owing to an upsurge in COVID-19 infections. Although construction activities were exempted from the lockdown restrictions, work could be affected by labor shortages amid travel restrictions and social distancing measures. As a result of the latest lockdown, in November 2020 the Central Bank of France said that construction activities could fall by 8% of their normal levels.

Reflecting the disruptions caused by the pandemic, coupled with the weak outlook for economic growth, GlobalData estimates that the construction industry contracted by 13.6% in real terms in 2020; however, it is expected to rebound and grow by 8.6% this year. The sharp growth in 2021 will mainly be driven by the very low starting base in the previous year, particularly in the second quarter. Although short-term investments in the industry could be affected by the weak consumer and investor confidence, over the forecast period, output will be supported by government spending on overall infrastructure, particularly in preparation for the upcoming summer Olympic games in Paris in 2024. The government plans to spend EUR6.8 billion (US$8 billion) to develop and refurbish infrastructure by that year. Long-term growth in the industry will be also driven by the government's plan to invest EUR80 billion (US$94.4 billion) on transport infrastructure between 2018 and 2037, of which EUR2.4 billion (US$2.8 billion) was earmarked to be invested in the first two years alone. On a positive note, work is progressing on the EUR31.7 billion (US$37.4 billion) Grand Paris Express Metro Rail project, which is claimed to be the biggest urban mobility project currently underway in Europe.

This report provides detailed market analysis, information, and insights into the French construction industry, including -
- The French 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 French 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 France. It provides -
- Historical (2016-2020) and forecast (2021-2025) valuations of the construction industry in France, 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 France - Key Trends and Opportunities to 2025
Published By :GlobalData
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