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Construction in Denmark - Key Trends and Opportunities to 2025

Construction in Denmark - Key Trends and Opportunities to 2025

Summary

The Danish construction industry contracted by an estimated 3.5% in real terms in 2020, owing to a slowdown in building investments and civil engineering works due to outbreak of Coronavirus (COVID-19). Denmark was one of the first European countries to impose a lockdown in response to the COVID-19 pandemic, and construction activities were adversely affected as projects faced delays and subsequent cost overruns. According to Statistics Denmark, the industry's value-add declined by 6.7% year on year (YoY) in Q3 2020, and 5.9% in Q2 2020.

GlobalData expects the industry to recover in 2021 and grow by 1.7%, supported by investments in infrastructure, energy and utilities and residential construction projects. In a positive development, the government suspended the cap on the construction budget provided to municipalities, with an aim to increase funds provided to municipalities for development work, which in turn will boost the industry's output this year. According to Statistics Denmark, the sale of real estate property in the country grew by 30% YoY in November 2020 - this was preceded by growth of 21.6% in October and 21.4% in September 2020. However, a risk for the industry is the recent rise in infections across the country, which could lead to the slowdown of construction activities if containment measures are tightened.

Over the remainder of the forecast period, the industry is expected to register an average annual growth of 2.4% between 2022-2025, supported by improvements in investor and consumer confidence, and government investments on road, rail, renewable energy, and housing projects. The state-owned company Metroselskabet plans to invest DKK8.1 billion (US$1.2 billion) on M3 Cityring, M4 Nordhavn, and M4 Sydhavn metro projects between 2020-2024. Most planned spending, worth DKK6.9 billion (US$1 billion), is expected to be invested on the M4 Sydhavn metro project over the next four years. In addition to the ongoing metro projects, work on the Danish side of the DKK63.2 billion (US$9.5 billion) Fehmarn Belt link project, which started in January 2021, will support the industry's output in the medium term. In June 2020, the Danish parliament passed the Climate Act, legally binding the government to reach its target of reducing greenhouse gas emissions by 70% over the next ten years; this will attract investment towards renewable energy infrastructure in the long run.

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