Research and Markets (http://www.researchandmarkets.com/research/sxz4fl/construction_in) has announced the addition of the "Construction in Ireland Key Trends and Opportunities to 2017" report to their offering.
The Irish construction industry valued EUR10.9 billion (US$15.2 billion) in 2012, after declining at a CAGR of -28.25% over the review period (2008-2012). All construction categories registered negative growth, largely as a result of the economic slowdown experienced after the financial crisis and austerity measures implemented by the government. The Irish economy entered recession in 2008 and contracted by -5.2%. In 2009, the financial crisis also severely affected the country's economy. Ireland's GDP registered a growth rate of 1.4% and increased in value from EUR156.5 billion (US$207.8 billion) in 2010 to EUR158.7 billion (US$221.1 billion) in 2011. Ireland's budget deficit stood at 8.2% of its GDP in 2012, well above the EU's limit of 3%. The government plans to implement budget cuts and tax increases to reduce the deficit to 7.5% of GDP in 2013 and less than 3% by 2015. The global financial crisis adversely affected consumer confidence, causing a decline in investment in the construction industry.
Key Highlights
The Irish construction industry valued EUR10.9 billion (US$15.2 billion) in 2012, after declining at a CAGR of -28.25% over the review period (2008-2012). All construction categories registered negative growth, largely as a result of the economic slowdown experienced after the financial crisis and austerity measures implemented by the government.
Commercial construction recorded a CAGR of -32.93% during the review period, the largest decline out of all construction markets in Ireland. The Irish retail sector has seen subdued levels of investment since 2008; fear of government spending cuts and tax hikes are discouraging businesses from making large investments. Consumer spending is cautious, owing to high unemployment, low wage growth and a depressed economic outlook.
The country's budget deficit stands above the prescribed limit of 3%, which has forced the government to implement austerity measures including health and education sector cuts. Consequently, the institutional construction market is expected to record a slow CAGR of 0.06% over the forecast period, to value EUR1 billion (US$1.4 billion) in 2017.
The Irish seasonally-adjusted standardized unemployment rate stood at 14.8% in 2012, while the budget deficit reached 8.2% of GDP in the same year. Moreover, the domestic demand for goods and services declined.
The government has announced real estate investment trusts and reduced VAT for the tourism sector in order to support the commercial construction market.
Key Topics Covered:
1 Executive Summary
2 Introduction
3 Construction Industry Dynamics
4 Market Dynamics
5 Construction Value Add
6 Business Attractiveness
7 Price Dynamics
8 Porter's Five Forces Analysis of the Irish Construction Industry
9 Total Construction Activity
10 Construction Output
11 Construction Value Add
12 Company Profile: Kingspan Group Plc
13 Company Profile: Quinn Manufacturing Group
14 Company Profile: BAM Contractors
15 Company Profile: B C Contractors Ltd
16 Company Profile: SISK Group
17 Top 10 Project Profiles Scope, Description Background
17.1 Dublin City Council Garryhinch Water Based Eco Park Development Co. Offaly
17.2 Intel Corporation Intel Leixlip Microchip Manufacturing Plant Co. Kildare
17.3 Irish Rail Dublin to Navan Railway Line Co. Meath
17.4 NPHDB Eccles Street New National Pediatric Hospital Dublin
17.5 SLL Shannon LNG Regasification Terminal Co. Kerry
17.6 Treasury Holdings Ballymun Town Center Regeneration Dublin
17.7 DoT Dublin-Broombridge Tram Line Development
17.8 LLY Dunderrow Biopharmaceutical Facility Co.Cork
17.9 NRA Arklow-Rathnew Carriageway N11 Co. Wicklow
17.10 SEPIL Corrib Gas Onshore Pipeline Tunnel Co. Mayo
18 Construction Indicators
For more information visit http://www.researchandmarkets.com/research/sxz4fl/construction_in.
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Sector: Construction
