Dublin, Sept. 02, 2024 (GLOBE NEWSWIRE) -- The "Austria Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2028 (H2 2024)" report has been added to ResearchAndMarkets.com's offering.
The construction industry in Austria is expected to shrink in real terms by 3.4% in 2024, owing to a decline in the residential building permits issued, elevated inflation, and high interest rates. Weakness in the overall construction industry in 2024 is due to a sharp real decline of 7.9% in the residential construction sector. According to Statistics Austria, the number of one or two dwelling building permits issued declined by 37.2% year on year (YoY) in 2023, preceded by an annual decline of 15.2% in 2022. Meanwhile, three and more dwelling buildings permits fell 28.3% YoY, during the same period, preceded by an annual decline of 20.1% in 2022.
Over the remainder of the forecast period, the Austrian construction industry is expected to register an annual average growth rate of 2.4% between 2025 and 2028, supported by public and private sector investments to develop the transport and renewable energy infrastructure, amid government's plan to expand its rail network by 2040 and produce 100% of the country's electricity through renewable energy sources by 2030.
In February 2024, the government announced 67 rail projects, worth the investment of EUR26 billion ($27.6 billion) until 2040. Some of the projects include a new double-track line in Bavaria and Upper Austria, and expansion of Vienna's local transport and Bregenz area's railway lines. As part of recent European Commission's (EC) Recovery and Resilience Plan (RRF), updated in November 2023, the government plans to invest EUR140.3 million ($148.7 million) to develop the photovoltaic and battery storage systems, and EUR210 million ($222.6 million) to support the country's growth of transitioning to green energy until 2026. The growth in the construction industry will also be supported by the government's plan to invest EUR3 billion ($3.2 billion) for the development of chip research and production in the country between 2024 to 2031.
The report provides detailed market analysis, information, and insights into the Austrian construction industry, including:
- The Austrian 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 Austrian construction industry
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.
This report provides a comprehensive analysis of the construction industry in Austria. It provides:
- Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in Austria, 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
Key Topics Covered:
1 Executive Summary
2 Construction Industry: At-a-Glance
3 Context
3.1 Economic Performance
3.2 Political Environment and Policy
3.3 Demographics
3.4 Risk Profile
4 Construction Outlook
4.1 All Construction
- Outlook
- Latest news and developments
- Construction Projects Momentum Index
4.2 Commercial Construction
- Outlook
- Project analytics
- Latest news and developments
4.3 Industrial Construction
- Outlook
- Project analytics
- Latest news and developments
4.4 Infrastructure Construction
- Outlook
- Project analytics
- Latest news and developments
4.5 Energy and Utilities Construction
- Outlook
- Project analytics
- Latest news and developments
4.6 Institutional Construction
- Outlook
- Project analytics
- Latest news and developments
4.7 Residential Construction
- Outlook
- Project analytics
- Latest news and developments
5 Key Industry Participants
5.1 Contractors
5.2 Consultants
6 Construction Market Data
For more information about this report visit https://www.researchandmarkets.com/r/9epo9d
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