Ireland Construction Market Size, Trends and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026
Description
Ireland Construction Market Size, Trends and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026
Summary
GlobalData estimates that Ireland’s construction industry will grow by 10.6% this year, following a 4.7% annual decrease in 2021. Despite this expansion, construction output levels in real terms will not surpass 2019 levels until 2023, owing to the sharp decline recorded in 2020. In the first quarter of 2022, construction activity jumped sharply on a year-on-year (Y-o-Y) basis, growing by 27%. However, output growth in the coming quarters will be dampened by the impact of high materials and energy prices, along with supply chain disruptions that have been exacerbated by the Russia-Ukraine conflict. Prices and availability of resources are projected to be under pressure until the end of 2022, according to the Society of Chartered Surveyors Ireland (SCSI). Labor shortages are also a factor in driving up overall construction costs, with the construction industry having to compete with other industries for workers. Investor confidence has been impacted by the uncertainty over how the Russia-Ukraine conflict will unfold, as well as monetary policy tightening.
Assuming that inflationary pressures are contained, there are no further rounds of coronavirus (COVID-19) restrictions on activity and the conflict in Ukraine does not escalate, Ireland’s construction industry is projected to expand by an annual average rate of 4.3% between 2023 and 2026. Activity will be supported by energy, transport, and residential investment. Through the National Development Plan (NDP) 2021-30 plan, the government plans to spend EUR165 billion ($197.1 billion) in infrastructure; this includes EUR35 billion (US$41.8 billion) on transport infrastructure, of which EUR12 billion (US$14.3 billion) will be on public transport, EUR13 billion (US$15.5 billion) on maintenance, EUR6 billion (US$7.2 billion) on road infrastructure, and EUR4 billion (US$4.8 billion) on walking and cycling infrastructure. Furthermore, the government has set a plan to invest EUR16 billion (US$19.1 billion) in energy projects and EUR7.2 billion ($8.6 billion) to EUR12.5 billion ($14.9 billion) in support to deliver 2.5GW of grid-scale solar, 8GW of onshore wind, and 5GW of offshore wind under the Renewable Electricity Support Scheme (RESS).
The report provides detailed market analysis, information, and insights into Ireland’s construction industry, including -
This report provides a comprehensive analysis of the construction industry in Ireland. It provides -
Summary
GlobalData estimates that Ireland’s construction industry will grow by 10.6% this year, following a 4.7% annual decrease in 2021. Despite this expansion, construction output levels in real terms will not surpass 2019 levels until 2023, owing to the sharp decline recorded in 2020. In the first quarter of 2022, construction activity jumped sharply on a year-on-year (Y-o-Y) basis, growing by 27%. However, output growth in the coming quarters will be dampened by the impact of high materials and energy prices, along with supply chain disruptions that have been exacerbated by the Russia-Ukraine conflict. Prices and availability of resources are projected to be under pressure until the end of 2022, according to the Society of Chartered Surveyors Ireland (SCSI). Labor shortages are also a factor in driving up overall construction costs, with the construction industry having to compete with other industries for workers. Investor confidence has been impacted by the uncertainty over how the Russia-Ukraine conflict will unfold, as well as monetary policy tightening.
Assuming that inflationary pressures are contained, there are no further rounds of coronavirus (COVID-19) restrictions on activity and the conflict in Ukraine does not escalate, Ireland’s construction industry is projected to expand by an annual average rate of 4.3% between 2023 and 2026. Activity will be supported by energy, transport, and residential investment. Through the National Development Plan (NDP) 2021-30 plan, the government plans to spend EUR165 billion ($197.1 billion) in infrastructure; this includes EUR35 billion (US$41.8 billion) on transport infrastructure, of which EUR12 billion (US$14.3 billion) will be on public transport, EUR13 billion (US$15.5 billion) on maintenance, EUR6 billion (US$7.2 billion) on road infrastructure, and EUR4 billion (US$4.8 billion) on walking and cycling infrastructure. Furthermore, the government has set a plan to invest EUR16 billion (US$19.1 billion) in energy projects and EUR7.2 billion ($8.6 billion) to EUR12.5 billion ($14.9 billion) in support to deliver 2.5GW of grid-scale solar, 8GW of onshore wind, and 5GW of offshore wind under the Renewable Electricity Support Scheme (RESS).
The report provides detailed market analysis, information, and insights into Ireland’s construction industry, including -
- Ireland’s 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 Ireland’s 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 Ireland. It provides -
- Historical (2017-2021) and forecast (2022-2026) valuations of the construction industry in Ireland, 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
- 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.
Table of Contents
53 Pages
- 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 COVID-19 Status
- 3.5 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
- 7 Appendix
- 7.1 What is this Report About?
- 7.2 Definitions
- 7.3 CRI Methodology
- 7.4 GlobalData Construction
- Contact Us
- List of Tables
- Table 1: Construction Industry Key Data
- Table 2: Ireland, Key Economic Indicators
- Table 3: Ireland, Commercial Construction Output by Project Type (Real % Change), 2017-26
- Table 4: Ireland, Top Commercial Construction Projects by Value
- Table 5: Ireland, Industrial Construction Output by Project Type (Real % Change), 2017-26
- Table 6: Ireland, Top Industrial Construction Projects by Value
- Table 7: Ireland, Infrastructure Construction Output by Project Type (Real % Change), 2017-26
- Table 8: Ireland, Top Infrastructure Construction Projects by Value
- Table 9: Ireland, Energy and Utilities Construction Output by Project Type (Real % Change), 2017-26
- Table 10: Ireland, Top Energy and Utilities Construction Projects by Value
- Table 11: Ireland, Institutional Construction Output by Project Type (Real % Change), 2017-26
- Table 12: Ireland, Top Institutional Construction Projects by Value
- Table 13: Ireland, Residential Construction Output by Project Type (Real % Change), 2017-26
- Table 14: Ireland, Top Residential Construction Projects by Value
- Table 15: Ireland, Key Contractors
- Table 16: Ireland, Key Consultants
- Table 17: Ireland, Construction Output Value (Real, $ Million)
- Table 18: Ireland, Construction Output Value (Nominal, EUR Million)
- Table 19: GlobalData Construction Market Definitions
- Table 20: Risk Dimensions
- Table 21: Ratings, Scores and Definitions
- List of Figures
- Figure 1: Western Europe, Construction Output (Real % Change), 2020-26
- Figure 2: Ireland, Construction Output by Sector (Real % Change), 2020-22 and 2023-26
- Figure 3: Ireland, COVID-19 Confirmed Cases
- Figure 4: Ireland, Risk Summary
- Figure 5: Ireland, Risk Regional Comparison
- Figure 6: Ireland, Construction Output Value (Real, $ Billion, 2017 Prices and Exchange Rate), 2017-26
- Figure 7: Ireland, Construction Output Value, by Sector (Real, $ Million), 2017-26
- Figure 8: Ireland, Construction Value Add (EUR Million, 2015 Chained Linked Volume Measures)
- Figure 9: Ireland, Construction Production Value Index, (2015=100)
- Figure 10: Ireland, Gross Fixed Capital Formation, in 2015 Chain Linked Volume Measures, % Change YoY
- Figure 11: Ireland, Total Number of Planning Permissions Granted for Construction, % Change YoY
- Figure 12: Ireland, Construction Purchasing Managers Index (PMI) (Seasonally Adjusted)
- Figure 13: Ireland, Construction Projects Momentum Index
- Figure 14: Region, Construction Projects Momentum Index
- Figure 15: Ireland, Commercial Construction Output by Project Type (Real, $ Million), 2017-26
- Figure 16: Ireland, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 17: Ireland, Number of Permit Planning Permissions Granted for Commercial Buildings
- Figure 18: Ireland, Overseas Arrivals (In Thousands)
- Figure 19: Ireland, Services Value Index (2015=100)
- Figure 20: Ireland, Retail Sales Volume and Value Indices, 2015=100
- Figure 21: Ireland, Industrial Construction Output by Project Type (Real, $ Million), 2017-26
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