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Construction in Belgium – Key Trends and Opportunities to 2021

Construction in Belgium – Key Trends and Opportunities to 2021

Synopsis

The construction industry in Belgium grew by 3.5% in real terms in 2016. This was preceded by an annual growth of 1.5% in 2014 and 3.2% in 2015, driven by government investments in transport, residential and renewable energy infrastructure. The government’s investments in nuclear power plants and high-speed internet infrastructure also supported growth during the review period (2012–2016).

Over the forecast period (2017–2021), further growth is expected to be supported by improvements in business confidence, which will drive investment in infrastructure, commercial, residential projects and energy infrastructure. The focus on the development of renewable energy infrastructure is also expected to drive industry growth. The government aims to generate 13% of the country’s total electricity consumption from renewable sources by 2020, compared to 7.9% in 2015.

According to the National Bank of Belgium (NBB), the country’s average construction production index at 2010 base prices increased by 0.7%, rising from 98.4 in 2015 to 99.1 in 2016. During the first eight months of 2017 (the latest data available at the time of writing), the average construction production index rose by 1.0% compared with the same period in 2016, increasing from 98.0 in January–August 2016 to 99.0 in January–August 2017.

The industry’s output value in real terms is anticipated to increase at a CAGR of 2.3% over the forecast period, compared to a CAGR of 1.6% during the review period.

Summary

Timetric’s Construction in Belgium – Key Trends and Opportunities to 2021 report provides detailed market analysis, information and insights into the Belgian construction industry, including:

  • The Belgian construction industry's growth prospects by market, project type and construction activity
  • Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in the Belgian construction industry
  • Profiles of the leading operators in the Belgian construction industry
Scope

This report provides a comprehensive analysis of the construction industry in Belgium. It provides:
  • Historical (2012-2016) and forecast (2017-2021) valuations of the construction industry in Belgium using construction output and value-add methods
  • Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
  • Breakdown of values within each project type, by type of activity (new construction, repair and maintenance, refurbishment and demolition) and by type of cost (materials, equipment and services)
  • Detailed profiles of the leading construction companies in Belgium
Reasons To Buy
  • Identify and evaluate market opportunities using Timetric'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 Timetric's critical and actionable insight.
  • Assess business risks, including cost, regulatory and competitive pressures.
  • Evaluate competitive risk and success factors.
Key Highlights
  • Timetric expects the residential construction market to retain its leading position over the forecast period, with a share of 47.8% of the industry’s total value in 2021. The market is expected to record a forecast-period CAGR of 4.05% in nominal terms, driven by low housing interest rates and increases in residential buildings permits, coupled with rising population and urbanization.
  • The government is focusing on the development of rail, road and other transport infrastructure, with an aim to improve regional connectivity, which in turn will drive the growth of the infrastructure construction market over the forecast period. The country’s average construction production index at 2010 base prices for civil engineering work increased by 1.8%, rising from 102.6 in 2015 to 104.4 in 2016. Moreover, it increased by 1.8% during the first eight months of 2017 when compared to the same period in 2016, rising from 102.3 in January–August 2016 to 104.6 in January–August 2017.
  • To support economic development and growth, the government is focusing on the construction of a high speed broadband network across the country under the Digital Belgium Plan (2015–2020). Under this plan, the government aims to provide an internet connection speed of up to 1.0Gbps to half of all citizens by 2020.
  • Timetric expects the energy and utility market to record a forecast period CAGR of 4.62% in nominal terms, driven by the government’s investment in electricity power plants and renewable energy infrastructure. In July 2017, the European Investment Bank (EIB) sanctioned a loan of EUR100 million (US$110.6 million) to the Elia, the major transmission system operator, for the period of seven years to expand the electricity network across the country.
  • The government’s efforts to provide quality education to all sections of the population will support investments in the educational buildings category over the forecast period. In October 2017, the ministry of education announced plans to increase spending on primary education by 30% in 2018. Through this, the government aims to develop primary educational infrastructure in rural areas.


  • Executive Summary
  • Industry Outlook
    • Commercial Construction
    • Industrial Construction
    • Infrastructure Construction
    • Energy and Utilities Construction
    • Institutional Construction
    • Residential Construction
  • Key Issues and Developments
  • Market Data Analysis
    • Construction Output and Value Add
      • Construction output by project type
        • Table Belgian Construction Output by Project Type (EUR Million), 2012-2016
        • Table Belgian Construction Output by Project Type (EUR Million), 2016-2021
      • Construction output by cost type
        • Table Belgian Construction Output by Cost Type (EUR Million), 2012-2016
        • Table Belgian Construction Output by Cost Type (EUR Million), 2016-2021
      • Construction output by activity type
        • Table Belgian Construction Output by Activity Type (EUR Million), 2012-2016
        • Table Belgian Construction Output by Activity Type (EUR Million), 2016-2021
      • Construction value add by project type
        • Table Belgian Construction Value Add by Project Type (EUR Million), 2012-2016
        • Table Belgian Construction Value Add by Project Type (EUR Million), 2016-2021
    • Commercial Construction
      • Commercial construction output by project type
        • Table Belgian Commercial Construction Output by Project Type (EUR Million), 2012-2016
        • Table Belgian Commercial Construction Output by Project Type (EUR Million), 2016-2021
      • Commercial construction output by cost type
        • Table Belgian Commercial Construction Output by Cost Type (EUR Million), 2012-2016
        • Table Belgian Commercial Construction Output by Cost Type (EUR Million), 2016-2021
      • Commercial construction output by activity type
        • Table Belgian Commercial Construction Output by Activity Type (EUR Million), 2012-2016
        • Table Belgian Commercial Construction Output by Activity Type (EUR Million), 2016-2021
      • Commercial construction value add by project type
        • Table Belgian Commercial Construction Value Add by Project Type (EUR Million), 2012- 2016
        • Table Belgian Commercial Construction Value Add by Project Type (EUR Million), 2016- 2021
    • Industrial Construction
      • Industrial construction output by project type
        • Table Belgian Industrial Construction Output by Project Type (EUR Million), 2012-2016
        • Table Belgian Industrial Construction Output by Project Type (EUR Million), 2016-2021
      • Industrial construction output by cost type
        • Table Belgian Industrial Construction Output by Cost Type (EUR Million), 2012-2016
        • Table Belgian Industrial Construction Output by Cost Type (EUR Million), 2016-2021
      • Industrial construction output by activity type
        • Table Belgian Industrial Construction Output by Activity Type (EUR Million), 2012-2016
        • Table Belgian Industrial Construction Output by Activity Type (EUR Million), 2016-2021
      • Industrial construction value add by project type
        • Table Belgian Industrial Construction Value Add by Project Type (EUR Million), 2012-2016
        • Table Belgian Industrial Construction Value Add by Project Type (EUR Million), 2016-2021
    • Infrastructure Construction
      • Infrastructure construction output by project type
        • Table Belgian Infrastructure Construction Output by Project Type (EUR Million), 2012-2016
        • Table Belgian Infrastructure Construction Output by Project Type (EUR Million), 2016-2021
      • Infrastructure construction output by cost type
        • Table Belgian Infrastructure Construction Output by Cost Type (EUR Million), 2012-2016
        • Table Belgian Infrastructure Construction Output by Cost Type (EUR Million), 2016-2021
      • Infrastructure construction output by activity type
        • Table Belgian Infrastructure Construction Output by Activity Type (EUR Million), 2012-2016
        • Table Belgian Infrastructure Construction Output by Activity Type (EUR Million), 2016-2021
      • Infrastructure construction value add by project type
        • Table Belgian Infrastructure Construction Value Add by Project Type (EUR Million), 2012-2016
        • Table Belgian Infrastructure Construction Value Add by Project Type (EUR Million), 2016-2021
    • Energy and Utilities Construction
      • Energy and utilities construction output by project type
        • Table Belgian Energy and Utilities Construction Output by Project Type (EUR Million),2012-2016
        • Table Belgian Energy and Utilities Construction Output by Project Type (EUR Million), 2016-2021
      • Energy and utilities construction output by cost type
        • Table Belgian Energy and Utilities Construction Output by Cost Type (EUR Million), 2012- 2016
        • Table Belgian Energy and Utilities Construction Output by Cost Type (EUR Million), 2016-2021
      • Energy and utilities construction output by activity type
        • Table Belgian Energy and Utilities Construction Output by Activity Type (EUR Million),2012-2016
        • Table Belgian Energy and Utilities Construction Output by Activity Type (EUR Million), 2016-2021
      • Energy and utilities construction value add by project type
        • Table Belgian Energy and Utilities Construction Value Add by Project Type (EUR Million), 2012-2016
        • Table Belgian Energy and Utilities Construction Value Add by Project Type (EUR Million), 2016-2021
    • Institutional Construction
      • Institutional construction output by project type
        • Table Belgian Institutional Construction Output by Project Type (EUR Million), 2012-2016
        • Table Belgian Institutional Construction Output by Project Type (EUR Million), 2016-2021
      • Institutional construction output by cost type
        • Table Belgian Institutional Construction Output by Cost Type (EUR Million), 2012-2016
        • Table Belgian Institutional Construction Output by Cost Type (EUR Million), 2016-2021
      • Institutional construction output by activity type
        • Table Belgian Institutional Construction Output by Activity Type (EUR Million), 2012-2016
        • Table Belgian Institutional Construction Output by Activity Type (EUR Million), 2016-2021
      • Institutional construction value add by project type
        • Table Belgian Institutional Construction Value Add by Project Type (EUR Million), 2012-2016
        • Table Belgian Institutional Construction Value Add by Project Type (EUR Million), 2016-2021
    • Residential Construction
      • Residential construction output by project type
        • Table Belgian Residential Construction Output by Project Type (EUR Million), 2012-2016
        • Table Belgian Residential Construction Output by Project Type (EUR Million), 2016-2021
      • Residential construction output by cost type
        • Table Belgian Residential Construction Output by Cost Type (EUR Million), 2012-2016
        • Table Belgian Residential Construction Output by Cost Type (EUR Million), 2016-2021
      • Residential construction output by activity type
        • Table Belgian Residential Construction Output by Activity Type (EUR Million), 2012-2016
        • Table Belgian Residential Construction Output by Activity Type (EUR Million), 2016-2021
      • Residential construction value add by project type
        • Table Belgian Residential Construction Value Add by Project Type (EUR Million), 2012-2016
        • Table Belgian Residential Construction Value Add by Project Type (EUR Million), 2016-2021
  • Company Profile: BESIX Group SA
    • BESIX Group SA - Company Overview
      • Table BESIX Group SA, Key Facts
    • BESIX Group SA - Business Description
    • BESIX Group SA - Main Services
      • Table BESIX Group SA, Main Services
    • BESIX Group SA - History
      • Table BESIX Group SA, History
    • BESIX Group SA - Company Information
      • BESIX Group SA - key competitors
      • BESIX Group SA - key employees
        • Table BESIX Group SA, Key Employees
  • Company Profile: Compagnie d'Entreprises CFE SA
    • Compagnie d'Entreprises CFE SA - Company Overview
      • Table Compagnie d'Entreprises CFE SA, Key Facts
    • Compagnie d'Entreprises CFE SA - Business Description
    • Compagnie d'Entreprises CFE SA - Main Services
      • Table Compagnie d'Entreprises CFE SA, Main Services
    • Compagnie d'Entreprises CFE SA - History
      • Table Compagnie d'Entreprises CFE SA, History
    • Compagnie d'Entreprises CFE SA - Company Information
      • Compagnie d'Entreprises CFE SA - key competitors
      • Compagnie d'Entreprises CFE SA - key employees
        • Table Compagnie d'Entreprises CFE SA, Key Employees
  • Company Profile: Ackermans & Van Haaren NV
    • Ackermans & Van Haaren NV - Company Overview
      • Table Ackermans & Van Haaren NV, Key Facts
    • Ackermans & Van Haaren NV - Business Description
    • Ackermans & Van Haaren NV - Main Services
      • Table Ackermans & Van Haaren NV, Main Services
    • Ackermans & Van Haaren NV - History
      • Table Ackermans & Van Haaren NV, History
    • Ackermans & Van Haaren NV - Company Information
      • Ackermans & Van Haaren NV - key competitors
      • Ackermans & Van Haaren NV - key employees
        • Table Ackermans & Van Haaren NV, Key Employees
  • Company Profile: De Smet Engineers & Contractors SA
    • De Smet Engineers & Contractors SA - Company Overview
      • Table De Smet Engineers & Contractors SA, Key Facts
    • De Smet Engineers & Contractors SA - Main Services
      • Table De Smet Engineers & Contractors SA, Main Services
    • De Smet Engineers & Contractors SA - History
      • Table De Smet Engineers & Contractors SA, History
    • De Smet Engineers & Contractors SA - Company Information
      • De Smet Engineers & Contractors SA - key competitors
      • De Smet Engineers & Contractors SA - key employees
        • Table De Smet Engineers & Contractors SA, Key Employees
  • Company Profile: Algemene Aannemingen Van Laere NV
    • Algemene Aannemingen Van Laere NV - Company Overview
      • Table Algemene Aannemingen Van Laere NV, Key Facts
    • Algemene Aannemingen Van Laere NV - Main Services
      • Table Algemene Aannemingen Van Laere NV, Main Services
    • Algemene Aannemingen Van Laere NV - History
      • Table Algemene Aannemingen Van Laere NV, History
    • Algemene Aannemingen Van Laere NV - Company Information
      • Algemene Aannemingen Van Laere NV - key competitors
      • Algemene Aannemingen Van Laere NV - key employees
        • Table Algemene Aannemingen Van Laere NV, Key Employees
  • Appendix
    • What is this Report About?
    • Definitions
      • Table Timetric Construction Market Definitions
    • Methodology
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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