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Construction in Croatia – Key Trends and Opportunities to 2021

Construction in Croatia – Key Trends and Opportunities to 2021

Synopsis

Following a period of negative growth during 2012–2014 owing to the economic recession, the Croatian construction industry recovered in 2015. This recovery continued in 2016 backed by a gradual improvement in economic conditions. Consequently, resurgence in investor confidence accelerated the pace of investment in construction projects in the country.

Over the forecast period (2017–2021), the industry is expected to continue to expand, supported by government efforts to promote economic growth through increased investment in public infrastructure and residential construction projects.

The government’s aim to achieve self-sufficiency in energy production is expected to support the industry’s expansion over the forecast period. Additionally, the country’s strong export trade activity is expected to offer a positive outlook for the industry in the years to come. The industry’s output value in real terms is expected to register a compound annual growth rate (CAGR) of 2.32% over the forecast period, up from -1.39% during the review period (2012–2016).

Summary

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

  • The Croatian 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 Croatian construction industry
  • Profiles of the leading operators in the Croatian construction industry
Scope

This report provides a comprehensive analysis of the construction industry in Croatia. It provides:
  • Historical (2012-2016) and forecast (2017-2021) valuations of the construction industry in Croatia 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 Croatia
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
  • The European Union (EU) has been playing a vital role in promoting economic growth by financing infrastructure projects in the country. With the aim of improving regional connectivity between Križevci and Dugo Selo, the EU, in August 2017, announced plans to invest HRK1.2 billion (US$172.2 million) to develop railway lines between these regions.
  • Positive developments in the country’s housing sector are expected to support the expansion of the residential construction market over the forecast period. The government is planning to subsidize 50.0% of housing loan installments of first-time buyers for a minimum period of four years. This is expected to accelerate the demand for new housing units over the forecast period. According to Timetric, the residential construction market is expected to record a nominal forecast-period CAGR of 3.68%, as compared to 2.08% registered during the review period.
  • Government focus on reducing dependency on energy imports is expected to drive funds towards new energy infrastructure projects over the forecast period. For example, to meet rising demand for energy in Osijek region, in July 2016 the Croatian Energy Regulatory Agency announced plans to construct a new heat and power-generation plant with a capacity to generate 500MW of energy. With an estimated investment of HRK4.2 billion (US$619.0 million), the project includes the construction of a powerhouse, substation, transformers, turbines, generators, transmission lines and other related infrastructure.
  • Croatia’s prosperous tourism sector is expected to support the expansion of leisure and hospitality buildings category over the forecast period. In February 2016, the Ministry of Tourism announced plans to invest HRK18.4 billion (US$2.7 billion) until 2020 to construct new hotels in the country, with a capacity of 20,000 rooms.
  • On the back of a growing number of tourists visiting the country, the government is focusing on expanding the country’s airports. In August 2016, the government announced plans to construct a new terminal at Split Airport with an investment of HRK485.3 million (US$71.3 million). On successful completion in 2019, the airport is expected to handle 3.5 million passengers per annum.


  • 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 Croatian Construction Output by Project Type (HRK Million), 2012-2016
        • Table Croatian Construction Output by Project Type (HRK Million), 2016-2021
      • Construction output by cost type
        • Table Croatian Construction Output by Cost Type (HRK Million), 2012-2016
        • Table Croatian Construction Output by Cost Type (HRK Million), 2016-2021
      • Construction output by activity type
        • Table Croatian Construction Output by Activity Type (HRK Million), 2012-2016
        • Table Croatian Construction Output by Activity Type (HRK Million), 2016-2021
      • Construction value add by project type
        • Table Croatian Construction Value Add by Project Type (HRK Million), 2012-2016
        • Table Croatian Construction Value Add by Project Type (HRK Million), 2016-2021
    • Commercial Construction
      • Commercial construction output by project type
        • Table Croatian Commercial Construction Output by Project Type (HRK Million), 2012-2016
        • Table Croatian Commercial Construction Output by Project Type (HRK Million), 2016-2021
      • Commercial construction output by cost type
        • Table Croatian Commercial Construction Output by Cost Type (HRK Million), 2012-2016
        • Table Croatian Commercial Construction Output by Cost Type (HRK Million), 2016-2021
      • Commercial construction output by activity type
        • Table Croatian Commercial Construction Output by Activity Type (HRK Million), 2012-2016
        • Table Croatian Commercial Construction Output by Activity Type (HRK Million), 2016-2021
      • Commercial construction value add by project type
        • Table Croatian Commercial Construction Value Add by Project Type (HRK Million), 2012-2016
        • Table Croatian Commercial Construction Value Add by Project Type (HRK Million), 2016-2021
    • Industrial Construction
      • Industrial construction output by project type
        • Table Croatian Industrial Construction Output by Project Type (HRK Million), 2012-2016
        • Table Croatian Industrial Construction Output by Project Type (HRK Million), 2016-2021
      • Industrial construction output by cost type
        • Table Croatian Industrial Construction Output by Cost Type (HRK Million), 2012-2016
        • Table Croatian Industrial Construction Output by Cost Type (HRK Million), 2016-2021
      • Industrial construction output by activity type
        • Table Croatian Industrial Construction Output by Activity Type (HRK Million), 2012-2016
        • Table Croatian Industrial Construction Output by Activity Type (HRK Million), 2016-2021
      • Industrial construction value add by project type
        • Table Croatian Industrial Construction Value Add by Project Type (HRK Million), 2012-2016
        • Table Croatian Industrial Construction Value Add by Project Type (HRK Million), 2016-2021
    • Infrastructure Construction
      • Infrastructure construction output by project type
        • Table Croatian Infrastructure Construction Output by Project Type (HRK Million), 2012-2016
        • Table Croatian Infrastructure Construction Output by Project Type (HRK Million), 2016-2021
      • Infrastructure construction output by cost type
        • Table Croatian Infrastructure Construction Output by Cost Type (HRK Million), 2012-2016
        • Table Croatian Infrastructure Construction Output by Cost Type (HRK Million), 2016-2021
      • Infrastructure construction output by activity type
        • Table Croatian Infrastructure Construction Output by Activity Type (HRK Million), 2012-2016
        • Table Croatian Infrastructure Construction Output by Activity Type (HRK Million), 2016-2021
      • Infrastructure construction value add by project type
        • Table Croatian Infrastructure Construction Value Add by Project Type (HRK Million), 2012-2016
        • Table Croatian Infrastructure Construction Value Add by Project Type (HRK Million),2016-2021
    • Energy and Utilities Construction
      • Energy and utilities construction output by project type
        • Table Croatian Energy and Utilities Construction Output by Project Type (HRK Million),2012-2016
        • Table Croatian Energy and Utilities Construction Output by Project Type (HRK Million),2016-2021
      • Energy and utilities construction output by cost type
        • Table Croatian Energy and Utilities Construction Output by Cost Type (HRK Million),2012-2016
        • Table Croatian Energy and Utilities Construction Output by Cost Type (HRK Million), 2016-2021
      • Energy and utilities construction output by activity type
        • Table Croatian Energy and Utilities Construction Output by Activity Type (HRK Million), 2012-2016
        • Table Croatian Energy and Utilities Construction Output by Activity Type (HRK Million), 2016-2021
      • Energy and utilities construction value add by project type
        • Table Croatian Energy and Utilities Construction Value Add by Project Type (HRK Million), 2012-2016
        • Table Croatian Energy and Utilities Construction Value Add by Project Type (HRK Million), 2016-2021
    • Institutional Construction
      • Institutional construction output by project type
        • Table Croatian Institutional Construction Output by Project Type (HRK Million), 2012- 2016
        • Table Croatian Institutional Construction Output by Project Type (HRK Million), 2016- 2021
      • Institutional construction output by cost type
        • Table Croatian Institutional Construction Output by Cost Type (HRK Million), 2012-2016
        • Table Croatian Institutional Construction Output by Cost Type (HRK Million), 2016-2021
      • Institutional construction output by activity type
        • Table Croatian Institutional Construction Output by Activity Type (HRK Million), 2012- 2016
        • Table Croatian Institutional Construction Output by Activity Type (HRK Million), 2016- 2021
      • Institutional construction value add by project type
        • Table Croatian Institutional Construction Value Add by Project Type (HRK Million), 2012- 2016
        • Table Croatian Institutional Construction Value Add by Project Type (HRK Million), 2016- 2021
    • Residential Construction
      • Residential construction output by project type
        • Table Croatian Residential Construction Output by Project Type (HRK Million), 2012-2016
        • Table Croatian Residential Construction Output by Project Type (HRK Million), 2016-2021
      • Residential construction output by cost type
        • Table Croatian Residential Construction Output by Cost Type (HRK Million), 2012-2016
        • Table Croatian Residential Construction Output by Cost Type (HRK Million), 2016-2021
      • Residential construction output by activity type
        • Table Croatian Residential Construction Output by Activity Type (HRK Million), 2012-2016
        • Table Croatian Residential Construction Output by Activity Type (HRK Million), 2016-2021
      • Residential construction value add by project type
        • Table Croatian Residential Construction Value Add by Project Type (HRK Million), 2012-2016
        • Table Croatian Residential Construction Value Add by Project Type (HRK Million), 2016-2021
  • Company Profile: Graditeljsko Dionicko Drustvo Viadukt
    • Graditeljsko Dionicko Drustvo Viadukt - Company Overview
      • Table Graditeljsko Dionicko Drustvo Viadukt, Key Facts
    • Graditeljsko Dionicko Drustvo Viadukt - Main Products and Services
      • Table Graditeljsko Dionicko Drustvo Viadukt, Main Products and Services
    • Graditeljsko Dionicko Drustvo Viadukt - History
      • Table Graditeljsko Dionicko Drustvo Viadukt, History
    • Graditeljsko Dionicko Drustvo Viadukt - Company Information
      • Graditeljsko Dionicko Drustvo Viadukt - key competitors
      • Graditeljsko Dionicko Drustvo Viadukt - key employees
        • Table Graditeljsko Dionicko Drustvo Viadukt, Key Employees
  • Company Profile: Hidroelektra Niskogradnja dd
    • Hidroelektra Niskogradnja dd - Company Overview
      • Table Hidroelektra Niskogradnja dd, Key Facts
    • Hidroelektra Niskogradnja dd - Main Products and Services
      • Table Hidroelektra Niskogradnja dd, Main Products and Services
    • Hidroelektra Niskogradnja dd - History
      • Table Hidroelektra Niskogradnja dd, History
    • Hidroelektra Niskogradnja dd - Company Information
      • Hidroelektra Niskogradnja dd - key competitors
      • Hidroelektra Niskogradnja dd - key employees
        • Table Hidroelektra Niskogradnja dd, Key Employees
  • Company Profile: Ingra dd
    • Ingra dd - Company Overview
      • Table Ingra dd, Key Facts
    • Ingra dd - Main Services
      • Table Ingra dd, Main Services
    • Ingra dd - History
      • Table Ingra dd, History
    • Ingra dd - Company Information
      • Ingra dd - key competitors
      • Ingra dd - key employees
        • Table Ingra dd, Key Employees
  • Company Profile: Elektroprojekt dd
    • Elektroprojekt dd - Company Overview
      • Table Elektroprojekt dd, Key Facts
    • Elektroprojekt dd - Main Services
      • Table Elektroprojekt dd, Main Services
    • Elektroprojekt dd - History
      • Table Elektroprojekt dd, History
    • Elektroprojekt dd - Company Information
      • Elektroprojekt dd - key competitors
      • Elektroprojekt dd - key employees
        • Table Elektroprojekt dd, Key Employees
  • Company Profile: Dalekovod dd
    • Dalekovod dd - Company Overview
      • Table Dalekovod dd, Key Facts
    • Dalekovod dd - Business Description
    • Dalekovod dd - Main Products and Services
      • Table Dalekovod dd, Main Products and Services
    • Dalekovod dd - History
      • Table Dalekovod dd, History
    • Dalekovod dd - Company Information
      • Dalekovod dd - key competitors
      • Dalekovod dd - key employees
        • Table Dalekovod dd, 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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