DUBLIN--(BUSINESS WIRE)--The "Ireland Construction Market Size, Trends and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026" report has been added to ResearchAndMarkets.com's offering.
Ireland's construction industry has suffered two years of disruption amid restrictions imposed on activity to contain Coronavirus (COVID-19) infections, posting annual contractions of 10.2% in 2020 and 4.6% in 2021.
Assuming that there are no further periods of disruption in 2022, the industry is expected to grow by 16.1% in real terms that year; although a sharp rebound is expected, this will only be sufficient to be bring construction output levels back to levels close to 2019. The implementation of projects under Nation Development Plan (NDP) 2021-2030 will provide support, but there are downside risks in the form of supply chain disruptions and high prices for construction materials and energy.
Growth in 2022 will be supported by investments in healthcare and housing initiatives under the 2022 Budget, which was announced in October 2021. The 2022 Budget comprises total gross expenditure of EUR82.8 billion ($100.7 billion), of which EUR71.7 billion ($87.2 billion) comprises current expenditure and EUR11.1 billion ($13.5 billion) is capital expenditure.
The government also announced a EUR6 billion ($7.3 billion) allocation for the Department of Housing, EUR2.5 billion ($3 billion) for the construction of 9,000 new social housing units and EUR174 million ($211.7 million) for the construction of 4,000 affordable homes, including low-cost rental and purchase.
Under the NDP 2021-2030, the government outlined plans to spend EUR35 billion ($39.9 billion) on transport infrastructure, including EUR12 billion ($13.7 billion) for public transport, EUR13 billion ($14.8 billion) on maintenance, EUR6 billion ($6.8 billion) on road infrastructure and EUR4 billion ($4.6 billion) on walking and cycling infrastructure.
Furthermore, the government set a plan to invest EUR16 billion ($19.5 billion) in energy projects and EUR7.2 billion ($8.8 billion)-EUR12.5 billion ($15.2 billion) in support to deliver 2.5GW of grid-scale solar, 8GW onshore wind and 5GW offshore wind under the Renewable Electricity Support Scheme (RESS). The publisher expects the construction industry to expand at an annual average rate of 4.6% between 2023 and 2026.
Scope
- 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
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 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
For more information about this report visit https://www.researchandmarkets.com/r/kbpxn1
