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Construction in Hungary - Key Trends and Opportunities to 2020

(HUNGARYNEWSWIRE.COM, November 12, 2016 ) Construction activity was weak in 2012, as the economy was hit by a recession. Consequently, limited business confidence adversely affected investments. The industry subsequently recovered, driven by an improvement in economic conditions and new investments in construction projects.

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Over the forecast period (2016-2020), the industry is expected to expand at a slow pace. Improvements in investor and consumer confidence will drive funds into infrastructure, energy and utilities, and commercial construction projects. Government initiatives such as the Integrated Transport Development Operational Program (ITOP), Environment and Energy Efficiency Operational Program (EEEOP), National Renewable Energy Action Plan (NREAP) and Family Housing Allowance Program (CSOK) will support industry growth

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Government efforts to improve transport infrastructure and develop regional connectivity will support the industry's growth over the forecast period. Plans to increase the nation's energy production are also expected to support funding in energy infrastructure projects.

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The industry's output value in real terms increased at a compound annual growth rate (CAGR) of 3.55% during the review period, and is expected to post a CAGR of 2.74% over the forecast period.

Report Summary

Publisher's Construction in Hungary - Key Trends and Opportunities to 2020 report provides detailed market analysis, information and insights into the Hungarian construction industry including:
- The Hungarian construction industry's growth prospects by market, project type and construction activity
- Analysis of equipment, material and service costs for each project type in Hungary
- Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in the Hungarian construction industry
- Profiles of the leading operators in the Hungarian construction industry
- Data highlights of the largest construction projects in Hungary

Report Scope

This report provides a comprehensive analysis of the construction industry in Hungary. It provides:
- Historical (2011-2015) and forecast (2016-2020) valuations of the construction industry in Hungary using construction output and value-add methods
- Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by project type
- 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)
- Analysis of key construction industry issues, including regulation, cost management, funding and pricing
- Detailed profiles of the leading construction companies in Hungary

Key Highlights

- Being a landlocked country, Hungary's location plays a vital role in improving the performance of its logistics industry. According to the Központi Statisztikai Hivatal (KSH), the total volume of goods transported within the country grew by 1.6% in 2015 compared to 2014. Roads accounted for 84.8% of the movement of goods in 2015, followed by railways, pipeline and water transport with 7.8%, 7.3% and 0.1%. The increased transportation of goods creates a need for efficient transport infrastructure, which will support growth in the country's road and rail infrastructure over the forecast period.
- In terms of buildings permits, there has been clear evidence of improvement in residential construction. According to the latest data from the KSH, new construction permits issued for residential buildings grew by 27.2% in 2015, increasing from 5,132 in 2014 to 6,526 in 2015. Moreover, the total floor area of new building permits grew by 27.1%, going from 1,082,916m2 in 2014 to 1,376,406m2 in 2015.
- To increase electricity generation capacity, the government is planning to construct two new nuclear reactors at the Paks Nuclear Power Plant. Accordingly, the government entered into an agreement with Rosatom, Russia's State Atomic Energy Corporation, in January 2014. According to the terms of the agreement, Russia will finance 80.0% of the project by providing a loan worth HUF3.1 trillion (US$13.3 billion), which is to be repaid over the next 21 years, following the operation of new reactors.
- According to the KSH, the number of foreign tourist arrivals rose by 17.6% during the first half of 2015, compared to the first half of 2014. Spending by foreign tourists increased by 12.3% over the same period. According to the Ministry for National Economy, the number of domestic tourist arrivals increased by 7.4% in 2015 compared to 2014.
- With the aim of providing improved access to affordable housing, the government introduced CSOK in July 2015. Under this program, financial assistance is offered to married couples with children to help them build or purchase a new house with a reduced rate of VAT. Specific to the CSOK, VAT rates were decreased from 27.0% in 2015 to 5.0% until 2019.

Reason to Buy

- Identify and evaluate market opportunities using Publisher'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 Publisher's critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.

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Priya Sisodia


Source: EmailWire.Com

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