Europe Construction Industry Report 2023: Challenges Amidst Economic Headwinds - Forecasts to 2027
Dublin, April 19, 2024 (GLOBE NEWSWIRE) -- The "Europe Construction Industry Databook Series - Market Size & Forecast by Value and Volume (area and units), Q2 2023 Update" report has been added to * ResearchAndMarkets.com's* offering.
In a recent comprehensive analysis of the European construction industry, critical data points towards a period of underperformance relative to global markets in the latter part of 2023 and the beginning of 2024.
The sector confronts an environment of heightened interest rates and rising construction costs that have notably pressured the market in the first half of 2023. High-profile liquidations in construction firms, particularly within the German market, underscore the immediate consequences of the prevailing economic conditions. An insightful examination reveals that this downtrend is anticipated to persist, influencing the industry from a short to medium-term vantage.
*Regional Market Insights*
Amidst the broader European sentiment, specific national markets are encountering their own unique challenges. In the context of France, construction companies have reported a diminishing demand, propelling a conservative approach towards their procurement activities. The French residential market, in particular, has seen a significant downturn in new projects and a decrease in new builds sales. Policy-led borrowing constraints and increasing cost pressures are key components fueling this trend.
The United Kingdom’s sector is experiencing vulnerability, with the insolvency of a substantial number of construction businesses catalyzed by escalating costs and delays in notable government infrastructure projects. These factors are indicative of a broader trend that is anticipated to continue in the near future.
*Governmental Response and Intervention*
It is within this challenging landscape that the German government has announced targeted relief efforts designed to stabilize and invigorate the construction industry. A major relief package proposed by the authorities aims at bolstering the market, prioritizing affordable housing and streamlining the conversion of under-utilized office and commercial spaces into residential units to combat the housing deficit.
*Comprehensive Industry Data and Outlook*
The industry-wide analysis details market size and forecasts across various construction segments, offering an expansive overview that includes residential, commercial, industrial, institutional, and infrastructure construction sectors. It highlights the market from both value and volume perspectives, integrating macroeconomic indicators and consumer trends to provide a holistic view of the potential opportunities and risks within the industry.
City-level analyses supplement the report, giving a granular view of the construction landscape in key urban areas. This extensive data compilation is poised to facilitate strategic planning and decision-making by stakeholders within the construction domain. By understanding these comprehensive insights, industry participants can adeptly align strategies to the evolving market conditions.
The report underlines the necessity for strategic foresight in the face of the current economic climate, urging industry players to navigate the construction industry with a nuanced understanding of both market-specific challenges and broader regional trends.
For more information about this report visit https://www.researchandmarkets.com/r/ihbhzc
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