Slovakia Construction Industry Report 2024: Market to Shrink 1.9% in Real-terms in 2024 - Project Analytics and Forecasts to 2028
DUBLIN, March 28, 2024 /PRNewswire/ -- The "Slovakia Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2024-2028" report has been added to ResearchAndMarkets.com's offering.
The construction industry in Slovakia is expected to shrink by 1.9% in real terms in 2024, owing to weak investor and consumer confidence amid rising interest rates, energy prices, construction materials prices, and a fall in the number of building permits.
According to Slovak Republic (SOS), the total number of new building permits in the country declined by 21% year on year (YoY) in the first three quarters of 2023, compared by an annual decline of 6% in 2022. In addition, according to Eurostat, the construction producer cost index for new residential buildings rose by 12.6% YoY in the first nine months of 2023, following an annual increase of 21.7% in 2022.
The industry's output is expected to rebound at an average annual growth rate of 3.8% from 2025 to 2028, supported by investments in infrastructure, energy, and industrial sector, which is backed by the European Union (EU) recovery funds. In July 2023, the European Commission approved the country's modified Recovery and Resilience Facility (RRF) worth EUR6.4 billion ($6.5 billion) in grants, compared with the previous plan of EUR6 billion ($6.1 billion) grant in 2022. According to the modified plan, the total amount allocated to the renewable energy sector increased from 42% in June 2021 to 46% in July 2023.
The plan also includes an allocation of EUR930 million ($952.3 million) for the modernization of the hospital, EUR759.3 million ($777.5 million) for the modernization of railways, 162 km of new cycling infrastructure and the installation of 3,000 charging stations. EUR575.2 million ($589 million) is set for research and development, EUR446.5 million ($457.2 million) for renovating 25,164 family houses, EUR368 million ($376.8 million) for decarbonization, and EUR141 million ($144.4 million) for improving pre-schools.
Scope
- Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in Slovakia, 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
Reasons to Buy
- Identify and evaluate market opportunities using the 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 the critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
Key Topics Covered:
1 Executive Summary
2 Construction Industry: At-a-Glance
3 Latest news and developments
4 Project analytics
5 Construction Market Data
6 Risk Profile
7 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/wlpai3
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
SOURCE Research and Markets
News published on and distributed by:
