New Market Report: Construction in Germany - Key Trends and Opportunities to 2018

From: Fast Market Research, Inc.
Published: Fri Oct 31 2014

The German construction industry recorded a nominal CAGR of 4.22% during the review period (2009-2013). This was supported by investments in the country's infrastructure, commercial and residential construction projects. The nation's construction outlook is favorable due to the government's focus on infrastructure and residential construction. According to the Federal Statistical Office (Destatis), the seasonally and calendar adjusted average volume index of orders received in the construction industry increased by 1.6%, from 108.7 in the first-half of 2013 to 110.5 during the first-half of 2014. Strong economic conditions, a favorable labor market and a positive tourism image will fuel investments in the retail and tourism sectors. The industry's output is expected to record a compound annual growth rate (CAGR) of 4.31% in nominal prices over the forecast period (2014-2018).

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Report Highlights

* Germany's total construction value add was EUR115.8 billion (US$153.5 billion) in 2013, representative of a review-period CAGR of 4.51%. The value add is anticipated to reach EUR139.9 billion (US$197.1 billion) in 2018, and record a forecast-period CAGR of 3.87%, driven by increases in residential and infrastructure construction activities. Factors such as low interest rates, a relatively strong economic performance compared with other European countries, and rising employment rates will increase the demand for construction. According to Destatis, the total number of dwelling permits increased from 124,876 in the first-half of 2013 to 136,843 in the first-half of 2014, whereas building construction permits increased from 102,157 to 103,088 during the same period. Therefore, the outlook for construction industry is assessed as moderate over the forecast period.
* Germany is one of the most popular tourist destinations in the world. According to the United Nations World Tourism Organization (UNWTO), the country is among the 10 leading tourist destinations in the world in terms of international tourist arrivals and international receipts in 2013. According to Destatis, the number of tourist arrivals increased from 152,738 in 2012 to 155,191 in 2013, while overnight stays increased from 407,260 in 2012 to 411,779 in 2013. Compared with 2012, the number of overnight stays by domestic tourists remained unchanged, at 339.9 million, while the number of overnight stays by international tourists registered an increase of 5.0%, to reach 71.9 million in 2013. The country's positive tourism image and its strong economy offer potential for development in the travel and tourism sector, which is likely to support growth in the leisure and hospitality category over the forecast period.

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