Construction in Germany – Key Trends and Opportunities to 2024 (August 2020)

The German construction industry expanded by 3.6% in real terms in 2019, driven by public and private sector investments in both building and civil engineering works. Even before the Coronavirus (COVID-19) outbreak, the country’s construction industry remained strong, with the residential sector supporting the industry with an increase in building permits by 1.8% in 2019, and the government’s efforts to ease the housing shortage.

Germany’s economy has been heavily disrupted due to the outbreak of the virus and the subsequent imposition of containment measures. However, although several sectors of the economy were ordered to shut down as a result of the lockdown measures, the construction sector was not. In March 2020, the German government announced that infrastructure, residential and utilities construction were exempted from the lockdown measures, with construction allowed to continue through the COVID-19 crisis.

According to Eurostat, construction output grew by 4% in the first three months of 2020 (the latest data available at the time of writing) compared to same period of 2019; this was preceded by annual growths of 3.6% in 2019 and 3.4% in 2018. In the coming quarters, the construction industry’s output growth is expected to pick up, driven by the government’s focus on the development of the country’s transport and energy infrastructure.

GlobalData forecasts that the construction industry will contract by 4.4% in 2020, although it is forecasted to grow at an annual average rate of 2.4% between 2021-2024. This growth will be supported by the government’s focus on improving regional connectivity through the development of the country’s rail and road transport infrastructure, coupled with efforts to boost energy production. The construction of the Fehmarn belt underwater tunnel between Germany and Denmark, which is worth EUR7 billion (US$7.8 billion), would help boost the country’s growth over the coming years. Under the National Energy and Climate Plan (NECP), which is been approved in June, the country would improve its renewable energy share by 2030, thereby supporting the economy and construction industry

This report provides detailed market analysis, information and insights into the German construction industry, including –

– The German construction industry's growth prospects by market, project type and construction activity

– Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in the German construction industry

– Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline

Scope

This report provides a comprehensive analysis of the construction industry in Germany. It provides –

– Historical (2015-2019) and forecast (2020-2024) valuations of the construction industry in Germany, 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 GlobalData'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 GlobalData's critical and actionable insight.

– Assess business risks, including cost, regulatory and competitive pressures.

– Evaluate competitive risk and success factors.

Table of Contents

Table of Contents

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

4 Construction Outlook

4.1. All Construction

4.1.1. Outlook

4.1.2. Latest news and developments

4.1.3. Construction Projects Momentum Index

4.2. Commercial Construction

4.2.1. Outlook

4.2.2. Project analytics

4.2.3. Latest news and developments

4.3. Industrial Construction

4.3.1. Outlook

4.3.2. Project analytics

4.3.3. Latest news and developments

4.4. Infrastructure Construction

4.4.1. Outlook

4.4.2. Project analytics

4.4.3. Latest news and developments

4.5. Energy and Utilities Construction

4.5.1. Outlook

4.5.2. Project analytics

4.5.3. Latest news and developments

4.6. Institutional Construction

4.6.1. Outlook

4.6.2. Project analytics

4.6.3. Latest news and developments

4.7. Residential Construction

4.7.1. Outlook

4.7.2. Project analytics

4.7.3. Latest news and developments

5 Key Industry Participants

5.1. Contractors

5.2. Consultants

6 Construction Market Data

7 Appendix

7.1. What is this Report About?

7.2. Definitions

8 About GlobalData

8.1. GlobalData Construction

8.2. Disclaimer

8.3. Contact Us

List of Tables

List of Tables

Table 1: Construction Industry Key Data

Table 2: Germany, Key Economic Indicators

Table 3: Germany, Commercial Construction Output by Project Type (Real % Change), 2015-2024

Table 4: Germany, Top Commercial Construction Projects by Value

Table 5: Germany, Industrial Construction Output by Project Type (Real % Change), 2015-2024

Table 6: Germany, Top Industrial Construction Projects by Value

Table 7: Germany, Infrastructure Construction Output by Project Type (Real % Change), 2015-2024

Table 8: Germany, Top Infrastructure Construction Projects by Value

Table 9: Germany, Energy and Utilities Construction Output by Project Type (Real % Change), 2015-2024

Table 10: Germany, Top Energy and Utilities Construction Projects by Value

Table 11: Germany, Institutional Construction Output by Project Type (Real % Change), 2015-2024

Table 12: Germany, Top Institutional Construction Projects by Value

Table 13: Germany, Residential Construction Output by Project Type (Real % Change), 2015-2024

Table 14: Germany, Top Residential and Mixed-Use Construction Projects by Value

Table 15: Germany, Key Contractors

Table 16: Germany, Key Consultants

Table 17: Germany, Construction Output Value (Real, US$ Million)

Table 18: Germany, Construction Output Value (Nominal, EUR Million)

Table 19: GlobalData Construction Market Definitions

List of Figures

List of Figures

Figure 1: Germany, Construction Output (Real % Change), 2020

Figure 2: Germany, Construction Projects Pipeline by Sector (US$ Billion)

Figure 3: Germany, COVID-19 Confirmed Cases

Figure 4: Germany, Construction Output Value (Real, US$ Billion, 2017 Prices and Exchange Rate), 2015-2024

Figure 5: Germany, Construction Output Value, by Sector (Real, US$ Million), 2015-2024

Figure 6: Germany, Construction Value-Add (EUR Million, 2015 Chained Prices)

Figure 7: Germany, Gross Fixed Capital Formation (EUR Billion, at 2015 Base Prices)

Figure 8: Germany, Building and Civil Engineering Construction Value Index (2015=100)

Figure 9: Germany, Construction Projects Momentum Index

Figure 10: Germany, Commercial Construction Output by Project Type (Real, US$ Million), 2015-2024

Figure 11: Germany, Commercial Construction Projects Pipeline, Value by Stage (US$ Million)

Figure 12: Germany, Total Tourist Arrivals (In Thousands)

Figure 13: Germany, Retail Trade Turnover Index (2015=100)

Figure 14: Germany, Wholesale Turnover Index (2015=100)

Figure 15: Germany, Commercial Construction Orders Value Index (2015=100)

Figure 16: Germany, Office and Administrative Buildings Permits

Figure 17: Germany, Industrial Construction Output by Project Type (Real, US$ Million), 2015-2024

Figure 18: Germany, Industrial Construction Projects Pipeline, Value by Stage (US$ Million)

Figure 19: Germany, Manufacturing Turnover Index (2015=100)

Figure 20: Germany, Total Merchandise Export (EUR Million)

Figure 21: Germany, Infrastructure Construction Output by Project Type (Real, US$ Million), 2015-2024

Figure 22: Germany, Infrastructure Construction Projects Pipeline, Value by Stage (US$ Million)

Figure 23: Germany, Road Construction New Orders – Value and Volume Index (2015=100)

Figure 24: Germany, Energy and Utilities Construction Output by Project Type (Real, US$ Million), 2015-2024

Figure 25: Germany, Energy and Utilities Construction Projects Pipeline, Value by Stage (US$ Million)

Figure 26: Germany, Institutional Construction Output by Project Type (Real, US$ Million), 2015-2024

Figure 27: Germany, Institutional Construction Projects Pipeline, Value by Stage (US$ Million)

Figure 28: Germany, Industrial Buildings Permits

Figure 29: Germany, Residential Construction Output by Project Type (Real, US$ Million), 2015-2024

Figure 30: Germany, Residential Construction Projects Pipeline, Value by Stage (US$ Million)

Figure 31: Germany, Residential Buildings Permits

Figure 32: Germany, Headquarters of Key Contractors (% of Total Project Pipeline)

Figure 33: Germany, Headquarters of Key Consultants (% of Total Project Pipeline)

Figure 34: GlobalData at a Glance

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