Construction in Italy – Key Trends and Opportunities to 2025 (Q2 2021)

The construction industry in Italy is expected to rebound in 2021 and grow by 8.1% in real terms – following a decline of 6.3% in 2020. Although the country was placed under a strict lockdown in the first quarter of 2021, the industry was exempted from the measures, allowing for construction activities to continue. This was reflected in the quarterly construction value-add data, which showed a year-on-year (Y-o-Y) expansion of 16% in Q1 2021.

GlobalData expects the Italian construction industry to rebound strongly, following a difficult 2020 for the industry. However, a downside risk to the industry’s outlook arises from the recent price pressures in the Eurozone, driven by shortages in raw materials. Rising national debt also poses a threat to government spending in the industry. Prior to the outbreak of the pandemic, Italy was the second-most indebted country in the Eurozone. The outbreak of the pandemic, coupled with the economic slowdown and the drastic increase in public spending on stimulus packages, has led the country’s debt-to-GDP ratio to rise from 134.6% in 2019 to 155.6% last year. The government is expected to receive a substantial windfall from the EU’s recovery fund, which will support the government’s plans to increase spending in infrastructure.

Over the remainder of the forecast period, the industry is expected to register annual average growth of 1.6% between 2022-2025, supported by investments in housing, healthcare, transport, energy, and tourism infrastructure projects. The government’s focus on reducing carbon emissions in the country, as well as support for renovating buildings to make them more energy efficient, will also support industry growth over the forecast period.

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

– The Italian 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 Italian 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 Italy. It provides –

– Historical (2016-2020) and forecast (2021-2025) valuations of the construction industry in Italy, 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

3.5 Risk Profile

4 Construction Outlook

4.1 All Construction

– Outlook

– Latest News and Developments

– Construction Projects Momentum Index

4.2 Commercial Construction

– Outlook

– Project Analytics

– Latest News and Developments

4.3 Industrial Construction

– Outlook

– Project Analytics

– Latest News and Developments

4.4 Infrastructure Construction

– Outlook

– Project Analytics

– Latest News and Developments

4.5 Energy and Utilities Construction

– Outlook

– Project Analytics

– Latest News and Developments

4.6 Institutional Construction

– Outlook

– Project Analytics

– Latest News and Developments

4.7 Residential Construction

– Outlook

– Project Analytics

– Latest News and Developments

5 Key Industry Participants

5.1.1 Contractors

5.2 Consultants

6 Construction Market Data

7 Appendix

7.1 What is this Report About?

7.2 Definitions

7.3 CRI Methodology

7.4 GlobalData Construction

Contact Us

List of Tables

List of Tables

Table 1: Construction Industry Key Data

Table 2: Italy, Key Economic Indicators

Table 3: Italy, Commercial Construction Output by Project Type (Real % Change), 2016-2025

Table 4: Italy, Top Commercial Construction Projects by Value

Table 5: Italy, Industrial Construction Output by Project Type (Real % Change), 2016-2025

Table 6: Italy, Top Industrial Construction Projects by Value

Table 7: Italy, Infrastructure Construction Output by Project Type (Real % Change), 2016-2025

Table 8: Italy, Top Infrastructure Construction Projects by Value

Table 9: Italy, Energy and Utilities Construction Output by Project Type (Real % Change), 2016-2025

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

Table 11: Italy, Institutional Construction Output by Project Type (Real % Change), 2016-2025

Table 12: Italy, Top Institutional Construction Projects by Value

Table 13: Italy, Residential Construction Output by Project Type (Real % Change), 2016-2025

Table 14: Italy, Top Residential Construction Projects by Value

Table 15: Italy, Key Contractors

Table 16: Italy, Key Consultants

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

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

Table 19: GlobalData Construction Market Definitions

Table 20: Risk Dimensions

Table 21: Ratings, Scores and Definitions

List of Figures

List of Figures

Figure 1: Western Europe, Construction Output (Real % Change), 2021

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

Figure 3: Italy, COVID-19 Confirmed Cases

Figure 4: Italy, Risk Summary

Figure 5: Italy, Risk Regional Comparison

Figure 6: Italy, Construction Output Value (Real, US$ Billion, 2017 Prices and Exchange Rate), 2016-2025

Figure 7: Italy, Construction Output Value, by Sector (Real, US$ Million), 2016-2025

Figure 8: Italy, Construction Value-Add (EUR Million, 2015 Chained Prices)

Figure 9: Italy, Gross Fixed Capital Formation in Construction (EUR, Million 2015 Chained Prices)

Figure 10: Italy, Construction Production Index (2015-100, Seasonally Adjusted)

Figure 11: Italy, Business Confidence in Construction Sector (2010=100)

Figure 12: Italy, Construction Projects Momentum Index

Figure 13: Western Europe, Construction Projects Momentum Index

Figure 14: Italy, Commercial Construction Output by Project Type (Real, US$ Million), 2016-2025

Figure 15: Italy, Commercial Construction Projects Pipeline, Value by Stage (US$ Million)

Figure 16: Italy, Wholesale and Retail Trade, Transportation and Storage, Accommodation and Food Service Activities Value-Add (EUR Million, 2015 Chained Prices)

Figure 17: Italy, Service Turnover Index (2015=100)

Figure 18: Italy, Foreign Tourist Arrivals, In Thousands

Figure 19: Italy, Retail Trade Sales Index (2015=100)

Figure 20: Italy, Industrial Construction Output by Project Type (Real, US$ Million), 2016-2025

Figure 21: Italy, Industrial Construction Projects Pipeline, Value by Stage (US$ Million)

Figure 22: Italy, Manufacturing Value-Add (EUR Million, 2015 Chained Prices)

Figure 23: Italy, Industrial and Manufacturing Production Indices, Seasonally Adjusted, 2015=100, % Change YoY

Figure 24: Italy, Exports (EUR Million, % Change)

Figure 25: Italy, Manufacturing Turnover Volume Index, Seasonally Adjusted (2015=100)

Figure 26: Italy, Infrastructure Construction Output by Project Type (Real, US$ Million), 2016-2025

Figure 27: Italy, Infrastructure Construction Projects Pipeline, Value by Stage (US$ Million)

Figure 28: Italy, Energy and Utilities Construction Output by Project Type (Real, US$ Million), 2016-2025

Figure 29: Italy, Energy and Utilities Construction Projects Pipeline, Value by Stage (US$ Million)

Figure 30: Italy, Institutional Construction Output by Project Type (Real, US$ Million), 2016-2025

Figure 31: Italy, Institutional Construction Projects Pipeline, Value by Stage (US$ Million)

Figure 32: Italy, Public Administration and Defense, Education, Human Health and Social Work Activities Value-Add (EUR Million, 2015 Chained Prices)

Figure 33: Italy, Residential Construction Output by Project Type (Real, US$ Million), 2016-2025

Figure 34: Italy, Residential Construction Projects Pipeline, Value by Stage (US$ Million)

Figure 35: Italy, Real Estate Value-Add (EUR Million, 2015 Chained Prices)

Figure 36: Italy, Headquarters of Key Contractors (% of Total Project Pipeline)

Figure 37: Italy, Headquarters of Key Consultants (% of Total Project Pipeline)

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