Construction in Italy – Key Trends and Opportunities to 2023

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Construction in Italy – Key Trends and Opportunities to 2023

Summary

Growth in the Italian construction industry picked up slightly in 2018, with output expanding by 1.7% in real terms that year, improving from 0.7% in 2017 and 0.4% in 2016. This outcome was driven mainly by the government’s investment in transport and energy infrastructure projects, coupled with private investment in the services sector.

Investment in housing, transport, energy and tourism infrastructure projects is expected to support the industry output over the forecast period (2019-2023). In March 2019, the government signed an agreement with the Chinese government worth EUR2.5 billion (US$2.8 billion) for a range of projects as part of a new “Silk Road” in the country. However, the high budget deficit, unemployment rate and sluggish economic growth are expected to constrain the industry’s growth over the forecast period.

The industry’s output value in real terms is expected to record a compound annual growth rate (CAGR) of 1.73% over the forecast period – up from 0.47% during the review period (2014-2018).

Construction in Italy – Key Trends and Opportunities to 2023 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.

Key Highlights

– This research expects the residential construction market to retain its leading position over the forecast period and account for 57.8% share of the industry’s total value in 2023, driven by low housing loan interest rate and the government’s effort to provide affordable houses to the citizens. In the 2019 budget, the government announced plans to provide individual loans of up to EUR200,000 (US$235,737) to low- and middle-income families for a zero-interest rate to construct their first home.
– To support economic development and growth, the government is focusing on development of a broadband network across the country, through which the government aims to create investment opportunities and ensure social and economic inclusion. The government plans to spend EUR11 billion (US$12.4 billion) to deploy an ultra-fast broadband network across the country to meet the EU’s target to provide internet access to all households by 2020.
– This research expects the energy and utilities construction market to post a forecast-period CAGR of 4.21% in nominal terms, supported by the government’s aims to generate 30% of the total energy consumption from renewable sources by 2030. Accordingly, the government plans to generate 50GW of power from solar photovoltaic (PV), 18.4GW from wind energy, 3.8GW from bioenergy and 950MW from geothermal. Moreover, in January 2019, the government issued the new National Integrated Plan for Climate and Energy 2030, under which it announced plans to increase the solar energy target from 72TWh to 74TWh by 2030.
– Forecast-period growth in the infrastructure construction market will be driven by the government’s focus on the development, modernization and maintenance of transport infrastructure. In March 2019, the government signed an agreement with China’s government worth EUR2.5 billion (US$2.8 billion) under the country’s Belt and Road Initiative. In June 2018, the government announced plans to spend EUR1.6 billion (US$1.9 billion) on the maintenance of transport infrastructure within metropolitan and provincial areas across the country during 2018-2023.
– The total construction project pipeline in Italy – as tracked, and including all mega projects with a value above US$25 million – stands at EUR152.5 billion (US$179.7 billion). The pipeline, which includes all projects from pre-planning to execution, is skewed towards late-stage projects, with 74.6% of the pipeline value being in projects in the pre-execution and execution stages as of August 2019.

Scope

This report provides a comprehensive analysis of the construction industry in Italy. It provides –
– Historical (2014-2018) and forecast (2019-2023) 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 our 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 our critical and actionable insight.
– Assess business risks, including cost, regulatory and competitive pressures.
– Evaluate competitive risk and success factors.


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