Construction in Finland Key Trends and Opportunities to 2020

Construction in Finland Key Trends and Opportunities to 2020

  • December 2016 •
  • 78 pages •
  • Report ID: 4473089
Synopsis
Construction activity in Finland was weak during the review period (2011–2015), due to depressed economic conditions, reduced government spending and high unemployment rates. Poor investor confidence reduced infrastructure construction activities.

The industry’s value is expected to improve over the forecast period (2016–2020) due to investments in public infrastructure, energy and industrial projects, coupled with greater levels of consumer and investor confidence.

Over the forecast period, industry growth will be supported by government efforts to develop rail and road infrastructure and an increase in the number of new building permits issued.

In real terms, the industry’s output value is expected to rise from a compound annual growth rate (CAGR) of -2.52% during the review period, to a forecast-period CAGR of 2.71%.


Summary
Timetric’s Construction in Finland, Key Trends and Opportunities to 2020 report provides detailed market analysis, information and insights into the Finnish construction industry including:

- The Finnish construction industry's growth prospects by market, project type and construction activity

- Analysis of equipment, material and service costs for each project type in Finland

- Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in the Finnish construction industry

- Profiles of the leading operators in the Finnish construction industry

- Data highlights of the largest construction projects in Finland

Scope
This report provides a comprehensive analysis of the construction industry in Finland. It provides:

- Historical (2011-2015) and forecast (2016-2020) valuations of the construction industry in Finland using construction output and value-add methods

- Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by project type

- Breakdown of values within each project type, by type of activity (new construction, repair and maintenance, refurbishment and demolition) and by type of cost (materials, equipment and services)

- Analysis of key construction industry issues, including regulation, cost management, funding and pricing

- Detailed profiles of the leading construction companies in Finland

Reasons To Buy
- Identify and evaluate market opportunities using Timetric'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 Timetric's critical and actionable insight.

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

- Evaluate competitive risk and success factors.

Key Highlights
- In terms of building permits, there is clear evidence of expansion in the Finnish construction industry. According to Statistics Finland, the number of new building permits issued rose by 5.9%, from 29,565 in 2014 to 31,320 in 2015. During the first half of 2016, the number of new building permits issued rose by 24.8% compared to the same period in 2015.

- In line with the growing demand for air travel from domestic and foreign passengers, the government announced plans to expand Helsinki Vantaa airport. The Finnish Civil Aviation Administration (Finavia) announced a total investment of EUR900 million (US$1.2 billion) for the expansion, which will cover the 2014–2020 period.

- The country’s rapid population growth, coupled with the sustained pace of urbanization, is driving the need for improved regional connectivity. Accordingly, in 2014 the government launched the transport strategy under which it announced plans to invest EUR3.5 billion (US$3.9 billion) in transport infrastructure projects until 2022.

- The tourism sector is vital to Finnish economic growth. According to the World Travel and Tourism Council, the sector’s direct contribution to GDP was 2.1% in 2015, while its total contribution to GDP was 6.3%. The sector is expected to attract EUR1.5 billion (US$1.8 billion) in capital investments by 2025.

- Finland is gradually enhancing its attractiveness as one of the world's most favorable destinations for foreign investment in recent times. According to the World Bank’s Doing Business 2016 report, Finland ranked 10th among 189 countries in terms of ease of doing business. This is expected to drive new investment into construction projects in the coming years.
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