Synopsis
This report provides detailed market
analysis, information and insights into the Estonian construction market,
including:
- The Estonian construction market’s growth prospects by sector, project type and type of construction activity
- Analysis of equipment, material and service costs across each project type within Estonia
- Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in the Estonian construction market
- Assessment of the competitive forces facing the construction industry in Estonia and profiles of the leading operators
- Data highlights of the largest construction projects in Estonia.
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Executive summary
The Estonian construction industry
recorded a CAGR of -6.69% during the review period. The housing market cooled
in 2008 as interest rates began to rise and banks tightened their lending
conditions. Deflation in the property market was one of the main reasons for
the decline in domestic demand and was a major contributor to the country
witnessing an economic contraction of over 14% in 2009. Investment in the
infrastructure construction market went some way to supporting the construction
industry during the period of economic downturn, recording the lowest decline
in all construction markets during the review period, at -0.08%. Overall, a
balanced growth with a focus on quality is forecast for the Estonian
construction industry. Timetric expects the Estonian construction industry to
record a CAGR of 5.83% over the forecast period.
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