Construction in Poland - Key Trends and
Opportunities to 2017
This
report provides detailed market analysis, information and insights into the
Polish construction market, including:
- The Polish 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 Poland
- Critical insight into the impact of industry trends and issues and the risks and opportunities they present to participants in the Polish construction market
- Assessment of the competitive forces facing the construction industry in Poland and profiles of the leading players
- Data highlights of the largest construction projects in Poland
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Executive
summary
The
Polish construction industry increased in value at a compound annual growth
rate (CAGR) of 3.93% during the review period (2008–2012). The commercial and
infrastructure construction markets drove this growth. European Union (EU)
funds and the 2012 UEFA European Championship supported the infrastructural
improvements. The Polish economy demonstrated strong resilience during the
financial crisis due to strong domestic demand and consumption, and a flexible
currency. Poland was the only country in Europe to avoid the recession in 2009.
However, growth in the industry is expected to be moderate over the forecast
period (2013–2017), as a result of rising unemployment rates and low wage
growth. The industry is expected to record a forecast-period CAGR of 0.33%.
Scope
This
report provides a comprehensive analysis of the construction industry in
Poland:
- Historical (2008-2012) and forecast (2013-2017) valuations of the construction market in Poland using the construction output and value-add methods
- Segmentation by sector (commercial, industrial, infrastructure, 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
- Assessment of the competitive environment using Porter’s Five Forces
- Detailed profiles of the leading construction companies in Poland
Reasons
to buy
- Identify and evaluate market opportunities using our standardized valuation and forecasting methodologies
- Assess market growth potential at a micro-level via 600+ time series data forecasts
- Understand the latest industry and market trends
- Formulate and validate business strategies by leveraging our critical and actionable insight
- Assess business risks, including cost, regulatory and competitive pressures
- Evaluate competitive risk and success factors
Key
highlights
- Poland’s GDP growth is expected to slow further to 1.4% in 2013, its lowest growth since 2002, underpinned by weaker exports demand from the Eurozone, falling consumer expenditure and fiscal tightening measures. However, the economy is expected to recover modestly from 2014 and will grow by 2.4%, supported by a gradual rise in private consumption and investment. GDP growth is expected to improve further in the remaining part of the forecast period, growing by 3.5%, mainly supported by the new EU financial framework (2014–2020).
- The Polish construction industry performed weakly after Uefa Euro 2012. According to the Central Statistical Office (CSO), the industry contracted by 0.6% in 2012, with the number of buildings built falling by 1.3%, and the number of building permits falling by 8.8% compared with levels recorded in 2011. The industry has remained weak in 2013, falling by 15.1% in the first quarter of the year, reflecting the increase in the number of companies suffering financial distress.
- Many construction companies filed for bankruptcy as a result of rising input costs. PBG SA, the third-largest construction company in Poland, was in PLN1.5 billion worth of debt and filed for bankruptcy in June 2012, the largest corporate bankruptcy. Continued deferred payments from customers and rising costs led PBG into deep financial crisis. Dolnośląskie Surowce Skalne (DSS), a major Polish construction company which was involved in the construction of the A2 highway, also filed for bankruptcy in 2012.
- Tourism is a key sector in Poland’s economy, both in terms of contribution to GDP as well as growth in the employment rate. In 2012, the travel and tourism sector contributed 5% to the total GDP, and 4.9% to total employment. According to the World Travel and Tourism Council (WTTC), the sector’s contribution to GDP is expected to increase by 1% in 2013 and 5.3% per annum by 2023, to reach 6.1% of GDP, which will help to increase demand for leisure and hospitality buildings over the forecast period.
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