Albany, NY -- (SBWIRE) -- 07/23/2019 -- The purpose of this MRH research study titled Construction in New Zealand-Key Trends and Opportunities to 2023 is to enlighten the readers about the Construction in New Zealand with a stern focus on the development trends and opportunities projected for future years. In short, this assessment drops light on the market size and revenue share which are motivated by numerous market drivers, together with a clear insight about challenges that might create a blockage for the development of Construction in New Zealand.
Get Sample Copy of This Report @ https://www.marketresearchhub.com/enquiry.php?type=S&repid=2438637
Construction in New Zealand - Key Trends and Opportunities to 2023
Summary
The pace of expansion in New Zealands construction industry slowed in 2017 and 2018, as investment growth was undermined by weak investor confidence as a result of a shortage of a skilled workforce, high wages and a lower profit margin. The industrys growth will pick up pace in 2019, in part supported by government plans to boost infrastructure spending.
In real terms, New Zealands construction industrys output grew at a compound annual growth rate (CAGR) of 4.85% during the review period (2014-2018). Although output growth slowed in 2017 and 2018, the general upward trend can be attributed to public and private sector investment in residential and transport infrastructure projects. Under the National Land Transport Programme, the government invested NZD13.9 billion (US$9.7 billion) to develop the countrys overall transport infrastructure during 2015-2018.
Industry growth over the forecast period (2019-2023) will be supported by public and private sector investments in transport, institutional and residential construction projects. In September 2018, the government announced plans to invest NZD16.9 billion (US$11.2 billion) on the development of the countrys overall transport infrastructure over the next three years; of the total, NZD5.3 billion (US$7.7 billion) will be spent on improving state and highways roads. The governments effort to balance the demand and supply of affordable residential buildings for first-time buyers is also expected to attract investments in the residential market. Under the KiwiBuild program, the government aims to construct 100,000 affordable homes across the country by 2028, of which 50,000 will be built in Auckland. Moreover, an increase in the number of residential building permits issued is expected to support new construction activity over the forecast period.
The industrys output value in real terms is expected to rise at a CAGR of 3.57% over the forecast period.
GlobalDatas "Construction in New Zealand - Key Trends and Opportunities to 2023", report provides detailed market analysis, information and insights into New Zealands construction industry, including -
- New Zealands 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 New Zealands 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
- GlobalData expects the residential construction market to retain its leading position over the forecast-period and account for 43.8% of the total value in 2023, driven by the government efforts to balance housing demand and supply through the construction of affordable housing units. In the 2019 budget, the government announced plans to invest NZD197 million (US$136.1 million) to construct 2,700 housing units by 2023 under the Housing First Programme.
- In May 2019, the government announced that it increased the 2019 budget by 8.8%, going from NZD102 billion (US$70.4 billion) in 2018 to NZD111 billion (US$75 billion) in 2019. Of the total budget, it allocated NZD19.9 billion (US$13.4 billion) to the Ministry of Health, NZD16.1 billion (US$16.1 billion) to the Ministry of Education, NZD5.8 billion (US$3.9 billion) to the Ministry of Transport and NZD2.2 billion (US$1.5 billion) to the Ministry of Housing and Urban Development.
- GlobalData expects the infrastructure construction market to post a forecast-period CAGR of 3.89% in nominal terms, driven by the governments plan to develop the countrys transport infrastructure. In September 2018, the government announced plans to spend NZD16.9 billion (US$11.7 billion) to develop the country road transport infrastructure under the National Land Transport Program during the period of 2019-2021.
- Forecast-period growth in the energy and utilities construction market will be driven by the governments efforts to develop the telecommunication infrastructure in order to improve broadband and mobile coverage in the rural and remote locations of the country. In December 2018, the government announced the expansion of the Rural Broadband Initiative Phase 2 (RBI2) and Mobile Blackspot Fund (MBSF) program, through which it plans to extend broadband and mobile coverage to 99.8% of the population by 2022.
- The total construction project pipeline in New Zealand - as tracked by GlobalData, and including all mega projects with a value above US$25 million - stands at NZD73.1 billion (US$50.5 billion). The pipeline, which includes all projects from pre-planning to execution, is skewed towards late-stage projects, with 66.7% of the pipeline value being in projects in the pre-execution and execution stages as of July 2019.
BROWSE Full Report NOW @ https://www.marketresearchhub.com/report/construction-in-new-zealand-key-trends-and-opportunities-to-2023-report.html
Table of Contents
1 Executive Summary
2 Construction Outlook: At-a-glance
3 Latest News and Indicators
4 Key Drivers and Risks
4.1. Economic Performance
4.2. Political Environment
4.3. Demographics
4.4. Risk Profile
5 Construction Outlook
5.1. All Construction
5.1.1. Outlook
5.1.2. Project analytics
5.2. Commercial Construction
5.2.1. Outlook
5.2.2. Project analytics
5.3. Industrial Construction
5.3.1. Outlook
5.3.3. Project analytics
5.4. Infrastructure Construction
5.4.1. Outlook
5.4.2. Project analytics
5.5. Energy and Utilities Construction
5.5.1. Outlook
5.5.2. Project analytics
5.6. Institutional Construction
5.6.1. Outlook
5.6.2. Project analytics
5.7. Residential Construction
5.7.1. Outlook
5.7.2. Project analytics
6 Key Industry Participants
6.1. Contractors
6.2. Consultants
7 Appendix
7.1. What is this Report About?
7.2. Definitions
8 About GlobalData
8.1. GlobalData at a Glance
8.2. GlobalData Construction
8.3. Disclaimer
8.4. Contact Us
List of Tables
Table 1: Construction Outlook
Table 2: New Zealand, Key Economic Indicators
Table 3: New Zealand, Construction Output Value (nominal, NZD Million)
Table 4: New Zealand, Construction Output Value (nominal, US$ Million)
Table 5: New Zealand, Top Commercial Construction Projects by Value
Table 6: New Zealand, Top Industrial Construction Projects by Value
Table 7: New Zealand, Top Infrastructure Construction Projects by Value
Table 8: New Zealand, Top Energy and Utilities Construction Projects by Value
Table 9: New Zealand, Top Institutional Construction Projects by Value
Table 10: New Zealand, Top Residential and Mixed-Use Construction Projects by Value
Table 11: New Zealand, Key Contractors
Table 12: New Zealand, Key Consultants
Table 13: GlobalData Construction Market Definitions
Table 14: Construction Risk Index Ratings and Scores
More Information………@@@
Enquire about this Report @ https://www.marketresearchhub.com/enquiry.php?type=enquiry&repid=2438637
About Market Research Hub
Market Research Hub (MRH) is a next-generation reseller of research reports of different sector like construction market research and analysis. MRH's expansive collection of industry reports has been carefully curated to help key personnel and decision makers across industry verticals to clearly visualize their operating environment and take strategic steps.
MRH functions as an integrated platform for the following products and services: Objective and sound market forecasts, qualitative and quantitative analysis, incisive insight into defining industry trends, and market share estimates. Our reputation lies in delivering value and world-class capabilities to our clients.