Construction in Greece Market Trends, Forecast, and Opportunity Assessment 2021


Construction in Greece
Synopsis
Greece’s construction industry has undergone a dramatic decline since 2010 due to depressed economic conditions. The industry was adversely affected by various austerity measures implemented by the government in the form of public expenditure cuts amid the economic crisis; poor business confidence reduced investments in construction projects.
Following five years of contraction, the Greek construction industry rebounded in 2015, and registered growth of 2.2% in real terms. This recovery continued in 2016 with a growth rate of 0.5% due to slight recovery in the economy, which provided some momentum to the construction activity.
Over the forecast period (2017–2021), the industry is expected to remain subdued, while experiencing a period of negative growth during 2017 and 2018, as the country is again expected to experience economic instability; further threatening investor confidence. The industry is expected to rebound from 2019, with the economy expected to show positive signs of recovery from the financial crisis. This is expected to accelerate the flow of investments in construction projects.
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Summary
Timetric’s Construction in Greece – Key Trends and Opportunities to 2021 report provides detailed market analysis, information and insights into the Greek construction industry, including:
• The Greek construction industry's growth prospects by market, project type and construction activity
• Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in the Greek construction industry
• Profiles of the leading operators in the Greek construction industry
Scope
This report provides a comprehensive analysis of the construction industry in Greece. It provides:
• Historical (2012-2016) and forecast (2017-2021) valuations of the construction industry in Greece using construction output and value-add methods
• Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
• 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)
• Detailed profiles of the leading construction companies in Greece
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 the wake of economic crisis, the Greek government is considering privatization as a vital means to revitalize economic growth. In April 2017, Fraport Greece, the joint venture between Greece’s Copelouzos Group and Fraport AG Frankfurt Airport Services Worldwide, took over the management and development of the country’s 14 airports. Fraport Greece plans to invest over EUR400 million (US$424.6 million) until 2021 to develop infrastructure in these airports.
• In March 2016, the EU approved the development of the Trans-Adriatic Pipeline project in Greece. The project includes the construction of an 878km-long new gas pipeline with an aim to serve the energy needs of over 7.0 million European households, while reducing dependency on Russian gas imports. The total investment of the project is estimated at EUR5.0 billion (US$5.6 billion), while investment in Greece amounts to over EUR2.3 billion (US$2.6 billion), which will be utilized for the construction of the 550.0km-long pipeline. Upon its successful completion in 2020, the pipeline in Greece will connect to Albania at Ieropigi and Turkey at Kiproi.
• Infrastructure development in Greece in recent years has been adversely affected by heavy public expenditure cuts imposed by the government on the back of depressed economic conditions. Over the forecast period, the market is expected to recover slightly supported by the government’s effort to develop the country’s transport infrastructure on the back of increasing traffic congestion. Additionally, investments in transport infrastructure projects by international organizations such as the EU are expected to support the market growth. According to Timetric, the infrastructure construction market is expected to post a nominal forecast-period CAGR of 0.67%, compared with -2.83% registered during the review period.
• China has been a vital source of investment for Greece during its economic crisis. In order to further extend its support, in May 2017 the Chinese government announced plans to invest EUR3.2 billion (US$3.4 billion) to develop various energy infrastructure projects and EUR523.8 million (US$556.0 million) to develop fiber optic network infrastructure projects in Greece by 2020.
Table of Contents

1 Executive Summary
2 Industry Outlook
    2.1 Commercial Construction
    2.2 Industrial Construction
    2.3 Infrastructure Construction
    2.4 Energy and Utilities Construction
    2.5 Institutional Construction
    2.6 Residential Construction
3 Key Issues and Developments
4 Market Data Analysis 
 4.1 Construction Output and Value Add
      4.1.1 Construction output by project type
      4.1.2 Construction output by cost type
      4.1.3 Construction output by activity type
      4.1.4 Construction value add by project type
    4.2 Commercial Construction
      4.2.1 Commercial construction output by project type
      4.2.2 Commercial construction output by cost type
      4.2.3 Commercial construction output by activity type
      4.2.4 Commercial construction value add by project type
    4.3 Industrial Construction 
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Wise Guy Reports is part of the Wise Guy Consultants Pvt. Ltd. and offers premium progressive statistical surveying, market research reports, analysis & forecast data for industries and governments around the globe. Wise Guy Reports understand how essential statistical surveying information is for your organization or association. Therefore, we have associated with the top publishers and research firms all specialized in specific domains, ensuring you will receive the most reliable and up to date research data available.
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