Construction in Norway Market Trends, Forecast, and Opportunity Assessment 2020


Construction in Norway
Synopsis 
In real terms, the Norwegian construction industry grew during the review period (2011–2015), registering a compound annual growth rate (CAGR) of 5.38%. Construction activity was weak in 2013 due to depressed economic conditions following a decline in oil prices. Oil and gas extraction accounts for over 25% of the country’s GDP. Consequently, limited business confidence adversely affected investments. The industry subsequently recovered, driven by the government’s move to diversify the economy away from oil by focusing on other sectors such as the construction, healthcare and industrial sectors.
Over the forecast period (2016–2020), the industry is expected to expand, albeit slowly, posting a CAGR of 4.04%. Improving investor and consumer confidence is expected to drive investments in residential, infrastructure, and commercial construction.
Government efforts to balance demand and supply for housing and energy are expected to support construction industry growth over the forecast period. According to Statistics Norway, the number of new residential building permits issued in the country grew by 14.9% in 2015 relative to 2014.
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Summary
Timetric’s Construction in Norway – Key Trends and Opportunities to 2020 report provides detailed market analysis, information and insights into the Norwegian construction industry including:
• Norwegian construction industry's growth prospects by market, project type and construction activity
• Analysis of equipment, material and service costs for each project type in Norway
• Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in the Norwegian construction industry
• Profiles of the leading operators in the Norwegian construction industry
• Data highlights of the largest construction projects in Norway
Scope
This report provides a comprehensive analysis of the construction industry in Norway It provides:
• Historical (2011-2015) and forecast (2016-2020) valuations of the construction industry in Norway 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 Norway
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 July 2016, the Norwegian Public Roads Administration (NPRA) announced plans to construct the world’s first floating underwater tunnel at Sognefjord which is located in Sogn og Fjordane county, Western Norway. The NPRA is planning to invest NOK198.8 billion (US$25.0 billion) to implement the project, which includes the erection of two 1,200m-long concrete tubes 30m under the water that will connect to floating pontoons. On completion in 2035, the tunnel is expected to reduce the cross-country transit time from the present 22 hours to 11 hours.
• According to Statistics Norway, the average new orders value index for building construction rose by 4.1% from 115.3 in 2014 to 120.0 in 2015. The new orders value index grew by a further 5.9% in the first half of 2016, from 118.0 in January–June 2015 to 125.0 in January–June 2016.
• According to Statistics Norway, the country’s seasonally adjusted average housing price index rose by 6.1% from 172.1 in 2014 to 182.6 in 2015. In the first half of 2016, the average housing price index grew further by 5.1% from 180.8 in January–June 2015 to 189.9 in January–June 2016. The highest increase was recorded in the capital Oslo (including Bærum) where the average house price index rose by 11.0%, from 187.3 in January–June 2015 to 207.9 in January–June 2016.
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.
Continued
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About Us
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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