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Construction in Croatia - Key Trends and Opportunities to 2018

Published By :

Timetric

Published Date : Apr 2014

Category :

Construction

No. of Pages : 64 Pages

Synopsis

This report provides detailed market analysis, information and insights into the Croatian construction industry, including:

  • The Croatian construction industry\'s growth prospects by market, project type and type of construction activity
  • Analysis of equipment, material and service costs across each project type within Croatia
  • Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in the Croatian construction industry
  • Analyzing the profiles of the leading operators in the Croatian construction industry
  • Data highlights of the largest construction projects in Croatia

Executive summary

The Croatian construction industry registered a compound annual growth rate (CAGR) of -9.64% during the review period (2009–2013). This was driven by a contraction in institutional and industrial construction, primarily due to a reduction in investor confidence following the European debt crisis. The industry is expected to improve slowly over the forecast period (2014–2018), supported by a general recovery in the economy and business confidence. The industry is anticipated to record a forecast-period CAGR of 3.41%.

Scope

This report provides a comprehensive analysis of the construction industry in Croatia. It provides:

  • Historical (2009-2013) and forecast (2014-2018) valuations of the construction industry in Croatia using 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
  • Detailed profiles of the leading construction companies in Croatia

Reasons to buy

  • Identify and evaluate market opportunities using our 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 business strategies using Timetric\'s critical and actionable insight
  • Assess business risks, including cost, regulatory and competitive pressures
  • Evaluate competitive risk and success factors

Key highlights

  • The Croatian construction industry remained weak following the global and European financial crises. In real gross value-added terms, the industry in 2013 was 57.0% its size in 2008. Despite this, the rate of decline has slowed and, with some stabilization in the area covered by building permits in 2013, the construction industry appears set for a period of recovery.
  • A series of infrastructure projects will be launched to improve bridges, ports, roads, highways, airports, railways and power supplies. The Croatian government plans to invest HRK2.5 billion (US$436.5 million) in the construction and refurbishment of roads, HRK2.8 billion (US$488.9 million) for railways, HRK1.1 billion (US$192.1 million) for sea ports, HRK3.8 billion (US$663.4 million) for energy, and HRK127.0 million (US$22.2 million) for the combined heat and power (CHP) plant Sisak - Block C project.
  • According to Croatia’s Bureau of statistics, travel and tourism accounted for 15.0% of the country’s GDP in 2012. With an aim to increase the sector’s contribution, the government is focusing on the construction of new hotels and the expansion of existing ones. Overall, 12 large hotel projects, with a total room capacity of 2,900, are currently under construction. One such project is Split by Valamar Hotel Group, on which construction is expected to start by mid-2014. In 2013, the government also announced plans to invest HRK2.9 billion (US$506.0 million) in enhancing health tourism and eco-tourism on Bra?, an Adriatic island.
  • In 2012, the industrial sector accounted for 25.0% of the country’s GDP. Food, automotives, chemicals and pharmaceuticals are the sector’s main segments, collectively employing 100,000 people. Stringent labor market regulations restricted the sector’s competitiveness during the review period, due to the country’s centralized system for the negotiation of wage agreements. High labor costs and low productivity are expected to restrict the volume of investments further.
  • Under the National Renewable Energy Action Plan (NREAP) 2013–2020, the Croatian government aims to increase its share of renewable energy from 15.0% to 20.0%, improve energy efficiency by 20.0% and reduce carbon dioxide emissions by 20.0% until 2020. According to the plan, total incentive costs are expected to decline, as more energy will be produced from biogas, small hydroelectric power plants, biomass and cogeneration plants. The plan’s estimated budget is HRK13.9 billion (US$2.4 billion).
  • The government has recognized the importance of investment in science, technology and innovations to support economic development. To enhance research and development (R&D) activities in the country, in the second half of 2013, the government adopted the National Innovation Strategy 2013–2020 and the Action Plan 2013–2014 to strengthen the competitiveness of the country’s research facilities.
Table of contents

1 Executive Summary

2 Market Overview
2.1 Key Trends and Issues
2.2 Benchmarking by Market Size and Growth

3 Commercial Construction
3.1 Performance Outlook
3.2 Key Trends and Issues
3.3 Data and Project Highlights

4 Industrial Construction
4.1 Performance Outlook
4.2 Key Trends and Issues
4.3 Data and Project Highlights

5 Infrastructure Construction
5.1 Performance Outlook
5.2 Key Trends and Issues
5.3 Data and Project Highlights

6 Institutional Construction
6.1 Performance Outlook
6.2 Key Trends and Issues
6.3 Data and Project Highlights

7 Residential Construction
7.1 Performance Outlook
7.2 Key Trends and Issues
7.3 Data and Project Highlights

8 Company Profile: Viadukt d.d.
8.1 Viadukt d.d. – Company Overview
8.2 Viadukt d.d. – Main Services
8.3 Viadukt d.d. – Company Information
8.3.1 Viadukt d.d. – key competitors
8.3.2 Viadukt d.d. – key employees

9 Company Profile: Hidroelektra Niskogradnja d.d.
9.1 Hidroelektra Niskogradnja d.d. – Company Overview
9.2 Hidroelektra Niskogradnja d.d. – Main Products and Services
9.3 Hidroelektra Niskogradnja d.d. – Company Information
9.3.1 Hidroelektra Niskogradnja d.d. – key competitors
9.3.2 Hidroelektra Niskogradnja d.d. – key employees

10 Company Profile: Ingra d.d.
10.1 INGRA d.d. – Company Overview
10.2 INGRA d.d. – Main Services
10.3 INGRA d.d. – Company Information
10.3.1 INGRA d.d. – key competitors
10.3.2 INGRA d.d. – key employees

11 Company Profile: Strabag d.o.o.
11.1 Strabag d.o.o. – Company Overview
11.2 Strabag d.o.o. – Main Services
11.3 Strabag d.o.o. – Company Information
11.3.1 Strabag d.o.o. – key competitors
11.3.2 Strabag d.o.o. – key employees

12 Company Profile: Osijek-Koteks d.d.
12.1 Osijek-Koteks d.d. – Company Overview
12.2 Osijek-Koteks d.d. – Main Products and Services
12.3 Osijek-Koteks d.d. – Company Information
12.3.1 Osijek-Koteks d.d. – key competitors
12.3.2 Osijek-Koteks d.d. – key employees

13 Market Data Analysis
13.1 Construction Output and Value Add
13.1.1 Construction output by project type
13.1.2 Construction output by cost type
13.1.3 Construction output by activity type
13.1.4 Construction value add by project type
13.2 Commercial Construction
13.2.1 Commercial construction output by project type
13.2.2 Commercial construction output by cost type
13.2.3 Commercial construction output by activity type
13.2.4 Commercial construction value add by project type
13.3 Industrial Construction
13.3.1 Industrial construction output by project type
13.3.2 Industrial construction output by cost type
13.3.3 Industrial construction output by activity type
13.3.4 Industrial construction value add by project type
13.4 Infrastructure Construction
13.4.1 Infrastructure construction output by project type
13.4.2 Infrastructure construction output by cost type
13.4.3 Infrastructure construction output by activity type
13.4.4 Infrastructure construction value add by project type
13.5 Institutional Construction
13.5.1 Institutional construction output by project type
13.5.2 Institutional construction output by cost type
13.5.3 Institutional construction output by activity type
13.5.4 Institutional construction value add by project type
13.6 Residential Construction
13.6.1 Residential construction output by project type
13.6.2 Residential construction output by cost type
13.6.3 Residential construction output by activity type
13.6.4 Residential construction value add by project type

14 Appendix
14.1 What is This Report About?
14.2 Definitions
14.3 Summary Methodology
14.4 Methodology
14.5 Contact Timetric
14.6 About Timetric
14.7 Timetric’s Services
14.8 Disclaimer

List of Table

Table 1: Benchmarking with Other Major Construction Industries
Table 2: Commercial Construction Project 1 – Razvoj – Golf Park Dubrovnik – Croatia
Table 3: Commercial Construction Project 2 – Poseidon – Dalmatia Capitol Park – Split
Table 4: Commercial Construction Project 3 – Tulipan Group/ EPM – Split Gate Office Tower Development – Croatia
Table 5: Industrial Construction Project 1 – Adria LNG – Island of Krk LNG Terminal – Croatia
Table 6: Industrial Construction Project 2 – Belupo - Koprivnica Pharmaceutical Plant - Croatia
Table 7: Industrial Construction Project 3 – ZBH – Zagreb Mechanical Biological Treatment Plant – Croatia
Table 8: Infrastructure Construction Project 1 – HZ – Botovo-Zagreb-Rijeka Railway Line – Croatia
Table 9: Infrastructure Construction Project 2 – LNG Hrvatska – Adriatic LNG Terminal – Croatia
Table 10: Infrastructure Construction Project 3 – RPA – Zagreb Pier Container Terminal – Croatia
Table 11: Institutional Construction Project 1 – UoZ – Borongaj Zagreb University campus – Croatia
Table 12: Institutional Construction Project 2 – MoJ – Zagreb Justice Square – Croatia
Table 13: Institutional Construction Project 3 – ZCC – St. John Hospital Redevelopment – Jankomir
Table 14: Residential Construction Project 1 – Tulipan Group/EPM – Split Gate Residential Development – Croatia
Table 15: Residential Construction Project 2 – TG – Split Gate Mixed-Use Development – Croatia
Table 16: Viadukt d.d., Key Facts
Table 17: Viadukt d.d., Main Services
Table 18: Viadukt d.d., Key Employees
Table 19: Hidroelektra Niskogradnja d.d., Key Facts
Table 20: Hidroelektra Niskogradnja d.d., Main Products and Services
Table 21: Hidroelektra Niskogradnja d.d., Key Employees
Table 22: INGRA d.d., Key Facts
Table 23: INGRA d.d., Main Services
Table 24: INGRA d.d., Key Employees
Table 25: Strabag d.o.o., Key Facts
Table 26: Strabag d.o.o., Main Services
Table 27: Strabag d.o.o., Key Employees
Table 28: Osijek-Koteks d.d., Key Facts
Table 29: Osijek-Koteks d.d., Main Products and Services
Table 30: Osijek-Koteks d.d., Key Employees
Table 31: Croatian Construction Output by Project Type (HRK Million), 2009–2013
Table 32: Croatian Construction Output by Project Type (HRK Million), 2013–2018
Table 33: Croatian Construction Output by Cost Type (HRK Million), 2009–2013
Table 34: Croatian Construction Output by Cost Type (HRK Million), 2013–2018
Table 35: Croatian Construction Output by Activity Type (HRK Million), 2009–2013
Table 36: Croatian Construction Output by Activity Type (HRK Million), 2013–2018
Table 37: Croatian Construction Value Add by Project Type (HRK Million), 2009–2013
Table 38: Croatian Construction Value Add by Project Type (HRK Million), 2013–2018
Table 39: Croatian Commercial Construction Output by Project Type (HRK Million), 2009–2013
Table 40: Croatian Commercial Construction Output by Project Type (HRK Million), 2013–2018
Table 41: Croatian Commercial Construction Output by Cost Type (HRK Million), 2009–2013
Table 42: Croatian Commercial Construction Output by Cost Type (HRK Million), 2013–2018
Table 43: Croatian Commercial Construction Output by Activity Type (HRK Million), 2009–2013
Table 44: Croatian Commercial Construction Output by Activity Type (HRK Million), 2013–2018
Table 45: Croatian Commercial Construction Value Add by Project Type (HRK Million), 2009–2013
Table 46: Croatian Commercial Construction Value Add by Project Type (HRK Million), 2013–2018
Table 47: Croatian Industrial Construction Output by Project Type (HRK Million), 2009–2013
Table 48: Croatian Industrial Construction Output by Project Type (HRK Million), 2013–2018
Table 49: Croatian Industrial Construction Output by Cost Type (HRK Million), 2009–2013
Table 50: Croatian Industrial Construction Output by Cost Type (HRK Million), 2013–2018
Table 51: Croatian Industrial Construction Output by Activity Type (HRK Million), 2009–2013
Table 52: Croatian Industrial Construction Output by Activity Type (HRK Million), 2013–2018
Table 53: Croatian Industrial Construction Value Add by Project Type (HRK Million), 2009–2013
Table 54: Croatian Industrial Construction Value Add by Project Type (HRK Million), 2013–2018
Table 55: Croatian Infrastructure Construction Output by Project Type (HRK Million), 2009–2013
Table 56: Croatian Infrastructure Construction Output by Project Type (HRK Million), 2013–2018
Table 57: Croatian Infrastructure Construction Output by Cost Type (HRK Million), 2009–2013
Table 58: Croatian Infrastructure Construction Output by Cost Type (HRK Million), 2013–2018
Table 59: Croatian Infrastructure Construction Output by Activity Type (HRK Million), 2009–2013
Table 60: Croatian Infrastructure Construction Output by Activity Type (HRK Million), 2013–2018
Table 61: Croatian Infrastructure Construction Value Add by Project Type (HRK Million), 2009–2013
Table 62: Croatian Infrastructure Construction Value Add by Project Type (HRK Million), 2013–2018
Table 63: Croatian Institutional Construction Output by Project Type (HRK Million), 2009–2013
Table 64: Croatian Institutional Construction Output by Project Type (HRK Million), 2013–2018
Table 65: Croatian Institutional Construction Output by Cost Type (HRK Million), 2009–2013
Table 66: Croatian Institutional Construction Output by Cost Type (HRK Million), 2013–2018
Table 67: Croatian Institutional Construction Output by Activity Type (HRK Million), 2009–2013
Table 68: Croatian Institutional Construction Output by Activity Type (HRK Million), 2013–2018
Table 69: Croatian Institutional Construction Value Add by Project Type (HRK Million), 2009–2013
Table 70: Croatian Institutional Construction Value Add by Project Type (HRK Million), 2013–2018
Table 71: Croatian Residential Construction Output by Project Type (HRK Million), 2009–2013
Table 72: Croatian Residential Construction Output by Project Type (HRK Million), 2013–2018
Table 73: Croatian Residential Construction Output by Cost Type (HRK Million), 2009–2013
Table 74: Croatian Residential Construction Output by Cost Type (HRK Million), 2013–2018
Table 75: Croatian Residential Construction Output by Activity Type (HRK Million), 2009–2013
Table 76: Croatian Residential Construction Output by Activity Type (HRK Million), 2013–2018
Table 77: Croatian Residential Construction Value Add by Project Type (HRK Million), 2009–2013
Table 78: Croatian Residential Construction Value Add by Project Type (HRK Million), 2013–2018
Table 79: Timetric Construction Market Definitions

List of Chart


Figure 1: Growth Matrix for Construction Output in Croatia (%), 2009–2018
Figure 2: Benchmarking with Other Major Construction Industries (%), 2009–2018
Figure 3: Croatian Commercial Construction Output (US$ Million), 2009–2018
Figure 4: Croatian Industrial Construction Output (US$ Million), 2009–2018
Figure 5: Croatian Infrastructure Construction Output (US$ Million), 2009–2018
Figure 6: Croatian Institutional Construction Output (US$ Million), 2009–2018
Figure 7: Croatian Residential Construction Output (US$ Million), 2009–2018
Figure 8: Croatian Construction Output by Project Type (HRK Million), 2009–2018
Figure 9: Croatian Construction Output by Cost Type (HRK Million), 2009–2018
Figure 10: Croatian Construction Output by Activity Type (HRK Million), 2009–2018
Figure 11: Croatian Construction Value Add by Project Type (HRK Million), 2009–2018
Figure 12: Croatian Commercial Construction Output by Project Type (HRK Million), 2009–2018
Figure 13: Croatian Commercial Construction Output by Cost Type (HRK Million), 2009–2018
Figure 14: Croatian Commercial Construction Output by Activity Type (HRK Million), 2009–2018
Figure 15: Croatian Commercial Construction Value Add by Project Type (HRK Million), 2009–2018
Figure 16: Croatian Industrial Construction Output by Project Type (HRK Million), 2009–2018
Figure 17: Croatian Industrial Construction Output by Cost Type (HRK Million), 2009–2018
Figure 18: Croatian Industrial Construction Output by Activity Type (HRK Million), 2009–2018
Figure 19: Croatian Industrial Construction Value Add by Project Type (HRK Million), 2009–2018
Figure 20: Croatian Infrastructure Construction Output by Project Type (HRK Million), 2009–2018
Figure 21: Croatian Infrastructure Construction Output by Cost Type (HRK Million), 2009–2018
Figure 22: Croatian Infrastructure Construction Output by Activity Type (HRK Million), 2009–2018
Figure 23: Croatian Infrastructure Construction Value Add by Project Type (HRK Million), 2009–2018
Figure 24: Croatian Institutional Construction Output by Project Type (HRK Million), 2009–2018
Figure 25: Croatian Institutional Construction Output by Cost Type (HRK Million), 2009–2018
Figure 26: Croatian Institutional Construction Output by Activity Type (HRK Million), 2009–2018
Figure 27: Croatian Institutional Construction Value Add by Project Type (HRK Million), 2009–2018
Figure 28: Croatian Residential Construction Output by Project Type (HRK Million), 2009–2018
Figure 29: Croatian Residential Construction Output by Cost Type (HRK Million), 2009–2018
Figure 30: Croatian Residential Construction Output by Activity Type (HRK Million), 2009–2018
Figure 31: Croatian Residential Construction Value Add by Project Type (HRK Million), 2009–2018

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