Research of Construction in Croatia Industry : Technology, Applications, Growth and Status 2016-2020

Synopsis
Construction activity in Croatia was weak during the review period (2011-2015) following the economic recession, which resulted in a deteriorating business environment.

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Poor investor confidence reduced construction activity in the country. Consequently, the construction industrys output value in real terms contracted at a compound annual growth rate (CAGR) of 6.03% during the review period.

The industrys value is expected to pick up slightly over the forecast period (2016-2020), however, driven by a gradual revival in the economy and subsequent improvements in business confidence. This is expected to be driven by investments in the countrys public infrastructure, commercial and energy projects over the forecast period.

The European Unions (EU) move to finance various infrastructure projects in the country through the Cohesion Fund (CF) and European Regional Development Fund (ERDF) will also support growth in the industry over the forecast period.

The industrys output value in real terms is expected to rise at a CAGR of 1.79% over the forecast period; up from -6.03% during the review period.

Over the forecast period, government efforts to develop the countrys transport and commercial infrastructure will support growth in the industry. In addition, the governments aim to improve local energy resources is expected to support investments in energy infrastructure projects, which will fuel growth in the industry.

Summary
Timetrics Construction in Croatia - Key Trends and Opportunities to 2020 report provides detailed market analysis, information and insights into the Croatian construction industry including:

Croatian construction industry's growth prospects by market, project type and construction activity

Analysis of equipment, material and service costs for each project type in 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

Profiles of the leading operators in the Croatian construction industry

Data highlights of the largest construction projects in Croatia

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

Historical (2011-2015) and forecast (2016-2020) valuations of the construction industry in Croatia 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 Croatia

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
The Croatian construction industry has been in decline since 2009. In real terms, the construction industrys output contracted by 39.9% between 2009 and 2015. According to the Croatian Bureau of Statistics (CBS), the countrys seasonally adjusted annual average construction work index declined by 0.9%, from 68.6 in 2014 to 68.0 in 2015. However, government efforts to restore economic growth through large-scale infrastructure investments are leading to improvement in the construction activity in the country. In addition, the EUs provision of financial aid to develop infrastructure projects across the country is also adding momentum to construction activity.

In a bid to promote economic growth in Europe, the EC launched the CEF program in 2014. Under this program, the EC made investments to develop various cross-border projects in the transport, energy and telecommunication sectors until 2020. Accordingly, in June 2016, the EC approved HRK2.3 billion (US$335.3 million) to finance 12 transport infrastructure projects in Croatia.

With an aim to develop the countrys infrastructure, the government is seeking financial assistance from the EU. Accordingly, in March 2015, the European Investment Bank (EIB) granted a loan of HRK2.2 billion (US$320.8 million) as the initial disbursement of the total loan of HRK4.5 billion (US$656.2 million). This disbursement is a part of the EIBs move to co-finance HRK60.6 billion (US$8.8 billion) worth of priority infrastructure projects in various sectors, such as healthcare, energy and transport.

Tourism is a key sector in the Croatian economy, and constitutes over one-fifth of the countrys GDP. The government is therefore making efforts to promote growth in the tourism sector. As a part of the move, in April 2016, the Croatian Tourism Ministry signed an agreement with Avenue Ulaganja, to develop the Kupari tourism project in Dubrovnik with an investment of over HRK1.0 billion (US$145.8 million).

In November 2015, the EC announced plans to implement five energy infrastructure projects in the country under the CEF program. These projects are categorized under the ECs list of Projects of Common Interest (PCIs), and aim to improve the share of renewable energy in the countrys total energy mix, while reducing carbon emissions.

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