Summary

GlobalData expects the Irish construction industry to expand by 10.9% in real terms in 2021 - up from a decline of 12.7% in 2020. The industry’s output was affected by the COVID-19 outbreak and the subsequent lockdown measures imposed to contain the virus’s spread. This has continued to weigh on construction progress and has created supply chain disruptions and project delays.

The industry is expected to be further affected in Q1 2021 owing to the closure of non-essential construction sites from early January to early March 2021. The initial effects of the latest lockdown restrictions on the industry are reflected by the fall in Ulster Bank’s Construction Purchasing Managers Index (PMI). It fell to 21.2 in January 2021, following an average score of 42.1 in 2020. A further downside risk to the industry’s outlook stems from the double-digit year-on-year (Y-o-Y) contraction in the number of planning permissions granted during the first three quarters of 2020.

The construction industry’s output is expected to pick up pace and improve gradually over the coming months, following the re-opening of the industry on 5th March 2021. Output will be supported by the government’s investments in roads, housing, hospitals, and school projects. In the 2021 budget, announced in October 2020, the government allocated EUR10.1 billion (US$11.6 billion) towards capital expenditure, with the housing and transport sectors accounting for 27.3% and 24.5% of the total allocation, respectively. Over the remaining part of the forecast period, the industry is expected to register an annual average growth of 4.4% between 2022-2025, supported by the government’s investment in transport and housing infrastructure, as well as its focus on reducing greenhouse gas emissions in the country, which will attract public and private sector investment on renewable energy projects.

This report provides detailed market analysis, information, and insights into the Irish construction industry, including -

  • The Irish 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 the Irish construction industry
  • Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.




Scope

This report provides a comprehensive analysis of the construction industry in Ireland. It provides -

  • Historical (2016-2020) and forecast (2021-2025) valuations of the construction industry in Ireland, featuring details of key growth drivers.
  • Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
  • Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
  • Listings of major projects, in addition to details of leading contractors and consultants




Reasons To Buy

  • Identify and evaluate market opportunities using GlobalData’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 GlobalData’s critical and actionable insight.
  • Assess business risks, including cost, regulatory and competitive pressures.
  • Evaluate competitive risk and success factors.