2013-12-11 12:34:43 - Recently published research from Timetric, "Construction in Poland - Key Trends and Opportunities to 2017", is now available at Fast Market Research
The Polish construction industry increased in value at a compound annual growth rate (CAGR) of 3.93% during the review period (2008-2012). The commercial and infrastructure construction markets drove this growth. European Union (EU) funds and the 2012 UEFA European Championship supported the infrastructural improvements. The Polish economy demonstrated strong resilience during the financial crisis due to strong domestic demand and consumption, and a flexible currency. Poland was the only country in Europe to avoid the recession in 2009. However, growth in the industry is expected to be moderate over the forecast period (2013-2017), as a result of rising unemployment rates and low wage growth. The industry is expected to record a forecast-period CAGR of 0.33%. www.fastmr.com/prod/752992_construction_in_poland_key_trends_and ..
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* Poland's GDP growth is expected to slow further to 1.4% in 2013, its lowest growth since 2002, underpinned by weaker exports demand from the Eurozone, falling consumer expenditure and fiscal tightening measures. However, the economy is expected to recover modestly from 2014 and will grow by 2.4%, supported by a gradual rise in private consumption and investment. GDP growth is expected to improve further in the remaining part of the forecast period, growing by 3.5%, mainly supported by the new EU financial framework (2014-2020).
* The Polish construction industry performed weakly after Uefa Euro 2012. According to the Central Statistical Office (CSO), the industry contracted by 0.6% in 2012, with the number of buildings built falling by 1.3%, and the number of building permits falling by 8.8% compared with levels recorded in 2011. The industry has remained weak in 2013, falling by 15.1% in the first quarter of the year, reflecting the increase in the number of companies suffering financial distress.
* Many construction companies filed for bankruptcy as a result of rising input costs. PBG SA, the third-largest construction company in Poland, was in PLN1.5 billion worth of debt and filed for bankruptcy in June 2012, the largest corporate bankruptcy. Continued deferred payments from customers and rising costs led PBG into deep financial crisis. Dolnośląskie Surowce Skalne (DSS), a major Polish construction company which was involved in the construction of the A2 highway, also filed for bankruptcy in 2012.
* Tourism is a key sector in Poland's economy, both in terms of contribution to GDP as well as growth in the employment rate. In 2012, the travel and tourism sector contributed 5% to the total GDP, and 4.9% to total employment. According to the World Travel and Tourism Council (WTTC), the sector's contribution to GDP is expected to increase by 1% in 2013 and 5.3% per annum by 2023, to reach 6.1% of GDP, which will help to increase demand for leisure and hospitality buildings over the forecast period.
This report provides a comprehensive analysis of the construction industry in Poland:
* Historical (2008-2012) and forecast (2013-2017) valuations of the construction market in Poland using the 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
* Assessment of the competitive environment using Porter's Five Forces
* Detailed profiles of the leading construction companies in Poland
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Companies Mentioned in this Report: Polimex-Mostostal SA, Budimex SA, Mostostal Warszawa SA, Trakcja SA, Mostostal Zabrze Holding SA
Timetric is an independent economic and business research firm providing critical intelligence on emerging economies and key global industries. They provide detailed economic and sector intelligence, business insights and authoritative, independent commentary. View more research from Timetric at www.fastmr.com/catalog/publishers.aspx?pubid=1037
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