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Construction in Russia - Key Trends and Opportunities to 2020

  • February 2016
  • -
  • Timetric
  • -
  • 75 pages

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Synopsis
Construction activity in Russia was weak in 2015, due to the deteriorating business environment, currency depreciation, Western sanctions, a lack of foreign capital investment and a decline in oil prices.

The industry is expected to contract further in 2016 in real terms, by close to 1%, before steadily regaining some growth momentum. Growth will also be supported by the Socio-Economic Development 2020 program, under which the government aims to develop the country’s road, housing, rail, airport and other related infrastructure.

The industry’s output value in real terms is expected to rise at a compound annual growth rate (CAGR) of 2.52% over the forecast period (2016–2020); up from -2.19% during the review period (2011–2015).

However, there are major downside risks associated with the outlook for the construction industry in Russia over the forecast period. Notably, a continuation of Western sanctions and low oil prices will greatly undermine growth prospects during the early part of the forecast period.

Summary
Timetric’s Construction in Russia – Key Trends and Opportunities to 2019 report provides detailed market analysis, information and insights into the Russian construction industry including:

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

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

- Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in the Russian construction industry

- Profiles of the leading operators in the Russian construction industry

- Data highlights of the largest construction projects in Russia

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

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

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 government’s focus on affordable housing is expected to drive the growth of residential construction market over the forecast period. The government is focusing on the construction of low-cost houses for the country’s low- and middle-income group through affordable housing projects such as Housing for 2016–2020 and Housing for Russian Family. Under the Housing for Russian Family program, the government aims to build 500,000 two-room apartments by 2018.

- Under the Development of Transport System of Russia (2010–2020) program, the government is planning to invest RUB11.6 trillion (US$364.4 billion) to develop the country’s road, rail, sea and inland-water transport infrastructure.

- The government is investing in the expansion of the country’s high-speed railways in order to improve the coverage, quality and competitiveness of infrastructure in the country. The government plans to construct 11,000km of high-speed railway lines to connect major cities in Russia, such as Moscow, St. Petersburg, Samara, Krasnodar and Novosibirsk through PPP by 2030.

- The institutional construction market is expected to benefit from the government’s efforts to provide quality education to children through the Development Education for 2013–2020 Program. According to the Ministry of Education and Science Federation, a sum of RUB6.7 trillion (US$210.1 billion) is expected to be spent on the construction of kindergartens, schools, universities and other educational institutes across the country, to ensure equal and modern education to all children.

- The leisure and hospitality buildings category is expected to benefit from rising tourist arrivals due to the depreciating ruble against the US dollar, coupled with the government’s efforts to attract tourists through marketing, and promoting offices in countries such as China, Brazil and India under the Visit Russia federal project. In addition, the 2018 Fifa World Cup will increase tourist arrivals.

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