Table of Contents
In real terms, the Finnish construction industry’s output value contracted from 2010 to 2014. This decline was mainly due to depressed economic conditions, a high unemployment rate and reduced government spending. Growth prospects will be limited over the forecast period (2015–2019), due to the weak property market, subdued public spending and lack of investor confidence.
However, increasing investments in residential construction, transport infrastructure and the tourism industry, along with rising house prices, will support construction activity in the country.
Timetric’s Construction in Finland – Key Trends and Opportunities to 2019 report provides detailed market analysis, information and insights into the Finnish construction industry including:
- The Finnish 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 Finland
- Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in the Finnish construction industry
- Analyzing the profiles of the leading operators in the Finnish construction industry.
- Data highlights of the largest construction projects in Finland
This report provides a comprehensive analysis of the construction industry in Finland. It provides:
- Historical (2010-2014) and forecast (2015-2019) valuations of the construction industry in Finland 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 Finland
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 business strategies using Timetric's critical and actionable insight
- Assess business risks, including cost, regulatory and competitive pressures
- Evaluate competitive risk and success factors
- In terms of building permits, there has been clear evidence of expansion in residential and non-residential construction in 2014 and the first half of 2015. According to Statistics Finland, building permits issued in the country grew by 8.1% in 2014. This was preceded by annual contractions of 18.7% and 7.6% in 2013 and 2012 respectively. Moreover, new building permits in the country grew by 10.0% in the first half of 2015.
- In a bid to maintain a balance between supply and demand, the private and public sectors are focusing more on residential construction. In March 2015, SRV, one of the biggest construction companies in Finland, announced plans to construct six residential towers, with 1,200 housing units in Helsinki. The whole project is divided into two phases. The company is planning to construct two residential towers in the first phase. The project is expected to begin in 2016, and is anticipated to complete the first tower by 2018 and the second one by 2019.
- According to the Ministry of Employment and the Economy, the country’s tourism industry is growing more quickly than other industries in the country. In January 2015, the government introduced the ‘Achieving More Together’ strategy for 2015–2025, for the growth and renewal of the Finnish tourism industry. The main aim is to focus on strengthening tourism centers and networks of tourism-related companies in the country. This will help to support growth in the leisure and hospitality buildings category over the forecast period.
- With robust and modern transport infrastructure being vital for economic growth and competitiveness, the government is focusing on transport development. In 2014, a joint venture between Finland and Norway announced a railway line project, which will connect the Finnish city of Rovaniemi with the Norwegian town of Kirkenes on the Barents Sea coast. Over the forecast period, the infrastructure construction market is also expected to be supported by the government’s 2015 budget allocation for infrastructure development projects.
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