Construction in New Zealand H1 2021: Recovery in 2021 with Construction Sector Forecast to Grow by 5.5% Post COVID-19 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Construction in New Zealand - Key Trends and Opportunities to 2025 (H1 2021)" report has been added to ResearchAndMarkets.com's offering.

New Zealand's construction industry recorded an annual average growth rate of 6.6% between 2016-2019. Following the outbreak of the COVID-19 pandemic, however, the industry contracted by 7.3% in real terms in 2020. The lockdown restrictions imposed by the government in the first half of the year and the resultant economic uncertainty and weakness severely impacted activity in the industry. The downturn was further exacerbated by delays in project implementation and the re-allocation of part of the government's budget towards its management of the COVID-19 pandemic.

The construction industry is expected to recover in 2021, growing by 5.5% in real terms. To support both the wider economy and the construction industry, the government announced plans to fund large shovel-ready infrastructure projects in March 2020. Accordingly, in early April 2020, the government announced the formation of the Infrastructure Industry Reference Group (IIRG), comprising a group of industry leaders, and tasked them with identifying public, as well as private sector shovel-ready infrastructure projects with a value of NZD10 million (US$5.8 million) or above. As of the end of January 2021, the government has approved projects worth NZD4.7 billion (US$2.7 billion) for the IIRG.

The industry is expected to register an average annual growth of 3.5% between 2022 and 2025, supported by investments in residential, transport, institutional and renewable energy projects. As part of the COVID-19 Response and Recovery Fund (CRRF), in May 2020 the government allocated NZD3 billion (US$1.7 billion) to fund infrastructure projects across the country. In addition, growth will also be supported by an investment of NZD12 billion (US$7 billion) to build and upgrade road, rail, school and hospital projects under the New Zealand Upgrade Programme.

This report provides detailed market analysis, information, and insights into New Zealand's construction industry, including:

• New Zealand's 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 New Zealand's 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 New Zealand. It provides:

• Historical (2016-2020) and forecast (2021-2025) valuations of the construction industry in New Zealand, 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

   

Key Topics Covered:

1. Executive Summary

2. Construction Industry: At-a-Glance

3. Context

3.1 Economic Performance

3.2 Political Environment and Policy

3.3 Demographics

3.4 COVID-19 Status

4. Construction Outlook

5. Key Industry Participants

5.1 Contractors

5.2 Consultants

6. Construction Market Data

For more information about this report visit https://www.researchandmarkets.com/r/jzrfsk

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