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Construction in Belgium - Key Trends and Opportunities to 2024

August 2020 | 48 pages | ID: CB47EA99A41EN
GlobalData

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Construction in Belgium - Key Trends and Opportunities to 2024

SUMMARY

Prior to the COVID-19 outbreak, GlobalData expected Belgium’s construction industry to grow by 3.1% in 2020. However, with the emergence of the pandemic and the stringent measures taken by the government to contain the spread of the virus, the construction industry is now set to contract by 4.5% in 2020. Furthermore, downward revisions are likely if activity in the short term is more severely disrupted than currently anticipated.
According to the National Bank of Belgium (NBB), the country’s construction industry contracted by 2.6% year-on-year (y-o-y) in the first quarter of 2020, and the construction industry is expected to have contracted further in the second quarter, reflecting the lockdown measures imposed throughout April and May 2020.
Construction activities in the country were disrupted, as construction companies closed sites in response to the pandemic. Since April 2020, however, work has resumed on many projects, including the renovation of the L?opold II tunnel. In May 2020, the Flemish ministry of Mobility and Public Works announced plans to invest EUR2.2 billion (US$2.5 billion) on 924 minor and major projects this year. The government expects that investments on these projects will help in boosting the road and hydraulic engineering sector, thereby contributing to the overall economy. Thus, over the remaining part of the forecast-period (2021-2024), GlobalData expects industry output to register an average annual growth of 2.7%
This report provides detailed market analysis, information and insights into Belgium’s construction industry, including -
  • Belgium’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 Belgium’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 Belgium. It provides -
  • Historical (2015-2019) and forecast (2020-2024) valuations of the construction industry in Belgium, 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.
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

4.1. All Construction
  4.1.1. Outlook
  4.1.2. Latest news and developments
  4.1.3. Construction Projects Momentum Index
4.2. Commercial Construction
  4.2.1. Outlook
  4.2.2. Project analytics
  4.2.3. Latest news and developments
4.3. Industrial Construction
  4.3.1. Outlook
  4.3.2. Project analytics
  4.3.3. Latest news and developments
4.4. Infrastructure Construction
  4.4.1. Outlook
  4.4.2. Project analytics
  4.4.3. Latest news and developments
4.5. Energy and Utilities Construction
  4.5.1. Outlook
  4.5.2. Project analytics
  4.5.3. Latest news and developments
4.6. Institutional Construction
  4.6.1. Outlook
  4.6.2. Project analytics
  4.6.3. Latest news and developments
4.7. Residential Construction
  4.7.1. Outlook
  4.7.2. Project analytics
  4.7.3. Latest news and developments

5 KEY INDUSTRY PARTICIPANTS

5.1. Contractors
5.2. Consultants

6 CONSTRUCTION MARKET DATA

7 APPENDIX

7.1. What is this Report About?
7.2. Definitions

8 ABOUT GLOBALDATA

8.1. GlobalData Construction
8.2. Disclaimer
8.3. Contact Us

LIST OF TABLES

Table 1: Construction Industry Key Data
Table 2: Belgium, Key Economic Indicators
Table 3: Belgium, Commercial Construction Output by Project Type (real % change), 2015-2024
Table 4: Belgium, Top Commercial Construction Projects by Value
Table 5: Belgium, Industrial Construction Output by Project Type (real % change), 2015-2024
Table 6: Belgium, Top Industrial Construction Projects by Value
Table 7: Belgium, Infrastructure Construction Output by Project Type (real % change), 2015-2024
Table 8: Belgium, Top Infrastructure Construction Projects by Value
Table 9: Belgium, Energy and Utilities Construction Output by Project Type (real % change), 2015-2024
Table 10: Belgium, Top Energy and Utilities Construction Projects by Value
Table 11: Belgium, Institutional Construction Output by Project Type (real % change), 2015-2024
Table 12: Belgium, Top Institutional Construction Projects by Value
Table 13: Belgium, Residential Construction Output by Project Type (real % change), 2015-2024
Table 14: Belgium, Top Residential and Mixed-Use Construction Projects by Value
Table 15: Belgium, Key Contractors
Table 16: Belgium, Key Consultants
Table 17: Belgium, Construction Output Value (Real, US$ Million)
Table 18: Belgium, Construction Output Value (Nominal, EUR Million)
Table 19: GlobalData Construction Market Definitions
Table 20: Construction Risk Index Ratings and Scores

The Belgium construction industry is expected to record a CAGR of 2% by 2018.

Growth Matrix for Construction Output in Belgium (%), 2009-2018
Growth Matrix for Construction Output in Belgium (%), 2009-2018 

Timetric’s Construction in Belgium key trends and opportunities – Research Report identifies that the construction industry in Belgium is expected to value just under US$110 billion by 2018. By purchasing this report you will secure a proper understanding of trends and market opportunities in the construction industry in Belgium, which will enable you to amend your business plans accordingly to allow maximum sales. You will gain an understanding of the key factors driving the construction industry in Belgium, enabling you to identify the growth opportunities and market dynamics.

Additional report highlights:

  • Following this stability in the economy, the occupancy rate for hotels is anticipated to remain stable in 2014, and to increase at a marginal rate over the forecast period, supporting the completion of certain projects in the pipeline. The leisure and hospitality buildings construction category is therefore expected to progress at a slow pace, and value just over US$1 billion by 2018.
  • Despite subdued economic forecasts and the Eurozone crisis, the Belgian retail sector recorded a 1.4% increase in its retail sales index in the Europe as well as a 2.0% increase in the EU28 in November 2013, and on an annual basis. The category is expected to record a CAGR of just under 3% over the forecast period, valuing just under US$7 billion by 2018. This category’s growth over the forecast period will be supported by an increase in retail sales and improvement in business confidence. 


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