Construction in Belgium - Key Trends and Opportunities to 2018

Published: Jun, 2014 | Pages: 74 | Publisher: Timetric
Industry: Construction | Report Format: Electronic (PDF)


Synopsis
This report provides detailed market analysis, information and insights into the Belgian construction industry including:
The Belgian 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 Belgium
Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in the Belgian construction industry
Analyzing the profiles of the leading operators in the Belgian construction industry.
Data highlights of the largest construction projects in Belgium 

Summary
The Belgian construction industry recorded a review-period (2009?2013) compound annual growth rate (CAGR) of 3.97%. As a result of the eurozone crisis, the industry declined by 0.3% in 2009, and by 0.1% in 2013. This, along with falling employment and low wage growth, led to steady falls in domestic economic activity and demand for new construction projects. Construction industry growth is expected to recover over the forecast period (2013-2018), driven by government initiatives to improve public infrastructure, moderate household debt, and rising interest of domestic and foreign developers in constructing residential units to meet housing demand. Consequently, the industry is expected to grow at a moderate forecast-period CAGR of 2.0%. 
Scope
This report provides a comprehensive analysis of the construction industry in Belgium. It provides:
Historical (2009-2013) and forecast (2014-2018) valuations of the construction industry in Belgium using 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
Detailed profiles of the leading construction companies in Belgium 
Reason To Buy
 Identify and evaluate market opportunities using our 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 
Key Highlights
 The Belgian construction industry is undergoing a testing period as a result of subdued economic activity. The industry recorded negative growth of 0.1% (nominal terms) in 2013, the first time since 2009. The construction production index fell by 0.3% during the first quarter of 2013, although there was marginal growth in the second and third quarters, with the production index growing by 0.1% and 0.6% respectively. The industry is set to grow further, both in 2014 and over the forecast period, due to improved economic conditions, low interest rates and increased investment.  
In nominal terms, the total construction value add in Belgium was EUR19.4 billion (US$25.8 billion) in 2013, after registering a nominal CAGR of 2.35% during the review period. The value add is anticipated to reach EUR21.9 billion (US$30.9 billion) in 2018, and record a nominal forecast-period CAGR of 1.50% over, driven by increases in residential and infrastructure construction activity and government measures to enhance the country's real estate and transport networks. 
The European Investment Bank (EIB), the EU's non-profit long-term lending institution, has announced plans to invest in projects to create both job opportunities and financing solutions, as well as to increase partnerships among public and private firms. In 2013, the EIB allocated EUR1.5 billion (US$2.6 billion), of which 19.0% was for the energy sector, 8.0% for the transport sector, 24.0% for water and sewage, 11.0% for the industrial and agricultural sectors, 15.0% for the education and healthcare sectors, and 23.0% for other small- and medium-scale projects. This is thus likely to support construction activity growth in these areas. 
A growing number of small- and medium-sized Belgian businesses are filing for bankruptcy as a result of rising staff costs and excessive taxation. According to Statistics Belgium, the number of bankrupt businesses in the country in the second half of 2013 rose to 6,006, a 4.5% rise compared to the second half of 2012. On account of the huge costs involved, only large-scale businesses were able to survive, while small companies and independent traders were affected the most in this difficult situation. During the same period, the number of failed businesses rose by 10.3% in the construction industry, by 2.3% in the commerce industry, by 9.5% in the hotel and catering industry, by 5.0% in the transportation industry, and by 3.7% in the industrial sector. This situation was worst in the Brussels region, where the number of bankruptcies rose by 33.0% in 2013.  
According to the Global Property Guide Belgium, residential property prices in the country rose by 0.3% in 2013, after increases of 1.1% in 2012 and 3.5% in 2011. There have been varying trends in property prices in different categories, however with the largest increase in prices recorded in the multi-family housing category, as apartment prices in the country increased by 0.9%. At the same time, the single-family housing category posted a decline in prices, as prices of bungalows and villas decreased by 0.9%. Furthermore, there has been variation in the property prices in regions, if adjusted for inflation; house prices rose in the Flemish region by 3.4% and in the Walloon region by 1.9%, although in Brussels, prices dropped by 1.2%.

 1 Executive Summary
2 Market Overview
2.1 Key Trends and Issues
2.2 Benchmarking by Market Size and Growth
3 Commercial Construction
3.1 Performance Outlook
3.2 Key Trends and Issues
3.3 Data and Project Highlights
4 Industrial Construction
4.1 Performance Outlook
4.2 Key Trends and Issues
4.3 Data and Project Highlights
5 Infrastructure Construction
5.1 Performance Outlook
5.2 Key Trends and Issues
5.3 Data and Project Highlights
6 Institutiol Construction
6.1 Performance Outlook
6.2 Key Trends and Issues
6.3 Data and Project Highlights
7 Residential Construction
7.1 Performance Outlook
7.2 Key Trends and Issues
7.3 Data and Project Highlights
8 Company Profile: Compagnie d'Entreprises CFE SA
8.1 Compagnie d'Entreprises CFE SA - Company Overview
8.2 Compagnie d'Entreprises CFE SA - Business Description
8.3 Compagnie d'Entreprises CFE SA - Main Services
8.4 Compagnie d'Entreprises CFE SA - History
8.5 Compagnie d'Entreprises CFE SA - Company Information
8.5.1 Compagnie d'Entreprises CFE SA - key competitors
8.5.2 Compagnie d'Entreprises CFE SA - key employees
9 Company Profile: Besix Group SA
9.1 Besix Group SA - Company Overview
9.2 Besix Group SA - Business Description
9.3 Besix Group SA - Main Services
9.4 Besix Group SA - History
9.5 Besix Group SA - Company Information
9.5.1 Besix Group SA - key competitors
9.5.2 Besix Group SA - key employees
10 Company Profile: Denys NV
10.1 Denys NV - Company Overview
10.2 Denys NV - Main Services
10.3 Denys NV - Company Information
10.3.1 Denys NV - key competitors
10.3.2 Denys NV - key employees
11 Company Profile: De Smet Engineers & Contractors SA
11.1 De Smet Engineers & Contractors SA - Company Overview
11.2 De Smet Engineers & Contractors SA - Main Services
11.3 De Smet Engineers & Contractors SA - Company Information
11.3.1 De Smet Engineers & Contractors SA - key competitors
11.3.2 De Smet Engineers & Contractors SA - key employee
12 Company Profile: Cofinimmo SA/NV
12.1 Cofinimmo SA/NV - Company Overview
12.2 Cofinimmo SA/NV - Business Description
12.3 Cofinimmo SA/NV - Main Services
12.4 Cofinimmo SA/NV - History
12.5 Cofinimmo SA/NV - Company Information
12.5.1 Cofinimmo SA/NV - key competitors
12.5.2 Cofinimmo SA/NV - key employees
13 Market Data Alysis
13.1 Construction Output and Value Add
13.1.1 Construction output by project type
13.1.2 Construction output by cost type
13.1.3 Construction output by activity type
13.1.4 Construction value add by project type
13.2 Commercial Construction
13.2.1 Commercial construction output by project type
13.2.2 Commercial construction output by cost type
13.2.3 Commercial construction output by activity type
13.2.4 Commercial construction value add by project type
13.3 Industrial Construction
13.3.1 Industrial construction output by project type
13.3.2 Industrial construction output by cost type
13.3.3 Industrial construction output by activity type
13.3.4 Industrial construction value add by project type
13.4 Infrastructure Construction
13.4.1 Infrastructure construction output by project type
13.4.2 Infrastructure construction output by cost type
13.4.3 Infrastructure construction output by activity type
13.4.4 Infrastructure construction value add by project type
13.5 Institutiol Construction
13.5.1 Institutiol construction output by project type
13.5.2 Institutiol construction output by cost type
13.5.3 Institutiol construction output by activity type
13.5.4 Institutiol construction value add by project type
13.6 Residential Construction
13.6.1 Residential construction output by project type
13.6.2 Residential construction output by cost type
13.6.3 Residential construction output by activity type
13.6.4 Residential construction value add by project type
14 Appendix
14.1 What is this Report About?
14.2 Definitions
14.3 Summary Methodology
14.4 Methodology
14.5 Contact Timetric
14.6 About Timetric
14.7 Timetric's Services
14.8 Disclaimer


List of Tables
Table 1: Benchmarking with Other Major Construction Industries
Table 2: Commercial Construction Project 1 - TO - Brussels TO Headquarters Building - Bruxelles Capitale
Table 3: Commercial Construction Project 2 - Banimmo - Ghent Retail-Leisure Complex - East Flanders
Table 4: Commercial Construction Project 3 - Foruminvest - Au Fil de l'Eau Shopping Center - Verviers
Table 5: Industrial Construction Project 1 - Audi - Forest Audi Production Plant Expansion - Belgium
Table 6: Industrial Construction Project 2 - Pfizer - Puurs Pharmaceutical Plant - Flanders
Table 7: Industrial Construction Project 3 - Mithra - Flemalle Pharmaceutical Plant Development - Belgium
Table 8: Infrastructure Construction Project 1 - GoF - Oosterweel Link Development - Antwerp
Table 9: Infrastructure Construction Project 2 - Infrabel - Gewestelijk Regiol Railway Express Network - Bruxelles Capitale
Table 10: Infrastructure Construction Project 3 - RBC - Schaerbeek Metro Line North Extension - Brussels-Capital
Table 11: Institutiol Construction Project 1 - RDB - Haren Prison Complex Development - Bruxelles-Capitale
Table 12: Institutiol Construction Project 2 - BBA/SPF Justice - Haren Prison - Belgium
Table 13: Institutiol Construction Project 3 - GHDC - Gilly Grand Hopital de Charleroi Development - Belgium
Table 14: Residential Construction Project 1 - CMSG - Mont Saint Guibert Residential Development - Walloon
Table 15: Residential Construction Project 2 - IBO/Investpro - Mechelsepoort Apartment Complex Development - Dendermonde
Table 16: Residential Construction Project 3 - Veldimmo - Waterloo Quartier du Faubourg Residences - Walloon
Table 17: Compagnie d'Entreprises CFE SA, Key Facts
Table 18: Compagnie d'Entreprises CFE SA, Main Services
Table 19: Compagnie d'Entreprises CFE SA, History
Table 20: Compagnie d'Entreprises CFE SA, Key Employees
Table 21: Besix Group SA, Key Facts
Table 22: Besix Group SA, Main Services
Table 23: Besix Group SA, History
Table 24: besix Group SA, Key Employees
Table 25: Denys NV, Key Facts
Table 26: Denys NV, Main Services
Table 27: Denys NV, Key Employees
Table 28: De Smet Engineers & Contractors SA, Key Facts
Table 29: De Smet Engineers & Contractors SA, Main Services
Table 30: De Smet Engineers & Contractors SA, Key Employee
Table 31: Cofinimmo SA/NV, Key Facts
Table 32: Cofinimmo SA/NV, Main Services
Table 33: Cofinimmo SA/NV - History
Table 34: Cofinimmo SA/NV, Key Employees
Table 35: Belgian Construction Output by Project Type (EUR Million), 2009-2013
Table 36: Belgian Construction Output by Project Type (EUR Million), 2013-2018
Table 37: Belgian Construction Output by Cost Type (EUR Million), 2009-2013
Table 38: Belgian Construction Output by Cost Type (EUR Million), 2013-2018
Table 39: Belgian Construction Output by Activity Type (EUR Million), 2009-2013
Table 40: Belgian Construction Output by Activity Type (EUR Million), 2013-2018
Table 41: Belgian Construction Value Add by Project Type (EUR Million), 2009-2013
Table 42: Belgian Construction Value Add by Project Type (EUR Million), 2013-2018
Table 43: Belgian Commercial Construction Output by Project Type (EUR Million), 2009-2013
Table 44: Belgian Commercial Construction Output by Project Type (EUR Million), 2013-2018
Table 45: Belgian Commercial Construction Output by Cost Type (EUR Million), 2009-2013
Table 46: Belgian Commercial Construction Output by Cost Type (EUR Million), 2013-2018
Table 47: Belgian Commercial Construction Output by Activity Type (EUR Million), 2009-2013
Table 48: Belgian Commercial Construction Output by Activity Type (EUR Million), 2013-2018
Table 49: Belgian Commercial Construction Value Add by Project Type (EUR Million), 2009-2013
Table 50: Belgian Commercial Construction Value Add by Project Type (EUR Million), 2013-2018
Table 51: Belgian Industrial Construction Output by Project Type (EUR Million), 2009-2013
Table 52: Belgian Industrial Construction Output by Project Type (EUR Million), 2013-2018
Table 53: Belgian Industrial Construction Output by Cost Type (EUR Million), 2009-2013
Table 54: Belgian Industrial Construction Output by Cost Type (EUR Million), 2013-2018
Table 55: Belgian Industrial Construction Output by Activity Type (EUR Million), 2009-2013
Table 56: Belgian Industrial Construction Output by Activity Type (EUR Million), 2013-2018
Table 57: Belgian Industrial Construction Value Add by Project Type (EUR Million), 2009-2013
Table 58: Belgian Industrial Construction Value Add by Project Type (EUR Million), 2013-2018
Table 59: Belgian Infrastructure Construction Output by Project Type (EUR Million), 2009-2013
Table 60: Belgian Infrastructure Construction Output by Project Type (EUR Million), 2013-2018
Table 61: Belgian Infrastructure Construction Output by Cost Type (EUR Million), 2009-2013
Table 62: Belgian Infrastructure Construction Output by Cost Type (EUR Million), 2013-2018
Table 63: Belgian Infrastructure Construction Output by Activity Type (EUR Million), 2009-2013
Table 64: Belgian Infrastructure Construction Output by Activity Type (EUR Million), 2013-2018
Table 65: Belgian Infrastructure Construction Value Add by Project Type (EUR Million), 2009-2013
Table 66: Belgian Infrastructure Construction Value Add by Project Type (EUR Million), 2013-2018
Table 67: Belgian Institutiol Construction Output by Project Type (EUR Million), 2009-2013
Table 68: Belgian Institutiol Construction Output by Project Type (EUR Million), 2013-2018
Table 69: Belgian Institutiol Construction Output by Cost Type (EUR Million), 2009-2013
Table 70: Belgian Institutiol Construction Output by Cost Type (EUR Million), 2013-2018
Table 71: Belgian Institutiol Construction Output by Activity Type (EUR Million), 2009-2013
Table 72: Belgian Institutiol Construction Output by Activity Type (EUR Million), 2013-2018
Table 73: Belgian Institutiol Construction Value Add by Project Type (EUR Million), 2009-2013
Table 74: Belgian Institutiol Construction Value Add by Project Type (EUR Million), 2013-2018
Table 75: Belgian Residential Construction Output by Project Type (EUR Million), 2009-2013
Table 76: Belgian Residential Construction Output by Project Type (EUR Million), 2013-2018
Table 77: Belgian Residential Construction Output by Cost Type (EUR Million), 2009-2013
Table 78: Belgian Residential Construction Output by Cost Type (EUR Million), 2013-2018
Table 79: Belgian Residential Construction Output by Activity Type (EUR Million), 2009-2013
Table 80: Belgian Residential Construction Output by Activity Type (EUR Million), 2013-2018
Table 81: Belgian Residential Construction Value Add by Project Type (EUR Million), 2009-2013
Table 82: Belgian Residential Construction Value Add by Project Type (EUR Million), 2013-2018
Table 83: Timetric Construction Market Definitions