Construction in Norway - Key Trends and Opportunities to 2021

Published: Nov, 2017 | Pages: 88 | Publisher: Timetric
Industry: Construction | Report Format: Electronic (PDF)

Synopsis

The Norwegian construction industry grew by 4.2% in real terms in 2016, following an annual growth of 2.9% in 2015 and 2.5% in 2014. This growth can be attributed to the recovery in global economic conditions coupled with government spending on residential, infrastructure and commercial construction markets, as well as positive developments in domestic and regional economic conditions.

The industry's value is expected to continue to grow over the forecast period (2017-2021), with investments in public infrastructure, energy, commercial and industrial construction projects, and improved consumer and investor confidence. A rise in permits for the construction of residential and non-residential buildings in the country is also expected to support the industry's growth over the forecast period.

Under the National Transport Plan (NTP) 2018-2029, the government plans to invest NOK59.7 billion (US$7.1 billion) annually to develop road, rail and other transport infrastructure until 2029. Accordingly, the government plans to invest NOK1.7 trillion (US$202.7 billion) in the construction and maintenance of road infrastructure by 2029. To develop rail infrastructure, the government plans to invest NOK1.0 trillion (US$119.4 billion) by 2029.

The industry's output value in real terms is expected to record a compound annual growth rate (CAGR) of 2.91% over the forecast period - up from 2.79% during the review period.

Summary

Timetric's Construction in Norway - Key Trends and Opportunities to 2021 report provides detailed market analysis, information and insights into the Norwegian construction industry, including:

• The Norwegian construction industry's growth prospects by market, project type and construction activity

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

• Profiles of the leading operators in the Norwegian construction industry

Scope

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

• Historical (2012-2016) and forecast (2017-2021) valuations of the construction industry in Norway using construction output and value-add methods

• Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector

• 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)

• Detailed profiles of the leading construction companies in Norway

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

• Timetric expects the residential construction market to remain the largest segment, accounting for 43.7% of the industry's total value in 2021. Growth over the forecast period is expected to be supported by rising residential building permits and the government's efforts to reduce housing shortage. In addition, urbanization, population growth, affordable housing projects and positive developments in regional economic conditions are expected to support the demand for residential properties over the forecast period.

• With robust and modern infrastructure vital for economic growth and competitiveness, the Norwegian government is focusing on infrastructure development. Under the NTP 2018-2029, the Norwegian government plans to develop 1,280km of new trunk roads and 380km of four-lane motorways with an investment of NOK311.6 billion (US$53.0 billion) by 2023.

• The commercial construction market is expected to be supported by the government's plan to increase tourist arrivals in the country. Under the Strategy 2014-2020, the government plans to develop a web based tool box to enable development in the tourism sector, establish a connection within tour operators and travelers, and develop tourism sites in the country.

• The government's plan to provide a high-speed internet connection and mobile network to all citizens by 2020 is expected to drive the growth of the energy and utilities construction market over the forecast period. Under the Digital Agenda for Norway, the government is planning to equip 90% of households with an internet connection speed of 100Mbps by 2020.

• Timetric expects institutional construction market to register a forecast-period CAGR of 3.24% in nominal terms, driven by the government's focus on educational infrastructure. In the 2017 Budget, the government announced a plan to invest NOK10.1 billion (US$1.2 billion) to build new 110 new free schools across the country by 2020.

 Table of Contents

1 Executive Summary
2 Industry Outlook
2.1 Commercial Construction
2.2 Industrial Construction
2.3 Infrastructure Construction
2.4 Energy and Utilities Construction
2.5 Institutional Construction
2.6 Residential Construction
3 Key Issues and Developments
4 Market Data Analysis
4.1 Construction Output and Value Add
4.1.1 Construction output by project type
4.1.2 Construction output by cost type
4.1.3 Construction output by activity type
4.1.4 Construction value add by project type
4.2 Commercial Construction
4.2.1 Commercial construction output by project type
4.2.2 Commercial construction output by cost type
4.2.3 Commercial construction output by activity type
4.2.4 Commercial construction value add by project type
4.3 Industrial Construction
4.3.1 Industrial construction output by project type
4.3.2 Industrial construction output by cost type
4.3.3 Industrial construction output by activity type
4.3.4 Industrial construction value add by project type
4.4 Infrastructure Construction
4.4.1 Infrastructure construction output by project type
4.4.2 Infrastructure construction output by cost type
4.4.3 Infrastructure construction output by activity type
4.4.4 Infrastructure construction value add by project type
4.5 Energy and Utilities Construction
4.5.1 Energy and utilities construction output by project type
4.5.2 Energy and utilities construction output by cost type
4.5.3 Energy and utilities construction output by activity type
4.5.4 Energy and utilities construction value add by project type
4.6 Institutional Construction
4.6.1 Institutional construction output by project type
4.6.2 Institutional construction output by cost type
4.6.3 Institutional construction output by activity type
4.6.4 Institutional construction value add by project type
4.7 Residential Construction
4.7.1 Residential construction output by project type
4.7.2 Residential construction output by cost type
4.7.3 Residential construction output by activity type
4.7.4 Residential construction value add by project type
5 Company Profile: Veidekke ASA
5.1 Veidekke ASA - Company Overview
5.2 Veidekke ASA - Business Description
5.3 Veidekke ASA - Main Products and Services
5.4 Veidekke ASA - History
5.5 Veidekke ASA - Company Information
5.5.1 Veidekke ASA - key competitors
5.5.2 Veidekke ASA - key employees
6 Company Profile: AF Gruppen ASA
6.1 AF Gruppen ASA - Company Overview
6.2 AF Gruppen ASA - Business Description
6.3 AF Gruppen ASA - Main Services
6.4 AF Gruppen ASA - History
6.5 AF Gruppen ASA - Company Information
6.5.1 AF Gruppen ASA - key competitors
6.5.2 AF Gruppen ASA - key employees
7 Company Profile: Norconsult Holding AS
7.1 Norconsult Holding AS - Company Overview
7.2 Norconsult Holding AS - Business Description
7.3 Norconsult Holding AS - Main Services
7.4 Norconsult Holding AS - History
7.5 Norconsult Holding AS - Company Information
7.5.1 Norconsult Holding AS - key competitors
7.5.2 Norconsult Holding AS - key employees
8 Company Profile: Vestfold Fjellboring AS
8.1 Vestfold Fjellboring AS - Company Overview
8.2 Vestfold Fjellboring AS - Main Products and Services
8.3 Vestfold Fjellboring AS - History
8.4 Vestfold Fjellboring AS - Company Information
8.4.1 Vestfold Fjellboring AS - key competitors
8.4.2 Vestfold Fjellboring AS - key employees
9 Company Profile: Selvaag Gruppen AS
9.1 Selvaag Gruppen AS - Company Overview
9.2 Selvaag Gruppen AS - Main Services
9.3 Selvaag Gruppen AS - History
9.4 Selvaag Gruppen AS - Company Information
9.4.1 Selvaag Gruppen AS - key competitors
9.4.2 Selvaag Gruppen AS - key employees
10 Appendix
10.1 What is this Report About?
10.2 Definitions
10.3 Methodology
10.4 Contact Timetric
10.5 About Timetric
10.6 Timetric's Services
10.7 Disclaimer

List of Tables

Table 1: Norwegian Construction Output by Project Type (NOK Million), 2012-2016
Table 2: Norwegian Construction Output by Project Type (NOK Million), 2016-2021
Table 3: Norwegian Construction Output by Cost Type (NOK Million), 2012-2016
Table 4: Norwegian Construction Output by Cost Type (NOK Million), 2016-2021
Table 5: Norwegian Construction Output by Activity Type (NOK Million), 2012-2016
Table 6: Norwegian Construction Output by Activity Type (NOK Million), 2016-2021
Table 7: Norwegian Construction Value Add by Project Type (NOK Million), 2012-2016
Table 8: Norwegian Construction Value Add by Project Type (NOK Million), 2016-2021
Table 9: Norwegian Commercial Construction Output by Project Type (NOK Million), 2012-2016
Table 10: Norwegian Commercial Construction Output by Project Type (NOK Million), 2016-  2021
Table 11: Norwegian Commercial Construction Output by Cost Type (NOK Million), 2012-  2016
Table 12: Norwegian Commercial Construction Output by Cost Type (NOK Million), 2016-  2021
Table 13: Norwegian Commercial Construction Output by Activity Type (NOK Million), 2012-  2016
Table 14: Norwegian Commercial Construction Output by Activity Type (NOK Million), 2016-  2021
Table 15: Norwegian Commercial Construction Value Add by Project Type (NOK Million),   2012-2016
Table 16: Norwegian Commercial Construction Value Add by Project Type (NOK Million),   2016-2021
Table 17: Norwegian Industrial Construction Output by Project Type (NOK Million), 2012-  2016
Table 18: Norwegian Industrial Construction Output by Project Type (NOK Million), 2016-  2021
Table 19: Norwegian Industrial Construction Output by Cost Type (NOK Million), 2012-2016
Table 20: Norwegian Industrial Construction Output by Cost Type (NOK Million), 2016-2021
Table 21: Norwegian Industrial Construction Output by Activity Type (NOK Million), 2012-  2016
Table 22: Norwegian Industrial Construction Output by Activity Type (NOK Million), 2016-  2021
Table 23: Norwegian Industrial Construction Value Add by Project Type (NOK Million), 2012-  2016
Table 24: Norwegian Industrial Construction Value Add by Project Type (NOK Million), 2016-  2021
Table 25: Norwegian Infrastructure Construction Output by Project Type (NOK Million),   2012-2016
Table 26: Norwegian Infrastructure Construction Output by Project Type (NOK Million),   2016-2021
Table 27: Norwegian Infrastructure Construction Output by Cost Type (NOK Million), 2012-  2016
Table 28: Norwegian Infrastructure Construction Output by Cost Type (NOK Million), 2016-  2021
Table 29: Norwegian Infrastructure Construction Output by Activity Type (NOK Million),   2012-2016
Table 30: Norwegian Infrastructure Construction Output by Activity Type (NOK Million),   2016-2021
Table 31: Norwegian Infrastructure Construction Value Add by Project Type (NOK Million),   2012-2016
Table 32: Norwegian Infrastructure Construction Value Add by Project Type (NOK Million),   2016-2021
Table 33: Norwegian Energy and Utilities Construction Output by Project Type (NOK Million),   2012-2016
Table 34: Norwegian Energy and Utilities Construction Output by Project Type (NOK Million),   2016-2021
Table 35: Norwegian Energy and Utilities Construction Output by Cost Type (NOK Million),   2012-2016
Table 36: Norwegian Energy and Utilities Construction Output by Cost Type (NOK Million),   2016-2021
Table 37: Norwegian Energy and Utilities Construction Output by Activity Type (NOK Million),   2012-2016
Table 38: Norwegian Energy and Utilities Construction Output by Activity Type (NOK Million),   2016-2021
Table 39: Norwegian Energy and Utilities Construction Value Add by Project Type (NOK   Million), 2012-2016
Table 40: Norwegian Energy and Utilities Construction Value Add by Project Type (NOK   Million), 2016-2021
Table 41: Norwegian Institutional Construction Output by Project Type (NOK Million), 2012-  2016
Table 42: Norwegian Institutional Construction Output by Project Type (NOK Million), 2016-  2021
Table 43: Norwegian Institutional Construction Output by Cost Type (NOK Million), 2012-  2016
Table 44: Norwegian Institutional Construction Output by Cost Type (NOK Million), 2016-  2021
Table 45: Norwegian Institutional Construction Output by Activity Type (NOK Million), 2012-  2016
Table 46: Norwegian Institutional Construction Output by Activity Type (NOK Million), 2016-  2021
Table 47: Norwegian Institutional Construction Value Add by Project Type (NOK Million),   2012-2016
Table 48: Norwegian Institutional Construction Value Add by Project Type (NOK Million),   2016-2021
Table 49: Norwegian Residential Construction Output by Project Type (NOK Million), 2012-  2016
Table 50: Norwegian Residential Construction Output by Project Type (NOK Million), 2016-  2021
Table 51: Norwegian Residential Construction Output by Cost Type (NOK Million), 2012-2016
Table 52: Norwegian Residential Construction Output by Cost Type (NOK Million), 2016-2021
Table 53: Norwegian Residential Construction Output by Activity Type (NOK Million), 2012-  2016
Table 54: Norwegian Residential Construction Output by Activity Type (NOK Million), 2016-  2021
Table 55: Norwegian Residential Construction Value Add by Project Type (NOK Million),   2012-2016
Table 56: Norwegian Residential Construction Value Add by Project Type (NOK Million),   2016-2021
Table 57: Veidekke ASA, Key Facts
Table 58: Veidekke ASA, Main Products and Services
Table 59: Veidekke ASA, History
Table 60: Veidekke ASA, Key Employees
Table 61: AF Gruppen ASA, Key Facts
Table 62: AF Gruppen ASA, Main Services
Table 63: AF Gruppen ASA, History
Table 64: AF Gruppen ASA, Key Employees
Table 65: Norconsult Holding AS, Key Facts
Table 66: Norconsult Holding AS, Main Services
Table 67: Norconsult Holding AS, History
Table 68: Norconsult Holding AS, Key Employees
Table 69: Vestfold Fjellboring AS, Key Facts
Table 70: Vestfold Fjellboring AS, Main Products and Services
Table 71: Vestfold Fjellboring AS, History
Table 72: Vestfold Fjellboring AS, Key Employees
Table 73: Selvaag Gruppen AS, Key Facts
Table 74: Selvaag Gruppen AS, Main Services
Table 75: Selvaag Gruppen AS, History
Table 76: Selvaag Gruppen AS, Key Employees
Table 77: Timetric Construction Market Definitions