Following three years of contraction, the Swedish construction industry recovered in 2014, and registered a growth rate of 12.1% in real terms. The recovery continued through 2015, and is expected to remain in place over the forecast period (2016–2020), with investments in infrastructure construction, healthcare, manufacturing, educational facilities and housing projects continuing to drive growth. Economic recovery will also be a driver, and should increase the demand for residential and commercial buildings.
The government’s focus to develop the country’s infrastructure under the National Reform Program 2016 is also expected to drive forecast period growth. Under this program, the government introduced the Active Industrial Policy, the Long-Term Energy Policy, the Investment to Build Sweden Plan, and a policy of knowledge-based education for all.
Under the Active Industrial Policy, the government aims to reduce unemployment, strengthen Swedish competitiveness in the manufacturing sector, and increase exports by attracting foreign manufacturing companies.
Timetric’s Construction in Sweden – Key Trends and Opportunities to 2020 report provides detailed market analysis, information and insights into the Swedish construction industry including:
• The Swedish construction industry’s growth prospects by market, project type and construction activity
• Analysis of equipment, material and service costs for each project type in Sweden
• Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in the Swedish construction industry
• Profiles of the leading operators in the Swedish construction industry
• Data highlights of the largest construction projects in Sweden
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Under the Long-Term Energy policy, the government will focus on the development of renewable energy infrastructure, with the aim of becoming 100% fossil fuel free by 2040. The government is also planning to invest SEK8.3 billion (US$987.4 million) into a knowledge-based education plan to develop educational infrastructure and facilities.
In real terms, the industry’s output value is forecast to rise at a compound annual growth rate (CAGR) of 3.67% over the forecast period; up from -0.05% during the review period (2011–2015).
This report provides a comprehensive analysis of the construction industry in Sweden. It provides:
• Historical (2011-2015) and forecast (2016-2020) valuations of the construction industry in Sweden 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 Sweden
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• 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.
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• Real estate property prices are expected to remain buoyant over the forecast period, due to the increasing demand for residential and non-residential buildings. According to the Statistiska centralbyrån (SCB), the real estate property price index at 1981 base prices rose by 11.1%, going from 700.5 in 2014 to 778.5 in 2015. The residential property price index grew by 10.8% over the same period, going from 590.3 to 654.0.
• According to the SCB, the total number of permits issued for the construction of residential buildings increased by 17.4%, going from 7,175 units in 2014 to 8,422 units in 2015. This was preceded by an annual growth of 28.6% in 2014 and 10.9% in 2013. They rose by 0.3% during the first half of 2016, going from 4,352 in January–June 2015 to 4,357 in January–June 2016.
• Sweden is facing a housing shortage. Consequently, in its 2016 budget, the government announced plans to provide financial support and build 250,000 houses by 2020. It also announced aid for municipal authorities, housing for the elderly and more student accommodation schemes. This is expected to drive the growth of the residential construction market.
• The infrastructure construction market is expected to benefit from the National Transport Plan 2014–2025. Through this, the government is planning to spend SEK674.0 billion (US$80.0 billion) on transport infrastructure by 2025.
• With the aim of becoming the world’s first fossil fuel free nation, the government is planning to produce 100% of the country’s energy from renewable sources by 2040. Accordingly, it plans to increase electricity production from 17.5TWh in 2015 to 28.4TWh by 2020.
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