DUBLIN–(BUSINESS WIRE)–The “New Zealand Construction Market Size, Trends and Forecasts by Sector – Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026” report has been added to ResearchAndMarkets.com’s offering.
New Zealand’s construction industry grew by an estimated 4.2% in real terms in 2021, following an annual decline of 5.4% in 2020
The New Zealand government enforced a nation-wide lockdown in August and September 2021, due to the outbreak of the Delta variant of Coronavirus (COVID-19). As a result, the country’s construction industry contracted by 11.1% year on year (YoY) in Q3 2021, preceded by Y-o-Y growth of 48.9% in Q2 and 9.9% in Q1 2021, according to Statistics New Zealand.
The publisher expects New Zealand’s construction industry to expand by 10.8% this year, supported by an improvement in economic conditions and government investment on infrastructure, energy and utilities and residential construction projects. Infrastructure growth will be supported by the NZD1.3 billion ($908.3 million) Rail Network Investment Programme (RNIP), which aims to improve the national rail network between 2021 and 2024.
Further supporting infrastructure growth will be the NZD33.8 billion ($24.3 billion) 2021-2024 National Land Transport Programme (NLTP), as well as investment on shovel-ready projects highlighted by the Infrastructure Reference Group. According to the Infrastructure Reference Group’s (IRG) Q3 2021 report, the IRG received submissions of 1,924 projects with an estimated expenditure of NZD189.1 billion ($136 billion), and shortlisted 234 projects that received NZD3.5 billion ($2.5 billion) of government funding.
In the energy sector, the development of Kowhai Park at Christchurch Airport will support the sector’s growth in the coming period. The first phase of the project will generate 150MW of electricity, sufficient to power 30,000 homes, at an investment of NZD139 million ($100 million), funded by the Australian renewable energy fund Solar Bay. The residential sector’s output is expected to be strong in 2022, with leading indicators such as dwelling permits rising considerably in 2021.
Scope
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
3.5 Risk Profile
4 Construction Outlook
4.1 All Construction
4.2 Commercial Construction
4.3 Industrial Construction
4.4 Infrastructure Construction
4.5 Energy and Utilities Construction
4.6 Institutional Construction
4.7 Residential Construction
5 Key Industry Participants
5.1 Contractors
5.2 Consultants
6 Construction Market Data
7 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/h515un
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