New Zealand Construction Industry Report 2023: Market to Grow by 3.6% in Real Terms in 2023, Before Recording an AAGR of 2.6% from 2024 to 2027

DUBLIN, Nov. 29, 2023 /PRNewswire/ — The “New Zealand Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2027” report has been added to ResearchAndMarkets.com’s offering.

The publisher expects New Zealand’s construction industry to grow by 3.6% in real terms in 2023, before recording an average annual growth of 2.6% from 2024 to 2027.

The industry’s output in the initial part of the forecast period will be supported by the rebuilding of infrastructure that was damaged by the Cyclone Gabrielle, which hit the country in early 2023. In May 2023, New Zealand’s former government reported that it will allocate NZD1.1 billion ($683.7 million) to help communities recover from the cyclone and floods that hit the country in January 2023.

The funding will be used to rebuild roads, rail and schools, and provide flood protection. Over the latter part of the forecast period, the industry’s growth will be supported by public infrastructure investment. As part of the May 2023 budget, the former government allocated NZD71 billion ($44.1 billion) for infrastructure investment over the next five years; this compares to an allocation of NZD45 billion ($28 billion) over the past five years. A further NZD6 billion ($3.7 billion) was allocated in initial funding for the “National Resilience Plan”, to support significant medium- and long-term infrastructure investment.

Forecast-period growth in the industry will also be supported by investment as part of the ”Public Housing Plan’, which aims to increase public housing supply in the country, with a special focus on areas that are experiencing high rates of population growth. The Ministry of Housing unveiled its “Updated Public Housing Plan: 2024 -2025” in late September 2023, outlining the locations of the 3,000 public homes that will be built by 2025.

The report provides detailed market analysis, information, and insights

New Zealand’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 New Zealand’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

Historical (2018-2022) and forecast (2023-2027) valuations of the construction industry in New Zealand, 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 the 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 critical and actionable insight.
Assess business risks, including cost, regulatory and competitive pressures.
Evaluate competitive risk and success factors.

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 Risk Profile

4. Construction Outlook
4.1 All Construction

Outlook
Latest news and developments
Construction Projects Momentum Index

4.2 Commercial Construction