This report provides detailed market analysis, information and insights into the Belgian construction industry including industry's growth prospects by market, project type.
The Belgian construction industry is estimated to witness moderate growth in the next few years, stimulated by government schemes to upgrade public infrastructure. Given the growth potential of the market, industry experts have asserted that the segment would grow at a CAGR of 2% in the period between 2013 and 2018.
This report: Construction in Belgium – Key Trends and Opportunities to 2018 highlights the current market scenario, market drivers and key market players of the industry. It also provides a detailed insight into the prevalent market trends and outlines the challenges and scope of the market.
Key market drivers
The construction market in Belgium has been undergoing slow growth since 2009, ever since the world was hit by the euro crisis – the market declined by almost 0.1% in 2013 as an after-effect of the financial crisis. The Eurozone crisis resulted in a sharp drop of economic activities, which in turn minimized the demand for new construction projects throughout Europe. However, the market has been showing signs of moderate growth since 2014, owing to the recent economic recovery in the region. An increased demand for residential construction projects has recently been observed in the region. Moderate household debts and increased investment in the construction sector has also encouraged the market to a great extent. The market is further driven by the introduction of infrastructure projects including transport networks and the integration of a single multimodal network by the government of Belgium.
Key market players
Besix Group SA, Cofinimmo SA/NV, Compagnie d’Entreprises CFE SA, De Smet Engineers & Contractors SA, Denys NV, etc. are a few of the major players of the Belgian construction industry and contribute significantly to the steady growth of this segment. The market has also seen several M&As and investments recently, which have significantly strengthened the market. One of the leading Belgium construction companies, Cofinimmo declared the sale of 100% shares of its subsidiary organization, Galaxy Properties SA/NV. This activity is expected to bring about a decrease of the company’s consolidated debt and drive the market forward.
Despite the fact that the market has started to grow gradually, challenges like weak equity and low profit margins of construction companies continue to thwart the growth of the market. This has been increasing the competition in the industry, with medium-sized companies competing for the few number of construction projects which are available.
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