Construction Market in Germany 2019-2023 | Rising Demand for Housing Units to Boost Growth | Technavio

LONDON–(BUSINESS WIRE)–#Research–The construction market research report by Technavio
predicts the market in Germany to post a CAGR of close to 5%
during the period 2019-2023.


A key driver for the construction
market in Germany
is the growing demand for housing
units. According to the Federal Office for Building and Regional
Planning, Germany requires about 350,000 new housing units per year by
2021. In 2018, the German government made an announcement regarding its
plan to construct around 1.5 million housing units by 2021.
Additionally, the high population growth in major cities and the
increase in immigrant influx will drive the increase in residential
construction projects.

This construction market research report also
provides an analysis of the most important trends expected to impact the
market outlook in Germany during the period 2019-2023. Technavio
classifies an emerging trend as a major factor that has the potential to
significantly impact the market and contribute to its growth or decline.

This report is available at a USD 1,000 discount for a limited time
only:
View
market snapshot before purchasing

In this report, Technavio highlights the ongoing use of digital
technologies as one of the key trends in the construction market in
Germany:

Construction market in Germany: Use of digital
technologies

The adoption of BIM in construction projects in Germany has resulted in
improved productivity, quality, work speed, and low cost for vendors. In
April 2013, the Federal Ministry of Transport and Digital Infrastructure
in Germany, founded the Construction of Major Projects Reform Commission
to improve public confidence in certain projects. This commission
assisted in developing solutions to enhance true-cost pricing, increase
cost transparency, augment efficiency, and facilitate timely completion
of significant projects.

“The development of standards is further assisting the adoption of
BIM in the construction industry. The Association of German Engineers
has been working on developing building standards VDI 2552 series for
BIM. VDI 2552 will become the German national BIM standard after
completion,”
says a senior analyst at Technavio for research on
construction.

Construction market in Germany: Segmentation
analysis

This construction market analysis report segments the market in Germany
by end-user sectors (residential, public, and commercial) and by type
(renovation and modernization and new installations).

The residential segment held the largest construction market share in
2018, accounting for over 53% of the market. This end-user segment is
expected to dominate the market throughout the forecast period.

Of the two segments based on type, the renovation and modernization
segment held the largest construction market share in 2018, accounting
for nearly 62% of the market. This segment is anticipated to dominate
the market throughout the period 2019-2023.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

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