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Construction in Israel - Key Trends and Opportunities to 2023

  • Published Date: 26 Feb 2019
  • Number of Pages: 52
  • Category: Construction
  • Country: Israel
Construction in Israel - Key Trends and Opportunities to 2023

Summary

Israels construction industry suffered a downturn in 2018, contracting by 0.5% in real terms that year, following an average annual growth of 4.0% during 2014-2017. This decline can be attributed to low public and private sector investments in construction projects, slowdown in new home sales and deceleration in fixed assets investment in residential buildings.

Israels construction industry is expected to record positive growth over the forecast period (2019-2023), driven by the governments plans to upgrade the countrys transport infrastructure. In addition, public and private sector investments in energy, commercial, industrial and healthcare infrastructure construction projects are expected to support growth in the industry over the forecast period. The governments investment under the five-year infrastructure development program 2017-2021 is also expected to support the industrys growth over the forecast period. The government plans to invest ILS116.0 billion (US$32.4 billion) to develop the countrys infrastructure by 2021.

The industrys output value in real terms is expected to rise at a compound annual growth rate (CAGR) of 2.63% over the forecast period.

GlobalDatas "Construction in Israel - Key Trends and Opportunities to 2023", report provides detailed market analysis, information and insights into the Israeli construction industry, including -
- The Israeli construction industrys 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 the Israeli construction industry
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.

Key Highlights


- GlobalData expects the residential construction market to retain its leading position over the forecast period, and account for 55.4% of the industrys total value in 2023. Market expansion over the forecast period is expected to be supported by public and private sector investments in the construction of new residential buildings, in order to meet the demand for housing. In August 2018, the government approved plans to construct 20,000 new housing units in Maale Adumim near Jerusalem. The total investment in the project is anticipated to be ILS1.4 billion (US$379 million).
- Forecast-period growth in the institutional construction market will be supported by public and private sector investment in educational and healthcare building construction projects. In January 2018, the Israeli cabinet approved 15.1% of its 2019 state budget - ILS60.0 billion (US$17.5 billion) - for the education sector and 9.6% of its 2019 state budget - ILS38.0 billion (US$11.1 billion) - to improve the healthcare sector.
- GlobalData expects the infrastructure construction market to record a forecast-period CAGR of 5.75% in nominal terms, driven by the governments focus on developing the transport infrastructure to improve the mobility of people and services, support economic growth and decrease transport costs. The government plans to invest ILS123.6 billion (US$34.9 billion) to increase the countrys rail network to 2,572km by 2040.
- Energy and utilities construction markets forecast-period growth will be driven by the governments plan to increase the share of renewable energy in terms of the total energy mix, encouraging investment in renewable energy infrastructure. The government aims to generate 10% of the countrys total electricity needs through renewable sources by 2020 and 17% by 2030. Accordingly, the government is planning to generate 6GW through solar energy by 2030. In June 2018, the Energy Ministry announced a plan to issue a tender for the development of a 500MW solar energy project at the southern Israeli town of Dimona.
- The total construction project pipeline in Israel - as tracked by GlobalData, and including all mega projects with a value above US$25 million - stands at ILS547.1 billion (US$152.2 billion). The pipeline, which includes all projects from pre-planning to execution, is skewed towards late-stage projects, with 80.1% of the pipeline value being in projects in the pre-execution and execution stages as of February 2019.

Scope

- This report provides a comprehensive analysis of the construction industry in Israel.
- Historical (2014-2018) and forecast (2019-2023) valuations of the construction industry in Israel, 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 GlobalDatas 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 GlobalDatas critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
Publisher Name : GlobalData

1. EXECUTIVE SUMMARY
2. CONSTRUCTION OUTLOOK: AT-A-GLANCE
3. LATEST NEWS AND INDICATORS
4. KEY DRIVERS AND RISKS
4.1. Economic Performance
4.2. Political Environment
4.3. Demographics
4.4. Risk Profile
5. CONSTRUCTION OUTLOOK
5.1. All Construction
5.1.1. Outlook
5.1.2. Project analytics
5.2. Commercial Construction
5.2.1. Outlook
5.2.2. Project analytics
5.3. Industrial Construction
5.3.1. Outlook
5.3.2. Project analytics
5.4. Infrastructure Construction
5.4.1. Outlook
5.4.2. Project analytics
5.5. Energy and Utilities Construction
5.5.1. Outlook
5.5.2. Project analytics
5.6. Institutional Construction
5.6.1. Outlook
5.6.2. Project analytics
5.7. Residential Construction
5.7.1. Outlook
5.7.2. Project analytics
6. KEY INDUSTRY PARTICIPANTS
6.1. Contractors
6.2. Consultants
7. APPENDIX
7.1. What is this Report About?
7.2. Definitions
8. ABOUT GLOBALDATA
8.1. GlobalData at a Glance
8.2. GlobalData Construction
8.3. Disclaimer
8.4. Contact Us

List Of Tables


Table 1: Construction Outlook
Table 2: Israel, Key Economic Indicators
Table 3: Israel, Construction Output Value (nominal, ILS Million)
Table 4: Israel, Construction Output Value (nominal, US$ Million)
Table 5: Israel, Top Commercial Construction Projects by Value
Table 6: Israel, Top Industrial Construction Projects by Value
Table 7: Israel, Top Infrastructure Construction Projects by Value
Table 8: Israel, Top Energy and Utilities Construction Projects by Value
Table 9: Israel, Top Institutional Construction Projects by Value
Table 10: Israel, Top Residential and Mixed-Use Construction Projects by Value
Table 11: Israel, Key Contractors
Table 12: Israel, Key Consultants
Table 13: GlobalData Construction Market Definitions
Table 14: Construction Risk Index Ratings and Scores

List Of Figures


Figure 1: Key Markets, Construction Output Growth Matrix and Risk Matrix
Figure 2: Israel, Construction Projects Pipeline by Sector (ILS Billion)
Figure 3: Gross Domestic Capital Formation in Non-Residential buildings and Other Construction Works (ILS Million)
Figure 4: Total Building Permit Issued (In Thousand m2)
Figure 5: Israel, Risk Profile
Figure 6: Israel, Risk Comparison
Figure 7: Israel, Construction Output Value (Real, US$ billion, 2017 prices and exchange rate)
Figure 8: Israel, Construction Output Value, Growth Matrix
Figure 9: Israel, Construction Output Value, by Sector (ILS Million), 2014-2023
Figure 10: Israel, Construction Projects Pipeline, Projected Annual Spending by Stage (ILS Million), 2018-2023
Figure 11: Israel, Construction Projects Pipeline, Value by Stage (ILS Million)
Figure 12: Israel, Commercial Construction Output by Project Type (ILS Million), 2014-2023
Figure 13: Israel, Commercial Construction Projects Pipeline, Value by Stage (ILS Million)
Figure 14: Israel, Commercial Construction Projects Pipeline, Projected Annual Spending by Stage (ILS Million), 2018-2023
Figure 15: Israel, Industrial Construction Output by Project Type (ILS Million), 2014-2023
Figure 16: Israel, Industrial Construction Projects Pipeline, Value by Stage (ILS Million)
Figure 17: Israel, Industrial Construction Projects Pipeline, Projected Annual Spending by Stage (ILS Million), 2018-2023
Figure 18: Israel, Infrastructure Construction Output by Project Type (ILS Million), 2014-2023
Figure 19: Israel, Infrastructure Construction Projects Pipeline, Value by Stage (ILS Million)
Figure 20: Israel, Infrastructure Construction Projects Pipeline, Projected Annual Spending by Stage (ILS Million), 2018-2023
Figure 21: Israel, Energy and Utilities Construction Output by Project Type (ILS Million), 2014-2023
Figure 22: Israel, Energy and Utilities Construction Projects Pipeline, Value by Stage (ILS Million)
Figure 23: Israel, Energy and Utilities Construction Projects Pipeline, Projected Annual Spending by Stage (ILS Million), 2018-2023
Figure 24: Israel, Institutional Construction Output by Project Type (ILS Million), 2014-2023
Figure 25: Israel, Institutional Construction Projects Pipeline, Value by Stage (ILS Million)
Figure 26: Israel, Institutional Construction Projects Pipeline, Projected Annual Spending by Stage (ILS Million), 2018-2023
Figure 27: Israel, Residential Construction Output by Project Type (ILS Million), 2014-2023
Figure 28: Israel, Residential Construction Projects Pipeline, Value by Stage (ILS Million)
Figure 29: Israel, Residential Construction Projects Pipeline, Projected Annual Spending by Stage (ILS Million), 2018-2023
Figure 30: Israel, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 31: Israel, Headquarters of Foreign Contractors (% of Project Pipeline with Foreign Contractor)
Figure 32: Israel, Headquarters of Key Consultants (% of Total Project Pipeline)
Figure 33: Israel, Headquarters of Foreign Consultants (% of Project Pipeline with Foreign Consultants)

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