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Construction in Hungary - Key Trends and Opportunities to 2020

Published: Jun 14, 2016 | Pages: 2244 | Publisher: Timetric | Industry: Construction | Report Format: Electronic (PDF)



Synopsis
In real terms, the Hungarian construction industry posted positive growth during the review period (2011-2015). Construction activity was weak in 2012, as the economy was hit by a recession. Consequently, limited business confidence adversely affected investments. The industry subsequently recovered, driven by an improvement in economic conditions and new investments in construction projects. Over the forecast period (2016-2020), the industry is expected to expand at a slow pace. Improvements in investor and consumer confidence will drive funds into infrastructure, energy and utilities, and commercial construction projects. Government initiatives such as the Integrated Transport Development Operational Program (ITOP), Environment and Energy Efficiency Operational Program (EEEOP), National Renewable Energy Action Plan (NREAP) and Family Housing Allowance Program (CSOK) will support industry growth Government efforts to improve transport infrastructure and develop regional connectivity will support the industry's growth over the forecast period. Plans to increase the nation's energy production are also expected to support funding in energy infrastructure projects. The industry's output value in real terms increased at a compound annual growth rate (CAGR) of 3.55% during the review period, and is expected to post a CAGR of 2.74% over the forecast period.

Summary
Timetric's Construction in Hungary - Key Trends and Opportunities to 2020 report provides detailed market analysis, information and insights into the Hungarian construction industry including: • The Hungarian construction industry's growth prospects by market, project type and construction activity • Analysis of equipment, material and service costs for each project type in Hungary • Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in the Hungarian construction industry • Profiles of the leading operators in the Hungarian construction industry • Data highlights of the largest construction projects in Hungary

Scope
This report provides a comprehensive analysis of the construction industry in Hungary. It provides: • Historical (2011-2015) and forecast (2016-2020) valuations of the construction industry in Hungary using construction output and value-add methods • Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by project type • Breakdown of values within each project type, by type of activity (new construction, repair and maintenance, refurbishment and demolition) and by type of cost (materials, equipment and services) • Analysis of key construction industry issues, including regulation, cost management, funding and pricing • Detailed profiles of the leading construction companies in Hungary

Reasons to Buy
• Identify and evaluate market opportunities using Timetric's 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 Timetric's critical and actionable insight. • Assess business risks, including cost, regulatory and competitive pressures. • Evaluate competitive risk and success factors.

Key Highlights
• Being a landlocked country, Hungary's location plays a vital role in improving the performance of its logistics industry. According to the Kozponti Statisztikai Hivatal (KSH), the total volume of goods transported within the country grew by 1.6% in 2015 compared to 2014. Roads accounted for 84.8% of the movement of goods in 2015, followed by railways, pipeline and water transport with 7.8%, 7.3% and 0.1%. The increased transportation of goods creates a need for efficient transport infrastructure, which will support growth in the country's road and rail infrastructure over the forecast period. • In terms of buildings permits, there has been clear evidence of improvement in residential construction. According to the latest data from the KSH, new construction permits issued for residential buildings grew by 27.2% in 2015, increasing from 5,132 in 2014 to 6,526 in 2015. Moreover, the total floor area of new building permits grew by 27.1%, going from 1,082,916m2 in 2014 to 1,376,406m2 in 2015. • To increase electricity generation capacity, the government is planning to construct two new nuclear reactors at the Paks Nuclear Power Plant. Accordingly, the government entered into an agreement with Rosatom, Russia's State Atomic Energy Corporation, in January 2014. According to the terms of the agreement, Russia will finance 80.0% of the project by providing a loan worth HUF3.1 trillion (US$13.3 billion), which is to be repaid over the next 21 years, following the operation of new reactors. • According to the KSH, the number of foreign tourist arrivals rose by 17.6% during the first half of 2015, compared to the first half of 2014. Spending by foreign tourists increased by 12.3% over the same period. According to the Ministry for National Economy, the number of domestic tourist arrivals increased by 7.4% in 2015 compared to 2014. • With the aim of providing improved access to affordable housing, the government introduced CSOK in July 2015. Under this program, financial assistance is offered to married couples with children to help them build or purchase a new house with a reduced rate of VAT. Specific to the CSOK, VAT rates were decreased from 27.0% in 2015 to 5.0% until 2019.
 Table of Contents

1 Executive Summary 2 Industry Outlook 2.1 Commercial Construction 2.2 Industrial Construction 2.3 Infrastructure Construction 2.4 Energy and Utilities Construction 2.5 Institutional Construction 2.6 Residential Construction 3 Key Issues and Developments 4 Market Data Analysis 4.1 Construction Output and Value Add 4.1.1 Construction output by project type 4.1.2 Construction output by cost type 4.1.3 Construction output by activity type 4.1.4 Construction value add by project type 4.2 Commercial Construction 4.2.1 Commercial construction output by project type 4.2.2 Commercial construction output by cost type 4.2.3 Commercial construction output by activity type 4.2.4 Commercial construction value add by project type 4.3 Industrial Construction 4.3.1 Industrial construction output by project type 4.3.2 Industrial construction output by cost type 4.3.3 Industrial construction output by activity type 4.3.4 Industrial construction value add by project type 4.4 Infrastructure Construction 4.4.1 Infrastructure construction output by project type 4.4.2 Infrastructure construction output by cost type 4.4.3 Infrastructure construction output by activity type 4.4.4 Infrastructure construction value add by project type 4.5 Energy and Utilities Construction 4.5.1 Energy and utilities construction output by project type 4.5.2 Energy and utilities construction output by cost type 4.5.3 Energy and utilities construction output by activity type 4.5.4 Energy and utilities construction value add by project type 4.6 Institutional Construction 4.6.1 Institutional construction output by project type 4.6.2 Institutional construction output by cost type 4.6.3 Institutional construction output by activity type 4.6.4 Institutional construction value add by project type 4.7 Residential Construction 4.7.1 Residential construction output by project type 4.7.2 Residential construction output by cost type 4.7.3 Residential construction output by activity type 4.7.4 Residential construction value add by project type 5 Company Profile: Strabag Magyarorszag 5.1 Strabag Magyarorszag - Company Overview 5.2 Strabag Magyarorszag - Main Products and Services 5.3 Strabag Magyarorszag - Company Information 5.3.1 Strabag Magyarorszag - key competitors 5.3.2 Strabag Magyarorszag - key employee 6 Company Profile: OT INDUSTRIES ZRT. 6.1 OT INDUSTRIES ZRT. - Company Overview 6.2 OT INDUSTRIES ZRT. - Main Products and Services 6.3 OT INDUSTRIES ZRT. - History 6.4 OT INDUSTRIES ZRT. - Company Information 6.4.1 OT INDUSTRIES ZRT. - key competitors 6.4.2 OT INDUSTRIES ZRT. - key employees 7 Company Profile: Fomterv Mernoki Tervezo Zrt. 7.1 Fomterv Mernoki Tervezo Zrt. - Company Overview 7.2 Fomterv Mernoki Tervezo Zrt. - Main Services 7.3 Fomterv Mernoki Tervezo Zrt. - History 7.4 Fomterv Mernoki Tervezo Zrt. - Company Information 7.4.1 Fomterv Mernoki Tervezo Zrt. - key competitors 7.4.2 Fomterv Mernoki Tervezo Zrt. - key employees 8 Company Profile: Rutin Kft. 8.1 Rutin Kft. - Company Overview 8.2 Rutin Kft. - Main Products and Services 8.3 Rutin Kft. - History 8.4 Rutin Kft. - Company Information 8.4.1 Rutin Kft. - key competitors 9 Company Profile: Soltut Utepito Fenntarto Es Kereskedelmi Kft. 9.1 Soltut Utepito Fenntarto Es Kereskedelmi Kft. - Company Overview 9.2 Soltut Utepito Fenntarto Es Kereskedelmi Kft. - Main Services 9.3 Soltut Utepito Fenntarto Es Kereskedelmi Kft. - History 9.4 Soltut Utepito Fenntarto Es Kereskedelmi Kft. - Company Information 9.4.1 Soltut Utepito Fenntarto Es Kereskedelmi Kft. - key competitors 9.4.2 Soltut Utepito Fenntarto Es Kereskedelmi Kft. - key employees 10 Appendix 10.1 What is this Report About? 10.2 Definitions 10.3 Methodology 10.4 Contact Timetric 10.5 About Timetric 10.6 Timetric's Services 10.7 Disclaimer
List of Tables
Table 1: Hungarian Construction Output by Project Type (HUF Million), 2011-2015 Table 2: Hungarian Construction Output by Project Type (HUF Million), 2015-2020 Table 3: Hungarian Construction Output by Cost Type (HUF Million), 2011-2015 Table 4: Hungarian Construction Output by Cost Type (HUF Million), 2015-2020 Table 5: Hungarian Construction Output by Activity Type (HUF Million), 2011-2015 Table 6: Hungarian Construction Output by Activity Type (HUF Million), 2015-2020 Table 7: Hungarian Construction Value Add by Project Type (HUF Million), 2011-2015 Table 8: Hungarian Construction Value Add by Project Type (HUF Million), 2015-2020 Table 9: Hungarian Commercial Construction Output by Project Type (HUF Million), 2011-2015 Table 10: Hungarian Commercial Construction Output by Project Type (HUF Million), 2015-2020 Table 11: Hungarian Commercial Construction Output by Cost Type (HUF Million), 2011-2015 Table 12: Hungarian Commercial Construction Output by Cost Type (HUF Million), 2015-2020 Table 13: Hungarian Commercial Construction Output by Activity Type (HUF Million), 2011-2015 Table 14: Hungarian Commercial Construction Output by Activity Type (HUF Million), 2015-2020 Table 15: Hungarian Commercial Construction Value Add by Project Type (HUF Million), 2011-2015 Table 16: Hungarian Commercial Construction Value Add by Project Type (HUF Million), 2015-2020 Table 17: Hungarian Industrial Construction Output by Project Type (HUF Million), 2011-2015 Table 18: Hungarian Industrial Construction Output by Project Type (HUF Million), 2015-2020 Table 19: Hungarian Industrial Construction Output by Cost Type (HUF Million), 2011-2015 Table 20: Hungarian Industrial Construction Output by Cost Type (HUF Million), 2015-2020 Table 21: Hungarian Industrial Construction Output by Activity Type (HUF Million), 2011-2015 Table 22: Hungarian Industrial Construction Output by Activity Type (HUF Million), 2015-2020 Table 23: Hungarian Industrial Construction Value Add by Project Type (HUF Million), 2011-2015 Table 24: Hungarian Industrial Construction Value Add by Project Type (HUF Million), 2015-2020 Table 25: Hungarian Infrastructure Construction Output by Project Type (HUF Million), 2011-2015 Table 26: Hungarian Infrastructure Construction Output by Project Type (HUF Million), 2015-2020 Table 27: Hungarian Infrastructure Construction Output by Cost Type (HUF Million), 2011-2015 Table 28: Hungarian Infrastructure Construction Output by Cost Type (HUF Million), 2015-2020 Table 29: Hungarian Infrastructure Construction Output by Activity Type (HUF Million), 2011-2015 Table 30: Hungarian Infrastructure Construction Output by Activity Type (HUF Million), 2015-2020 Table 31: Hungarian Infrastructure Construction Value Add by Project Type (HUF Million), 2011-2015 Table 32: Hungarian Infrastructure Construction Value Add by Project Type (HUF Million), 2015-2020 Table 33: Hungarian Energy and Utilities Construction Output by Project Type (HUF Million), 2011-2015 Table 34: Hungarian Energy and Utilities Construction Output by Project Type (HUF Million), 2015-2020 Table 35: Hungarian Energy and Utilities Construction Output by Cost Type (HUF Million), 2011-2015 Table 36: Hungarian Energy and Utilities Construction Output by Cost Type (HUF Million), 2015-2020 Table 37: Hungarian Energy and Utilities Construction Output by Activity Type (HUF Million), 2011-2015 Table 38: Hungarian Energy and Utilities Construction Output by Activity Type (HUF Million), 2015-2020 Table 39: Hungarian Energy and Utilities Construction Value Add by Project Type (HUF Million), 2011-2015 Table 40: Hungarian Energy and Utilities Construction Value Add by Project Type (HUF Million), 2015-2020 Table 41: Hungarian Institutional Construction Output by Project Type (HUF Million), 2011-2015 Table 42: Hungarian Institutional Construction Output by Project Type (HUF Million), 2015-2020 Table 43: Hungarian Institutional Construction Output by Cost Type (HUF Million), 2011-2015 Table 44: Hungarian Institutional Construction Output by Cost Type (HUF Million), 2015-2020 Table 45: Hungarian Institutional Construction Output by Activity Type (HUF Million), 2011-2015 Table 46: Hungarian Institutional Construction Output by Activity Type (HUF Million), 2015-2020 Table 47: Hungarian Institutional Construction Value Add by Project Type (HUF Million), 2011-2015 Table 48: Hungarian Institutional Construction Value Add by Project Type (HUF Million), 2015-2020 Table 49: Hungarian Residential Construction Output by Project Type (HUF Million), 2011-2015 Table 50: Hungarian Residential Construction Output by Project Type (HUF Million), 2015-2020 Table 51: Hungarian Residential Construction Output by Cost Type (HUF Million), 2011-2015 Table 52: Hungarian Residential Construction Output by Cost Type (HUF Million), 2015-2020 Table 53: Hungarian Residential Construction Output by Activity Type (HUF Million), 2011-2015 Table 54: Hungarian Residential Construction Output by Activity Type (HUF Million), 2015-2020 Table 55: Hungarian Residential Construction Value Add by Project Type (HUF Million), 2011-2015 Table 56: Hungarian Residential Construction Value Add by Project Type (HUF Million), 2015-2020 Table 57: Strabag Magyarorszag, Key Facts Table 58: Strabag Magyarorszag, Main Products and Services Table 59: Strabag Magyarorszag, Key Employee Table 60: OT INDUSTRIES ZRT., Key Facts Table 61: OT INDUSTRIES ZRT., Main Products and Services Table 62: OT INDUSTRIES ZRT., History Table 63: OT INDUSTRIES ZRT., Key Employees Table 64: Fomterv Mernoki Tervezo Zrt., Key Facts Table 65: Fomterv Mernoki Tervezo Zrt., Main Services Table 66: Fomterv Mernoki Tervezo Zrt., History Table 67: Fomterv Mernoki Tervezo Zrt., Key Employees Table 68: Rutin Kft., Key Facts Table 69: Rutin Kft., Main Products and Services Table 70: Rutin Kft., History Table 71: Soltut Utepito Fenntarto Es Kereskedelmi Kft., Key Facts Table 72: Soltut Utepito Fenntarto Es Kereskedelmi Kft., Main Services Table 73: Soltut Utepito Fenntarto Es Kereskedelmi Kft., History Table 74: Soltut Utepito Fenntarto Es Kereskedelmi Kft., Key Employees Table 75: Timetric Construction Market Definitions


List of Figures
Figure 1: Hungarian Construction Output (Real US$ 2010, Million), 2011-2020 Figure 2: Growth Matrix for Construction Output in Hungary (US$ Million), 2011-2020 Figure 3: Hungarian Construction Output by Project Type (HUF Million), 2011-2020 Figure 4: Hungarian Construction Output by Cost Type (HUF Million), 2011-2020 Figure 5: Hungarian Construction Output by Activity Type (HUF Million), 2011-2020 Figure 6: Hungarian Construction Value Add by Project Type (HUF Million), 2011-2020 Figure 7: Hungarian Commercial Construction Output by Project Type (HUF Million), 2011-2020 Figure 8: Hungarian Commercial Construction Output by Cost Type (HUF Million), 2011-2020 Figure 9: Hungarian Commercial Construction Output by Activity Type (HUF Million), 2011-2020 Figure 10: Hungarian Commercial Construction Value Add by Project Type (HUF Million), 2011-2020 Figure 11: Hungarian Industrial Construction Output by Project Type (HUF Million), 2011-2020 Figure 12: Hungarian Industrial Construction Output by Cost Type (HUF Million), 2011-2020 Figure 13: Hungarian Industrial Construction Output by Activity Type (HUF Million), 2011-2020 Figure 14: Hungarian Industrial Construction Value Add by Project Type (HUF Million), 2011-2020 Figure 15: Hungarian Infrastructure Construction Output by Project Type (HUF Million), 2011-2020 Figure 16: Hungarian Infrastructure Construction Output by Cost Type (HUF Million), 2011-2020 Figure 17: Hungarian Infrastructure Construction Output by Activity Type (HUF Million), 2011-2020 Figure 18: Hungarian Infrastructure Construction Value Add by Project Type (HUF Million), 2011-2020 Figure 19: Hungarian Energy and Utilities Construction Output by Project Type (HUF Million), 2011-2020 Figure 20: Hungarian Energy and Utilities Construction Output by Cost Type (HUF Million), 2011-2020 Figure 21: Hungarian Energy and Utilities Construction Output by Activity Type (HUF Million), 2011-2020 Figure 22: Hungarian Energy and Utilities Construction Value Add by Project Type (HUF Million), 2011-2020 Figure 23: Hungarian Institutional Construction Output by Project Type (HUF Million), 2011-2020 Figure 24: Hungarian Institutional Construction Output by Cost Type (HUF Million), 2011-2020 Figure 25: Hungarian Institutional Construction Output by Activity Type (HUF Million), 2011-2020 Figure 26: Hungarian Institutional Construction Value Add by Project Type (HUF Million), 2011-2020 Figure 27: Hungarian Residential Construction Output by Project Type (HUF Million), 2011-2020 Figure 28: Hungarian Residential Construction Output by Cost Type (HUF Million), 2011-2020 Figure 29: Hungarian Residential Construction Output by Activity Type (HUF Million), 2011-2020 Figure 30: Hungarian Residential Construction Value Add by Project Type (HUF Million), 2011-2020

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