Ireland Construction Market Size, Trends and Forecasts 2022-2026 - Construction Network Ireland - Construction Network Ireland

Back to News

Next Article

Published in Construction on 28/10/2022

Ireland Construction Market Size, Trends and Forecasts 2022-2026

CNI Editor reports

It is estimated that Ireland’s construction industry will grow by 10.6% this year, following a 4.7% annual decrease in 2021. Despite this expansion, construction output levels in real terms will not surpass 2019 levels until 2023, owing to the sharp decline recorded in 2020. In the first quarter of 2022, construction activity jumped sharply on a year-on-year (Y-o-Y) basis, growing by 27%.

However, output growth in the coming quarters will be dampened by the impact of high materials and energy prices, along with supply chain disruptions that have been exacerbated by the Russia-Ukraine conflict. Prices and availability of resources are projected to be under pressure until the end of 2022, according to the Society of Chartered Surveyors Ireland (SCSI).

Labour shortages are also a factor in driving up overall construction costs, with the construction industry having to compete with other industries for workers. Investor confidence has been impacted by the uncertainty over how the Russia-Ukraine conflict will unfold, as well as monetary policy tightening.

Find out more:
Ireland Construction Market Size, Trends and Forecasts 2022-2026

Assuming that inflationary pressures are contained, there are no further rounds of coronavirus (COVID-19) restrictions on activity and the conflict in Ukraine does not escalate, Ireland’s construction industry is projected to expand by an annual average rate of 4.3% between 2023 and 2026. Activity will be supported by energy, transport, and residential investment.

Through the National Development Plan (NDP) 2021-30 plan, the government plans to spend EUR165 billion in infrastructure; this includes EUR35 billion on transport infrastructure, of which EUR12 billion will be on public transport, EUR13 billion on maintenance, EUR6 billion on road infrastructure, and EUR4 billion on walking and cycling infrastructure.

Furthermore, the government has set a plan to invest EUR16 billion (US$19.1 billion) in energy projects and EUR7.2 billion ($8.6 billion) to EUR12.5 billion ($14.9 billion) in support to deliver 2.5GW of grid-scale solar, 8GW of onshore wind, and 5GW of offshore wind under the Renewable Electricity Support Scheme (RESS).

The report provides detailed market analysis, information, and insights into Ireland’s construction industry, including:
– Ireland’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 Ireland’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

This report provides a comprehensive analysis of the construction industry in Ireland. It provides:
– Historical (2017-2021) and forecast (2022-2026) valuations of the construction industry in Ireland, 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 publisher’s standardised 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 the publisher’s critical and actionable insight.
– Assess business risks, including cost, regulatory and competitive pressures.
– Evaluate competitive risk and success factors.

Ireland Construction Market Size, Trends and Forecasts 2022-2026