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

November 8, 2018

LONDON--(BUSINESS WIRE)--Nov 8, 2018--The construction market research report by predicts the market in Germany to post a CAGR of close to 5% during the period 2019-2023.

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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. (Graphic: Business Wire)

A key driver for the 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:

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.

Looking for more information on this market?

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

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

About Technavio

is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at .

View source version on businesswire.com:https://www.businesswire.com/news/home/20181108005677/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

KEYWORD: EUROPE GERMANY

INDUSTRY KEYWORD: PROFESSIONAL SERVICES OTHER PROFESSIONAL SERVICES CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE RESIDENTIAL BUILDING & REAL ESTATE

SOURCE: Technavio Research

Copyright Business Wire 2018.

PUB: 11/08/2018 11:34 AM/DISC: 11/08/2018 11:34 AM

http://www.businesswire.com/news/home/20181108005677/en

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