Ireland Construction Market Size, Trends, and Forecasts by Sector – Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2024-2028

Ireland Construction Market Size, Trends, and Forecasts by Sector – Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2024-2028


Summary

GlobalData estimates that the Ireland’s construction industry expects to decline by 1% in 2024, owing to high material costs and energy prices, along with supply chain disruptions that have been exacerbated by the Houthis’ Red Sea ship attacks and US-UK airstrikes in Red Sea. According to the Central Statistics Office (CSO), the average wholesale price index (excluding VAT) for building and construction materials rose by 7% year on year (YoY) in the first nine months of 2023, following an annual increase of 17.5% in 2022. Labor 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 Red sea conflict will unfold, as well as monetary policy tightening in the country. The fall in number of planning permits approved for construction also suggests output levels will weaken in the coming quarters. According to the CSO, the total number of planning permits granted for construction declined by 12.6% YoY in the first nine months of 2023, following an overall annual fall of 16.2% in 2022.

The Irish construction industry is expected to improve from 2025 onward, assuming an improvement in the wider economy. GlobalData forecasts the construction industry to record an average growth of 4.4% between 2025 and 2028, supported by investments in transport, electricity, and housing infrastructure projects. Under the Climate Action Plan (CAP23), the government aims to increase the share of renewable energy in the country’s total electricity mix to up to 80% by 2030, compared to 55.9% in 2021. The plan is to produce 9GW of onshore wind, 8GW of solar, and at least 5GW of offshore wind energy by 2030. Forecast period growth in the construction industry will also be supported by investment as part of the National Development Plan (NDP) 2021–30, which involves an investment of EUR165 billion ($169 billion) for different sectors in the country, over a time frame of 10 years. In late July 2023, the Department of Transport of Ireland and the Department for Infrastructure of Northern Ireland published the consultation the final version of the “All-Island Strategic Rail Review” which includes 30 recommendations for developing railways in the Republic of Ireland and Northern Ireland with the estimated cost at EUR36.8 billion ($37.7 billion), of which EUR27.6 billion ($28.2 billion) will be invest in Ireland until 2050. This includes electrification of railway lines, construction of new and enhanced routes, and improving speed and frequency of rail services by 2050.

GlobalData’s Construction in Ireland – Key Trends and Opportunities to 2028 (H1 2024) 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.
Scope

This report provides a comprehensive analysis of the construction industry in Ireland. It provides -
  • Historical (2019–2023) and forecast (2024–2028) 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 GlobalData'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 GlobalData's critical and actionable insight.
  • Assess business risks, including cost, regulatory and competitive pressures.
  • Evaluate competitive risk and success factors.


1 Executive Summary
2 Construction Industry: At-a-Glance
3 Context
3.1 Economic Performance
3.2 Political Environment and Policy
3.3 Demographics
3.4 Risk Profile
4 Construction Outlook
4.1 All Construction
Outlook
Latest news and developments
Construction Projects Momentum Index
4.2 Commercial Construction
Outlook
Project analytics
Latest news and developments
4.3 Industrial Construction
Outlook
Project analytics
Latest news and developments
4.4 Infrastructure Construction
Outlook
Project analytics
Latest news and developments
4.5 Energy and Utilities Construction
Outlook
Project analytics
Latest news and developments
4.6 Institutional Construction
Outlook
Project analytics
Latest news and developments
4.7 Residential Construction
Outlook
Project analytics
Latest news and developments
5 Key Industry Participants
5.1 Contractors
5.2 Consultants
6 Construction Market Data
7 Appendix
7.1 What is this Report About?
7.2 Definitions
7.3 CRI Methodology
8 About GlobalData
9 Contact Us
List of Tables
Table 1: Construction Industry Key Data
Table 2: Ireland, Key Economic Indicators
Table 3: Ireland, Commercial Construction Output by Project Type (Real % Change), 2019–28
Table 4: Ireland, Top Commercial Construction Projects by Value
Table 5: Ireland, Industrial Construction Output by Project Type (Real % Change), 2019–28
Table 6: Ireland, Top Industrial Construction Projects by Value
Table 7: Ireland, Infrastructure Construction Output by Project Type (Real % Change), 2019–28
Table 8: Ireland, Top Infrastructure Construction Projects by Value
Table 9: Ireland, Energy and Utilities Construction Output by Project Type (Real % Change), 2019–28
Table 10: Ireland, Top Energy and Utilities Construction Projects by Value
Table 11: Ireland, Institutional Construction Output by Project Type (Real % Change), 2019–28
Table 12: Ireland, Top Institutional Construction Projects by Value
Table 13: Ireland, Residential Construction Output by Project Type (Real % Change), 2019–28
Table 14: Ireland, Top Residential Construction Projects by Value
Table 15: Ireland, Key Contractors
Table 16: Ireland, Key Consultants
Table 17: Ireland, Construction Output Value (Real, $ Million)
Table 18: Ireland, Construction Output Value (Nominal, EUR Million)
Table 19: GlobalData Construction Market Definitions
Table 20: Risk Dimensions
Table 21: Ratings, Scores and Definitions
List of Figures
Figure 1: Western Europe, Construction Output (Real % Change), 2022–28
Figure 2: Ireland, Construction Output by Sector (Real % Change), 2022–24 and 2025–28
Figure 3: Ireland, Risk Summary
Figure 4: Ireland, Risk Regional Comparison
Figure 5: Ireland, Construction Output Value (Real, $ Million, 2022 Prices and Exchange Rate), 2019–28
Figure 6: Ireland, Construction Output Value, by Sector (Real, $ Million), 2019–28
Figure 7: Ireland, Construction Value Add (EUR Million, 2015 Chained Linked Volume Measures)
Figure 8: Ireland, Construction Production Volume Index, (2015=100)
Figure 9: Ireland, Gross Fixed Capital Formation, 2015 Chain Linked Volume Measures (EUR Million)
Figure 10: Ireland, Total Number of Planning Permissions Granted for Construction
Figure 11: Ireland, Wholesale Price Index (Excluding VAT) for Building and Construction Materials, 2015=100
Figure 12: Ireland, Construction Projects Momentum Index
Figure 13: Western Europe, Construction Projects Momentum Index
Figure 14: Ireland, Commercial Construction Output by Project Type (Real, $ Million), 2019–28
Figure 15: Ireland, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 16: Ireland, Total Number, and Floor Area (In Thousands M2) of Planning Permissions Granted for Commercial Buildings
Figure 17: Ireland, Overseas Arrivals (In Thousands)
Figure 18: Ireland, Services Value Index (2015=100)
Figure 19: Ireland, Retail Sales Volume and Value Indices, 2015=100
Figure 20: Ireland, Industrial Construction Output by Project Type (Real, $ Million), 2019–28
Figure 21: Ireland, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 22: Ireland, Total Number, and Floor Area (In Thousands M2) of Planning Permissions Granted for Industrial Buildings
Figure 23: Ireland, Volume Indices of Industrial and Manufacturing Production, 2015=100 (% Change, YoY)
Figure 24: Ireland, Manufacturing Value Add (EUR Million, Constant 2015 Prices)
Figure 25: Ireland, Value of Goods Exported (EUR Billion)
Figure 26: Ireland, Infrastructure Construction Output by Project Type (Real, $ Million), 2019–28
Figure 27: Ireland, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
Figure 28: Ireland, Total Number of Planning Permissions Granted for Road and Runway Construction
Figure 29: Ireland, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2019–28
Figure 30: Ireland, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
Figure 31: Ireland, Total Number of Planning Permissions Granted for Electricity and Communication and Water and Sewage Projects
Figure 32: Ireland, Institutional Construction Output by Project Type (Real, $ Million), 2019–28
Figure 33: Ireland, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
Figure 34: Ireland, Number of Planning Permission Granted for Government, Health, and Education Buildings
Figure 35: Ireland, Residential Construction Output by Project Type (Real, $ Million), 2019–28
Figure 36: Ireland, Residential Construction Projects Pipeline, Value by Stage ($ Million)
Figure 37: Ireland, Number of New Dwelling Completions
Figure 38: Ireland, Residential Property Price Index (RPPI), 2015=100
Figure 39: Ireland, Number of Residential Property Transactions
Figure 40: Ireland, Total Number of Planning Permissions Approved for Dwellings
Figure 41: Ireland, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 42: Ireland, Headquarters of Key Consultants (% of Total Project Pipeline)

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook
Cookie Settings