New Zealand Construction Market Size, Trends, and Forecasts by Sector – Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2028 (H2 2024)

New Zealand Construction Market Size, Trends, and Forecasts by Sector – Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2028 (H2 2024)

Summary

GlobalData’s Construction in New Zealand - Key Trends and Opportunities to 2028 (H2 2024) report provides detailed market analysis, information, and insights into New Zealand’s construction industry, including-

• New Zealand’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 New Zealand’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.

The construction industry in New Zealand is expected to decline in real terms by 1.9% in 2024, owing to major weakness in residential construction sector, coupled with high inflation and construction costs. According to Statistics New Zealand, the total value of residential consents issued fell by 9.4% year-on-year (YoY), in the first five months of 2024, following an overall annual fall of 16.5% in 2023.

The industry is however expected to rebound at an average annual growth rate of 3.4% from 2025 to 2028, supported by investments in transport, health, and education infrastructure projects. In June 2024, as part of the ‘Government Policy Statement Land Transport 2024 (GPS 2024)’ plan, the government announced an investment of NZD22 billion ($13.1 billion) until 2027 to modernize the transportation network in the country. As of August 2024, the government reported that the country has NZD44 billion ($26.3 billion) of transport, water, and education infrastructure projects currently under construction. In May 2024, the government also announced its plan to develop a 30-year National Infrastructure Plan to fast forward implementation of infrastructure projects in the country.

Scope

This report provides a comprehensive analysis of the construction industry in New Zealand. It provides-

• Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in New Zealand, 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.