Summary
The Austrian construction industry grew at a CAGR of 3.29% for the period 2003-2008. Non-residential sector's market share was 75.7% in 2008, while residential sector accounted for the balance 24.3%. The Austrian economy registered a GDP growth of 0.4% at the adjusted quarter-on-quarter rate in real terms during the second quarter of 2008. In year on- year terms, this GDP growth was 2%. The lower pace of growth rate achieved as compared to the previous quarters was due to the impact of global economic downturn on activities involving export and production in the industries. The demand from consumer did not recover due to high inflation and falling incomes in real terms. The construction sector and tourism played the role of providing stability to the economy. The construction industry in Austria provides employment to around 750,000 people. The current boom witnessed in the construction sector has been possible due to developments going on in the infrastructure sector such as extension of the Vienna airport. Following are the factors acting as the drivers for growth of construction sector in Austria:
* Rise in growth of population due to migration.
* Higher demand for energy-efficient buildings.
* Higher demand in metropolitan areas.
* Significant increase in number of single households, retirees etc.
The output of the construction industry during the year 2008 was US$26.8 billion, growing at a rate of 5.1% as compared to the previous year. The CAGR growth witnessed during 2003-2008 was 3.29%. The factors leading to the growth of construction sector in Austria include rising population, due to migration of people from other countries, higher demand for buildings efficient in terms of consumption of the energy, higher demand in metropolitan areas and considerable rise in the population comprising of nuclear families and retired people.
Table of Contents
Austria Construction Market Analysis
Austria Construction Competitive Landscape
Leading Austria Construction Companies
Austria Construction Market Forecast
Appendix
