Summary

The total value of the output in the construction sector within Ireland in 2008 was €29.7 billion (US$43.7 billion). The construction industry grew at a CAGR of 4.54% over the period 2003 to 2008. The gross investment in the building and construction accounted for over 70.0% of the total investment in the economy and 22.0% of the Gross National Product (GNP) in 2007. The proportions are expected to shrink dramatically by 2009 end. The prospects for the construction industry are very bleak and the industry can contract to well below €30.0 billion (US$44.0 billion) by the end of 2009. The Irish construction market has been described as ¡®severely depressed' with activity levels over 70.0% lower in 2008 in comparison to the same period a year ago. The construction industry of Ireland has been the worst performer in Europe since 2007 when the industry was at its peak with a value of €38.4 billion (US$56.5 billion). The main reason for the downturn of the industry was a fall in the residential investment that was feeding through to other sectors. The residential sector of the Irish construction market made significant contribution to the construction industry before 2008, which drastically decreased during 2008.

In 2007, construction output was highest in the residential sector, which was valued at over €22.7 billion (US$33.4 billion). With a value of €14.2 billon (US$20.9 billion), residential construction accounted for 47.8% of the total Ireland's construction market value in 2008, compared to 59.1% in 2007 and 64.0% in 2006. Factors that influenced the residential sector's performance were the credit crunch and the weak buyer activity in the housing market. In 2009, the residential market will almost come to a standstill. The non-residential construction, in comparison to the residential sector had a lesser impact. The sector is likely to be quite flat in 2009 with only a few large scale new projects being planned. By 2008, the non-residential sector was worth €15.5 billion (US$22.8 billion) accounting for 52.2% of the total construction in Ireland following a double digit growth for past four years.

Table of Contents

Ireland Construction Market Analysis
Ireland Construction Competitive Landscape
Leading Ireland Construction Companies
Ireland Construction Market Forecast
Appendix