Market Analysis
Civil Engineering Overview
Civil engineering - the construction and maintenance of structures and public works such as roads, bridges, railways, airports, power stations and water works - accounts for around 21% of total European construction spend, roughly 2.4% of GDP.
It is largely funded by public spending and is the smallest of all the construction sub-sectors, but is also experiencing a period of strong growth.
'It has been and is expected to remain a driving force in the development of total European construction output up to 2008,' said Volker Russig of Germany's Institute for Economic Research.
He added that in 2004, growth in civil engineering was well behind the equivalent growth in GDP; by 2005 it was level and up to 2008 it will be well ahead.
Across all 19 markets studied, civil engineering work is expected to grow by an average of 6.2%.
But it is in the East that the market is expanding fastest, with Poland, Hungary, Slovakia and the Czech Republic all above 10%.
Forecasters say this can be explained - at least in part - by the East's economic growth, which is boosting tax incomes and providing governments with the public funds to replace dilapidated infrastructure.
| Western Europe | |||||||
|---|---|---|---|---|---|---|---|
| Year | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 |
| Civil Engineering | 2.1 | 1.8 | 0.6 | 1.1 | 2.8 | 2.4 | 2.3 |
| Eastern Europe | |||||||
| Civil Engineering | 3.9 | 4.1 | 7.1 | 11.4 | 11.3 | 11.6 | 11.9 |
Western Europe Civil Engineering Annual Change (% Real Terms)
Eastern Europe Civil Engineering Annual Change (% Real Terms)
