Summary
New Zealand’s construction industry recorded an annual average growth rate of 6.6% between 2016-2019. Following the outbreak of the COVID-19 pandemic, however, the industry contracted by 7.3% in real terms in 2020. The lockdown restrictions imposed by the government in the first half of the year and the resultant economic uncertainty and weakness severely impacted activity in the industry. The downturn was further exacerbated by delays in project implementation and the re-allocation of part of the government’s budget towards its management of the COVID-19 pandemic.
GlobalData expects the construction industry to recover in 2021, growing by 5.5% in real terms. To support both the wider economy and the construction industry, the government announced plans to fund large shovel-ready infrastructure projects in March 2020. Accordingly, in early April 2020, the government announced the formation of the Infrastructure Industry Reference Group (IIRG), comprising a group of industry leaders, and tasked them with identifying public, as well as private sector shovel-ready infrastructure projects with a value of NZD10 million (US$5.8 million) or above. As of the end of January 2021, the government has approved projects worth NZD4.7 billion (US$2.7 billion) for the IIRG.
The industry is expected to register an average annual growth of 3.5% between 2022 and 2025, supported by investments in residential, transport, institutional and renewable energy projects. As part of the COVID-19 Response and Recovery Fund (CRRF), in May 2020 the government allocated NZD3 billion (US$1.7 billion) to fund infrastructure projects across the country. In addition, growth will also be supported by an investment of NZD12 billion (US$7 billion) to build and upgrade road, rail, school and hospital projects under the New Zealand Upgrade Programme.
This 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.
Scope
This report provides a comprehensive analysis of the construction industry in New Zealand. It provides -
- Historical (2016-2020) and forecast (2021-2025) 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.
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Table of Contents
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 COVID-19 Status
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 GlobalData Construction
Contact Us
List of Tables
Table 1: Construction Industry Key Data
Table 2: New Zealand, Key Economic Indicators
Table 3: New Zealand, Commercial Construction Output by Project Type (real % change), 2016-2025
Table 4: New Zealand, Top Commercial Construction Projects by Value
Table 5: New Zealand, Industrial Construction Output by Project Type (real % change), 2016-2025
Table 6: New Zealand, Top Industrial Construction Projects by Value
Table 7: New Zealand, Infrastructure Construction Output by Project Type (real % change), 2016-2025
Table 8: New Zealand, Top Infrastructure Construction Projects by Value
Table 9: New Zealand, Energy and Utilities Construction Output by Project Type (real % change), 2016-2025
Table 10: New Zealand, Top Energy and Utilities Construction Projects by Value
Table 11: New Zealand, Institutional Construction Output by Project Type (real % change), 2016-2025
Table 12: New Zealand, Top Institutional Construction Projects by Value
Table 13: New Zealand, Residential Construction Output by Project Type (real % change), 2016-2025
Table 14: New Zealand, Top Residential Construction Projects by Value
Table 15: New Zealand, Key Contractors
Table 16: New Zealand, Key Consultants
Table 17: New Zealand, Construction Output Value (Real, US$ Million)
Table 18: New Zealand, Construction Output Value (Nominal, NZD Million)
Table 19: GlobalData Construction Market Definitions
List of Figures
Figure 1: Asia Pacific, Construction Output (real % change), 2020 and 2021
Figure 2: New Zealand, Construction Projects Pipeline by Sector (US$ Billion)
Figure 3: New Zealand, COVID-19 Confirmed Cases
Figure 4: New Zealand, Construction Output Value (Real, US$ billion, 2017 prices and exchange rate), 2016-2025
Figure 5: New Zealand, Construction Output Value, by Sector (Real, US$ Million), 2016-2025
Figure 6: New Zealand, Construction Value-Add, 2009/2010 Chain-Volume Measures, Seasonally Adjusted, % Change YoY
Figure 7: New Zealand, Total Value of Building Work Put in Place, % Change YoY
Figure 8: New Zealand, Gross Fixed Capital Formation, 2009/2010 Chain-Volume Measures, % Change YoY
Figure 9: New Zealand, Total Value of Building Consents Issued, % Change YoY
Figure 10: New Zealand, Construction Projects Momentum Index
Figure 11: New Zealand, Commercial Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 12: New Zealand, Commercial Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 13: New Zealand, Commercial Buildings Put in Place, NZD Million, % Change YoY
Figure 14: New Zealand, Foreign Tourist Arrivals (in Thousands)
Figure 15: New Zealand, Retail Sales (NZD Billion)
Figure 16: New Zealand, Accommodation and Food Services Value-Add (NZD Million, 2009/2010 Chain-Volume Measures)
Figure 17: New Zealand, Retail and Wholesale Trade Value-Add, 2009/2010 Chain-Volume Measures, % Change YoY
Figure 18: New Zealand, Industrial Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 19: New Zealand, Industrial Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 20: New Zealand, Manufacturing Value-Add (NZD Million, 2009/2010 Chain-Volume Measures)
Figure 21: New Zealand, Performance of Manufacturing Index, Seasonally Adjusted
Figure 22: New Zealand, Sales of Manufactured Goods, NZD Million, % Change YoY
Figure 23: New Zealand, Mining Value-Add, 2009/2010 Chain-Volume Measures, (NZD Million, % Change YoY)
Figure 24: New Zealand, Total Overseas Merchandise Trade, NZD Billion, % Change YoY
Figure 25: New Zealand, Infrastructure Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 26: New Zealand, Infrastructure Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 27: New Zealand, Energy and Utilities Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 28: New Zealand, Energy and Utilities Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 29: New Zealand, Electricity Generation and Consumption, % Change YoY
Figure 30: New Zealand, Institutional Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 31: New Zealand, Institutional Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 32: New Zealand, Healthcare and Educational Buildings Put in Place, % Change YoY
Figure 33: New Zealand, Residential Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 34: New Zealand, Residential Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 35: New Zealand, Total Value of Residential Building Work Put in Place, NZD Million, % Change YoY
Figure 36: New Zealand, Total Number of New Dwellings Consented, % Change YoY
Figure 37: New Zealand, House Sales, in Thousands, % Change YoY
Figure 38: New Zealand, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 39: New Zealand, Headquarters of Key Consultants (% of Total Project Pipeline)
