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Synopsis Italy’s construction industry has been in decline since 2008. In 2014 it posted a contraction of 2.8% in real terms. However, the industry is expected to fare slightly better over the forecast period (2015–2019), with new investment in residential, infrastructure and commercial projects, and improving investor confidence as regional and global economic conditions improve. In real terms, the industry’s output value is forecast to start growing again, picking up from a negative compound annual growth rate (CAGR) of -4.71% during the review period (2010–2014) to 0.17% in the forecast period. Summary Timetric’s Construction in Italy – Key Trends and Opportunities to 2019 report provides detailed market analysis, information and insights into the Italian construction industry including: • The Italian construction industry's growth prospects by market, project type and type of construction activity • Analysis of equipment, material and service costs across each project type within Italy • Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in the Italian construction industry • Analyzing the profiles of the leading operators in the Italian construction industry. • Data highlights of the largest construction projects in Italy Scope This report provides a comprehensive analysis of the construction industry in Italy. It provides: • Historical (2010-2014) and forecast (2015-2019) valuations of the construction industry in Italy using construction output and value-add methods • Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by project type • Breakdown of values within each project type, by type of activity (new construction, repair and maintenance, refurbishment and demolition) and by type of cost (materials, equipment and services) • Analysis of key construction industry issues, including regulation, cost management, funding and pricing • Detailed profiles of the leading construction companies in Italy Reasons to Buy • Identify and evaluate market opportunities using Timetric'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 business strategies using Timetric's critical and actionable insight • Assess business risks, including cost, regulatory and competitive pressures • Evaluate competitive risk and success factors Key Highlights • To revitalize the economy, the Italian government approved a new plan called Unlock Italy, in 2014. Through the decree the government aims to cut red tape and promote investment in infrastructure construction. Under this law, EUR3.9 billion (US$5.2 billion) and tax incentives will be available for several public infrastructure projects. However, the Bank of Italy feels that the decree may make infrastructure projects vulnerable and exposed to corruption. • In February 2015, the Ministry of Economics and Finance signed a loan agreement worth EUR950.0 million (US$1.2 billion) with the European Investment Bank (EIB). The loan will fund an investment program planned by the country’s infrastructure manager, Rete Ferroviaria Italiana (RFI). The plan aims to upgrade the country’s conventional railway network, and the regional and local routes, connecting southern and northern Italy. • A plan to build 140km of rail lines connecting Turin in Italy and Lyon in France, valuing EUR26 billion (US$31.6 billion), was first announced in 2012. The lines consist of 87km of tunnels, including the 57km base tunnel connecting Chiomonte in Italy and St Jean de Maurienne, France. Construction of the railway link was delayed due to rising costs and public protests over the environmental risks involved. However, the controversial rail link was approved in the first quarter of 2015. Construction of the 57km base tunnel, valuing EUR8.5 billion (US$10.3 billion), is expected to be operational in 2028. • In its Digital Agenda for Europe, the European Commission (EC) set out its broadband speed target for 2020. It includes download rates of 30 megabyte per second (Mb/s) for every person and at least 50.0% of households having an internet connection with speeds above 100Mb/s. In terms of broadband connectivity, Italy ranks in last position of 28 European countries, with only 21.0% of households having an internet connection of 100Mb/s or above; the European average is 66.0%. To meet the EC’s target, in March 2015 the Italian government approved a plan to invest EUR6 billion (US$6.7 billion) to upgrade the nation’s broadband network. This will support construction activity in the telecommunications category over the forecast period.
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