The Irish construction industry recorded compound annual growth rate (CAGR) of -28.25% between 2008 and 2012 but infrastructure construction is projected to record a CAGR of 1.03% between 2013 and 2017. This growth can primarily be attributed to various transport plans and government initiatives that are seeking to stimulate the economy.
Residential construction is the largest construction market in Ireland – accounting for 34.7% of total construction output in 2012 – but it was also one of the worst performing between 2008 and 2012, recording a CAGR of -29.37%.
Ireland’s commercial construction market recorded the most significant decline of all sectors: a CAGR of -32.93% between 2008 and 2012. It was closely followed by the industrial construction sectorm which recorded a CAGR of -31.36% between 2008 and 2012.
Although all sectors of Irish construction registered negative growth between 2008 and 2012, a low benchmark interest rate, various transport plans, and government initiatives to stimulate the economy are expected to encourage growth in the infrastructure sector between 2013 and 2017.
Timetric’s report, ‘Construction in Ireland – Key Trends and Opportunities to 2017’ is available at http://timetric.com/research/report/CN0132MR/
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