The Polish construction industry is set for three years of uninterrupted growth, according to market research company, PMR.
Growth is said to reach 6% for 2015, despite hopes of achieving 9% earlier this year. It anticipates that the industry’s performance will be driven by increased growth in the second half of the year.
Predictions for 2016 are more optimistic, with growth expected to be 8%, meaning output could reach approximately PLN 101 billion (€24.8 billion). On the other hand, predictions for 2017 are even stronger, driven by a number of large-scale road contracts. The market may still expand in 2018, but the company believes growth will slow down from 2019.
Importantly, in the absence of mega projects, such as those required to hold the Euro 2012 football tournament, PMR does not expect any dramatic upsurge in investment in the coming years, but rather a stable stream of new projects until 2022.
Figures show that civil engineering construction will remain the largest market. It is expected to represent 57.1% of total construction output, and its share will increase at the expense of non-residential construction, predicted to be 30.6%, compared with 32.5% last year.