Dallas, Texas (PRWEB) March 19, 2013
The Danish construction industry recorded a CAGR of -3.31% during the review period. All construction markets registered negative growth in this period. This is largely a result of the slowing down of the economy following the financial crisis. Residential construction constituted the largest market within the construction industry, accounting for a 46.8% share of industry output in 2012. However, the market was also among the worst performing markets and recorded a CAGR of -3.88% during the review period. Despite the correction in property prices, they remain considerably higher than neighboring countries, leaving the residential market in a fragile situation. The residential construction market to record positive growth in 2014 with a CAGR of 1.44% over the forecast period, after recording a decline of 0.3% in 2013.
Declining exports had a negative impact on the industrial construction market
Industrial construction recorded a CAGR of -3.99% during the review period, the largest decline of all the construction markets. Owing to uncertainty in the global economy, exports declined, resulting in the decline of local demand which affected the manufacturing industry in particular. With the eurozone crisis continuing to fester and many Danish trade partners suffering as a result, Report forecasts the Danish industrial construction market to register a CAGR of 0.33% over the forecast period.
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Despite a highly-developed transport network the infrastructure market recorded a negative CAGR
Denmark has a well-developed infrastructure of roads, railways, airports and ports. At the beginning of 2011, the country had a road network of more than 74,000 km, a railway network of over 2,600 km, and a network of ferry services to connect its large number of islands. Denmark also has 130 commercial ports and 30 airports including five international airports, with the airport in Copenhagen serving as the primary connection between Scandinavian countries and the rest of Europe. During the review period, the infrastructure construction market suffered the lowest contraction of 6.8% and recorded a CAGR of 1.74%.
Weak economic growth is affecting urban development In 2012, the Danish commercial construction output valued DKK26.3 billion (US$4.9 billion), recording a CAGR of -3.68% during the review period. With the Danish economy remaining in turmoil and caught in a period of sluggish growth, the demand for commercial properties such as retail, office and leisure and hospitality remained low. As a result of the continuing gloomy conditions across most of Western Europe, the main trading partner for Denmark, the commercial construction output to register a CAGR of 0.88% over the forecast period.
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