Renovation wave is coming in Europe, but not here yet
The European Commission’s ambition to transform Europe into the first climate neutral continent by 2050 necessitates a huge program of renovation work. This ‘renovation wave’ will drive construction activity growth in the European Union over the remainder of the decade.
What you will learn:
- Construction industry capacity constraints and the timing of legislation will ensure a slow ramp up in renovations activity. The cost-of-living crisis will also weigh over residential renovation activity in the near-term.
- Commercial buildings are forecast to experience the fastest growth in renovation activity, in line with the timing for when minimum energy performance standards need to be met.
- We expect renovations activity will contribute most to total work done in Italy, Germany, France, and Denmark as countries with older building stock will need to undertake more renovations to get existing buildings up to the required standards.
Tags:
Related posts
Post
Industry in the age of the energy transition
This 5-page report identifies five key themes that will shape our Industry Climate Service research agenda over the course of 2024. The energy transition will have a significant impact on industrial activity this decade across several dimensions. Alongside the need for industry to urgently decarbonise its own activities, it will also play an instrumental role in the production of the low-carbon technologies necessary for decarbonisation in other sectors of the economy.
Find Out More
Post
Turbulence for interest-sensitive sectors in eye of rate hike storm
Much of the recent industrial underperformance in advanced economies is consistent with a slowdown triggered by the monetary policy shock that started in December 2021, our analysis shows. This reinforces our view that interest-sensitive sectors that have been struggling will continue to perform particularly poorly in the coming quarters.
Find Out More
Post
Closing the Gap: Attracting more women into construction is key to Net Zero.
Senior Economist Sarah Nelson expands on why women hold the key to achieving the all-important net zero target in the construction sector in Construction UK Magazine - End Of Year Review Edition 2023.
Find Out More