France Infrastructure Report

Published 02 July 2015

  • 93 pages
  • Instant access to your report online and PDF format through your account library
  • Includes 3 free updated quarterly reports
$1,295.00
France Infrastructure Report

BMI View: Our outlook for the French infrastructure sector remains subdued in 2015. A weak domestic economic environment and ongoing policy and regulatory uncertainty are undermining investor confidence and we expect to see limited gains in terms of fixed capital formation. Overall we expect to see construction industry value contract in 2015 by 1.4% , before returning to minimal growth in 2016.

Key Trends And Developments

  • Weaknesses in France's labour market - both in terms of unemployment and lack of competitiveness - support our negative outlook on the country's construction industry.

  • The outlook for the housing market remains bleak, with the total number of housing permits having been authorised contracting by an average of 12.2% year-on-year (y-o-y) in the first three months of 2015. France's economic uncertainty and stubborn unemployment rates will prevent a recovery in the demand for housing.

  • Our Country Risk team forecast weak GDP growth of just 1.3% and 1.4% in 2015 and 2016 respectively.

  • Transport infrastructure remains the strongest sector in France's construction market, with annual average growth of 3.1% expected throughout the forecast period to 2024.

  • Rail firm SNCF Reseau (formed in January 2015 after the merger of SNCF Infra and infrastructure manager RFF) announced it plans to invest EUR4.9bn in the country's rail network in 2015, reinforcing transport as the bright spot in French construction.

  • The energy sector remains subdued, with investor confidence further undermined by the watering down of the new energy bill, which will reduce the proportion of nuclear energy in the country's energy mix.

BMI Industry View
7
SWOT
8
Infrastructure SWOT
8
Industry Forecast
10
Construction And Infrastructure Forecast Scenario
10
Table: Construction And Infrastructure Industry Data (France 2013-2018)
10
Table: Construction And Infrastructure Industry Data (France 2019-2024)
11
Transport Infrastructure - Outlook And Overview
18
Table: Transport Infrastructure Industry Data (France 2013-2018)
18
Table: Transport Infrastructure Industry Data (France 2019-2024)
19
Transport Infrastructure Outlook And Overview
20
Major Projects Table - Transport
27
Table: Major Projects - Transport
27
Energy And Utilities Infrastructure - Outlook and Overview
37
Table: Energy And Utilities Infrastructure Data (France 2013-2018)
37
Table: Energy And Utilities Infrastructure Data (France 2019-2024)
38
Major Projects Table - Energy & Utilities
43
Table: Major Projects - Energy And Utilities
43
Residential/NonResidential Building - Outlook And Overview
47
Table: Residential and Non-Residential Building Industry Data (France 2013-2018)
47
Table: Residential and Non-Residential Building Industry Data (France 2019-2024)
47
Major Projects Table - Residential/Non-Residential Construction And Social Infrastructure
52
Table: Major Projects - Residential & Non-Residential Building
52
Industry Risk Reward Index
57
France - Industry Risk/Reward Index
57
Rewards
57
Risks
57
Lower Risk, But Lower Returns In North America And Western Europe
59
Table: Western Europe And North America: Infrastructure Risk/Reward Index
65
Market Overview
66
Competitive Landscape
66
Table: France - Company Financial Data
67
Company Profile
68
VINCI Group
68
Table: VINCI 2014 Key Financial Results Table
71
EDF Group
72
Lafarge
76
Bouygues Group
79
Global Industry Overview
82
Project Risk Index: Robust Financing Establishes Outperformer Status
82
Table: Project Risk Index - Top 10 Markets
82
Table: Project Risk Index - Financing Risk, SSA Top 5
83
Table: Project Risk Index - Construction Risk, Asia-Pacific Top 5
84
Table: Project Risk Index - Operation Risk, Developed Markets Top 5
85
Methodology
86
Industry Forecast Methodology
86
Sector-Specific Methodology
87
Risk/Reward Index Methodology
91
Sector-Specific Methodology
92
Table: Infrastructure Risk/Reward Index Indicators
92
Table: Weighting Of Indicators
93

The France Infrastructure Report features BMI Research's market assessment and forecasts covering public procurement and spending on all major infrastructure and construction projects, including transportation and logistics by land, sea and air; power plants and utilities, and commercial construction and property development. The report analyses the impact of regulatory changes and the macroeconomic outlook and features competitive intelligence on contractors and suppliers.

BMI's France Infrastructure Report provides industry professionals and strategists, sector analysts, investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the French infrastructure and construction industry.

Key Benefits

  • Benchmark BMI's independent infrastructure industry forecasts for France to test other views - a key input for successful budgetary and planning in the French infrastructure market.
  • Target business opportunities and risks in the French infrastructure sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in France.
  • Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity).

Coverage

BMI Industry View

Summary of BMI’s key industry forecasts, views and trend analysis covering infrastructure and construction, regulatory changes, major investments and projects and significant national and multinational company developments. These are broken down into construction (social, commercial and residential), transport (roads, railways, ports, airports, etc), and energy & utilities (powerplants, pipelines and so on).

Industry SWOT Analysis

Analysis of the major strengths, weaknesses, opportunities and threats within the infrastructure and construction sectors and within the broader political, economic and business environment.

BMI Industry Forecasts

Historic data series (up to 2012) and forecasts to end-2024 for all key industry indicators, supported by explicit assumptions, plus analysis of key developments in the market and risks to the main forecasts. Indicators include:

Construction: Industry value (USDbn); contribution to GDP (%); total capital investment (USDbn); real growth (%).

Construction industry real growth forecasts (%) and industry value (USDbn) forecasts for industry sectors are split into Residential and Non-residential and Infrastructure sectors. Where the data is available for particular countries the infrastructure is further broken down into indicators for the transport subsectors of roads, railways, airports and ports and the energy and utilities sub-sectors of power plants and transmission grids, oil & gas pipelines and water infrastructure. This dataset is unique to the market.

The reports also include analysis of latest projects across the infrastructure sectors (transport, utilities, commercial construction).

BMI’s Infrastructure Risk Reward Index

BMI’s Risk Reward Index provides investors (construction companies, suppliers and partners) looking for opportunities in the region with a clear country-comparative assessment of a market’s risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and  demographic data points. These provide indices of highest to lowest appeal to investors, with each position explained.

Market Overview

An assessment of the competitive landscape and key challenges to entering the market. Details of the largest companies active in the sector across the sub-segments of the industry, including the key financial figures from some of the largest players in the sector.

Company Profiles*

Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI’s industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape to generate company SWOT analyses. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.

Sources

The Infrastructure reports draw on an extensive network of primary sources, such as multilateral organisations, government departments, industry associations, chambers and company reports.

*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.

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