In Cramo countries, the construction market outlook for 2016 is mainly positive. The construction market analysts Euroconstruct and Forecon estimate that construction will increase in all of Cramo’s operating countries with the exception of Latvia and Russia.
In its June forecast, Euroconstruct estimated that construction would increase by 4–5% in Finland, Sweden and Norway in 2016, but local market analysts predict an increase of 6–9%. In Denmark and Germany, the construction market is estimated to grow by approximately 2%. In Eastern Europe, the construction market forecasts show significant differences between countries.
In equipment rental, changes in demand usually follow those in construction with a delay. In addition to construction volume, the demand for equipment rental services is affected by industrial investments and the increase in the rental penetration rate. Tightening legislation and the requirement to improve the efficiency and quality of construction increase the need for different types of rental-related services.
The demand for modular space is boosted by the increase in the need for and popularity of modifiable and easily implementable space solutions. Demand is increased by migration flows within countries and changes in demographics. Cramo believes that the long-term demand for both equipment rental and modular space is also supported by megatrends, such as urbanisation and the increasing emphasis on sustainability.
According to its June forecast, the European Rental Association (ERA) expects the use of equipment rental services to increase in 2016 in all of Cramo’s markets reported by ERA. According to Cramo’s estimate, the demand for modular space has increased in the Nordic countries by nearly 6% per year during the past five years.